News

Customs generates N1.37 trn, targets N1.5 trn in 2018 , says Comptroller General

Ihesiulo Grace 16 January 2018 0

The Nigeria Customs Service has set a revenue target of N1.5 trillion for 2018.The Comptroller-General of Customs, Hammed Ali, disclosed this at the first management meeting for 2018 held in Abuja. A statement by Joseph Attah, Customs PRO on Monday, said that in 2017, the Service generated

Business

N100bn revenue shortfall: FG orders contractors to show TIN before payment

Ihesiulo Grace 9 January 2018 0

….Moves to block revenue leakages by contractors The Federal Government has ordered vendors of Ministries, Departments and Agencies (MDAs) to display their Tax Identification Numbers (TINs) on their invoices before payments are effected by the MDAs. The FG’s directive was handed down on Tuesday in Abuja, by the Honourable Minister of Finance, Mrs. Kemi Adeosun […]

News Politics

Education tops as capital projects get 65% in Borno’s N170b budget

Ihesiulo Grace 29 December 2017 0

‎Governor Kashim Shettima on Thursday presented Borno’s 2018 Budget of N170. 2 billion with education getting the highest amount of N27 billion in an estimate that allocated 65 percent for capital projects leaving recurring with N61.8 billion. ‎Addressing the State House of Assembly in Maiduguri, the Governor announced that the draft, titled, ‘Budget of

Headlines News

Judicial stakeholders seek consolidated revenue fund

Ihesiulo Grace 29 December 2017 0

…Catholic faithful flay kidnappers’ interest-in fathers, sisters Stakeholders in the administration of justice Thursday sought for financial independence for the judiciary, stating that the amount of credit standing to the arm should be paid directly to the Heads of court from the Consolidated Revenue Fund in line with Section 121 (3) of the Constitution of […]

Business

FG Approves N1.5bn Advert Bill To Drive $1bn Tax Revenue

Ihesiulo Grace 30 November 2017 0

In pursuit of its vision to diversify the economy and discourage Nigeria’s reliance on oil as the mainstay of the economy, the Federal Executive Council (FEC) wednesday approved N1.5 billion to drive projected $1 billion tax revenue within nine months. The Minister of Finance, Mrs. Kemi Adeosun, who made this disclosure while briefing State House […]

Business

Revenue target: FIRS rakes N3.2trn in 10 months – Fowler

Ihesiulo Grace 28 November 2017 0

The Executive Chairman of Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has said that the revenue agency has achieved 79.35 per cent of its collection target for 2017, represented total generated amount of N3.233 trillion in 10 months. The revenue collector boss, disclosed this on yesterday at interactive session for review of 2018–2020 Medium […]

Business

N91m tax default: Lagos seals 18 hotels, event centres

Ihesiulo Grace 20 November 2017 0

The Lagos State Internal Revenue Service (LIRS), has shut 13 hotels, restaurants and event centres for failure to pay their taxes due under the Hotel Occupancy and Restaurant Consumption Laws of Lagos State 2009. The hotels and restaurants were said to be owing the state a sum of N426,976,528.87. Speaking on the state-wide tax enforcement […]

Business

#2018Budget: FG’s N6.6trn revenue projection, ‘very optimistic’ says BudgIT

Ihesiulo Grace 8 November 2017 0

Nigeria’s revenue projection of N6.6tn in the presented 2018 budget has been termed as ‘very optimistic’ by BudgIT, a Lagos based analytical firm committed to simplifying the budget and matters of public spending for citizens, with the primary aim of raising the standard of transparency and accountability in government. Giving reasons for this observation, the […]

Anambra Times

IGR: Anambra hits N1.5b monthly revenue

Ihesiulo Grace 30 October 2017 0

Managing Director, Awka Capital Territory Development Authority, Mr. Michael Okonkwo, says the monthly internally generated revenue of the state has increased from N500 million to N1.5 billion. Okonkwo told the News Agency of Nigeria (NAN) in Awka on Saturday that the Authority`s revenue profile also increased from N13 million to N20 million monthly. He said […]

Headlines News

25 agencies failed to remit N1.69trn to FG – Senate

Ihesiulo Grace 24 October 2017 0

The Senate ad hoc committee, has disclosed in a report that 25 government agencies have failed to remit N1.695 trillion revenue to the consolidated revenue fund. The committee also disclosed that the Nigerian National Petroleum Corporation (NNPC) was running on a deficit of about N3.115 trillion between 2012 and 2016. NAN reports that the committee […]

Features

Institutional corruption: NNPC and JAMB as metaphors

Ihesiulo Grace 20 October 2017 0

Following disparity in the remittances of Joint Admissions and Matriculation Board (JAMB) and the Nigerian Maritime Administration and Safety Agency (NIMASA) in the past and now, the Federal Government ordered the probe of the past heads of the agencies, having smelt seedy misdeeds. While many have hailed the decision of the Federal Government, a handful […]

Business News

FG to spend N15bn on mining in 2018 – Fayemi

Ihesiulo Grace 19 October 2017 0

In a bid at boost the dwindling revenue from crude oil, the Federal Government has earmarked N15bn for the exploration of solid minerals across the country comes next year. This is, according to the Minister of Mines and Steel Development, Dr. Kayode Fayemi, who made this known during the opening session of the second edition […]

Business Headlines

NNPC did not remit N3.88trn to FG in 2015- Audit report

Ihesiulo Grace 5 September 2017 0

Cumulative unremitted revenue from domestic crude oil sales by the Nigerian National Petroleum Corporation, NNPC, stood at about N3.878 trillion as at December 31, 2015, a report by the technical sub-committee of the Federation Accounts Allocation Committee, FAAC, has revealed. The report, which formed part of the submissions in the 2015 Annual Audit Report of […]

Maritime News Nigeria

NIMASA seeks synergy with NCS

Ihesiulo Grace 24 February 2017 0

• Says partnership’llaideconomic growth The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has expressed the willingness of the agency to partner with the Nigeria Customs Service (NCS) to bring the desired growth and development to the Nigerian maritime industry and by extension the Nigerian economy. The proposed

Tech

EMEA Cloud IT infrastructure revenue raises 19.5% in Q3 2016 – IDC

Ihesiulo Grace 24 January 2017 0

International Data Corporation (IDC) WW Quarterly Cloud Infrastructure Tracker indicates IT infrastructure spending (server, disk storage, and Ethernet switch) for public and private cloud in Europe, the Middle East, and Africa (EMEA) grew 19.5 percent year on year (YoY)to reach $1.5 billion in revenue in the third quarter of 2016. The cloud-related share of total […]

Sports

Man United top Deloitte Money League ahead of Barcelona and Real Madrid

Ihesiulo Grace 20 January 2017 0

Manchester United generated the most revenue of any football club in the world last season, according to a report published by Deloitte. United dethrone Real Madrid – who held top spot for 11 years – after accumulating a record revenue of 689m euros (£515m) during the 2015-16 term. The Premier League club saw commercial revenue […]

Headlines News

Recession: Lagos generated more revenue In 2016 -Ambode

Ihesiulo Grace 20 December 2016 0

Lagos state governor, Mr. Akinwunmi Ambode, on Sunday hailed tax payers in the state for performing their civic obligations faithfully, saying the state recorded more Internally Generated Revenue (IGR) in 2016 than what was recorded in 2015 despite economic recession in the country. As at December 16, 2016, the state had raked in N287 billion […]

Business Capital Market

Interlinked Technologies revenue declines by -30%

Ihesiulo Grace 23 November 2016 0

…records 207% Q1 loss   The challenging operating continued to weaken performances of listed companies as earnings sustain declining trend while operating expenses expand. Interlinked Technologies loss for the Q1 period grew by -207 per cent. Finance cost by 33 per cent, to N1.3bn from N980m in Q1 2015, profit before tax dropped by 207 […]

Business

GTBank records revenue of N75.4bn for 1Q 2016

Ihesiulo Grace 22 April 2016 0

Guaranty Trust Bank plc has released its unaudited financial results for the first quarter ended March 31, 2016 to the Nigerian and London Stock Exchanges.   A review of the 1Q 2016 result shows that the Bank continued to consolidate on its position as one of the most profitable and well managed financial institutions in […]

Law

It’S a Shame Lawmakers Are Law Breakers – Agbakoba

Ihesiulo Grace 28 April 2015 0

Chief Olisa Agbakoba, a Senior Advocate and former President, Nigerian Bar Association (NBA) in this interview with PETER FOWOYO, took a swipe at the members of the National Assembly for the outrageous salaries being paid to the lawmakers by the Revenue Fiscal and Mobilization Committee and quickly call on the President-elect to revert same without […]