Business

The internal revenue generated released based on the 2023 details emerged, the details Ranks according to states. Lagos: N815.86bn FCT: N211.10bn Rivers: N195.41bn Ogun: N146.88bn Delta: N114.09bn Edo: N64.67bn Kaduna: N62.49bn Kwara: N59.64bn Oyo: N52.75bn Akwa lbom: N43.18bn Ondo: N41.50bn Kano: N37.38bn Enugu: N33.86bn Anambra: N33.46bn Ekiti: N32.10bn Cross River: N31.56bn Ebonyi: N30.84bn Bauchi: N30.58bn […] More

Petrol marketers have revealed the consequences following the dwindling sales and revenue at retail outlets nationwide. The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, and Independent Petroleum Marketers Association of Nigeria (IPMAN) spokesman Ukadike Chinedu made the revelation on Channels Television’s The Morning Brief. POLITICS NIGERIA reports […] More

Bitter kola, also known as Garcinia kola, is gradually becoming one of the highly sought products in Nigeria and other countries across the world. The nut is occasionally eaten by a few people, especially in the northern part of Nigeria as the region doesn’t grow it much, and it was initially sold cheaply as against […] More

As Nigeria grapples with escalating economic challenges, the focus on women’s empowerment has intensified in the country. At the recent International Women Power Conference 2024 held in Abuja, Dr. Rebecca Omokamo Godwin-Isaac, the Chief Executive Officer of Homadil Realty Ltd, delivered a compelling keynote address on the theme “The Resilient Woman.” She urged women to […] More

The details of the new Nigeria Revenue Service (Establishment) Bill. Change of name from Federal Inland Revenue Service to Nigeria Revenue Service. Objectives: To better reflect the mandate of the Service as the revenue agency of the Nigerian Federation and not for only the Federal Government. Focuses on Establishment: – Tax administration provisions removed. – […] More

The details of the new Nigeria Tax Administration Bill (NTAB): Payment of taxes: – Remittance date for all transaction taxes: To promote the ease of tax administration and lessen tax compliance burdens. – Taxpayers may pay tax or royalty assessed in other currencies including petroleum operations) in Naira: To lessen pressures on FX demands. To […] More

The bill to establish a Nigerian Coast Guard aimed at protecting Nigeria’s maritime areas has passed its second reading in the Senate. VAT rate proposed for phased-review as follows, in: – 2024, remains at 7.5% – 2025, moves to 10% as CIT rate reduces to 27.5% – 2026, moves to 12.5% as CIT reduces to […] More

MTN Nigeria and other multinational business leaders have urged the Federal Government to establish a fair, competitive environment that would allow businesses to maintain their investments within the nation. The business operators lament that the government has not allowed them to increase their prices in the last ten years, stating that such policy must be […] More

Nigeria’s currency, the Naira, experienced a significant appreciation yesterday, gaining N10 against the US dollar in the parallel market to trade at N1,680 per dollar. LeadNaija reports that this marks a notable improvement from last weekend’s rate of N1,690 per dollar. In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira also strengthened, reaching N1,552.92 […] More

The Central Bank of Nigeria has revealed plans to implement an Electronic Foreign Exchange Matching System, which is intended to revolutionize the nation’s foreign exchange market. The new system is planned to be launched in the Nigerian Foreign Exchange Market on December 1, 2024, after a two-week testing phase that will take place in November. […] More