How Nigeria Can Generate N10trn Tax Revenue - W/Bank       The World Bank has advised the federal government to focus on low-hanging and revenue-yielding fruits in order to achieve substantial gains, grow Nigeria’s tax-to-GDP ratio to about seven per cent and rake in about N10 trillion...

Nigeria Likely To Earn N462bn From EMT Levy In 2021       The World Bank has said Nigeria is likely to make N462bn the electronic money transfer levy as a source of stable revenue in 2021. The multilateral institution said this in its ‘Resilience through Reforms’ report. According to...

Insurance Industry Assets Now N2.02trn       Insurance companies’ gross written premium rose to N520bn as of the end of 2020, while their assets hit N2.02tn as the sector undergoes recapitalisation. The Nigerian insurance industry’s asset rose by N401bn to N2.02tn as of the end of 2020 from...

Nigeria Earned N79.96bn From Solid Minerals – NEITI       The Nigeria Extractive Industries Transparency Initiative (NEITI) says Nigeria earned N79.96bn from the solid minerals sector in 2019, according to its 2019 audit report on the sector, released on Sunday, in Abuja. It said that the figure, which...

FG Borrowed N1.3trn In Four Years To Subsidise Power Consumers - W/Bank     The Federal Government has borrowed a total of N1.3tn since 2017 to ensure that generation companies and gas suppliers received enough payments to continue generating electricity, the World Bank has said. The bank said...

Despite COVID-19, Africa Records $80bn Diaspora Remittances       Diaspora remittances to Africa as a whole have increased to over $80 billion despite the COVID-19 impact on economies worldwide, and against the backdrop of a fall in remittances worldwide. However, remittances to Nigeria dropped by 27.7 percent in...