Nigeria Spends N148bn On Refineries     Nigeria spent N148 billion in the last 13 months on three refineries but produced less than 40,000 metric tons of crude oil, a June report published by Nigerian National Petroleum Corporation (NNPC) has shown. It attributed the operational shortfall to the...

FIRS Targets N446bn From Stamp Duties     Tax payment remains the hardest civic responsibility for most citizens making tax collection challenging for agencies. At this period of economic turmoil triggered by COVID-19 pandemic, collection of taxes have also become more daunting. For instance, the Finance Act...

Nigeria Loses $55m Daily To Port Congestion     Widespread congestion at the Nigerian ports is costing the nation about $55 million (about N20.8 billion) per day, going by the latest report by Dynanmar. The Dutch consultancy firm said solutions to the persistent congestion at Nigerian ports are...

FG Secures $6.15bn For Nigeria’s Power Infrastructure     The Federal Government has disclosed that it has secured $6.15 billion for infrastructural development in the power sector. The Minister of Power, Engr. Sale Mamman, who disclosed this in his report – One Year Anniversary: Key achievements–obtained by Energy...

Contractors Picket Finance Ministry Over N18bn Debt     Indigenous contractors on Monday staged a protest at the headquarters of the Federal Ministry of Finance, Budget and National Planning to kick against the non-payment of their N18bn contract sum by the ministry. Speaking on behalf of the aggrieved...

AMCON Seeks NASS Support In N5trn Debt Recovery     As its debt portfolio continues to rise, the Asset Management Corporation of Nigeria (AMCON) has called on the National Assembly to support its efforts in recovering the debt of over N5 trillion from obligors. According to the Corporation,...