Customs Generate N17.565bn From Undervalued, Smuggled Items   The Federal Operations Unit (FOU), Zone A of the Nigeria Customs Service at the weekend reported that it collected about N17 billion from wrong classification of goods by importers. The unit listed the seized items during the period under...

Capped Tariff Costing DisCos N14bn Monthly     The power sector is denied N13.9bn revenue monthly as a result of the capping on estimated electricity bills by the Nigerian Electricity Regulatory Commission, power distribution companies stated on Thursday. Electricity distribution companies are the revenue collection outfits of Nigeria’s...

Nigeria’s Debt Now N28.63trn     Nigeria’s total debt portfolio stands at N28.63trillion as at 31st March, 2020, the National Bureau of Statistics has disclosed. Its website report titled “Nigeria domestic and foreign debt first quarter 2020,” said in the period under review, the country’ domestic debt hits...

NDDC’s IMC Spent N81.5bn In Eight Months, Says Senate Panel     The Interim Management Committees (IMC) of the Niger Delta Development Commission (NDDC) spent N81.5 billion in eight months, the Senate has been told. Out of the sum, the Prof. Kemebradikumo Pondei-led management expended N59.1 billion between...

In Kaduna, Customs Impound Contrabands Worth N1.667bn   The Comptroller, Federal Opýerations Unit (FOU) Zone B Kaduna State of the Nigeria Customs Service, Mustapha Sarkin- Kebbi, said the zone made seizures of smuggled goods worth over N1 billion from January to June this year. The comptroller who...

NNPC Remits N1.7trn To FAAC In One Year   The Nigerian National Petroleum Corporation (NNPC) paid about N1.7 trillion to the Federation Account Allocation Committee (FAAC), between February 2019 and February 2020, the national oil company has said. Figures from its full monthly financial report revealed that...