Banks Offer Telcos N120bn Debt Repayment Plan   Telecommunication firms are considering a repayment plan proposed by Deposit Money Banks to end the N120bn debt on the Unstructured Supplementary Service Data service. A source said the Central Bank of Nigeria (CBN) was intervening in the dispute, and...

'Nigeria Loses N20trn To Tax Underpayment'   Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, has said tax gap in Nigeria hovers around N20 trillion. He, however, pledged the total commitment of the committee to bring about comprehensive and harmonised tax...

Floods Caused $7bn Economic Damage In 2022 – Shettima   The Federal Government has said the financial worth of direct economic damage in Nigeria caused by floods in 2022 is $7bn. On Tuesday, the government also said over 600 lives were lost as a result of the...

Tinubu Chases 18% Tax-GDP Ratio, Vows to Cut Borrowing President Bola Ahmed Tinubu has expressed his commitment to break the vicious cycle of overreliance on borrowing for public spending. The President said the resulting burden of debt servicing is not good for the country's economy. Inaugurating the...

FG Begins Harmonisation of Taxes, Inaugurates Committee Today The federal and state governments have commenced harmonisation and codification of taxes at the national and sub-national levels to eliminate multiple taxation and increase revenue. In line with this, President Bola Tinubu is also expected to inaugurate the...

Electricity Subsidy: FG Spent N36bn In Three Months – NERC   The Nigerian Electricity Regulation Commission (NERC) has said the federal government paid the sum of N36bn to subsidise electricity consumption in the first quarter of 2023. In its quarterly report, NERC said the money amounted to...