Report Reveals Real Estate Sector Paid N70bn VAT In Five Years   Value Added Tax (VAT) generated from the construction and real estate sector rose by 124 per cent from N10bn in 2018 to N22.45bn in 2022. An analysis of the National Bureau of Statistics’ quarterly VAT...

Report Revealed Debt Servicing Rose To N1.24trn In Q1, 2023   Nigeria’s debt servicing cost has increased by 55.71 per cent to N1.24tn in three months. According to data obtained from the Debt Management Office, between October and December 2022, Nigeria spent N406.77bn on domestic debt...

FG Says Discos Failed To Remit N208bn In 2022   Power distribution companies failed to remit a total of N208.8bn to the Nigeria Electricity Supply Industry in 2022, the Federal Government has said. Figures obtained on Sunday from the latest Fourth Quarter 2022 Report of the Nigerian...

CBN, Bill Gates Foundation Partner On Financial Inclusion   The Central Bank of Nigeria (CBN) and the Bill and Melinda Gates Foundation have finalised the plan to drive financial inclusion in the country. According to a statement from the apex bank on Sunday, the two groups recently...

N15trn Pension Assets, Proof Of CPS’ Effectiveness – PenCom The National Pension Commission (PenCom) has described the Contributory Pensions Scheme (CPS) introduced in 2004 as a very successful initiative, having consistently grown the nation’s pension assets from N2 trillion at inception, to N15 trillion today. The...

FIRS To End Multiple Taxation, Collect VAT The Federal Inland Revenue Service says it has commenced an initiative to end multiple taxation and collect Value Added Tax (VAT) from Market Traders Association of Nigeria (MATAN) and other informal sector operators. The association, with a membership of...