Despite Forex Shortage, Nigeria’s Imports Increase By N12.11trn   According to the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS) data, Between 2016 and 2021 Nigeria’s import bill rose from N8.73trn to of N20.84trn. This implies that within the five-year period, imports...

Banks Borrowing From CBN Decline By 0.45% In Q1, 2022   Banks borrowing from the Central Bank of Nigeria (CBN) dropped marginally by 0.45 per cent to N1.35 trillion in the first quarter of 2022 compared to N1.36 trillion reported by the apex banking regulating body...

Senate To NUPRC: Stop IOCs Evading Tax From Lifting Crude Oil   The Senate Committee on Finance has asked the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to stop international oil companies (IOCs) evading tax from lifting crude oil. The panel said the move has become imperative...

Fed Govt Bars 10 Firms, Grants Three-year Tax Relief To 33 Companies   The Federal Government approved the application of 33 companies seeking pioneer status under the Industrial Development Income Tax Act in 2021. This was contained in the quarterly PSI reports released by the Nigeria Investment...

N157bn Released To Fund Second Niger Bridge – Ahmed   The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has disclosed that the federal government has so far released N157bn for the Second Niger Bridge project. The minister disclosed this while on an inspection of...

Two million People’ll Start Receiving N20bn Monthly From June, Says FG   Two million people will start receiving about N20bn from June this year as basic cash transfers and conditional cash transfers under the National Cash Transfer Programme, the Federal Government has said. It was gathered that...