NNPC Faces Scrutiny Over N514bn Transactions   The Office of Auditor-General for the Federation has exposed significant financial irregularities in the Nigerian National Petroleum Company Limited's operations for 2021, totaling N514 billion. These infractions include unauthorized deductions, misappropriation of funds, and delayed remittance of earnings to...

Nigeria's Debt Profile to Exceed N13tn Target   The federal government's borrowings are expected to surpass the initial N13 trillion target to cover the budget deficit in 2025. Analysts at Afrinvest Research, in their 2025 Outlook Report, projected that net issuances of at least N13.7tn may be...

NELFUND Disburses N23bn to Tertiary Institutions, Individuals The Nigerian Education Loan Fund (NELFUND), the official federal government agency in charge of student loans in Nigeria, has disbursed a total of N23 billion to several individuals and 128 tertiary institutions in Nigeria. Speaking to senior journalists in...

FG Begins New Withdrawing Tax Policy  The Federal Government has commenced the implementation of the 2024 Withholding Tax Regulations, signalling effort to modernise Nigeria’s tax system. Approved by President Bola Tinubu in July 2024 and published in the Official Gazette in October, the revised regulations became...

FG Allocates N53bn for Renovation of 103 Foreign Missions   The Federal Government has allocated N53 billion for the renovation of 103 foreign missions, aiming to upgrade various facilities including chanceries, staff quarters, ambassadors' residences, office furniture, and official vehicles. Allocations include N554m for the foreign mission in...

Tax Burden Reduced for 90% of Public, Private Sector Workers - Oyedele   The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has maintained that over 90 per cent of workers in the public and private sectors would be paying lower...