FCT Generated Over N126.5bn Revenue in Six Months The Federal Capital Territory Internal Revenue Service, FCT-IRS, has said it generated over N126.5 billion in the first half of 2024, H1’24, a 53.5 percent increase over the N82.45 billion collected in the corresponding period of 2023. Speaking...

FG Seeks $500m World Bank Loan For Water Resource Management The Federal Government has requested a $500m loan from the World Bank to improve dam safety and enhance water resource management across the federation. This loan is expected to address the country’s water security challenges and...

SERAP Sues CBN Over Failure to Account for N100bn 'Bad Notes' Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) “over the failure to account for and explain the whereabouts of the over N100 billion ‘dirty and...

Crude Oil: Nigeria’s Average Daily Production Stands at 1.6mb – NUPRC The chief executive officer (CEO) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, says the country’s average daily production stood at 1.6 million barrels per day (mbpd) as of July 23. Komolafe spoke...

Experts Back FG’s 70% Windfall Tax on FX Gains The Association of National Accountants of Nigeria (ANAN) and the Chartered Institute of Taxation of Nigeria (CITN) have pledged their support for the government’s recent initiative to impose a 70% windfall tax on foreign exchange (FX)...

FG’s Revenue Surpassed Budgetary Target – Finance Minister The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the Federal Government’s revenue for the first half of 2024 has surpassed its budgetary targets. Edun, who announced this at a press briefing...