Telecom Subscribers to Pay 5% Tax on Call, Text, Data - FG The Federal Government has disclosed that telecommunications subscribers would pay five per cent tax on calls, SMS and data services. Meanwhile, stakeholders in the industry have expressed dissatisfaction over government’s resolve to implement five...

FG, States Share N802bn As FAAC Allocation Rises By 18%   The federal, state and local governments shared N802.407bn as federation allocation for the month of June, 2022. This represents 18 per cent increase from N681bn shared in May. The sharing decision was reached at Federation Account...

Debt Profile: Revenue Generation Is Nigerian Govt’s Main Challenge – DMO   The Debt Management Office (DMO) says revenue generation is a major constraint of the Federal Government and impacts the country’s debt situation negatively. The Director-General of the DMO, Patience Oniha, said this in a telephone...

Inflation May Worsen As FG’s Borrowing From CBN Hit N19trn   The Federal Government’s total borrowing from the Central Bank of Nigeria (CBN) through Ways and Means Advances rose from N17.46tn as of December 2021 to N19.01tn as of April 2022. According to data from the CBN,...

Crude Oil: FG projects $289bn Local Refining in Five Years The Federal Government has revealed that it is targeting local refining of over 2.555 billion barrels of crude oil worth over N120trn in the next five years. According to a report by Punch, the Executive Secretary...

17 Years After, FG Seeks Investors For Abandoned Brass LNG Project   The federal government is shopping for new investors to revive the stalled Brass Liquified Natural Gas (BLNG) project, just as the Minister of State Petroleum Resources, Chief Timipre Sylva, pledged the government’s commitment to...