Reps Increase Customs’ Revenue Target To N1.6trn         The House of Representatives yesterday increased the revenue target of the Nigeria Customs Service (NCS) from N1.4 trillion to N1.6 trillion as expected revenue for the 2021 fiscal year. The House also approved about N257, 183, 671, 694. 71...

PenCom Raises PFAs’ Shareholders Funds To N5bn       The National Pension Commission has ordered the Pension Funds Administrators to raise their shareholders’ funds from N1bn to N5bn. Some operators disclosed this to our correspondent on Thursday. According to the commission, the total number of workers with pension accounts...

Nigeria May Lose $1bn Annually To Contaminated Food       Nigeria may lose $1billion yearly to the consumption of aflatoxin contaminated food that result in diseases such as liver cancer, stunted growth among other disease, a recent study says. To this end, stakeholders have urged the Federal Government...

'N120bn Intervention Will Address Nigeria’s Electricity Challenges'       Stakeholders in the electricity sector, yesterday, said the Federal Government’s intervention in the power sector, especially efforts being made to address challenges limiting the capacity of distribution companies (DisCos) is necessary to improve electricity supply. The experts also insisted...

Petroleum Products Worth N15.71bn Lost To Vandalism In 2020 – NNPC       Amid continued pipeline vandalism in the country, petroleum products worth N15.71bn were lost last year, according to the Nigerian National Petroleum Corporation. Data obtained from the NNPC showed that petroleum products worth N1.71bn were lost...

Local Airlines Spend N44bn Annually On Overseas Maintenance       Overseas maintenance of aircraft costs scheduled local airlines excess of N44 billion yearly. The capital flight, from a conservative estimate of about 70 operating airplanes, lately soared given the black market exchange rate of close to N500/$1. Stakeholders said...