Nigerians To Pay VAT For Digital Services, Says Finance minister   Nigerians may have to pay more for digital services as the Federal Government has introduced a policy requiring foreign companies that provide digital services in the country to collect and remit Value Added Tax to...

Osinbajo, Panel To Meet NLC Over Subsidy Removal, Transport Palliative   The Minister of Finance, Budget and National Planning, Zainab Ahmed, says the Federal Government is determined to remove subsidy on Premium Motor Spirit, commonly known as petrol. She also said a panel chaired by Vice President...

TSA: FG Compiles List Of Erring Banks, MDAs For Sanction   In addition, the federal government has ordered all banks still holding on to government funds “to transfer all remaining balances in the accounts of Federal Government owned MDAs in their custody without express exemption to...

FG Says New Taxes, Tariffs May Be Imposed Soon     The Federal Government has indicated the possibility of introducing new taxes, tariffs and levies as part of measures to shore up its revenue. This is just as the Federal Ministry of Finance, Budget and National Planning has...

Despite FG’s Revenue Crunch, NIS Projected Passport Revenue Falls By 96%   The Nigeria Immigration Service has dropped its projected passport revenue from N27.18bn for 2021 to N1.03bn for 2022, an analysis of the proposed budgets of government-owned enterprises has shown. While N24.43bn was proposed as passport...

Fed Govt’s Deficit Spending Rises By 51% To N5trn   The deficit spending of the Federal Government, FG, rose by 51 per cent, year-on-year, YoY, to N5.1 trillion in seven months to July 2021, driven by rising non-discretionary spending on security and COVID-19 mitigation measures. The rise...