Customs Recover N426m Unremitted Revenue From Importers       The Nigeria Customs Service (NCS) has recovered N426 million revenue that was not remitted by some importers at the Lagos Port Complex. The Coordinator of the Strike Force of the Comptroller General, Deputy Comptroller, Ahmadu Shuaibu, who stated this...

Bakers Hike Bread, Biscuits Prices By 30% Nationwide       The Association of Master Bakers and Caterers of Nigeria (AMBCN), has directed its members nationwide to increase the prices of bread, biscuits and other baked items by 30 percent over the rising cost of production. The directive was...

COVID-19, Forex Forced 415 Firms Out Of Production – MAN       The foreign exchange restriction by the Central Bank of Nigeria and the COVID-19 pandemic forced 415 companies to stop manufacturing in the last one year, the Manufacturers Association of Nigeria has said. The Director-General, MAN, Mr...

NCS Intercepts Used Vehicles, Smuggled Rice Worth N1.3bn in Q1, 2021       The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone C, has announced that it intercepted contraband and raised a debit note (DN) worth N1.3 billion in the first three months of 2021. In a...

2021 Budget: Increasing IGR To Stave Off Debt Accumulation         Two things that stood out in President Muhammadu Buhari’s 2021 budget presentation at the National Assembly last week are the desire to steer the economy away from racking up debts to increasing its revenue generation capacity...

NAFDAC Reduces Registration Cost For MSMEs By 80%     To mitigate the economic impact of COVID-19 on Micro, Small and Medium Enterprises (MSMEs) in Nigeria, the National Agency for Food and Drugs Administration and Control (NAFDAC) has reduced tariff for registration of products by small businesses...