Nigeria Spends Over 99% Revenue On Debt Servicing   Nigeria’s grave fiscal position for the 2022 financial year became clearer, as latest data showed that of N4.26 trillion total revenue available for financing the 2022 budget in the first three quarters of last year, a colossal...

We Are Not Merging Revenue Generating Agencies — Fed Govt   The federal government has disclosed that it has no plans to merge revenue-generating agencies as speculated in some sections of the media. President Bola Tinubu’s special adviser on revenue, Zacchaeus Adedeji, made the clarification during an...

NERC Reveal Why DISCOs Recorded 40% Revenue Loss   The Nigeria Electricity Regulatory Commission (NERC) has urged Distribution Companies (DisCos) to make investments in infrastructure upgrades, modernise their metering systems and improve revenue collection methods, to ensure better efficiency and more revenue. This position was contained...

NNPCL Subsidiary Generates N256bn - Report   The Nigerian National Petroleum Company Retail Limited, a retail subsidiary of the NNPC Limited group, raked in total revenue of N255.6bn in its 2022 financial year, data from the report on key achievements in 2022 by NNPCL downstream directorate...

IMF Tasks New Govt on Revenue Generation, Debt Reduction The International Monetary Fund (IMF) has urged the incoming government of President-elect, Sen. Bola Tinubu to take steps to increase the country’s revenue base. The Resident Representative, IMF Nigeria Office, Ari Aisen, who said this during a...

CIBN Revenue Rises By 16% To N2.06bn In 2022   The Chartered Institute of Bankers of Nigeria (CIBN) said its revenue rose by 16.9 percent to N2.06 billion in 2022 from N1.76 billion in 2021. The Institute also said that its net assets and net operating surplus...