Fed Govt Targets More Revenue Through Cocoa Export – NEPC   The Nigerian Export Promotion Council (NEPC) has reiterated the Federal Government’s commitment to increasing cocoa production to 500,000 tonnes yearly with a view to making it contribute more to the country’s earnings. The Trade Promotion Advisor,...

TETFund’s Revenue Reduces By N60bn, Says Echono   The Tertiary Education Trust Fund (TETFund) has said that it recorded over N60 billion decline in revenue available for its operations. The Executive Secretary of the Fund, Sonny Echono, said this on Thursday in Abuja. This was when members of...

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...

Nigeria Spends 86% Of Revenue On Debt Servicing   Nigeria spent 86 per cent of its revenue on servicing debt in 2021, but South Africa spent only 20 per cent of its receipts on the same purpose. According to the International Monetary Fund’s 2021 Article IV estimates,...

FAAC Shares N725.571bn March Revenue To FG, States, LGCs   The Federation Account Allocation Committee (FAAC) has distributed to the Federal, State and Local governments a total of N725.571 billion for March 2022. It was presented in a communiqué issued at the end of a virtual meeting...

VAT Revenue Rises By 33% To N2.07trn   The National Bureau of Statistics (NBS) said the federal government generated N2.07 trillion as Value Added Tax (VAT) last year. This represents a 33 percent Year-on-Year (YoY) increase in VAT when compared to N1.55 trillion generated in 2020. Findings from...