Nigeria Loses N585bn Annual Leather Revenue To Other Countries   Nigeria loses at least N585 billion of yearly leather product revenue to other countries, an estimated 90 per cent of the N650bn revenue stream, the Minister of State for Science, Technology and Innovation, Barrister Mohammed Abdullahi,...

Buhari, Experts Disagree On Borrowings As Debt Servicing Gulps 76% Of Revenue   The Federal Government on Wednesday disclosed that it spent N4.2tn on debt servicing between January and November 2021. This sum represents 76.2 per cent of the N5.51tn revenue generated during the period under review. The...

Customs Generate N2.5trn Revenue In 11 Months   The Nigeria Customs Service (NCS) generated over N2.5 trillion revenue between January and November this year. NCS National Public Relation Officer, Timi Bomadi said, the agency was given N1.679 trillion revenue target for this year, based on its last...

Finance Bill: RMAFC, FIRS Disagree Over Power To Collect, Monitor FG’s Revenue   The Chairman, Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) Ellias Mbam yesterday disagreed with the Chairman of the Federal Inland Revenue Service (FIRS), Dr Muhammad Nami over powers granted the latter to collect...

Fed Govt Revenue Drops By 52% Amid Rising Spending   The Federal Government recorded a fiscal deficit of N405.28bn in August, the Central Bank of Nigeria said in its economic report. It said the government’s aggregate expenditure was N781.61bn while retained revenue stood at N376.33bn. The report said...

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...