Customs Revenue Rises, Rakes In N1.56trn In One Year         The Nigeria Customs Service on Wednesday said it generated N1.56tn in 2020. It said the amount generated was over the target of N1.38tn and over the sum of N1.34tn generated in 2019 despite the COVID-19 pandemic. The Comptroller-General...

Low Revenues, Poor Investments, Others Threaten Nigeria’s 2021 Growth – W'Bank       The World Bank has said that Nigeria’s growth is expected to resume by 1.1 per cent in 2021 from a contraction of 4.1 per cent in 2020. It also said the global economy would expand...

Fed Govt May Exceed N7.89trn 2021 Revenue Target As Oil Prices Soars         There are indications that the Federal Government may be on course to meet and perhaps, surpass the projected oil revenue target in the 2021 budget if the recent rise in the prices of...

Declining Revenue Raises FG’s Deficit To N1.3trn In Q3, 2020           The Federal Government (FG) recorded a 42 percent shortfall in revenue collected in the third quarter 2020 (Q3’20) which resulted in deficit spending of N1.29 trillion during the quarter. The deficit spending recorded in the period...

Senate Probes Alleged N1.2trn Revenue Loss To Oil Firm         The Senate on Tuesday constituted a seven-member ad hoc committee to investigate an alleged N1.2tn oil revenue loss to the Federal Government owing to an alleged breach by Sinopec Addax Petroleum. The ad hoc committee which is...

Insurers Pooled N938bn Investment Revenue       Despite the challenging operating environment in the country, insurance companies have recorded growth in investment income which has hit N938 billion. Economic Confidential finding showed that the life segment made over 60 per cent of the income as they have lots...