COVID-19 Cut Off 40% Of Our Revenue - Osinbajo     The Federal Government’s revenue fell by 40 per cent due to the impact of COVID-19 pandemic, the Vice President, Prof. Yemi Osinbajo, said on Tuesday. The Senior Special Assistant to the President on Media and Publicity, Office...

Why Budget Increased Despite Dropping Revenues – Presidency   The Senior Special Assistant to the President on National Assembly Matters (House of Representatives), Umar El-Yakub, has said the decision of the Presidency to increase the budget despite drop in revenue was meant to mitigate the impact...

Rising Inflation Threatens FG’s N5.1trn Revenue Target     The drive by the federal government (FG) to raise its revenue this year to N5.08 trillion, is now threatened by sustained inflationary pressure. The government had hoped to ramp up the revenue target with the increase in the Value...

Nigeria’s Fiscal Crisis Due To Low Revenue, Says IMF     The International Monetary Fund has said Nigeria’s major fiscal challenge is its “very low revenue” and not so much of its debt profile. The low revenue, it explained, had led to low debt-servicing capacity and limited funding...

NIMASA Targets N1bn Monthly Revenue From Floating Dock     The Director-General of the Nigerian Maritime Administration and Safety Agency, Bashir Jamoh, has declared that the newly acquired floating dock by the agency has the potential of generating N1bn monthly revenue. Jamoh who made this declaration during a...

Budget 2020: Low VAT Collections Threaten Revenue Projections     Plans by the fiscal authorities to bridge the 2020 deficit gap partly through the Value Added Tax (VAT) rate hike from 5% to 7.5% this fiscal year may be scuttled by the lingering lockdown occasioned by the...