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...

FG Suffers N1.01trn Revenue Shortfall   The negative impact of the Coronavirus pandemic has resulted in the Federal Government recording a revenue shortfall of about N1.01tn in the first quarter of this year. The drop in revenue, according to documents obtained by thewhistler.ng from the Budget Office...

Nigeria’s Oil Revenue To Drop By N140bn Following OPEC Cut     The revenue accruable to the Federal Government from the sale of crude oil is estimated to drop by a cumulative sum of about N140bn in May and June this year following oil production cuts by...

Stamp Duty Revenue Projection Reduced To N200bn     The FIRS said it has deployed technology to increase its tax base as well as improve the collection process. FIRS Executive Chairman, Muhammad Nami, noted, however, that accessing and collecting tax depend largely on the performance of the economy...

Oil Revenue May Drop Further To 25% Of Budget     With Nigeria’s revenue from oil and gas dropping by N425.52billion in the first quarter (Q1) of 2020 to N940.91billion, according to the Minister of Finance, Budget and National Planning, Zainab Ahmed, operators have noted revenue from...

Dangote Cement Records N249bn Revenue, N88bn Profit     Dangote Cement Plc has posted a strong performance in the first quarter (Q1) ended March 31 2020, with revenue rising to N249.182 billion, up from N240.157 billion in the corresponding period of 2019. Profit Before Tax (PBT) appreciated...