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...

LIRS Extends Deadline For Filling Annual Returns To June 30   Lagos State Government through the Lagos State Internal Revenue Service says it has extended the deadline for filing of annual tax returns to June 30, 2020. A statement from the LIRS’s Head, Corporate Communications, Monsurat Amasa,...

83% Businesses To Reduce Salaries, Downsize Over Revenue Losses   Although the lockdown may have been relaxed, the impact on businesses may lead to further high unemployment, reduction in consumers’ purchasing power as the latest survey by the Lagos Chamber of Commerce and Industry (LCCI), shows...

Nigeria Loses N125bn Oil Revenue To COVID-19      Nigeria’s oil revenue target fell by N125.52 billion in the first quarter (Q1, 2020) to N940.91 billion, according to figures released yesterday by Minister of Finance, Mrs. Zainab Ahmed. The shortfall, attributed to the double whammy of the headwind...