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...

Ground Handling Companies Predict N20bn Revenue Loss     The Association of Aviation Ground Handlers (AGHAN) has predicted loss of about N20 billion for operators in the sub-sector by the end of June, due to the lockdown. The association said its members have been had hit by the...

Airtel Nigeria Records $1.37bn Revenue, 41.8m Subscribers     Airtel Nigeria reported a revenue growth of 24.1 per cent to $1.37bn in the year ended March 31, 2020, up from $1.11bn reported a year earlier. This growth, according to the company, is driven by 15.1 per cent voice...

Debt Servicing May Gulp 75% Govt Revenue By 2024   A report published by the World Bank has projected that debt servicing will take up about 75 per cent of Federal Government’s revenue by 2024. The report entitled ‘State debt management in Nigeria: Challenges and lesson learned’,...