MTN Records N329.2bn Revenue Rise     MTN Nigeria reported revenue growth of 16.7 per cent to N329.2bn in the first quarter ended March 31, 2020 compared with N282.1bn in the same period in 2019. The growth, according to the unaudited first quarter report of the company, was...

Airlines Projected Revenue Loss Increases To $314bn     The International Air Transport Association says airline passenger revenues drop has risen to $314bn as impact of COVID-19 bites harder. IATA, in its updated analysis on Tuesday, said airlines would record a 55 per cent decline in revenue compared...

Debt Service To Revenue Ratio Rises To 48%     The revision of the 2020 revenue framework has raised the Federal Government’s debt service to revenue ratio from the initial 29 per cent to 48 per cent. The Executive last Wednesday sent a revised 2020 budget proposal to...

Tin-Can Customs Rake In N31.7bn In March     Tin-Can Island Port Command of the Nigeria Customs Service (NCS) says it generated a total of N31.7 billion as revenue in the month of March 2020, representing about N5.220 billion higher than its collections in the same month...

Fed Govt Revokes 11 Oil Mining Licences As Revenue Shrinks     The Federal Government has revoked the mining licences of about 11 oil and gas companies operating in the marginal fields. It was learnt that the affected companies include, Movido – Ekeh, Goland – Oriri, Independent Energy...

FG To Cut FIRS’ N8.5trn Target   The Federal Government is revising the non-oil revenue projections, including various tax and customs receipts. This means the N8.5trillion target set for the Federal Inland Revenue Service (FIRS) will be slashed at the end of the review. Minister of Finance, Budget...