FG Recorded N13.33bn Revenue Loss From Gas Flaring Fines   The Federal Government recorded a revenue shortfall of N13.33bn from gas flaring penalties issued against oil and gas firms in January and February 2023. It was earlier reported that the Federal Government would impose $49m (N22bn) fine...

NPA Rakes In N191bn Revenue In Six Months   The Nigerian Ports Authority (NPA) has said 1,852 vessels completed operations in the first half of 2023. The authority said it generated N191.4bn as revenue within the period under review. It added that N55.7bn was remitted to the consolidated...

Reps To Probe NNPCL Over Non-remittance Of Revenue   The House of Representatives is set to commence investigations into non-remittance of revenues to the federation account by the Nigerian National Petroleum Company Limited (NNPCL). This followed the adoption of a motion, ‘Need to investigate the non–remittance of...

Nigeria Spends Over 99% Revenue On Debt Servicing   Nigeria’s grave fiscal position for the 2022 financial year became clearer, as latest data showed that of N4.26 trillion total revenue available for financing the 2022 budget in the first three quarters of last year, a colossal...

We Are Not Merging Revenue Generating Agencies — Fed Govt   The federal government has disclosed that it has no plans to merge revenue-generating agencies as speculated in some sections of the media. President Bola Tinubu’s special adviser on revenue, Zacchaeus Adedeji, made the clarification during an...

NERC Reveal Why DISCOs Recorded 40% Revenue Loss   The Nigeria Electricity Regulatory Commission (NERC) has urged Distribution Companies (DisCos) to make investments in infrastructure upgrades, modernise their metering systems and improve revenue collection methods, to ensure better efficiency and more revenue. This position was contained...