Senate Probes NNPC’s Alleged Failure To Remit 10-year Stamp Duty       The Senate has launched a large-scale probe into the alleged non-remittance of the one per cent stamp duty on contracts awarded by the Nigerian National Petroleum Corporation from 2010 to 2020. The Committee on Finance, which...

Electricity Act Will Instill Sanity In Power Sector – Senate         The Senate has assured Nigerians and critical stakeholders in the power sector that the bill being considered by the National Assembly to amend the Electricity Act, will instill sanity in the sector when passed. The Chairman,...

Senate Mulls New Bill Assigning NIPOST Stamp Duty Collection       The Senate Committee on Communications on Monday held a public hearing on two bills. One of the proposed legislation, among others, empowers the Nigerian Postal Service to collect stamp duty for the Federal Government. NIPOST and Federal Internal...

Should Senate Tackle Customs for Rice Seizure?, by Zubaida Baba Ibrahim       Despite being Africa’s highest producer of rice, Nigeria spent an average of $4.2bn on its importation. These statistics were the basis on which the ban on rice importation was implemented in 2019. The importation ban...

Fresh N2.34trn Loan Is For Capital Projects, Says DMO       The Debt Management Office on Tuesday said the request by President Muhammadu Buhari for the National Assembly’s approval for fresh N2.34tn loan was meant to provide funds for capital projects such as power, transport, agriculture and...

Buhari Seeks Senate Approval For $6.183bn External Loan     President Muhammadu Buhari has sought the approval of the Senate for an external loan of 6.183 billion dollars, to fund the deficit of N5.602triillon in the 2021 Appropriation Act. This is contained in a letter addressed to the...