FAAC Shares 902.053 billion for November The Federation Account Allocation Committee (FAAC) has distributed 902.053 billion Naira to the Federal Government, States and Local Government Councils for November 2022. This was contained in a communiqué issued at the end of the Committee‘s meeting. The N902.053 billion total...

Manufacturers Seek Removal Of 7.5% VAT On Diesel   The Manufacturers Association of Nigeria (MAN) has called on the federal government to remove the 7.5 per cent Value Added Tax on Automobile Gas Oil pending the supply from international is normalised. The association also urged the government...

FAAC Rakes In N1.9trn In 3 Months Despite Non-Remittance By NNPC The Federal Accounts Allocation Committee has disbursed the sum of N1.99 trillion in the first quarter of 2022 despite zero remittance by the Nigerian National Petroleum Company Ltd, (NNPC). This comes in the wake of...

FAAC: N725.5bn March Revenue Shared By FG, States, LGAs The Federation Account Allocation Committee (FAAC) report reveals that N725.571 billion for March, 2022 revenue has been shared by federal, states and local governments. This revenue disbursement comprised distributable statutory revenue of N521.169bn and distributable Value Added...

Nigerians To Pay VAT For Digital Services, Says Finance minister   Nigerians may have to pay more for digital services as the Federal Government has introduced a policy requiring foreign companies that provide digital services in the country to collect and remit Value Added Tax to...

2022 Budget: Kaduna State Govt Targets N24.9bn VAT, N67bn IGR     Governor Nasir El-Rufai of Kaduna State, says the state expects an internally generated revenue of N67.26 billion and N24.9 billion Value Added Tax (VAT) which will be used to partly finance the state’s 2022 budget...