Fresh reason emerges for special financial status for Lagos, but…
…As it rakes in 55% VAT for FG Apart from hosting 992 out of 994 that paid well over N10mn company tax throughout last year, Lagos has again scored first by generating 55 per cent in Value Added Tax (VAT)…
Stakeholders’ seek early release of unveiled $1m venture capital for creative industry
Recalling their experiences when former President, Goodluck Jonathan made similar pledge of multi million dollars support for the creative industry which never saw the light of the day, key stakeholders in the nation’s entertainment sector have called on the present…
FG sending conflicting signals on tax as agencies evade in states
Whereas the federal government has stepped up campaigns for Nigerians to pay taxes as and when due, there seems to be no corresponding compliance in paying taxes by several agencies of the federal government. Only recently, the Ministry of Finance,…
Economic recovery underway as FG dolls out N350bn to fast track recession exit
The federal government on Monday announced readiness to release N350 billion, being the first tranche for implementation of the 2017 budget. Giving the analysis at the public presentation of 2017 Appropriation Act in Abuja, the Minister of Finance, Mrs Kemi…
FG creates Community Tax Liaison Officers to raise tax awareness among citizens
…To recruit 7,500 graduates as tax advocates To drive tax education and seamless compliance amongst Nigerians, the Federal Government has concluded new plans to recruit 7,500 graduates as Community Tax Liaison Officers (CTLO) to raise tax awareness among citizens. Details…
Adeosun frustrating Osinbajo’s order to offset subsidy arrears to marketers, banks
A showdown coming from banks and independent marketers may be underway if the Minister of Finance, Mrs. Kemi Adeosun continues to delay the payment of over N800bn that accrued to petroleum marketers between 2014 and 2017. This is coming on…
Dropping compliance collapses Value Added Tax revenue to N204.77bn in Q1
Latest report from the National Bureau of Statistics (NBS) released on Tuesday has shown a trending drop in the total revenue generated by the country from Value Added Tax (VAT). The crash showed that VAT dropped from N207.35bn in the…
Creation of continental free trade area may kill surviving Nigerian industries—Expert
Contrary to the permutations of the Federal Ministry of Finance and the Nigerian Customs Service (NCS) that the enthronement of Continental Free Trade Area (CFTA) will grow manufacturing in Nigeria and the country will gain more from intra-African trade, leading…
If BoI is shopping for N1tn to assist SMEs, why is DBN established? —BH Analysis
Barely one month after the take off of Development Bank of Nigeria (DBN), indications have emerged that Bank of Industry (BoI) that had hitherto been dull in driving the growth of Small and Medium Enterprises (SMEs) has suddenly woken up….
CAC cert now compulsory for accessing all business deals with MDAs—Minister
As part of consolidation new drive for ease of doing business, the Federal Government has banned ministries, departments and agencies (MDAs) from transacting business with companies and other corporate bodies that are not duly registered by the Corporate Affairs Commission…
