FAAC Records N1.594trn In September, Disburses N903bn To 3 Tiers Of Govt
The Federation Account Allocation Committee (FAAC) has announced a N1,594,763 trillion revenue from September 2023. This the second time the government is having higher revenue accrual since removal of fuel subsidy in May. FAAC said in a statement that it approved a total sum of N903.480 billion from the available revenue for disbursement to federal […]
FG reduces port terminal charges by 33%
THE Federal Government through the Nigerian Shippers Council, NSC, yesterday reduced port terminal charges by 33 per cent from to 400 per cent to 600 per cent of storage. But the FG increased bulk cargo charges by 100 per cent from 125 per cent to 250 per cent. The changes were highlights of a meeting between […]
FG seeks $10bn to fund SDGs
The Federal Government is now going cap-in-hand in search of over $10 billion annually to finance the Sustainable Development Goals (SDGs) budget for the year. This was even as the budget of both federal and sub national governments put together can’t match half of the fund needed to implement SDGs in Nigeria. The Senior Special Adviser to the President […]
Tax exemptions, waivers to cost FG N12.4trn in 4 years
A whopping N12.384 trillion will be forgone by the Federal Government (FG) as tax waivers, concessions and incentives in the four years (2023 – 2026). Beneficiaries of these revenue losses include big corporations, start-ups and politically exposed individuals (diplomats). Revenue forgone is a measure of government revenue lost to various waivers and concessions, including tax holiday, import duty […]