Economy
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FG agencies, parastatals to remit 50% gross IGR, says Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has directed all self-funded Federal Government Agencies/Parastatals (receiving no allocation from the Federal Government Budget) to remit 50per cent of their gross Internally Generated Revenue (IGR) to the Sub-Recurrent Account. He stressed that the remittance includes all statutory revenue line like tender fees, contractor’s registration, sales of…
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Online passport application to start on January 8, says minister
Nigerians will soon be able to apply for their passports online without any physical contact, according to the Minister of Interior, Olubunmi Tunji-Ojo. The minister confirmed on Monday that the passport application automation process will be operational from January 8, 2024. He made this announcement during an inspection of the Nigeria Immigration Service facilities in Abuja, with the Comptroller General…
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We’re borrowing less, relying more on revenue to finance 2024 budget – Wale Edun
The Federal Government says it would rely more on revenue and less on borrowing to finance the 2024 budget. This was stated by Minister of Finance and Coordinating Minister of the Economy, Wale Edun, while speaking to the media at the State House in Abuja on Monday after President Bola Tinubu signed the N28 trillion 2024 budget into law. Additionally,…
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Dangote Refinery receives fourth one million barrels of crude
Preparations are in top gear for the commencement of production in Dangote Refinery, as the petrochemical company has received the fourth crude shipment of, one million barrels of bonny light crude supplied by the Nigeria National Petroleum Corporation Limited (NNPCL), and expecting the fifth crude shipment, anytime from now. The fresh one million barrels of crude was the fourth consignment…
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FG needs to bring private sector investment into power transmission, LCCI urges
Lagos Chamber of Commerce and Industry (LCCI), on Monday, called on the federal government to consider bringing private sector investment into the transmission segment of the power sector. Director General, LCCI, Dr Chinyere Almona, responding to the President’s 2024 New Year address to the nation said the introduction of the private sector into the transmission of power would ensure adequate…
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In first 10 days, 163,878 Nigerians enjoyed FG transportation rebate
rogramme a huge success – Dele Alake The Chairman of the Committee on the Implementation of the End of Year Transportation Subsidy Programme of President Bola Ahmed Tinubu, Dr. Oladele Alake, has described the programme as a huge success, saying that it has benefited over 160,000 passengers across the country. Dr. Alake, who is also the Minister of Solid Minerals…
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COP23: New Siemens deal with Germany would improve electricity- Tinubu
President Bola Tinubu has stated that the recent electricity deal reached with the German energy power company, Siemens, during the COP 23 climate change event will help to improve the country’s weak power supply in the future years. President Tinubu stated this on Monday while delivering his first New Year goodwill message to Nigerians. The message was aired on the…
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Tinubu seeks Senate approval for securitisation of N7.3trn Ways & Means revenue
President Bola Tinubu has sought for the Senate approval for securitisation of the balance of Ways and Means revenue in the Consolidated Revenue Fund (CRF) of Nigeria. Tinubu said this in a letter addressed to the Senate President, Godswill Akpabio, and read at plenary on Saturday. “I will like to call the attention of Senate to the provisions of section…
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Ijewere, the brain behind Nigeria’s Value Added Tax, dies at 77
The main brain that midwived Value Added Tax (VAT) in Nigeria has died. Dr. Emmanuel Ijewere, who was a former president of the Institute of Chartered Accountants of Nigeria (ICAN), reportedly succumbed to a prolonged terminal illness on Thursday. He was 77. He served as the Chairman of the modified value-added tax committee set up by the Federal Military Government…
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Abiodun signs N703.02bn 2024 budget into law
….says it will make Ogun Nigeria’s infrastructure capital By Kolawole Olayinka, Abeokuta Ogun State Governor, Prince Dapo Abiodun, has said that the 2024 Appropriation Bill of N703.028bn signed into law will further enhance the development of the state and make it Nigeria’s infrastructure capital. The governor stated this while signing the Bill into law after it was presented to him…
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