Tag: Revenue
-
Federal government has projected nearly $1 billion (about N1.49 trillion) in annual revenue from electricity exports to 15 West African countries starting from June 2026. This estimate is based on Nigeria’s full 600 MW export capacity at regional tariffs and follows a successful grid synchronisation test conducted on November 8, 2025, involving Nigeria and neighboring…
-
Federal Government has planned to permanently stop deductions for revenue collection costs paid to agencies like FIRS, Customs, and the Upstream Petroleum Regulatory Commission, aiming to improve fiscal transparency and ensure more funds reach federal, state, and local governments. Minister of Finance Wale Edun announced that these deductions, previously deducted before revenue sharing, have been…
-
President Bola Tinubu has directed a review of deductions and revenue retention by major Nigerian agencies like Federal Inland Revenue Service (FIRS)Nigeria custom service (NCS) Nigerian upstream regulatory commission ( NUPRC) , Nigerian Maritime Administration and Safety Agency NIMASA, and Nigerian National Petroleum Corporation NNPC to boost public savings and spending efficiency. The directive,…
-
Joint operatives from the Imo State Governor’s Monitoring and Compliance Unit and the Imo State Internal Revenue Service have arrested several fake revenue collectors in Owerri on Monday. The intelligence-led operation targeted locations like Aba-Owerri Road and Sam Mbakwe International Cargo Airport Junction, where suspects were caught extorting citizens with forged receipts and a fraudulent…
