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Tag: FG

Maritime

FG to life ban in Nigerdock terminal

The Federal Government has announced that it is planning to lift the ban imposed on Nigerdock terminal following the firm’s willingness to abide by the rules amid its contributions to the growth of the national economy.   According to a statement released by the Deputy Director of Press, Anastasia Ogbonna, on Friday, the Minister of […]

Economy

Inflation: NBCC raises concerns over excise duty increment

The Nigeria-British Chamber of Commerce has warned that the proposed increment in the excise duty by the federal government will lead to more inflation in the country.   Daily Post reported that the organisation made this assertion via a statement issued on Tuesday by its President, Mrs Bisi Adeyemi.   Recall, that the federal government […]

FG owes road contractors over N11tn – Fashola
News

FG owes road contractors over N11tn – Fashola

The Minister of Works and Housing, Babatunde Fashola (SAN) on Tuesday revealed that the federal government is owing contractors about N11.16tn for the construction of various highways across the country and certificates of completion. According to The PUNCH, Fashola made this known while defending the proposed budget of his ministry in the 2023 Appropriation Bill, […]

Why Islamic bank approved $1.8bn for Nigerian projects
News

Why Islamic bank approved $1.8bn for Nigerian projects

The Islamic Development Bank has revealed why the institution approved the sum of $1.8bn for Nigeria for Nigerian projects. According to The PUNCH, the President of the Saudi-based bank, Dr Mohamed Jasser at a meeting with the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, in Abuja on Monday stated that the funds […]

Oil Theft: Nigeria loses $150m every two days
Oil and Gas

Why we lost our most-valued crude oil customers – FG

  The Chief Executive Officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, has revealed why the country lost its most valued crude oil customers. FG on Thursday revealed that Nigeria lost its most valued crude oil customers, while some of its gas buyers now compete with the country in the same market. […]

How more taxes'll reduce debt load - FG
Economy

How more taxes’ll reduce debt load – FG

The Federal Government said the collection of more taxes and is diversion to the right fiscal sectors of the economy will help curtail excessive external borrowing and lessen the high debt burden in Nigeria. According to The Punch, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said this at a tax expenditure workshop […]

Kogi sues Dangote over Obajana ownership
Business News

Obajana: FG reopens plant, Kogi, Dangote continue talks

The Federal Government has reopened the Dangote Cement Plant located in Obajana, Kogi State after it was shut down by the state government. The plant was closed over issues bordering on the legality of the company’s acquisition of the defunct Obajana Cement Company. According to The PUNCH, the plant was reopened after an order by […]

FG, firm to build $1.5bn fertiliser complex
Business News

FG, firm to build $1.5bn fertiliser complex

A global provider of phosphate and its derivatives, OCP Africa and the Federal Government are set to build a $1.5bn fertilizer complex in Akwa Ibom State. According to The PUNCH, the firm in partnership with FG will establish a multi-billion dollar fertilizer complex in Nigeria to deepen the use of standard fertilizers by Nigerian farmers. […]

Clearing agents have warned that the Federal Government will lose more revenue from the implementation of its Vehicle Identification Number policy if refused to intervene.
News

VIN implementation: ‘FG’ll lose more revenue without intervention’

Clearing agents have warned that the Federal Government will lose more revenue from the implementation of its Vehicle Identification Number policy if refused to intervene. Less than a year after the introduction of the VIN policy by the Nigeria Customs Service introduced the Vehicle Identification Number, some agents operating in the nation’s maritime sector have […]

News

Asset declaration: Ensure strict compliance, FG warns officials

The Federal Ministry of Works and Housing has warned directors in public offices to strictly adhere to the assets declaration code of conduct or risk sanctions. According to The Punch, the permanent secretary in the ministry, Bashir Alkali gave the warning during a sensitisation workshop organised for public servants holding directors positions. Akali who spoke […]

Buhari unveils SDG financing framework
News

Buhari unveils SDG financing framework

The President, Major General Muhammadu Buhari (retd.) has unveiled a national template for advancing its commitment to the Sustainable Development Goals and the nation’s development aspirations. According to Nairametrics, Buhari while launching the Nigeria Integrated National Financing Framework Report on Sustainable Development stated that achieving the SDGs will mean ending poverty and hunger, safeguarding the […]

FG loses N16tn to tax waivers - Report
News

FG loses N16tn to tax waivers – Report

The Federal Government has lost N16.76tn in revenue between 2019 and 2021 as a result of tax breaks and concessions offered to large businesses. According to The PUNCH, by the end of 2021, 46 businesses had benefited from various tax advantages and duty waiver programs, while 186 businesses’ requests were still being processed. These were […]

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