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Tag: revenue

Policy and Regulations

Senate holds hearing on bill to establish revenue mgt institute

The Senate has held a public hearing on a bill seeking to establish the Chartered Institute of Revenue and Fiscal Management of Nigeria, marking a major step in the legislative process for the proposed institution. The bill, titled “Chartered Institute of Revenue and Fiscal Management of Nigeria (Establishment) Bill, 2025,” was sponsored by Senator Adamu […]

FAAC funds to FG, states hit 7-year high in 2023
featured Finance

FG rejects claims of diversion from federation revenue

The Federal Government says deductions from the federation earnings by the Federation Account Allocation Committee are being misrepresented as a diversion of revenue. In a statement on Sunday signed by Taiwo Oyedele, minister of state for finance, the ministry said some media reports are misrepresenting the findings of the World Bank in the Nigeria Development […]

Business

Fidson Healthcare’s revenue surged 41% to ₦119bn in 2025

Fidson Healthcare Plc has recorded a remarkable 41 per cent surge in revenue to N119.06 billion in 2025, driven largely by a 41.5 per cent increase in ethical drug sales to N77.8 billion. The figures were disclosed in the company’s audited financial statements for the year ended December 31, 2025. The performance reflects strong demand […]

PwC raises concerns on effects of FG's tax on bank profits
Entertainment

Nigeria’s entertainment industry revenue to hit $4.9bn by 2026 — PwC

Nigeria’s entertainment and media industry is projected to generate revenues of $4.9 billion in 2026, rising from the $4.5 billion recorded in 2025, according to the 2026 PwC Nigeria Economic Outlook. The projection underscores the growing momentum within Nigeria’s digital economy, which the report identifies as one of the major drivers expected to shape the […]

Over 160,000 benefited from Tinubu's transport subsidy - Alake
Finance

Solid minerals revenue jumps 337%

The Ministry of Solid Minerals Development recorded a 337 per cent increase in revenue, rising to over N70 billion in 2025 from N16 billion in 2023, under the leadership of the Minister of Solid Minerals Development, Dr Dele Alake. The revenue growth was disclosed by the Special Assistant on Media to the Minister, Segun Tomori, […]

Economy featured

Solid minerals revenue soars as NLNG dividends hit zero

Nigeria’s revenue from solid minerals surged to almost three times its target in 2024, while dividends from natural gas, once a dependable source of government income, dropped to zero, raising concerns about transparency and asset management in Africa’s largest economy, according to findings by BusinessDay. Data from the 2024 Federal Government Budget Performance Analysis released […]

Finance

Customs penalise banks over delayed remittance of FG revenue

The Nigeria Customs Service has started enforcing penalties against specific banks that fail to remit Customs revenue on time. This initiative is designed to increase transparency and protect the financial earnings of the government. The Service noted that after reconciling collections made through its B’odogwu electronic platform, it identified several cases where banks held onto […]

featured Oil and Gas

NNPCL’s revenue hits N5.08tr in October

The Nigerian National Petroleum Company Limited reported a significant surge in revenue for October 2025, reaching N5.08 trillion. This figure marks a substantial increase from the N4.27 trillion recorded in September. The company’s Monthly Report Summary for October 2025 contained these financial figures. The report indicates that NNPC Ltd’s profit after tax saw a sharp […]

Economy

Nigeria earned N2.33tn from VAT, CIT in Q4 2023 – NBS

Nigeria’s economy witnessed a significant influx of revenue from Value Added Tax and Company Income Tax in the fourth quarter of 2023, according to the latest figures released by the National Bureau of Statistics. In the final quarter of the year, the combined VAT and CIT collections amounted to approximately N2.33 trillion, according to nairametrics. […]

The year has begun with a good financial performance from the Cinema Exhibitors Association of Nigeria, with revenue up nearly 50% year over year.
News

Nigerian cinemas report nearly 50% revenue increase in January

The year has begun with a good financial performance from the Cinema Exhibitors Association of Nigeria, with revenue up nearly 50% year over year. According to the National President of CEAN, Opeyemi Ajayi, Nigerian movie theatres brought in N1.2 billion in income in January 2024. This represents a 46.5% annual increase over the N819 million […]

Senate moves to increase Custom's 2024 revenue target
News

Senate moves to increase Custom’s 2024 revenue target

In order to avoid more borrowing for the nation, the Nigerian Senate has notified the Nigeria Customs Service that the agency’s N5.079 trillion income target for 2024 will be reevaluated upward in the latter half of the year. If approval is given, Adeniyi clarified, people who own cars that were illegally imported or that have […]

Bricklinks Africa's revenue falls by 9%
Business

Bricklinks Africa’s revenue falls by 9%

Internet Service Provider, Bricklinks Africa, has reported a 9.82 per cent revenue decline for the fiscal year ending December 2023. The PUNCH reported that according to the financial statements for the fiscal year ending December 31, 2023, filed with the Nigerian Exchange Limited on Monday, the ISP’s turnover decreased to N96.770m from N107.312m in 2022. During […]

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