AGS NEWS – The Federal Government has unveiled a plan to generate at least $100 billion and create over two million jobs annually from Nigeria’s creative economy. Hannatu Musawa, the Minister of Art, Culture, and the Creative Economy, announced the … Continue reading FG eyes $100bn revenue from creative economy
AGS NEWS – Real Madrid has become the first football club to surpass €1 billion in revenue. This historic milestone was confirmed by the club’s Board of Directors during a meeting on July 23, where they reviewed the 2023-2024 financial … Continue reading Real Madrid becomes first football club to surpass €1 billion in revenue
AGS NEWS – The global outage of Facebook, Instagram, and Messenger on Tuesday, March 5, reportedly caused a significant financial setback for Meta, the parent company. According to Dan Ives, managing director at Wedbush Securities, Mark Zuckerberg incurred an estimated … Continue reading Facebook and Instagram outage costs Mark Zuckerberg $100 million in revenue, share price dips
In the third quarter of 2023, Nigeria experienced a remarkable 53.16% year-on-year increase in foreign trade, reaching a total of N18.80 trillion, according to the National Bureau of Statistics’ ‘Foreign Trade in Goods Statistics (Q3 2023)’ report released on Monday. … Continue reading Nigeria’s oil revenue surges by 83%, Reaches N8.5tn in Q3 – NBS
The Lagos State Internal Revenue Service (LIRS) has introduced an upgraded system, known as the Eco Fiscal System (EFS), for the collection of Hotel Occupancy and Restaurants Consumption Tax in the state. According to Ayodele Subair, the Executive Chairman of … Continue reading LIRS implements advanced system for consumption tax collection
In the ongoing US trial where Google is defending itself against monopoly claims, new details have emerged regarding the amount the tech giant pays to remain the default search engine on Apple’s Safari web browser. An expert testifying on behalf … Continue reading Google sends 36% of Ad revenue to Apple from Safari
Despite strong demand for its iPhones and services like Apple TV+, Apple’s sales have continued to decline. The tech giant reported a 1% dip in revenues, reaching $89.5 billion for the three months ending on September 30, compared to the … Continue reading Apple’s revenues drop 1% despite iPhone demand and strong services growth
Nigerian Breweries Plc has disclosed its unaudited financial statement for the third quarter ending on September 30, 2023, revealing a total revenue of N402 billion. This marked a 2% increase compared to the N393 billion generated in the same period … Continue reading Nigerian breweries reports N402bn revenue for Q3 2023
Optimism is running high among key players in Nigeria’s coffee industry, with expectations that the sector holds the potential to generate $2 billion in revenue over the next two to three years. This positive outlook is driven by the increasing … Continue reading Nigeria’s coffee industry sets sights on $2 billion in revenue
The Lagos State Government has announced the commencement of a comprehensive training program designed to enhance revenue collection and boost transparency across all revenue-generating agencies within the state. This initiative is part of the government’s strategy to address revenue leakages … Continue reading Lagos trains revenue agencies to prevent revenue leakages
Revenue generated from Value Added Tax (VAT) and Company Income Tax (CIT) witnessed substantial Year-on-Year (YoY) growth of 17 percent, amounting to N3.48 trillion in the first half of 2023 (H1’23), compared to N2.97 trillion recorded in the corresponding period … Continue reading Strong Growth: Tax revenue surges to N3.48 trillion in H1’23, up 17
Aradel Holdings Plc, an energy conglomerate, has experienced a substantial surge in its revenue during the first half of 2023, registering an impressive 217.6% increase to N74.5 billion compared to N23.5 billion reported for the same period in 2022. These … Continue reading Aradel Holdings achieves 218% revenue growth
Between 1999 and 2020, spanning approximately 21 years, the Nigeria Extractive Industries Transparency Initiative (NEITI) reported that Nigeria garnered a total of $741.5 billion from the oil and gas sector and N635.3 billion from solid minerals. NEITI’s Executive Secretary, Ogbonnaya … Continue reading NEITI: Nigeria generates $742 billion from oil revenue over 21 year period
Indigenous energy firm, Seplat Energy Plc, has witnessed a substantial increase in its gas revenue, reaching $63.7 million during the first half of 2023, marking a 10.21% growth from the $57.8 million recorded in the corresponding period of 2022. The … Continue reading Seplat energy reports 10.21% growth in gas revenue
In Maiduguri, Borno State, the youth division of the Baga Road Market Fish Sellers and Fish Farmers Association staged a protest within the market premises. They urged the leaders of the main association, Borno State Fish Producers and Marketers Association, … Continue reading Borno fish traders and union leaders trade words N3bn revenue
The Debt Management Office (DMO) predicts that Nigeria’s total public debt could reach N81.64tn this year, based on its 2022 Debt Sustainability Analysis Report. The report reveals that the increase in total public debt-to-GDP ratio from 23.4% in September 2022 … Continue reading Nigeria’s debt approaching N81tn raises concerns for DMO due to low revenue
The Nigerian government has officially issued and signed licences for the establishment of two crude oil export terminals, with the potential to generate $11 billion in revenue for the country each year. The licences were granted by the Nigerian Midstream … Continue reading FG grants licences for two oil export terminals, aims for $11bn revenue
Guaranty Trust Holding Company Plc announced a profit before tax of N214.2 billion in its Audited Consolidated and Separate Financial Statements for the year ending December 31, 2022, attributing the slight decrease in profit to N35.6 billion impairment on Ghanaian … Continue reading GTCO records N214 billion as pretax profit in 2022
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