The Lagos State House of Assembly has successfully approved the 2024 Appropriation Bill, amounting to a substantial N2.2 trillion. The bill, initially presented to the Assembly by Governor Babajide Sanwo-Olu, received the legislative nod during a plenary session held on … Continue reading Lagos state house of assembly approves N2.267 trillion 2024 budget
On Thursday, both the Senate and the House of Representatives successfully passed the N2.17 trillion 2023 supplementary appropriation bill following a thorough legislative process. Before the bill’s passage, the Senate adopted the report derived from the harmonized sessions of both … Continue reading National assembly passes N2.17 trillion 2023 supplementary budget
The Federal Government has given the green light to a supplementary budget of N2.18 trillion for the fiscal year 2023. This decision, announced on Monday, comes as a response to the increasing demand for additional funding in key areas such … Continue reading FG N2.2 trillion supplementary budget proposal unveiled
The Minister of Planning and Budget, Atiku Bagudu, announced that the Federal Government anticipates a budget estimate of N26 trillion for the year 2024. This disclosure took place following the Federal Executive Council (FEC) meeting, which was chaired by President … Continue reading FG bargains on N26 trillion for 2024 budget
In the first half of the 2023 financial period, eight major Deposit Money Banks (DMBs) in Nigeria collectively generated approximately N3.9 trillion in gross earnings. This information has been extracted from the financial statements of these banks, which were made … Continue reading Six banks in Nigeria report N3.9 trillion earnings in six months
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
Foreign companies such as Google, Netflix, and Facebook that are operating in Nigeria have contributed more than N1.98 trillion in taxes to the Federal Government over the course of 15 months, as revealed by investigative findings. This substantial amount encompasses … Continue reading Nigerian govt. receives N2 trillion in taxes from Google, Facebook, and foreign companies
In July 2023, credit extended to the Nigerian government experienced a 3.5 percent sequential rise, totaling N32.3 trillion, as compared to N31.2 trillion in June. Increase in credit allocation to the private sector The Central Bank of Nigeria (CBN) published … Continue reading FG credit surges by another 3.5% to reach N32.3 trillion
During the first half of 2023 (HI’23), Pension Fund Administrators (PFAs) in Nigeria experienced significant growth in their investments. The Net Asset Value (NAV) of their equity investments surged by 36.6%, reaching N1.460 trillion compared to N1.069 trillion in the … Continue reading Pension fund equity investments surge by 36%, reaching N1.4 trillion
Despite the Nigerian Senate’s rejection of President Bola Tinubu’s proposal to deploy Nigerian troops in Niger Republic to restore democratic rule, the looming prospect of military intervention raises concerns about its heavy toll on Nigeria’s resources. Based on the global … Continue reading Potential Niger invasion could double annual defense spending, costing Nigeria over N2.98 trillion
The Nigerian Senate has decided to initiate a probe into the expenses incurred by the federal government during a 30-month period under the petrol subsidy regime. The resolution was reached during the plenary session on Tuesday, following a motion presented … Continue reading Senate initiates probe into petrol subsidy payments, questions N9.3 trillion expenditure in 30 months
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