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Business & Economy

FIRS boss makes case for sustenance in VAT collection due to 44% increase in three years

as organization targets N750bn from 55,000 tax debtors EXECUTIVE Chairman, Federal Inland Revenue Service, Mr Tunde Fowler has indicated a growth in Value Added Tax (VAT) of over 44 per cent between 2015 and 2018 at the current five per cent rate, stressing the importance VAT despite that Nigeria still …

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How high oil prices shackled Nigeria’s productive sector- Osinbajo

"There was some impression that our country was an affluent country but the truth of the matter is underlying the jets, because there is no productivity whatsoever, because the owners of the jets are contractors and friends of those government and you could not tie the ownership of the jet and ownership of these kinds of luxury assets to any kind of productivity.

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Tourism needs culture to reach full potential in Nigeria-Otunba Runsewe

DIRECTOR General, National Council for Arts and Culture (NCAC), Otunba Olusegun Runsewe has said that the rich and expansive cultural asset of Nigeria as a nation, has the capacity of sustaining a robust tourism industry Runsewe, who doubles as President of the World Craft Council African Region, made this known …

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FAAC shares N619,857b to FG, states and local governments

FEDERAL Accounts Allocation Committee(FAAC) has shared N619,857 billion federal revenue generated in the month of February 2019 among the three tiers of governments This is just as the FAAC has announced that the Excess Crude Account has the sum of $183million as at March 27, 2019. A communique issued by …

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NERC slams Discos over metering as vandals hit 6 TCN towers in Delta

NIGERIAN Electricity Regulatory Commission (NERC) has slammed electricity distribution companies, stating that it is their responsibility under the Meter Asset Provider (MAP) Regulations 2018 to ensure that all electricity consumers across the country have meters. This is coming as six (6) Transmission Towers along the Delta – Benin and Delta …

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NAAE to tackle cyber threat at annual symposium, hosts Biennial General Meeting

FOLLOWING the threat posed on the aviation industry by cyber criminals, the Lagos State chapter of the National Association of Air Traffic Engineers (NAAE) will hold a symposium to illuminate the threat and proffer solutions on how to deal with them should they arise. The body made this known as …

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Emirates gives Nigerians special offers with hotel stay

EMIRATES, is enhancing the travel experience of Nigerian travellers by offering complimentary hotel stay with the new special offer across its First, Business and Economy Class cabins, the offer also includes Skywards bonus miles. The special offer will commence March 26th till April 3rd 2019, while travel dates is scheduled …

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Delta stresses import of Nigerian market, celebrates 1 year ops from Lagos to New York-JFK

NIGERIA has been described by Delta Air Lines as an important Market as part of the airline marking a successful first 12 months of flying between Lagos and New York-JFK non-stop. Delta’s Commercial Director East and West Africa, Bobby Bryan made this known while stating that Delta’s Lagos-New York-JFK service …

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UBA says diversification, stable funding structure will strengthen bank despite operating environment

UNITED Bank for Africa (UBA) Plc has stated that its well diversified asset book supported by stable funding structure, has placed it in a prime position to perform remarkably despite the falling economic indices in its operating environment. This is just as the Bank has assured its local and international …

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Planned VAT increase: NECA cautions FG against implementation

NIGERIAN Employers’ Consultative Association (NECA), has said that the upward review of Value Added Tax (VAT) as being proposed by Federal Government is ill-advised and not the only option opened to government to fund the new national minimum wage. NECA, the umbrella body for organised private sector made this known …

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