With the ever growing rate of youth restiveness on account of the prevailing socio-economic issues in Nigeria, most young and talented musicians have become more attuned to platforms that would help launch their musical careers. Offering a respite and giving the teeming youth population a platform to make progress, Life[Read More…]
Author: Godwin Anyebe
SEC Declares N2.5bn Surplus, Reduces Workforce By 30%
The Director General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda has said the commission reduced its workforce by almost 30 per cent disclosing that at the end of the first half of 2022, it recorded a surplus of about N2.5billion. Speaking at the 2023-2025 Medium Term Expenditure[Read More…]
Fed Govt Grows VAT By 20%, Rakes In N1.2trn
The Federal Government through the Federal Inland Revenue Service has grown its proceeds of Value of Added Tax by 20 per cent to N1.2tn in the first six months of 2022. According to different reports by the National Bureau of Statistics, the total sum generated through VAT stood at N1.008tn[Read More…]
Currency In Circulation Drops To N3.24trn
Currency in circulation fell by N107.08bn from N3.35tn in April to N3.24tn in July, latest figures on currency from the Central Bank of Nigeria has revealed. According to the CBN, the CIC which stood at N3.33tn in May fell to N3.25tn in June. The CBN recently warned Deposit Money Banks[Read More…]
Akabueze Contradicts Pantami, Says 5% Tax Stands Telecom
Contrary to the pronouncement by the minister of communications and digital economy, Isa Ali Pantami, that the five percent telecom levy had been suspended, the director-general of the Budget Office, Ben Akabueze, has maintained that the tax remains in effect as the Budget Office of the Federation and the Federal[Read More…]
IPMAN announces warning strike, threat indefinite if FG fails to settle outstanding N500b
Fresh fuel scarcity is looming in northern states as independent marketers, yesterday, announced a three-day warning strike over non-payment of outstanding bridging costs In Kano, the Northern Independent Petroleum Marketers Forum (NIPMF) shutdown the depot of the Nigerian National Petroleum Company Limited (NNPC), obstructing the movement of tankers. NIPMF chairman,[Read More…]
FG Suspends Telecoms Tariff Hike, Excise Duty
President Muhammadu Buhari has approved the suspension of the proposed excise duty on telecommunications indefinitely and constituted a committee to look into the matter. The suspended scheme could have seen an added tax to the tariff for telecom network subscribers but the Minister of Communications and Digital Economy, Isa Ali[Read More…]
ARCON gives Turkish Firm ultimatum to pay N481m debt
The Advertising Regulatory Council of Nigeria (ARCON) has given a Turkish company, Hayat Kimya, a seven-day ultimatum to pay the N481 million debt it owes a Nigerian media planning and buying agency, Mainsail Media Limited. The Director General of ARCON, Dr Olalekan Fadolapo, issued the ultimatum in a statement made[Read More…]
ARCON to Register Advertising Businesses, Affiliations and Mergers
Advertising Regulatory Council of Nigeria, ARCON has announced that under the new law, the regulatory agency is now mandated to register all forms of business affiliations, combinations and mergers in the advertising industry as part of efforts to enforce ethical practices in the industry. Olalekan Fadolapo, Director General , ARCON,[Read More…]
In 12 Months, Discos Suffered N543bn Revenue Loss
The latest report by the Nigerian Electricity Regulatory Commission (NERC) shows that total billing to electricity consumers by the 11 distribution companies stands at N816bn. The report also shows that out of this amount, only N370bn has been collected by the DIiscos, leaving a total outstanding of N543bn. The data[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]