Breaking : Federal Government increases VAT to 7.2%

The federal executive council (FEC) meeting held earlier today. At the end of the meeting, FEC approved an increase in value added tax (VAT) rate from 5 percent to 7.2% percent effective January 2020. Zainab Ahmed, minister of finance, budget and national planning, disclosed this to state house correspondents at the end of the cabinet[...]

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98m Nigerians now living in multidimensional poverty- UN

The United Nations Development Programme (UNDP) says slightly over 98 million Nigerians are living in multidimensional poverty. Multidimensional poverty is the measure of lack which encompasses the various deprivations experienced by poor people in their daily lives – such as poor health, lack of education, inadequate living standards, disempowerment, poor quality of work, the threat of[...]

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Minister of Information, Lai Mohammed reveals full details of the May 29th presidential inauguration and June 12th’s Democracy Day

At a world press conference in Abuja yesterday, Minister of Information, Lai Mohammed shared the details of the May 29th presidential inauguration and the first observance of June 12th as the nation's Democracy Day. As you would recall, I said, at a press conference at the State House on Monday, May 13th 2019, that the inauguration of[...]

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Buhari submits list of 30 nominees for RMAFC Board for Senate confirmation

President Muhammadu Buhari has asked the senate to confirm 30 nominees for the board of Revenue Mobilisation Allocation and Fiscal Commission (RMAFC). Buhari’s request was contained in a letter read by Senate President Bukola Saraki on the floor of the upper legislative chamber on Wednesday. The president based his request on section 15 (41) of[...]

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The 7 New Year Resolutions that will make you Richer

When it comes to New Year's resolutions, for many these revolve around money and improving our savings. But while you are so serious making resolutions remember that for a financial resolution to stick, it needs to be simple, clear and realistic to achieve. Be modest in goal setting! 1. Sit down and check your spending[...]

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No one gets Rich Overnight- Reno Omokri

According to social media influencer Reno Omokri you have to put in some work for your dreams to come through. He said dreams don't come true, they come through. He said if you hang out with successful people your chance of success increases by over 100%. He took to his Instagram handle to say no[...]

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Nigeria’s Sukuk bond oversubscribed, receives N132bn for N100bn offer

The federal government received over N132 billion subscriptions from 2,073 investors for its N100 billion 7-year 15.74 per cent Sukuk offer, the Debt Management Office (DMO) has said. The DMO, in a statement in Abuja on Saturday, announced the result and added that the bond would be due in 2025. It said that the high[...]

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budget

FG records N2.3tn shortfall from revenue-earning agencies

…warns DPR, CBN, 38 others against under-payment Between January 2015 and August 2018, the Federal Government recorded a total shortfall of N2.38tn in independent revenue from its agencies captured under the Fiscal Responsibility Act. The Act stipulates that any government agency that generates revenue must remit 80 per cent of their operating surplus to the[...]

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INEC signs MoU with road transport unions to use commercial vehicles for 2019 elections

The Independent National Electoral Commission (INEC) has signed a Memorandum of Understanding (MOU) with road transport unions to use commercial vehicles for movement of election personnel and materials on election days in 2019. The unions involved in the agreement are the National Union of Road Transport Workers (NURTW), Road Transport Employees Association of Nigeria (RTEAN),[...]

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