Economy

 Dr. Babatunde Fowler, the Executive Chairman, Federal Inland Revenue Service (FIRS) says that Nigeria looses about 15 billion dollars to tax evasion annually. He said this on Wednesday in Abuja while declaring open a seminar by the…

The Debt Management Office (DMO), says as at June 30, Nigeria owes N25.7 trillion in debt both domestically and externally. The DMO said this in its ‘Total Public Debt Portfolio’ obtained from its website on Wednesday in Abuja. The…

Governments will get more power to tax big multinationals like Google, Apple and Facebook doing business in their countries under a proposed overhaul of decades-old rules. Big internet firms have pushed tax rules to the limit as they can…

Minister of State Power, Mr Goddy Jedy-Agba, says the Federal Government will collaborate with Norway to boost power supply in the country. Jedy –Agba said this in Abuja on Monday when the Royal Norwegian Ambassador, Mr Jens–Petter…

Some economists and trade experts have advised the Federal Government to ensure efficiency, transparency and probity in the collection of tax rather than increasing Value Added Tax (VAT). The experts spoke in separate interviews with…

Mr. Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN), says the plan to increase Value Added Tax (VAT) from five per cent to 7.5 per cent is in the right direction to raise country’s revenue. Emefiele stated this while…

Economic experts have highlighted problematic areas the newly-constituted economic advisory team of the president should focus on to address the economic challenges confronting the country. The experts spoke in separate interviews with…

The World Bank has advised Nigeria to scale up its social investment programmes to address the large number of people living in extreme poverty in the country. The World Bank Country Director, Mr. Rachid Benmessaoud stated this on Friday…

Dr. Babatunde Fowler, Chairman Federal Inland Revenue Service (FIRS), says taxation remains the country’s lifeline for economic development. Fowler made this known on Tuesday night in Abuja, at the investiture of Hajia Kudirat…

Iraq’s and Nigeria’s oil ministers pledged on Thursday to reduce oil output to comply with their OPEC output targets. In a statement, the OPEC+ said it was important for all countries to reach full conformity with cuts. It also said…