July 25, 2024/FIRS The Federal Inland Revenue Service Nigeria (FIRS) has issued a circular to provide information and guidance to the public, taxpayers, tax practitioners, and tax officials regarding the proper tax treatment of foreign exchange transactions in accordance with relevant tax laws. This circular supersedes Information Circular No. 2024/3, […]

July 25, 2024/CSL Research The National Bureau of Statistics (NBS) June 2024 report showed a significant increase in the average retail price of diesel across Nigeria in June 2024. The average price reached N1,462.98/litre, marking a 79.32% y/y increase and a 4.20% m/m increase compared to May 2024. This upward […]

July 24, 2024/CSL Research According to news reports, last week, the Major Energy Marketers Association of Nigeria (MEMAN) reported that the landing cost of petrol was N1,117/litre. MEMAN also disclosed that the landing costs of diesel and aviation fuel were N1,157/litre and N1,127/litre, respectively. While the pump prices of diesel […]