January 27, 2022/Proshare by FBNQuest Research Our chart today shows that the gross monthly distribution by the Federation Account Allocation Committee (FAAC) distributed to the three tiers of government amounted to NGN700bn (c.USD1.69bn) in January (from December revenue). This represents a 3.5% (NGN24bn) increase over the previous month’s payout. The […]
Updates
FG Extends Fuel Subsidy Program by 18 Months
January 27, 2022/United Capital Research The Federal Government (FG) yesterday proposed an 18-month extension on the period for the implementation of the removal of subsidy on Premium Motor Spirit (PMS), following concerns from stakeholders and the possibility of industrial action from the Nigerian Labour Congress (NLC). The Petroleum Industry Act […]
2021 Performance: “We Achieved Over 100% Of Our Target” – FIRS
January 27, 2022/FIRS Despite the global economic challenges occasioned by the Coronavirus pandemic, as well as the disruption of business activities in 2020 by nationwide protests, the Federal Inland Revenue Service (FIRS) achieved over a hundred percent of its collection target for the year 2021. “Notwithstanding the limitations faced in […]
