FAAC shares N2.43trn among FG, states, LGs
•As CIT, CGT, stamp duties, VAT collections decline By Emma Ujah The Federation Account Allocation Committee (FAAC) has shared N2.428 trillion among the three tiers of government, Federal Government, state governments and local government councils. This comes as collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties and Value Added Tax (VAT) […]
Nigeria’s GDP records 4.23 % growth in Q2’25
•As non-oil sector contributes 95% By Elizabeth Adegbesan The National Bureau of Statistics, NBS, yesterday, said Nigeria recorded 4.23 percent Gross Domestic Product (GDP) growth in the second quarter of 2025 (Q2’25) from 3.13 per cent in first quarter,Q1’25. This represents a 1.1 percentage point quarter-on-quarter (QoQ) increase. In the GDP report for Q2’25, NBS said: “Following the […]
FAAC: NUPRC records N459.6bn revenue shortfall despite 3% rise in monthly remittance
By Obas Esiedesa, Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported a revenue shortfall of N459.6 billion against its August 2025 budgetary target of N1.2 trillion, after remitting N745 billion to the Federation Account. In its report to the Federation Accounts Allocation Committee (FAAC) for September 2025, the Commission disclosed that its revenue collection […]
Globacom unveils TalkMasta, Welcome Bonus to enhance subscribers’ experience
The new products are part of Globacom’s commitment to enhancing communication experience and delivering value far beyond customers’ expectations.
African manufacturers seek extension of US trade programme
Manufacturers in some parts of Africa are lobbying the US Congress to grant a last-ditch extension of one to two years to a duty-free trade programme, the African Growth and Opportunities Act (AGOA), which is due to expire at the end of September, Reuters has gathered. US President Donald Trump’s aggressive tariff policies have cast doubt […]
Lafarge launches new plant to boost local manufacturing
Lafarge Africa Plc has officially commissioned the Freedom Plant, a state-of-the-art ReadyMix facility, located in Lekki, Lagos. The facility is equipped with a fully automated batching system that enables seamless remote data transfer and modification, with the capability to manage and operate the plant from any location worldwide via secure internet access. In alignment with Lafarge […]
