Category: Economy
-
Delta records N154bn IGR in 3 years
The Commissioner for Finance in Delta, Mr David Edevbie, said the state recorded N154 billion as its Internally Generated Revenue (IGR) between Year 2016 and Year 2018. Edevbie, who stated this on Tuesday in an interview in Asaba, said the state realised approximately the sum of N44 billion as IGR in Year 2016; it realised…
-
Bank challenges N29. 2m VAT imposed by FIRS
An Abuja-based Mortgage Bank, Infinity Trust Mortgages Bank PLC, on Wednesday sued the Federal Inland Revenue Service (FIRS) in a Tax Appeal Tribunal sitting in Abuja, for imposing N29. 2 million remittance on Value Added Tax (VAT) with penalty and interest on it. The appellant sought the order of the tribunal for the annulment of…
-
Breaking: Obaseki proposes N175bn 2019 budget for Edo State
Governor Godwin Obaseki of Edo on Monday presented a budget proposal of N175 billion for 2019 fiscal year to the state House of Assembly. The budget proposal is 9.2 per cent above the 2018 budget of N146 billion. The proposed budget tagged: “Budget of Socio-Economic Inclusion’’ has N95.8 billion as capital expenditure, while N79.9 billion…
-
Prices of food items increase, as inflation rate drops in Nigeria
Composite food index rose by 13.28 per cent in October 2018 compared to 13.31 per cent in September 2018, according to data from the National Bureau of Statistics (NBS). TheNewsGuru (TNG) reports the NBS attributed the rise in the food index to increases in prices of fruits, meat, vegetables, potatoes, yam and other tubers, bread…
-
Gov. Udom highlights 13 strategies for Akwa Ibom N671bn 2019 budget
Governor Udom Emmanuel has highlighted thirteen implementation strategies for the N670.718 billion 2019 budget he proposed for Akwa Ibom before the State House of Assembly on Wednesday. TheNewsGuru (TNG) reports Governor Udom christened the 2019 budget as the Budget of Industrialization for Poverty Alleviation. He said to realize the objectives of the N670.718 billion budget,…
-
Strike: Asaba residents storm banks, markets
Residents of Asaba and Okpanam in Delta on Monday besieged banks and the markets to collect money and store food ahead of Tuesday proposed nationwide strike by workers. Following the deadlock between labour leaders and the Federal Government over minimum wage, the unions insisted on the indefinite strike. The Nigeria Labour Congress (NLC), Trade Union…
-
FDI in ICT sector increases from $3.2bn in 2015 to $4bn in 2018
Foreign Direct Investment (FDI) in the Information and Communications Technology (ICT) sector of the Nigerian economy recorded an increase from 3.2 billion dollars in 2015 to 4 billion dollars in 2018. TheNewsGuru (TNG) reports Minister for Communications, Dr Adebayo Shittu made this known at the opening of the three-day 11th edition of eNigeria Conference and…
-
N650bn unpaid subsidy arrears affecting our operations – Marketers
Depot and Petroleum Products Marketers Association (DAPPMA) on Sunday said the unpaid subsidy arrears of over N650 billion by the Federal Government posed huge financial challenges to the downstream operations. DAPPMA Executive Secretary, Mr Olufemi Adewole, told the News Agency of Nigeria in Lagos that the settlement of the debts owed them would save their…
-
N800bn ‘fuel subsidy’ drags down govt’ revenue
The Nigerian National Petroleum Corporation (NNPC) at the moment spends N53 under-recovery in terms of petroleum products pricing for every litre of Premium Motor Spirit (PMS) consumed by Nigerians. TheNewsGuru (TNG) reports Director of Budget in the Ministry of Budget and National Planning, Ben Akabueze made this known while fielding questions from participants at the…
-
Edo Govt. proposes N16.2bn as 2018 supplementary budget
Gov. Godwin Obaseki of Edo has proposed a N16.2-billion Supplementary Budget for the 2018 fiscal year to allow for more investments in education and agriculture, among other sectors. The information is in a statement by Special Adviser to the Governor on Media and Communication Strategy, Mr Crusoe Osagie in Benin on Wednesday. Osagie stated that…