BUSINESS

Petrol price set to crash in Nigeria – CBN Governor

Daily Dispatch January 24, 2024

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has projected a fall in the pump price of petrol in Nigeria. CBN boss, who spoke on Wednesday in Lagos during the launch of the Nigerian Economic Summit Group (NESG) 2024 Macroeconomic Outlook Report, based the projection on

BUSINESS

Tinubu: Our interventions in oil and gas sector will safeguard and enhance value of investments

Daily Dispatch January 23, 2024

President Bola Tinubu says his administration will continue to provide the needed interventions in the oil and gas industry in line with the provisions of the Petroleum Industry Act (PIA). Speaking when he received a delegation from the Chevron Corporation, led by Mr. Clay Neff, President of Chevron International Exploration and Production, on Tuesday in […]

BUSINESS

State Govts’ power on Stamp Duties not extended to banking transactions – Ubani, Tax Consultant

Daily Dispatch January 23, 2024

By Emmanuel Kehinde, Ilorin  A tax consultant to many states government on stamp duties, Mr. Francis Uzoma Ubani, has said that the powers given to the State Governments through their respective Revenue Authorities to administer stamp duties by ensuring the assessment, collection and accounting for stamp duties between individuals into the State Governments Revenue

BUSINESS

NNPC Ltd to pay royalties, taxes from $3.3bn Afrexim loan

Daily Dispatch January 22, 2024

The Nigerian National Petroleum Company Limited, on Sunday, said it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank last year. NNPC Ltd disclosed this in a document entitled, ‘Frequently Asked Questions – Project Gazelle’, released by its Chief Corporate Communications Officer, Olufemi

BUSINESS

OGIRS digitalises minimum tax for improved revenue performance

Daily Dispatch January 21, 2024

In a bid to achieve year 2024 revenue target and improve its performance, Ogun State Internal Revenue Service (OGIRS), has digitalised the minimum tax payment process. The Chairman of OGIRS, Mr. Olugbenga Olaleye, while charging participants at a training session, organised for Tax Office Managers and Officers in the Minimum Tax Unit in Abeokuta, said […]

BUSINESS

Otedola acquires N6 billion Dangote Cement shares

Daily Dispatch January 20, 2024

Billionaire tycoon Femi Otedola has racked up shares worth N6 billion of Dangote Cement Plc, a source with knowledge of the transactions said Mr Otedola, the source said, acquired the shares in his name. Sub-Saharan Africa’s largest cement maker Dangote Cement recently leapfrogged telecommunications powerhouse Airtel Africa to become Nigeria’s biggest company by market