BUSINESS

Prepare for turbulence in financial markets, IMF tells Nigeria, others

Daily Dispatch January 27, 2022

The International Monetary Fund has advised Nigeria and other developing economies with large foreign currency borrowings and external financing need to prepare for turbulence in financial markets. The Washington-based lender also said countries such as Nigeria should consider extending their

BUSINESS

2021 Performance: “We Achieved Over 100% Of Our Target” – FIRS

Daily Dispatch January 27, 2022

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 2020/2021, the Service achieved over a hundred percent

BUSINESS

NNPC has requested N3trn as fuel subsidy for 2022 – Finance Minister

Daily Dispatch January 27, 2022

The Nigerian National Petroleum Corporation has requested the sum of three trillion naira (N3,000,000,000,000) as fuel subsidy for 2022. Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed, disclosed this to State House correspondents after the Federal Executive Council meeting which was chaired by President Muhammadu Buhari on Wednesday. “In 2022,

BUSINESS

Fuel scarcity: NNPC warns against panic buying

Daily Dispatch January 27, 2022

The Nigerian National Petroleum Corporation, NNPC, Limited, has warned Nigerians against panic buying of petrol, saying there is no need for it. This is as it announced that it had sufficient product to meet the needs of Nigerians. The NNPC gave the warning in a statement by its Group General Manager, Group Public Affairs Division, […]

BUSINESS

Banks refuse to remit N1.2trn FG money, as 71m Nigerians use accounts without ID

Daily Dispatch January 26, 2022

The House of Representatives, Wednesday, alleged that 71 million Nigerians still operate their banks’ accounts without identification, just as it noted that trillions of Naira belonging to the Federal Government were being held by commercial banks. The House, therefore, set up an ad hoc committee, headed by Unyime Idem (PDP, Akwa Ibom), to investigate the […]

BUSINESS

Senate approves N215.8bn budget for FIRS in 2022

Daily Dispatch January 26, 2022

The Senate on Wednesday approved the sum of N215,811,290,243 billion as budget for the Federal Inland Revenue Service, FIRS, for the 2022 fiscal year. The approval followed the consideration of a report by the Committee on Finance during plenary. Chairman of the committee, Senator Solomon Olamilekan Adeola (Lagos West), in his presentation, said out of […]