BUSINESS

Nigeria generates N1trn VAT in six months – NBS

Daily Dispatch August 10, 2021

Nigeria generated Value Added Tax (VAT) estimated at N1trillion between January and June, 2021, the National Bureau of Statistics (NBS), has disclosed. The NBS stated this in its “Sectoral Distribution of Tax” Report for the second quarter of 2021. According to the Bureau, VAT generated in the

BUSINESS

2021 Budget: FG appoints advisers for Eurobond Issuance

Daily Dispatch August 4, 2021

Activities by Nigeria towards the issuance of Eurobonds in the International Capital Market (ICM) inched forward on Wednesday with the appointment of Transaction Advisers by the Federal Government. This was disclosed in a statement by the Debt Management Office (DMO) in Abuja on Wednesday. Typical of Eurobond Issuance, Transaction Advisers of various categories are

BUSINESS

NNPC records petroleum product sale of ₦234.63bn in March

Daily Dispatch August 1, 2021

The Nigerian National Petroleum Corporation (NNPC) has announced that its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), recorded ₦234.63 billion revenue from the sale of white products in the month of March 2021 representing a 24.7% increase from the ₦188.15billion sales recorded in the previous month of February 2021.This is contained in the

BUSINESS

FG reduces gas to power price from $2.50 to $2.18

Daily Dispatch July 29, 2021

The Federal Government has announced the reduction of the price of gas to power from $2.50 to $2.18 with immediate effect. The Minister of state for Petroleum Resources, Timipre Sylva, made the announcement while declaring open the 2021 Gas Sector Stakeholders Forum organised by the Gas Aggregation Company of Nigeria (GACN) and the Nigerian National […]

BUSINESS

CBN releases N756bn to over three million farmers to boost food security

Daily Dispatch July 28, 2021

The Central Bank of Nigeria (CBN), said it had released the sum of N756.51 billion to 3,734,938 small holder farmers, cultivating 4.6 million hectares of land, to boost the Federal Government’s food security initiative. Mr Godwin Emefiele, the CBN Governor, made this known while presenting a communiqué from the bank’s recently

BUSINESS

CBN bans sale of foreign exchange to BDC operators

Daily Dispatch July 27, 2021

The Central Bank of Nigeria (CBN) has announced an end to the weekly allocation and sale of foreign exchange to Bureau De Change (BDC) operators in the country. CBN Governor, Godwin Emefiele, made the announcement on Tuesday while briefing reporters on the outcomes of the Monetary Policy Committee (MPC) meeting in Abuja, the Federal Capital […]