BUSINESS

Nigeria earns N808bn from VAT in 9 months – NBS

Daily Dispatch January 3, 2019

The National Bureau of Statistics (NBS), says the revenue generated from Value Added Tax (VAT) from sectoral distribution from first to third quarters of 2018 was N808 billion. VAT is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from

BUSINESS

NNPC’s security guards protest over unpaid 22-month salary

Daily Dispatch January 3, 2019

Private security guards attached to the National Petroleum Cooperation, who protect oil pipelines from Lokoja to Kaduna State, on Thursday staged a peaceful protest against the non-payment of 22 months’ salary arrears. The News Agency of Nigeria, reports that the protesting workers blocked the entrance to the NNPC depot at Awawa, Abaji Area Council, FCT […]

BUSINESS

Tradermoni : Fayose, PDP, mischievous says Presidency

Daily Dispatch January 3, 2019

The Presidency says it is mischievous, but not entirely out of character, for the immediate past governor of Ekiti State, Ayo Fayose, to attack TraderMoni. TraderMoni is an interest-free N10,000 loans given to petty traders under the Federal Government Social Investment Programme. Fayose was quoted to have recently described the TraderMoni scheme as a direct […]

BUSINESS

Ibe Kachikwu: We generated over $2 billion from oil block licences to fund 2019 budget

Daily Dispatch January 3, 2019

Nigeria’s Minister of State for Petroleum Resources, Mr Ibe Kachikwu, has said the Federal Government generated over $2 billion from the renewal of oil block licences. The former Group Managing Director the Nigerian National Petroleum Corporation (NNPC), said the funds will be used to implement the nation’s budget. “We have actually asked for early renewals, […]

BUSINESS

Forbes ranks Nigeria 110th best country for business

Daily Dispatch January 3, 2019

Forbes, an American business magazine, has ranked Nigeria as the 110th best country in the world for business. The magazine said it compiled the list by rating 161 countries on 15 factors: property rights, innovation, taxes, technology, corruption, infrastructure, market size, political risk, quality of life, workforce, freedom (personal, trade and monetary), red tape and

BUSINESS

NNPC: Crude output rises to 2.09 million bpd in 2018

Daily Dispatch January 2, 2019

Nigeria’s crude oil production rose to 2.09 million barrels a day in 2018 compared with 1.86 million bpd the year before, the state oil company, the Nigerian National Petroleum Corporation (NNPC), said. Africa’s largest oil producer, which is an OPEC member, relies on crude sales for around two-thirds of government revenue. “Nigeria’s crude oil daily […]