Revenue

The Federal Government announced yesterday that revenue-generating agencies will no longer be allowed to retain a portion of the funds they collect. This marks the end of the long-established practice of making deductions for the cost of…

The Federation Account Allocation Committee (FAAC) has distributed ₦2.001 trillion as revenue for July 2025 among the federal, state, and local governments. The total gross revenue for July amounted to ₦3.837 trillion. Out of…

...Commends Ogun Governor Prince Dapo Abiodun for Industrial Foresight  The Comptroller-General of Customs (CGC), Adewale Adeniyi, has commended Ogun II Area Command's impressive revenue performance and pledged support to…

- Aradel Holdings CEO: Adegbite Falade Compensation: N2.43 billion FY 2024 Financial Results: Revenue: ₦581.0 billion (↑ 162.7% YoY) Gross Profit: ₦319.8 billion Operating Profit: ₦297.4 billion Profit Before…

The Chartered Institute of Bankers of Nigeria has today announced a historic net operating surplus of N1.37 billion for 2023, marking a 63.60% growth from the previous year. President Dr. Ken Opara revealed this during the…

Mr Basil Omiyi, the Chairman of Board, Seplat Energy, said the company’s total revenue rose by 29.8 per cent to $951.8 million as at financial year ended Dec. 31, 2022. Omoyi said this during his address  at the company’s 10th…

At least 172 companies may not benefit from about N2.4tn tax waivers under the Pioneer Status Incentive and other tax exemptions as the Federal Government moves to phase out some tax waivers effective 2022, findings have shown. The…

The three tiers of government shared N954.085 billion as federation allocation for the month of July. The Federation Account Allocation Committee (FAAC) disclosed this in a statement signed by Phil Abiamuwe-Mowete, a spokesperson for the…

A World Bank report says natural disasters cost Nigeria and other low- and middle-income countries $390 billion annually in lost revenue due to power, telecommunication, transportation, and water disruptions. This was disclosed in an…

Revenue allocation to federal, state and local governments has declined from a peak of N970.57bn in July 2021 to N680.783bn in May 2022, representing a 30 per cent reduction over the period. The decrease in allocation to these levels of…