Good morning, here are the latest top business news headlines for today Thursday, August 2021.
RMFAC Set To Introduce New Revenue Sharing Formula For FG, States, LGs
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has made public its plans to begin the process for a new revenue-sharing formula for the federal, state, and local governments.
This was according to the RMAFC Chairman, Elias Mba, who made the…Read more
Reps Committee Rejects Customs N1.33 trillion Revenue Proposal
The House of Representatives Committee on Finance on Monday declined the N1.33 trillion revenue proposal of the Nigeria Customs Service (NCS) for 2022.
Some members of the committee stated that with emerging technology and the…Read more
Borrowing For Consumption Not Sustainable, Says Sanusi
The former Emir of Kano Muhammadu Sanusi II says that the Nigerian government cannot continue to borrow to consume while incurring huge debts for the future generation.
According to him, it is time for the government to decide on ending the…Read more
PIA Allows Individuals To Acquire NNPC Shares, Says Kyari
The Group Managing Director, NNPC, Mele Kyari, says a provision in the Petroleum Industry Act (PIA) allows individuals to buy shares in the new Nigerian National Petroleum Company Limited.
He, however, said the sales of NNPC shares will not commence immediately…Read more
House Of Reps Demands Govt. Agencies To Declare Revenue Profile
Government agencies such as the Nigerian Maritime Administration and Safety Agency (NIMASA) have been directed to provide details of their revenue profile or be “taken care of by the House”.
This was stated by the Chairman of the House Committee on Finance, James Faleke, at the…Read more
2022 Budget: Finance Minister Projects Nigeria’s Spending Level To Be N13.98trn
Nigeria’s aggregate expenditure spending is projected to be N13.98 trillion for the 2022 budget, revealed the Minister of Finance, Zainab Ahmed.
This projected expense forms a part of Nigeria’s 2022 budget, which includes…Read more
VAT Collection: ICAN Seeks Win-Win Situation For Stakeholders
The Institute of Chartered Accountants of Nigeria (ICAN), has implored Rivers and Federal Governments to amicably resolve the issue of VAT collection, to protect taxpayers and provide certainty to businesses.
Mr Ahmed Kumshe, the Registrar and Chief Executive of ICAN, gave the…Read more
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