Company Income Tax Revenue in Nigeria Surges by 151% in Q2 2024

In a remarkable financial turn, Company Income Tax revenue in Nigeria surged by 151% during the second quarter of 2024, climbing from N984.61 billion in Q1 to an impressive N2.47 trillion. This significant growth, reported by the National Bureau of Statistics (NBS), reflects the increasing contributions from both local and foreign companies. This leap highlights…

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CBN Raises N9.27tn via NTBs as Investors Seek Longer Maturities, Higher Returns

The Central Bank of Nigeria raises N9.27 trillion through NTBs, driven by investor demand for longer maturities and higher yields. In a move to meet rising investor demand, the Central Bank of Nigeria (CBN) successfully raised N9.27 trillion through Nigerian Treasury Bills (NTBs). The strong interest in NTBs in Nigeria reflects investors’ appetite for longer…

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Nigerians Struggle to Locate N40,000 Subsidised Rice Sales Points

FCT Residents Express Frustration Over Difficulties in Locating Subsidised Rice Sales Points Residents of Nigeria’s Federal Capital Territory (FCT) are finding it increasingly difficult to access the N40,000 subsidised rice, an initiative launched by the government to alleviate food costs. Although the sale of 30,000 metric tonnes of milled rice at this reduced rate was…

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Marketers Gear Up for Petrol Import as NNPCL and Dangote Negotiations Face Delays

Oil marketers are preparing to import petrol due to prolonged discussions between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery. The delays have led to uncertainty, with the NNPCL indicating it will only purchase petrol from the Dangote Refinery if the market price exceeds local pump prices. As a result, marketers are eyeing…

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