Delayed remittances: Customs enforces 3% penalty interest on Nigerian banks
The Nigeria Customs Service has announced the enforcement of a 3 percent penalty interest on Nigerian banks that fail to remit collected revenues on time. The move is aimed at strengthening financial discipline and ensuring government funds are promptly paid into official accounts. According to Customs, delayed remittances by banks have affected revenue flow to […]
Why Tinubu’s 15% import duty on petrol is good for Nigeria – Rewane
Financial expert Bismarck Rewane has said that President Bola Tinubu’s 15% import duty on petrol will benefit Nigeria in the long run. According to him, even though the policy may cause short-term price increases, it is designed to strengthen the nation’s economy and reduce reliance on imported fuel. Rewane explained that Nigeria cannot continue depending […]
Nigerian petrol retailers, PETROAN, back Tinubu’s 15 percent import duty on petrol
The Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) has expressed full support for President Bola Ahmed Tinubu’s decision to impose a 15 percent import duty on petrol. The association stated that the policy would help strengthen Nigeria’s petroleum sector and boost government revenue. PETROAN noted that although the policy may come with challenges, it […]
To use revenue as evidence of progress is not to understand economics – Pat Utomi slams FG
Professor Pat Utomi, a well-known political economist, has strongly criticized the Nigerian government’s current economic direction. He said that focusing too much on collecting revenue is not helping the economy grow. During an interview on Politics Today aired on Channels Television, Utomi explained that the government is spending too much money on political matters instead […]
I can beat my chest and say that each governor knows that their allocations to the states have tripled – President Tinubu speaks on the gains of removing fuel subsidy
President Bola Tinubu has reassured Nigerians that his administration is committed to the country’s progress, despite criticism from the opposition. Speaking to members of the All Progressives Congress (APC) National Caucus at the State House Conference Center in Abuja on Tuesday, February 25, Tinubu emphasized that his government prioritizes real results over political distractions. “Our […]