The sharing formula must be reviewed to allocate more resources to the State and Local Governments because of the growing responsibilities they are shouldering in critical sectors such as Agriculture and food security..
The Federal Government has restated commitment to the review of the extant vertical revenue allocation formula to the three tiers of government in the country.
Enugu state government recorded an inflow of N20.1 billion with the first quarter of year 2021. The state’s Ministry of Budget and Planning yesterday stated that the state government recorded
“High turnover businesses can use loans as a hedge against inflation. Since the national currency value drops rapidly during such economic slowdown, when repaying such loans, what is being paid is actually a fraction of the amount borrowed in real terms-” Akin Monehin A country experiences inflation when there is a continuous increase in the…
Senate Committee on Finance has revealed that 60 government-owned enterprises failed to remit a total of N3trillion in six years, contrary to provisions of the constitution and Fiscal Responsibility Act...
A news report on the front page of The Nigerian Observer of Tuesday, May 4, 2021 came with a caption, ‘‘Edo deploys big data in tax administration as monthly IGR climbs to N2.8 billion.’’ The rider of that caption also said that IGR in Edo ‘‘ranks second behind Lagos....
Mr. Humphrey Igberase is an estate surveyor and valuer. He spoke to CHINEDUM UWAEGBULAM on why regulated sectors should embark on the valuation of assets before tariff setting and ways to resolve compensation issues in the sector. In Nigeria, companies, especially service providers that operate within the regulated sectors have failed to take cognisance of…
21 Aug 2020
The Federal Inland Revenue Service (FIRS) says a systemic abuse of the pioneer incentive scheme instituted by the Federal Government has led to tax revenue leakages
7 Aug 2020
Revenue crisis, compounded by the coronavirus pandemic, may push Nigeria to further borrowing, therefore pushing budget deficit beyond the projected N4.28 trillion to at least N6 trillion
27 May 2020
Although the lockdown may have been relaxed, the impact on businesses may lead to further high unemployment, reduction in consumers’ purchasing power
18 Feb 2020
Lagos State Governor Babajide Sanwo-Olu has said that the current revenue sharing formula in the country is far from being fair, just and equitable.