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Federal Government Earned 1.5 Trillion From VAT In 2020
The Federal Government has generated a sum total of N1.531 trillion from Value Added Tax in 2020. This was disclosed in the latest report published by the National Bureau of Statistics on Sectoral distribution of Value Added Tax for the fourth quarter of 2020. The report reads: “Sectoral distribution of Value Added Tax data for…
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REPORT: Price of Petrol Increased in 2020
The average price paid by consumers for premium motor spirit (petrol) increased within twelve months in 2020. The National Bureau of Statistics in its latest report revealed that petrol was sold between a minimum of N130 and N167 from January to December 2020. In the first quarter of the year in view, petrol was sold…
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REPORT: Price of Diesel Increased In December 2020
The National Bureau of Statistics in its latest report has said that the average price paid by consumers for automotive gas oil (diesel) increased by N224.37, 0.28 percent in December. According to the report, while the price increased month over month, it decreased by -2.37% year-on-year from N229.81 to N224.37. “States with the highest average…
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REPORT: Price Of Refilling Cooking Gas Increased In 2020
The rising inflation on the sales of food products in Nigeria’s market also reflected on the cost of refilling cooking gas in the country. The National Bureau of Statistics reported that the average price of refilling a 5kg or 12kg liquefied petroleum gas (cooking gas) increased by 0.12 percent and 1.75 percent respectively In the…
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FIRS Revenue Drops In 2020
The Federal Inland Revenue Service (FIRS) collected the sum of N4. 952 trillion in total tax revenue in the year 2020 as against previous years. Director Communications and Liaison, Mr Abdullahi Ahmad, said in a statement, that the figure represented approximately 98 per cent of the national tax target of N5.076 trillion set for the…
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In Six Years, Over Hundred Thousand Retirees Withdraw N29.26bn
According to information obtained from the National Pension Commission, in six years, a total of 118,044 retirees have withdrawn N29.26bn from their Retirement Savings Accounts. These retirees have left the Contributory Pension Scheme because they had low balances in their accounts which could not be utilised as monthly stipends. The affected retirees were those that…
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Nigeria Ranks No.2 Bitcoin Market in the World
Over the last five years, Nigeria has traded 60,215 bitcoins, valued at more than $566 million which, apart from the US, is the largest volume worldwide on Paxful, a leading peer-to-peer bitcoin marketplace. The data scraped from Coin Dance shows from the beginning of May 2015 to the middle of November this year, bitcoin trade…