Tags : Revenue

DisCos revenue surges by 47% to hit N757bn 

The Association of Nigerian Electricity Distributors’ 2021 report has said that the revenue collection by the 11 distribution companies increased by 47 per cent to N757bn in 2021. In the association’s report on the Commercial Key Performance Indicator for its members, it said NESI’s revenue collection in 2021 set a new record of N757bn, which […]Read More

Four FG Agencies Generate N28.02tn In Three Years

The Nigeria Extractive Industries Transparency Initiative has said that four revenue-generating agencies of the Federal Government have generated a total of N28.02tn between 2017 and 2019. These agencies include the Nigerian National Petroleum Company Limited; Federal Inland Revenue Service; Department of Petroleum Resources, now Nigeria Upstream Petroleum Regulatory Commission; and the Ministry of Mines and […]Read More

Nigeria Made N374.8bn From Gas Sale In 2021

Reports obtained from the Nigerian National Petroleum Company Limited showed that Nigeria made about N361.43 billion from gas export and N13.36bn from domestic gas sale in 2021. The data from the oil firm showed that the Federal Government through NNPC garnered the funds from the sale of Natural Gas Liquids/Liquefied Petroleum Gas, as well as […]Read More

Capital Importation Rises By 26% In Q4

According to new data from the National Bureau of Statistics, the value of capital importation into Nigeria increased by 26.35 percent to hit $2.19 billion in the fourth quarter of 2021. In its ‘Nigerian Capital Importation’ report, the NBS disclosed that capital importation increased from $1.73 billion in the third quarter of 2021 to $2.19 […]Read More

Nigeria Loses N150bn Annually To Fake Battery Products

An expert, Solomon Nwadiogbu, has estimated that Nigeria loses about N150bn annually to fake battery products. Nwadiogbu, who is the Chief Executive Officer, Emilinks Nigeria Limited, stressed that the circulation of these  fake battery products often cause damage to cars in the nation. According to him, Nigeria needs approximately five million batteries annually with an […]Read More

Import Bill On Used Vehicles Rises By 12%

Findings from the National Bureau of Statistics has shown that Nigeria’s spending on importing used vehicles rose by 12.6 percent to N617.48 billion in 2021. This is an increase from N548 billion in 2020 on the back of reduction in import duty on used vehicles. NBS Foreign Trade data in Goods Statistics report showed that […]Read More

Solid Minerals Revenue Rises By 54%

The Nigerian Extractive Industries Transparency Initiative  has said That revenue from the solid minerals sector to the Federation Account rose by 54 percent in 2020 to N128 billion compared to N75 billion recorded in 2019. This was disclosed in an audit report of the mining sector. NEITI in a statement by its Head, Communications & […]Read More

Merchandise Trade Deficit Rises By 171% in 2021

The National Bureau of Statistics had said the country’s merchandise trade deficit rose year-on-year to N1.93 trillion. This is an increase by 171 percent from N711.24 billion in 2020. NBS also said that total merchandise trade stood at N39.7 trillion in 2021, rising YoY by 57.5 percent from N25.2 trillion in 2020. The bureau disclosed […]Read More

FG Raked In N1.69tn Company Tax

According to statistics from the National Bureau of Statistics. The Federal Government raked in N1.69tn from company income tax in 2021. This is a 19.56 per cent increase from the N1.41tn that was collected in 2020. The NBS data showed that the Federal Government raked in N392.77bn during the first quarter of 2021, N472.07bn in […]Read More

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How FAAC Distributed N9.079tn In 2021

A compiled data of the Federation Account Allocation Committee disbursement has revealed that a total of N9.079 trillion was shared by all three tiers of government in 2021. According to the National Bureau of Statistics, the distribution was made to the Federal Government, States’ government and Local governments from revenue… You must be registered to […]Read More