Conoil Posts 60.5% Revenue Surge, Declares Dividend
Conoil Plc reports a massive 60.5% revenue growth to N323.1bn for 2024, proposing a N2.4bn dividend. Discover how Nigeria's downstream giant thrived despite economic headwinds.
Category : Search result: federal government revenue
Northern Elders Back FIRS, Tinubu Reforms, Reject NEF
A new Northern elders' group rejects NEF's criticism of FIRS and Tinubu's economic reforms, praising revenue gains and transparency. Read their full statement.
Federal Government Reopens 47 Unity Schools
The Federal Government has reopened the 47 Unity Colleges shut in November over insecurity. The Ministry of Education assures safety measures are in place. Read more.
FG Reopens 47 Unity Schools After Security Boost
The Federal Government has ordered the immediate reopening of 47 unity schools previously closed due to insecurity. Students have returned safely as academic activities resume nationwide.
Customs Slaps Banks with Penalty for Late Revenue Remittance
The Nigeria Customs Service warns designated banks over delayed remittance of collected revenue. Defaulters face a penalty interest of 3% above NIBOR. Details inside.
Nigeria's Debt, Salaries Exceed Revenue in 2025
Nigeria's Federal Government spent more on debt servicing and salaries than it earned in 2025's first seven months, with a N10.19tn revenue shortfall. Oil earnings slumped over 60%. Read the full analysis.
Tax Reforms, Revenue Crisis Threaten Nigeria's 2026 Fiscal Plan
President Tinubu's N43.56tr spending plan and 2026 budget face hurdles amid legislative disagreements over oil benchmarks and mounting opposition to new tax reforms. Will Nigeria miss another budget?
Wike Reinstates FCT Education Secretary, IRS Chairman
FCT Minister Nyesom Wike has reinstated Danlami Hayyo and Michael Ango. The move follows suspensions linked to a disputed school closure memo and undisciplinary acts. Read the full details.
Edun Contradicts Tinubu on 2025 Revenue Figures
Finance Minister Wale Edun reveals a N30 trillion revenue shortfall, contradicting President Tinubu's claim of meeting the 2025 target. Details on the budget deficit and borrowing plans inside.
Nigeria's 2025 Revenue Shortfall Hits N30 Trillion
Finance Minister Wale Edun reveals the Federal Government may fall short of its 2025 revenue target by N30 trillion. Discover the causes and government's response. Read more.
Pfizer Shares Fall on Weak 2026 Profit Outlook
Pfizer shares tumbled after the drugmaker projected flat revenues and lower profits for 2026, citing declining Covid-19 sales and heavy investment in new products like weight-loss drugs.
FG, States, LGs Share N1.9trn as FAAC Allocation Drops
The Federation Account Allocation Committee (FAAC) distributed N1.928 trillion for November 2025, a significant drop from October. See the full breakdown for FG, states, and LGs.
Federation Account Hits N23trn in 10 Months
Revenue inflows into Nigeria's Federation Account surged to N23.06 trillion in the first ten months of 2025, driven by fiscal reforms and digital tracking. Learn about the growth and the new tax law.
FAAC Revenue Falls by N428bn, N1.93trn Shared
FAAC reports a sharp N427.969bn drop in November revenue, sharing N1.93 trillion among FG, states, and LGs. Key taxes see substantial declines. Read the full breakdown.
Senate Condemns Multiple Budgets, Raises FIRS Target
Nigerian Senate criticizes multiple budgets in one year, pushes FIRS revenue target to N35 trillion for 2026. Details on the N30tr shortfall and fiscal reforms.
N66.42tr Hits Federation Account in 3 Years
Nigeria's Federation Account gross inflows hit N66.42 trillion from 2023 to Oct 2025, driven by fiscal reforms. RMAFC Chairman cites economic progress despite citizens' concerns. Read full analysis.
ADC to Protest FG's N500bn Debt to Contractors, Pensioners
The African Democratic Congress (ADC) threatens to join ongoing protests by unpaid local contractors and pensioners. The party condemns the APC-led Federal Government's staggering debts, calling it insensitive governance.
Wike Sacks FCT-IRS Acting Chairman, Senior Official Takes Over
FCT Minister Nyesom Wike has removed Michael Ango as acting chairman of the FCT Internal Revenue Service. The reason remains undisclosed. Read the full details and implications here.
Supreme Court Calls Out FG Over LG Autonomy
Nigeria's Supreme Court has called on the federal government to implement its judgment granting financial autonomy to 774 local governments. The court dismissed Osun state's suit. Full details inside.
Supreme Court Dismisses Osun's LG Funds Suit
Nigeria's Supreme Court has dismissed Osun State's suit to compel the Federal Government to release withheld local government allocations. Read the full details and implications of the verdict.
Ex-FECA Provost Urges Scientists to Monetise Research
Former FECA Provost Dr. Adeola Odedina advises scientists to convert research into profitable ventures for personal financial growth. Learn how to bridge academia and entrepreneurship.
Executives: Data Discipline Unlocks Digital Revenue in Nigeria
At the Leadway Digital Growth Summit, industry leaders warned that Nigerian firms must adopt stricter data discipline and deeper collaboration to achieve measurable returns on digital marketing investments. Discover the key strategies.
Rivers LGA Unveils ARISE Plan for Development
Obio/Akpor LGA launches the OBALGA ARISE framework to enhance administration, infrastructure, and security. The plan aims to attract investment and transform the local economy. Read more.
MTEF Approved, 2026 Budget Process Begins
The Federal Executive Council has approved the Medium-Term Expenditure Framework, setting the stage for the 2026 budget. Ministers Bagudu and Edun detail plans to manage capital rollovers and address the revenue-expenditure gap.
7 Arrested for Illegal Revenue Collection in Anambra
OCHA Brigade arrests seven individuals for illegal extortion in Amansea. Suspects paraded and remanded. State vows to curb unauthorized levies during festive season.
FG Urged to Unlock N70tr Maritime Revenue for Debt
Olisa Agbakoba Legal urges FG to implement maritime reforms, unlocking N70 trillion yearly to service Nigeria's N152.4 trillion public debt and stop massive revenue losses.
Manufacturing Tops Nigeria's VAT Revenue in H1 2025
Nigeria's manufacturing sector contributed N584.63bn to VAT revenue in the first half of 2025, leading all sectors despite economic challenges. Read the full NBS report analysis.
FG Offers ASUU Lecturers 40% Salary Increase
The Federal Government has proposed a 40% salary increase for university lecturers as ASUU's ultimatum expires. Will this avert a nationwide strike?
DisCos Record N45b Revenue Shortfall in September 2025
NERC data reveals electricity distributors collected N196.26b of N241.54b billed in September 2025, creating N45.28b shortfall. Collection efficiency improved to 81.25%. Discover which DisCos performed best.
CIT Revenue Reaches N2.78 Trillion in Q2 2025
Federal government records N2.78 trillion company income tax in Q2 2025, a 40.27% quarterly increase. Financial services sector drives growth while manufacturing faces challenges.
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