Tag: Non-oil revenue

FG scraps Customs ’ 7% FAAC deduction, frees up billions for revenue sharing

Business Damilola Bayonle -
Nigeria’s fiscal framework has undergone a significant shift following a new policy direction that alters how one of its...

NRS targets ₦40.71tr in 2026 as Nigeria pushes for fiscal self-reliance

Business Damilola Bayonle -
Nigeria’s fiscal authorities have raised the stakes for domestic revenue mobilisation as the Nigeria Revenue Service (NRS) announced an...

FG releases N2.45tn to states for infrastructure and security as fiscal support deepens

Business Damilola Bayonle -
FG Disburses N2.45tn to States for Infrastructure, Security The Federal Government has disbursed a total of N2.45 trillion to state...

FG may raise alcohol, cigarette taxes as $750m World Bank loan drives major reforms

Business Damilola Bayonle -
Nigeria’s Federal Government may introduce higher excise duties on alcohol, tobacco, and other so-called “sin goods” from 2026 as...

Nigeria Customs Service hits historic ₦7.28tn revenue in 2025 as reforms pay off

Business Damilola Bayonle -
Nigeria Customs Service Revenue 2025 Reflects Impact of Deep Reforms The Nigeria Customs Service (NCS) has recorded one of its...

IMTOs inflows decline: CBN data reveals $276m shock drop and Rlrising FX concerns

Business Damilola Bayonle -
IMTOs inflows decline raises fresh concerns for Nigeria’s FX market Nigeria’s external revenue profile came under renewed scrutiny in the...

Federation account inflows hit ₦23.06tn as tax reforms transform Nigeria’s revenue system

Business Damilola Bayonle -
Nigeria’s public finance landscape recorded a major milestone in 2025 as Federation Account inflows climbed to ₦23.06 trillion within...

FIRS deploys EFCC to enforce tough tax compliance

Business Damilola Bayonle -
The Federal Inland Revenue Service (FIRS) has announced a deeper collaboration with the Economic and Financial Crimes Commission (EFCC)...

DMO achieves landmark N3.03tn domestic funding

Business Damilola Bayonle -
The Debt Management Office (DMO) has disclosed that it raised approximately N3.03 trillion from domestic borrowing between January and...