FG Cuts Late Tax Payment Interest Rate
By Oluwakemi Kindness The Federal Government has reduced the interest charged on late payment of taxes in naira from five percentage points above the Central Bank of Nigeria’s Monetary Policy Rate to one percentage point. The new rate takes effect from October 1, 2026, according to a statement on Thursday by the ministry. The Minister […]
NSITF Hits 85% of 2026 Contribution Target By Mid-Year
By Chinedu Echianu The Nigeria Social Insurance Trust Fund (NSITF) says it has achieved about 85 per cent of its 2026 contribution target within the first half of the year, despite undergoing significant institutional changes. Managing Director, Oluwaseun Faleye, disclosed this while declaring open the NSITF 2026 Half-Year Management Performance Review, held simultaneously across six […]
FG to Release Fuel Subsidy Savings Report Within Days
By Mardiyyah Abubakar The Federal Government says it will soon publish a detailed report showing how it used savings from the removal of fuel and foreign exchange subsidies. Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, made the promise on Thursday at the 7th Africa Emerging Markets Forum in Abuja. Oyedele said Nigerians […]
Tinubu Seeks $2.34bn Loan to Fund 2025 Budget
By Oluwakemi Kindness President Bola Ahmed Tinubu has formally requested the approval of the House of Representatives for the Federal Government to raise $2.34 billion in external capital to fund part of the 2025 budget deficit and refinance maturing Eurobonds. In a letter read by Speaker Tajudeen Abbas during Tuesday’s plenary, President Tinubu said the […]