The Federal Inland Revenue Service surpassed its 2023 revenue target by N816bn, a 107 per cent performance over the set goal and has set a target to collect N19.4 turn in tax this year. The Coordinating Director of Special Tax Operations Group, Amina Ado, disclosed this at the 2024 management retreat on Wednesday. The Federal…
Oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria have berated the Nigerian National Petroleum Company Limited for alleged delay in the supply of petroleum products. As a result, the marketers said they had been forced to boycott the NNPCL to source fuel from private depot owners at a higher cost….
The Nigeria National Petroleum Corporation Limited and the Ministry of Finance have agreed to remit all their dollar revenues to the Central Bank of Nigeria, CBN, to boost the nation’s External Reserves and foreign exchange flows into the country. The apex bank’s governor, Olayemi Cardoso, disclosed this during his keynote speech at the launching of…
Shipowners have partnered with the Nigerian National Petroluem Corporation Limited to boost ship acquisition in the country. This was contained in a statement on Tuesday after a meeting between the shipowners and NNPCL in Lagos hosted by the Nigerian Chamber of Shipping. The Managing Director of Nigerian National Petroleum Company, Shipping, Mr Panos Gliatis, suggested…
The Nigerian National Petroleum Company Limited has constructed a 150 million litres storage facility for the Port Harcourt Refining Company ahead of full operations of the plants, the company stated on Wednesday. It said the storage facility was constructed in Atlas Cove, adding that the company had signed Build, Operate and Transfer agreements for the…
Alcohol “will be sold to non-Muslim diplomats” who previously had to import alcohol via a diplomatic pouch, one of the sources said. Prohibition has been the law of the land in Saudi Arabia since 1952, shortly after one of King Abdulaziz’s sons got drunk and, in a rage, shot dead a British diplomat. Rumours have…
Africa’s Global Bank, United Bank for Africa Plc says it has continued to elevate its global standing, coveting several prestigious international awards, signaling the Bank’s continuous contributions to the economic development of Africa. The bank in a statement said the recognition of its outstanding performance reaffirmed its status as a leading player in the financial…
The Nigerian National Petroleum Company Limited, on Sunday, said it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank last year. NNPCL disclosed this in a document titled, ‘Frequently Asked Questions – Project Gazelle’, released by its Chief Corporate Communications Officer, Olufemi Soneye,…
The Dangote Petroleum Refinery is to supply fuel to about 150,000 retail outlets operated by the Independent Petroleum Marketers Association of Nigeria following a meeting between the management of the refinery and executives of IPMAN. Last week Monday, The PUNCH exclusively reported that IPMAN had scheduled a meeting with the management of Dangote refinery as…
