22 June 2018 ( Lagos ):

How FG’ will raise N9.1tn to fund 2018 budget: The Minister of Budget and National Planning, Udo Udoma, has explained how the N9.1tn revenue to finance the 2018 budget will be raised by the Federal Government.(Source:Punch)

AMCON recovers N731bn from bank debtors in seven years: The Asset Management Corporation of Nigeria (AMCON) recovered N731bn (US$2bn) from bank debtors since its inception in 2010 to December 2017. Out of this amount, properties accounted for approximately 35%. (Source: Punch)

Revenue from car importation drops by 20%: The Nigerian Ports Authority said that revenue on car importation into the country dropped by 20 per cent this year, a fallout of the Federal Government’s Automobile Policy.(Source:Punch)

180 SMEs get education on tax compliance: In a bid to get more people into the tax net through the Federal Government’s Voluntary Asset and Income Declaration Scheme, an initiative has been launched with the aim of making about 180 operators in the Micro, Small and Medium Enterprise sector of the economy tax-compliant.(Source:Punch)

Signed budget fails to lift stock market: The nation’s stock market closed on a negative note for the fifth straight session on Thursday, a day after President Muhammadu Buhari signed the 2018 budget.(Source:Punch)

2018 budget difficult to implement with NASS’ alterations, says Buhari: President Muhammadu Buhari on Wednesday lamented that the 2018 Appropriation Bill which he signed into law would be difficult, if not impossible, to implement because of the alterations members of the National Assembly effected on the document he submitted to them on November 7, 2017. He accused the federal lawmakers of, among others, increasing the National Assembly budget from N125bn (US$346.3m) to N139.5bn (US$386.4m), without any discussion with the Executive. (Source: Punch)

Nigeria may lose over US$561.2m, N334.2m to petrol import rebate: Nigeria is to lose US$561.2m, as well as N334.2m (US$.9m) in revenue due to indiscriminate approval of 50% rebate approved by Federal Government on imported petrol this year, it was learnt yesterday. The rebate has not yielded the desired result of bringing down the N145/ltr price of petrol, the Managing Director, Nigerian Ports Authority (NPA), Hadiza Usman told a House of Representatives panel. (Source: The Nation)

Total Nigeria’s shareholders get N5.77b dividend: Shareholders of Total Nigeria Plc will today receive N4.75 billion in final cash dividend for the 2017 business year.(Source: The Nation)

Dangote invests N121b on domestic sugar production: Dangote Sugar Refinery (DSR) Plc, a subsidiary of Dangote Industries Limited, has so far invested N121 billion on its ambitious Sugar for Nigeria Backward Integration Project Plan, which is aimed at developing domestic sugar production capacity through home-grown sugarcane.(Source: The Nation)

NNPC signs $3bn oil, gas development deal: The Nigerian National Petroleum Corporation (NNPC) had signed over three billion dollars oil and gas development deal to ensure development in the sector.(Source:Vanguard)

Nigeria’s unbanked population stands at 37%: Barely two years to the 2020 target to reduce unbanked Nigerians to 20 per cent, the Central Bank of Nigeria (CBN) says the country’s unbanked population currently stands at 37 per cent.(Source:Vanguard)

Investors’ wealth depreciates by N186b in three trading days: The bears continued to maintain dominance on the equities sector of the Nigerian Stock Exchange (NSE), as major highly capitalised stocks suffered price depreciation, causing investors’ wealth to dip by N186 billion in three trading days.(Source:Guardian)

Aviation records growth with 14.1m passenger traffic:  Initial conflicting figures notwithstanding, the harmonised data of the aviation industry has shown a positive outlook for air travel business, with marginal growth across the board in 2017(Source:Guardian)

Reporting for EasyKobo on Friday, 22 June 2018 in Lagos, Nigeria