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Buhari also explained that the need to borrow more funds is to meet the “emerging needs” of some “critical projects.”

Lagos will implement a recent law that empowers it to collect value-added tax (VAT), a state lawmaker has said.

Drama As Nollywood Actress, Iyabo Ojo took to social media to blast Funke Akindele for paying Blogs to discredit Toyin Abraham’s new movie. Iyabo Ojo slammed her colleague, Funke Akindele on Instagram regarding a comment she made on a film review page. The actress accused Funke Akindele of sponsoring bad…

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Lagos governor Babajide Sanwo-Olu has signed into law the state value added tax (VAT) bill.

Should the lawmakers agree, only the federal government would be able to collect VAT in Nigeria.

The announcement is one of the outcomes of the Petroleum Industry Act (PIA) recently signed on the state-owned corporation in the global market.

The move could boost internally generated revenue (IGR) for states but take a toll on federal income.