FG, States Get Higher Allocation as FAAC Disburses N786.161 Billion May Revenue
FIRS targets 40mCommittee traders in fresh initiative to improveofVAT remittance by informal sector (FAAC) yesterday stakeholders. the economy, the Federal to collect and remit consumption the N655.93 billion shared in the
Ndubuisi Francis and James Emejo in Abuja
The Federation Account Allocation
disbursed the sum of N 786.161 billion as May 2023 federation account revenue to relevant
Also, worried by the low level of Value Added Tax (VAT) remittance in the informal sector
Inland Revenue Service (FIRS) has partnered with the Market Traders Association of Nigeria (MATAN)
tax to the former. The FAAC allocation indicated an increase of N130.230 billion over
preceding month.
Continued on page 5
Shelve Electricity Tariff Hike for Collective Safety, NLC Tells FG... Page 6 Friday 23 June, 2023 Vol 28. No 10299. Price: N250
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Curse of Titanic Resonates as Titan Submersible Implodes, Killing All Five on Board... Page 35
Tinubu in Paris: Ignoring Nigeria Will Be Perilous to the Universe Joins world leaders to tackle debt, poverty issues Says he’s prepared for business, ready for investors to come to Nigeria Meets with Afreximbank, EBRD presidents At meeting with Shettima, Gates foundation votes $7bn interventions for Africa in next four years
Deji Elumoye in Abuja President Bola Tinubu, yesterday, in Paris, France, warned that ignoring Nigeria with her large and potent economy would be a peril to the universe. Tinubu, however, joined other world leaders on the consensus for redesigning the global financial architecture that would favour poverty reduction, debt restructuring or cancellation, and more consideration for vulnerable countries affected by climate change and Covid-19. He also declared that the ongoing reforms, starting with removal of fuel subsidy and streamlining of exchange rate, would be sustained for a more competitive economy that would attract Foreign Direct Investment (FDI) into the country, and therefore, urged foreign investors to take advantage of opportunities in Nigeria. Tinubu, who received President and Chairman of the Board of Directors of African Export-Import Bank (Afrexim), Prof. Benedict Oramah and President of European Bank for Reconstruction and Development (EBRD), Odile Renaud–Basso, at Continued on page 5
TINUBU MEETS THE MACRONS...
L-R: President of France, Emmanuel Macron; President Bola Ahmed Tinubu, and wife of France President, Brigitte Marie-Claude Macron, at a Banquet in Paris…yesterday