A Dataphyte review of the 2019 audit report has revealed that the Ministry of Agriculture and Rural development shortchanged the country in amounts running into several millions of naira.
The details of the 2019 audit report cast a big doubt on the commitment of Africa’s most populous nation to fighting corruption and ensuring proper use of government funds.
The 2019 audit report has revealed that the Central Bank of Nigeria recorded zero naira (nil) as recovered funds between 2016 and 2019.
Value Added Tax (VAT) is a consumption tax levied on a product at every point of sale when value is being added. It is collected by the Federal Inland Revenue Service. At every stage of production up to the ultimate level of the final buyer, value added tax is paid.
Dataphyte’s review of Nigeria’s 2019 audit report has shown that Nigerian Ministries, Departments and Agencies spent monies running into trillions of naira without appropriation or financial transparency.
Dataphyte Advisory Note titled ‘the Nigerian Post-oil Economy: Going the Housing Consumer Credit Path’ has posited that Nigeria is yet to fully tap the potentials of its housing sector. According to details in the advisory note, if maximised, the Housing Sector could bring about economic growth and improve employment opportunities in the country.
Nigeria is Africa’s most populous country and the most populous black nation in the world.
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Nigeria’s President, Muhammadu Buhari, revealed that the country needs $1.5 Trillion to fix the infrastructure gap over the next ten years.
Climate change continues to be an important issue of discourse globally. As part of efforts toward ensuring that there are actions toward achieving the SDG 13, combating climate change and its impact, world leaders are meeting at Glasgow, for the 2021 Climate Change Conference (COP26) which got underway on Sunday 31st October.
Nigeria’s currency is weaker than Afghanistan’s Afghani and Pakistan’s Rupee on the international market. Currently, one dollar equals N411 (Naira). 79.92 AFN (Afghani), and 174. 43 PKR (Pakistani rupee).
In August 2021, Nigeria signed the Petroleum Industry Bill (PIB) into law. Before signing the bill, there had been concerns over the solvency of the Nigerian National Petroleum Corporation (NNPC), especially as it failed to record profit and the corporation’s revenue accounted for a part of the federal government’s revenue. In this report, we bring to you key points and major highlights of the act especially in relation to the profitability of the NNPC, host communities and gas flaring.
The Federal government stated that it intends to attract the best brains to the education sector.
The defence budget has come under scrutiny over the last few years, especially as the state of insecurity in the country has continued to worsen. Banditry, kidnappings and sectoral violence combined with the decade-long war against Boko Haram has put the country on the map as an extreme travel security risk.
A Dataphyte analysis of the just presented 2022 Budget by President Muhammadu Buhari has revealed that 38% of it will be financed by loans.
On Monday, at the opening of a 2-day South-West zonal public hearing on the review of revenue allocation formula organized by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Babajide Sanwo-Olu, Lagos State Governor, demanded special status recognition for the state.
