- 1.The Federal Government says it has saved more than N218 billion from personnel cost since the introduction of the Integrated Personnel Payroll Information System.
The Payroll System’s Director, Mr Olusegun Olufehinti, said N67 billion was saved in 2017.
He said the new payment system helped at least 92 Ministries, Departments and Agencies (MDAs), which would have been unable to pay salaries due to deficits in their budgets.
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2.The Federal Inland Revenue Service says it realised over N2.5 trillion from tax collation in the first half of 2018 and has already achieved 75 per cent of its total target for the year.
This is contained in the Service’s 2018 Half Year Revenue Performance Report, which also showed that tax revenue improved by 42 per cent, compared with the same period in 2017.
According to experts, the figures indicate that the Voluntary Assets and Income Declaration Scheme of the Federal Government had grown revenue and the country’s tax base from 13 million in 2015 to 19.3 million in 2018.
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3.Nigeria’s Ambassador to the Netherlands, Oji Ngofa has expressed satisfaction with the current volume of trade between the two countries, which stood at three billion Euros (N1.2 trillion) in the first quarter of 2018.
The envoy said Nigeria was working assiduously to diversify its export base and increase non-oil exports from Nigeria to the Netherlands, in line with the administration’s Economic Recovery and Growth Plan.
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4.The Ministry of Mines and Steel Development says it will soon conclude its Gold Policy to give backing to gold processing and refining in the country.
The ministry hinted that with the policy in place, companies would be able to set up gold processing centres in Nigeria, while adding value to the economy.
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5.The China National Offshore Oil Corporation has pledged to invest an additional three billion dollars in its existing stakes in offshore oil and gas operations in Nigeria.
Mr Yuan Guangyu, the Chief Executive Officer of the Corporation, said over 14 billion dollars had been invested in its Nigerian operations, describing the investment as the most strategic important overseas business undertaking and its largest investment destination.
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