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NNPC Limited
@nnpclimited
PRESS RELEASE
NNPC Ltd Announces 1.8mbpd Production, Eyes 2mbpd by Year End
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its partners have revved up crude oil and gas production to 1.8million barrels per day (mbpd) and 7.4standard cubic feet per day (scfd).
The company which announced this at a press briefing on Thursday said the feat was achieved in compliance with the mandate of President Bola Ahmed Tinubu.
Speaking on the development, the Group Chief Executive Officer, Mr. Mele Kyari, congratulated the Pr...
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Nigeria plans $28 bln spending for 2025 budget, minister says
By Reuters
November 14, 20245:03 PM
Nigeria plans 47 trillion naira ($28.18 billion) spending for its 2025 budget, using an assumption of an oil price of $75 per barrel and target production of 2 million barrels per day, the country's budget minister said on Thursday.
The budget includes a deficit of 13.8 trillion naira, or 3.87% of estimated GDP, Atiku Bagudu told reporters after a cabinet meeting in Abuja.
The 2025 budget also includes a forecast exchange rate to the U.S. dollar at 1,400 naira, stronger than its o...
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The current VAT derivation model attributes VAT to the state of remittance, usually the head office location.
Contrary to some trending misinformation, the proposed model seeks to ensure fairness by attributing VAT to the location of supply and consumption as indicated under S.22(12) of the Nigeria Tax Administration Bill which states that:
“For the purpose of attribution, any return under this section shall provide details of derivation of taxable supplies by location ...”
Watch this short video for more context https://bit.ly/48LIVBN?twclid=2-10jb417vccavy7yqc8pechnn1 or the full v...
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Conversation
Taiwo Oyedele
@taiwoyedele
Tax Reform Bills - 10 Most Frequently Asked Questions
It is not unusual for a major reform such as this to elicit keen interest from all stakeholders. This development is necessary to achieve the best outcomes that benefits all as it provides an opportunity for further engagements which is healthy for the system.
In this regard, we have collated the most frequently asked questions about the tax reform bills to better inform all stakeholders and address some misleading analyses in circulation.
...
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