NIGERIA’S LOW TAX RATE INCONSISTENT WITH LIFESTYLES, SPENDING HABITS OF CITIZENS – FG
Citing inconsistencies in the country’s tax rate and lifestyles of many Nigerians, the Federal Government has reiterated its stance on prosecuting defaulters at the end of the extended deadline for the Voluntary Assets and Income Declaration Scheme (VAIDS) on June 30.

According to The Executive Secretary, Joint Tax Board, Oseni Elamah, the extended ultimatum was in a bid to increase tax compliance of Nigerians.

Elamah during a tax compliance clinic/sensitization for Micro, Small and Medium Enterprises (MSMEs) on understanding the requirements and benefits of tax compliance, in Lagos, said despite the nation having some of the most profitable and well-capitalized companies and individuals, the tax remittance rate is still low.
Read more.........https://newsbreakers.ng/nigerias-low-tax-rate-inconsistent-with-lifestyles-spending-habits-of-citizens-fg/



DANGOTE PAYS 90% OF NET PROFIT AS DIVIDEND, INVESTS N85.6 BILLION
For increasing investors’ value on investment through dividend payout and adherence to corporate governance principles, shareholders of Dangote Cement Plc, yesterday commended the company’s board for its 2017 performance, as they approve a dividend of N10.50 per 50 kobo share for the 2017 financial year.

This dividend represents 90 per cent of net profit and 23.5 per cent rise when compared to N8.50 kobo per share declared in the previous year.

The shareholders, who spoke at the company’s 2017 yearly general meeting held in Lagos Wednesday, also commended the management for the performance and efficient running of the company, amid harsh economic environment.
Read more...........https://newsbreakers.ng/dangote-pays-90-of-net-profit-as-dividend-invests-n85-6-billion/



FARMERS EARNED N73.24BN FROM AGRIC EXPORTS IN THREE MONTHS – NBS
The sum of N73.24bn was earned by farmers in the country between January and March this year through the export of agricultural products.

Figures obtained from the National Bureau of Statistics on Wednesday showed that the agricultural export value of N73.24bn was N28.54bn or 63.84 per cent higher than the N44.7bn recorded in the fourth quarter of 2017.

When compared with the corresponding first quarter 2017 figure of N59.06bn, the N73.24bn was 24.01 per cent higher than the export of agricultural goods recorded during the period.
Read more............https://newsbreakers.ng/farmers-earned-n73-24bn-from-agric-exports-in-three-months-nbs/



EXPERTS DIVIDED ON N9.1TN BUDGET FUNDING CAPACITY
Finance and economic experts have expressed divergent views on the capacity of the Federal Government to effectively implement the 2018 budget signed into law on Wednesday by President Muhammadu Buhari.

The budget, which was passed last month by the National Assembly, was raised by over N508bn, bringing it to N9.12tn as against the original estimates of N8.61tn presented to the legislature on November 7, 2017, by the President.

Speaking on the government’s ability to implement the budget, some finance and economic experts said the Federal Government should be able to generate adequate revenue to fund its programmes as outlined in the fiscal document.
Read more...........https://newsbreakers.ng/experts-divided-on-n9-1tn-budget-funding-capacity/



NIGERIA’S DEBT RISES TO N22.7TN — DMO
The nation’s total public debt increased by 4.52 per cent in the first three months of the year, data from the Debt Management Office (DMO) showed on Wednesday.

PUNCH reports that the public debt increased from N21.73tn ($71bn) in December 2017 to N22.71tn ($74.28bn) at the end of the first quarter of 2018.

The DMO said in a circular on Wednesday that the increase was largely accounted for by the increase in the domestic debts of states, and the Federal Capital Territory, Abuja.
Read more...........https://newsbreakers.ng/nigerias-debt-rises-to-n22-7tn-dmo/