Author: Ogochi Christian
Tax Reform: C’River Sets N10bn Monthly Revenue Target The Cross River State Internal Revenue Service (CRIRS) has disclosed plans to scale up the state’s monthly revenue generation to N10 billion. Mr Edwin Okon, the Chairman, CRIRS, said at a two-day Half-year Review Session in Calabar on Friday that the plan would take effect from January 2026. Okon said that the agency would leverage newly assented federal tax laws to achieve the target. He said that CRIRS had already recorded significant progress, with a 39.7 per cent increase in revenue compared to the same period in 2024. “Between January and June…
FG, AfDB, Others Inaugurate $263.8m infrastructure Project in Abia The African Development Bank, in partnership with the Islamic Development Bank, the federal government (FG) and Abia State, has inaugurated a 263.8 million dollars Integrated Infrastructure Development Project in Abia. The AfDB said this in a statement on Wednesday in Abuja. It said that the initiative was aimed at modernising urban infrastructure, enhancing mobility and promoting inclusive, climate-resilient development in the state. “The project addresses critical infrastructure gaps in urban transport, erosion control and waste management which have long constrained mobility, public health and economic productivity in the cities of Umuahia…
PIA Attracted $16bn Investments, N50.8trn Crude Revenue The House of Representatives says the enactment of the Petroleum Industry Act (PIA 2021) has yielded remarkable results with more than 16 billion dollars investment commitments and significant improvements in oil production. Mr Benjamin Kalu, Deputy Speaker, House of Representatives said this on Monday in Abuja at the 2025 General Counsel and Legal Advisers Forum for Midstream and Downstream Petroleum Companies in Nigeria. The forum, organised by the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has its theme as ‘Advancing a Collaborative Compliance Culture in Nigeria’s Midstream and Downstream Petroleum Sectors’. Kalu said…
Nigeria Seeks 25% Boost in OPEC Quota by 2027 – NNPC Nigeria is set to push for a 25% increase in its oil production quota by 2027, citing growth in refinery capacity and improved production, according to the Nigerian National Petroleum Company Limited (NNPC). The state-owned oil company, led by Group Chief Executive Officer Bashir Ojulari, aims to raise its crude oil production quota from the current 1.5 million barrels per day (bpd) to 2 million bpd, as reported by Argus Media. Ojulari stated that Nigeria’s current production is slightly below the quota at around 1.4 million bpd, with condensate…