Tag: import duty

FAAC says of the N931.325 billion statutory revenue, the Federal Government received N422.485 billion while states received N214.290 billion.

The allocation was derived from a gross revenue of N2.310 trillion.

Oil-producing states benefited from a Derivation payment of N132.404 billion, representing 13 per cent of Mineral Revenue.

According to the communique, the N1.358 trillion total distributable fund comprised statutory revenue of N161.593 billion.

"It is a double whammy for economic players to contend with a regime of high import duty, and prohibitive tax ...

“This development is not only bringing untold hardships to importers but is also compounding the pains of the citizens as ...

The government said a charity organisation was caught cheating the system.