News as it breaks
The World Bank has predicted that Nigerian Gross Domestic Product will grow by 3.7 per cent in 2025. The World Bank in its latest report titled “Global Economic Prospect: Subdued Growth, Multiple Challenges”, projected that the African largest economy will improve by 3.3 per cent up from a projected 2.9…
Anambra State Governor, Charles Soludo, has stated that the administration of President Bola Tinubu took over a “dead economy” bequeathed by its predecessors. The former governor of the Central Bank of Nigeria stated this on Channels TV’s Politics Today on Thursday, Nov. 23, while analysing the naira’s decline under the…
The PBOC also said it was offering 237 billion yuan ($33 billion) of funds to banks through the medium-term lending facility, “to maintain reasonable and sufficient liquidity in the banking system”
The government needs taxes as sustainable sources of funding social programmes like health, education, infrastructure and other services which are important to achieve the common goal of a prosperous, functional and orderly society and most importantly to foster the country’s economic growth and development.
With this policy direction and initiative, the Federal Inland Revenue Service took the challenge to bridge the yawning revenue gap. In doing this they expanded the tax net to include several profit-making companies and organisations which had prior to the emergence of the Buhari administration played artful dodgers in tax payments and remittances.
