The Minister of Marine and Blue Economy, Adegboyega Oyetola, has said that agencies in the Marine and Blue Economy increased revenue generated to the coffers of the federal government by 77%. He disclosed this in an interactive session with the Nigerian Guild of Editors (NGE) in Lagos. According to him, the Presidential Enabling Business Environment Council (PEBEC) during the 120 …

Nigerian Breweries Plc has released its audited Group Financial Statements for the 2024 financial year, reporting an unprecedented revenue of N1.1 trillion. This marks a significant 81% increase from the N599.6 billion recorded in 2023. A breakdown of the audited results showed a remarkable 51% growth in group gross profit, rising from N212.6 billion in 2023 to N320 billion in …

The Nigerian Communications Commission (NCC) has disclosed that the failure of telecommunications companies to purchase 5G spectrum licences was largely responsible for its low revenue generation in 2024. The NCC’s Director of Financial Services, Yakubu Gontor, and its Chief Executive Officer/Executive Vice Chairman, Aminu Maida, revealed this during the 2025 budget defence before the National Assembly Joint Committee on Communications …

Real Madrid are the first football club to top a billion euros in revenue during a single season, fuelled by income generated by the revamped Santiago Bernabeu stadium, according to financial experts Deloitte. The order of the clubs at the top of Deloitte’s annual Football Money League stayed the same, with Madrid (1.05 billion euros, $1.09 billion) followed by Premier …

The Kano State Government will commence the prosecution of all tax defaulters in 2025 as part of its major reforms in tax administration. This was contained in a statement on Saturday by the Governor’s spokesperson, Sanusi Dawakin-Tofa. According to the statement, the Executive Chairman of Kano State Internal Revenue Service, Dr Zaid Abubakar, made the disclosure during a presentation to …

The 2025 Appropriation Bill targets N34.8 trillion revenue, it was learnt yesterday. The Bill also projects a comprehensive debt restructuring strategy aimed at freeing up funds for critical infrastructure development. This approach is one of the key components of the 2025-2027 Medium-Term Fiscal Framework and Fiscal Strategy Paper (MTEF/FSP), which the Federal Executive Council (FEC) approved on Thursday. The MTEF/FSP …

The All Progressives Congress (APC) in Ogun State has commended Governor Dapo Abiodun on the latest rating of the state as third on the State of States Performance on “Index A” by a leading socioeconomic and civic organisation, BudgIT. Only Rivers State, which tops the list with 0.82, and Lagos (0.84) ranked higher than Ogun (1.48) among the 36 states …

Guinness Nigeria Plc financial results for the twelve months ended 30th June 2024 has shown robust performance amidst a challenging macroeconomic environment. According to data obtained from its results, the company recorded a remarkable +31% year-on-year revenue growth, a strong performance even more pronounced in the second half of the year, with revenue growth accelerating to 41%, up from 20% …

The Managing Director of Nigerian Airspace Management Agency (NAMA), Farouk Ahmed Umar, has appealed to the Federal Government to allow the agency more access to Internally Generated Revenue (IGR) so as to enhance its operations. Umar, who spoke at the agency’s headquarters in Abuja, said NAMA, as the heart of the aviation industry is tasked with the critical responsibility of …

The Nigerian Railway Corporation (NRC) generated N1.07 billion as revenue from passengers in Q4 of 2023, the National Bureau of Statistics (NBS) has said. According to the News Agency of Nigeria (NAN), this is contained in the NBS Rail Transportation Data for Q4 2023 released in Abuja on Monday. The report showed that the figure decreased by 7.51 per cent …