Thu. Jan 26th, 2023


For Business and Economy News, Correspondent Chinyere Iheanacho Egbulam has the details.


The Federal Inland Revenue Service FIRS, says it collected over ten trillion naira in tax revenue in 2022, the highest ever recorded by the service.

The Service in the FIRS 2022 Performance Update signed by its Executive Chairman, Muhammad Nami, disclosed that it collected non-oil five-point nine-six trillion naira revenue as against a target of ten point four-four trillion naira.       


The Bank of Industry says it is willing to invest over one billion naira in renewable energy and carbon-free businesses in the Niger Delta region.

Speaking during an interview at the Bank of Industry’s SMEs Conference, South-South edition held in Port Harcourt. The Executive Director of Corporate Services, Usen Effiong, said the bank, through a loan facilitity from French Development Bank would fund businesses in the area of renewable energies.


World Bank’s Nigeria Country Director Shubham Chaudhuri, has stated that the country needs urgent regulatory and policy reforms at the Federal and State levels to unlock additional six point seven percent yearly growth over the next twenty years.

Chaudhuri who disclosed this in Lagos during the Indian Professionals Forum, Nigeria interactive session on: Driving Business in 2023. Business as usual or unusual, with over two hundred million and a young entrepreneurial population, as well as dynamic private sector and Gross Domestic Product of found hundred and forty billion Dollar in 2021, Nigeria has the potential to be a giant on the global stage.

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