• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, August 27, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

FEC Okays Reforms To Aid N3.8trn Non-oil Revenue Growth Annually

by Our Correspondent
3 years ago
in Business
FEC
Share on WhatsAppShare on FacebookShare on XTelegram

The Federal Executive Council (FEC) has approved reforms to shore up the non-oil revenue to N3.8 trillion and oil revenue to N160 billion annually.

Advertisement

Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, who briefed State House correspondents after the FEC meeting yesterday at the Presidential Villa, Abuja, made this known.

The meeting was presided over by the vice president Yemi Osinbajo as President Muhammadu Buhari is on a state visit to Portugal.

Akande said that the reforms would boost federal government’s finance especially the non-oil revenue.

“Among several on the memos presented was the one by the minister of Finance, Budget and National Planning on Accelerating Revenue Moblisation Reforms which is a derivative of federal government’s Strategic Revenue Growth Initiative.

RELATED

Flight Cancellation: NCAA Launches Complaints Automation Portal

NCAA Launches First SERVICOM Integrated Service Charter

6 hours ago
Equities Market Extends Rebound With N204bn Gain

Equities Market Extends Rebound With N204bn Gain

6 hours ago
ADVERTISEMENT

“The significant progress that has been made in that initiative includes the raising of the Value Added Tax (VAT) from five per cent to seven per cent and other measures since 2019.

“This particular initiative is something meant to address some of the fiscal challenges of the federal government as it is intended to raise Nigeria’s non-oil revenue potential.

“So, it is estimated that with the implementation of this reform, it would result in a potential additional non-oil revenue and oil revenue generation of N3.8 trillion annually for non-oil revenue and N160 billion for oil revenue,’’ he said.

ADVERTISEMENT

He said that there were also other significant memos presented by the Attorney-General of the Federation which was on the assent of Nigeria to the Budapest Convention on Cyber Crime.

According to him, the convention is a comprehensive national legislation against cyber crime as a framework for technical assistance as well as international cooperation between state parties to it.

“The Minister for Water Resources also presented a memo for the implementation of Federal Government’s component for the execution of rehabilitation, expansion and upgrading of Gombe regional water supply project under the Nigeria National Water Resources.

“And the council approved the sum of N939 million which has been provided for in the 2022 budget as a counterpart fund for this urban water supply improvement in line with the National Water Supply and Sanitation Policy,’’ he said.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: FEC
SendShare10178Tweet6362Share
ADVERTISEMENT
Previous Post

OPEC Likely To Raise Production In August

Next Post

Revisiting Bello’s Millionaire’s Claim In Kogi

Our Correspondent

Our Correspondent

You May Like

Flight Cancellation: NCAA Launches Complaints Automation Portal
Business

NCAA Launches First SERVICOM Integrated Service Charter

2025/08/27
Equities Market Extends Rebound With N204bn Gain
Business

Equities Market Extends Rebound With N204bn Gain

2025/08/27
State Of Emergency In Rivers: Way Forward
Business

Tinubu Bans Raw Shea Export For Six Months, Eyes $300m Revenue Boost

2025/08/27
Nigeria’s Poor Electricity, Weak Infrastructure Hinder Growth But Present Investment Opportunities – Awele Elumelu
Business

Nigeria’s Poor Electricity, Weak Infrastructure Hinder Growth But Present Investment Opportunities – Awele Elumelu

2025/08/27
Renaissance Energy Africa Reaffirms Commitment To Safety Operations
Business

Renaissance Energy Africa Reaffirms Commitment To Safety Operations

2025/08/27
Dangote Cement Records Impressive Topline Growth, Sustains Profitability
Business

Dangote Cement Urges Multi-sector Collaboration To Combat Youth Unemployment

2025/08/27
Leadership Conference advertisement

LATEST

NECO Denounces Fake Recruitment Notice

Crystal Palace Approach Man City For Akanji

Kwara Varsity Lecturers Stage Peaceful Protest, Demand Payment Of EAA, Others

Crystal Palace Agree £26m Deal For Villarreal Winger Pino

Bauchi Records 70% 2025 Budget Performance

Edo At 34: Okpebholo Celebrates Founding Fathers, Sue For Unity

PDP’s 2027 Zoning To South Is Wike’s Hand, Tinubu’s Voice, Says Dele Momodu

JUST-IN: Imo Gov’t Approves N104,000 Minimum Wage For Workers

Oyo Gov’t Partners Chinese Firm To Boost Economy, Create 5,000 Jobs

NECO Lists Hall, System Requirements As CBT Exams Begin November

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.