Connect with us

General News

FIRS Rakes in N6.4 Trillion in 2021-  Nami

Published

on

Kindly share this post

Federal government tax receipts in 2021 rose by 29.4 per cent  to 6.41 trillion naira, according to Muhammad Nami, executive chairman, Federal Inland Revenue Service (FIRS).

FIRS Rakes in N6.4 Trillion in 2021-  Nami

Nami said that his agency achieved the result despite issues brought up by the pandemic.

Federal government has repeatedly said it wants to boost non-oil revenues since oil sales make up 90% of foreign exchange receipts.

But raising more money from taxes has proved difficult in a country where so many small business are not registered.

It plans to prioritise tax collection from its digital economy in 2022 and focus on non-resident firms with significant economic presence that generate turnover in the country.

Nami said the final number had come in slightly higher than the initial forecast of 6.40 trillion naira, thanks to digitization which facilitated collections in 2021.

Value-added taxes contributed the most followed by corporate taxes, he said.

“The deployment of the new automated tax administration system in June 2021 was a game-changer,” Nami said in a report.

Tax receipts dropped to 4.95 trillion naira in 2020 after a COVID-19 induced lockdown impacted businesses and a recession that year hurt economy. The FIRS collected 5.27 trillion naira in 2019, it said.

The World Bank said last year that Nigeria needed to boost non-oil taxes to at least 12.75% of gross domestic product to boost growth. It said tax collection sits at around 4.5% of GDP, one of the lowest rates in the world.

The FIRS said non-oil sector contributed 69% to total taxes in 2021, as much as in 2020 and up from 60% in 2019.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

General News

Fearless Freedom Launches to Tackle Inequality and Champion Global Economic Inclusion

Published

on

Kindly share this post

Fearless Freedom, a bold new global advocacy initiative focused on ending economic inequality and expanding economic opportunity, officially launches today, 2nd August, 2025.

Backed by the founder of Fearless Fund,  the first venture capital fund in the U.S. built by women of color for women of color,  this new chapter builds on a legacy of breaking barriers and driving inclusive progress.

The launch of Fearless Freedom comes nearly one year after the dismissal of a federal lawsuit that challenged the organization’s efforts to empower underrepresented communities. The case, which drew national attention, was filed on August 2, 2023, and dismissed permanently on September 11, 2024.

Fearless Freedom is not just an advocacy; it is a global movement for visibility, justice, and financial equity. Through storytelling, policy conversations, and creative programming, Fearless Freedom is reclaiming space, spotlighting the real challenges, and championing the people building powerful solutions.

“Fearless Freedom is our global declaration, a refusal to be silenced, erased, or sidelined,“ said HM Queen Wa Arian Simone, CEO of Fearless Fund. “We’re not just funding change anymore, we’re amplifying the voices that have always driven it. This initiative is about power, presence, and rewriting the rules of who gets seen, supported, and heard.”

“August 2nd was once about legal resistance. From now on, it marks something else: a day of fearless expression and global visibility,” she added.

As a global advocacy initiative, Fearless Freedom will spark meaningful dialogue around economic inclusion, inviting communities to reflect, learn, and speak out against financial inequality, all through creative expression and powerful storytelling.


Kindly share this post
Continue Reading

General News

Nigeria Sends Egusi, Others to Space @ NASA’s Crew-11 Mission Launch

Published

on

Kindly share this post

National Space Research and Development Agency (NASRDA) said that Nigeria participated National Aeronautics and Space Administration (NASA’s) Crew-11 Mission, which launched yesterday from the Kennedy Space Center in Cape Canaveral, Florida, the United States.

Nigeria Sends Egusi, Others to Space @ NASA’s Crew-11 Mission Launch

According to NASRDA, the NASA’s Crew-11 Mission had on board six indigenous Nigerian crop seeds: melon (otherwise Egusi), okra, cowpea, guinea corn (sorghum), amaranth and maize.

NASRDA said that the seeds were chosen for their nutritional and agricultural significance.

NASA  is an independent agency of the US federal government responsible for the United States’s civil space program, aeronautics research and space research.

The agency said, “The mission, which features the World Seeds Payload, is a pioneering international agricultural experiment led by Jaguar Space, with contributions from 11 countries, including Nigeria.

“The seeds will be studied aboard the International Space Station, ISS, under microgravity conditions to explore their behaviour, resilience, and potential in future space-based farming, critical research aimed at addressing climate resilience, global food security, and agricultural innovation beyond Earth.

“Representing Nigeria at the launch is Olayinka Fagbemiro, assistant director, nternational Cooperation, NASRDA, and Linkages and project lead on the initiative.

“She oversaw every stage of Nigeria’s participation, from seed selection to logistics and formal international engagement.

“This is our first biological payload aboard a crewed NASA mission to the ISS.

“It not only validates years of local research on plant life in simulated space environments but also underscores NASRDA’s growing role in global scientific collaboration. This mission exemplifies inclusive, culturally grounded space research, and highlights the leadership role that emerging space nations such as Nigeria can play in shaping humanity’s future beyond Earth.”

yond Earth.”


Kindly share this post
Continue Reading

General News

AfDB Approves $46m to Transform Healthcare in Sokoto State

Published

on

Kindly share this post

The Board of Directors of the African Development Bank Group (AfDB) has approved a $46 million loan to finance the Sokoto State Health Infrastructure Project, a transformative initiative designed to enhance healthcare access and quality in Nigeria’s Sokoto State.

The project addresses critical health system gaps in Sokoto, where key indicators reflect a critical need for intervention. Only one in 20 children is fully vaccinated, while infant mortality stands at 104 deaths per 1,000 live births, nearly double Nigeria’s national average of 63.

Less than 14 percent of health facilities in the state have functional infrastructure, and there is just one doctor for every 8,285 people — far below the World Health Organization’s recommended ratio of 1:1,000.

The Bank’s financing will support the delivery of climate-smart health infrastructure across three levels of care. These include the construction and equipping of a 1,000-bed teaching hospital complex; three zonal hospitals with a combined capacity of 450 beds; and six primary healthcare canters strategically located to serve rural communities.

The project also includes the rehabilitation of health training institutions and the development of a modern medical warehouse to strengthen pharmaceutical supply chains.

“This investment illustrates our commitment to continue working with the Government to fill critical infrastructure gaps in Nigeria’s health system while building resilient, climate-adapted healthcare facilities,” said Abdul Kamara, director general of the African Development Bank’s Nigeria Office. “By strengthening healthcare infrastructure in Sokoto State, we are building hope and creating pathways to better health outcomes for millions of Nigerians.”

Aligned with Nigeria’s National Development Plan (2021-2025) and the Health Sector Renewal Investment Initiative, the project is expected to generate approximately 2,500 jobs, with 60 percent of opportunities targeting youth and 30 percent women.

In addition, the project will integrate electronic health infrastructure and renewable energy systems, ensuring sustainable, energy-efficient operations while reducing greenhouse gas emissions. Expanded capacity in local the medical and nursing schools will create 700 new training slots annually, helping to address the region’s acute shortage of skilled health professionals.

The initiative builds on the Bank’s successful track record in Nigeria’s health sector, where it has financed four health infrastructure projects totaling $117.68 million. It will leverage strategic partnerships with the United Nations Children’s Fund, the World Health Organization, USAID, and other development actors to maximize impact and ensure comprehensive health system strengthening.

The African Development Bank Group remains committed to enhancing the quality of life for Africa’s people through targeted investments in resilient health infrastructure that drive inclusive growth and sustainable development across the continent.


Kindly share this post
Continue Reading

Trending