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The Nigerian National Petroleum Company (NNPC) Limited has refuted claims that it imported over 200 million litres of Premium Motor Spirit (PMS) in February 2025, describing the allegations as false and misleading. In a statement signed by its spokesperson, Olufemi Soneye, the company dismissed the report as either the result of “lazy and unprofessional journalism”...

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FIRS Set to Launch Pilot Phase of E-Invoicing Solution

The Federal Inland Revenue Service (FIRS) has announced plans to commence the pilot phase of its proposed electronic invoicing (e-invoicing) and electronic valuation (e-valuation) solutions. As part of preparations for the rollout, the tax agency has begun engaging stakeholders on the initiative, which is expected to enhance digital taxation, improve compliance, and ensure transparency by...

Business

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FG Explains Delay in Direct Fund Release to LGAs

The Federal Government has clarified why the Central Bank of Nigeria (CBN) has not commenced the direct release of funds to the country’s 774 local government areas (LGAs), despite a Supreme Court ruling granting them fiscal autonomy. At a national discourse on local government autonomy organized by the Nigerian Bar Association (NBA), Attorney-General of the...