Reps tackle varsity commission for non-remittance of revenues

The varsity commission failed to convince the parliamentary committee that license fees and other revenues it generated were used for the purpose of visitation to private institutions The House of Representatives Committee on Finance has taken a swipe at the National Universities Commission (NUC) for under-reporting and failing to fully remit its Internally Generated Revenue (IGR) despite being fully funded by the federal government. The lawmakers also tackled the Commission over its failure to reflect...

INSIGHT: Oil, revenue and the MTEF benchmarks

Crude oil production is a vital aspect of the MTEF benchmarks upon which the government builds revenue prospects to fund service delivery.   Nigeria’s crude oil production is pivotal to its economy. With extensive reserves, which are concentrated primarily in the Niger Delta region, the country is one of the largest oil producers in Africa and a key player in the global energy market. Daily crude oil production in Nigeria has historically contributed significantly to...