Business
FIRS Generated N4.69tr Revenue In 2014
The Federal Inland Revenue
Service (FIRS) said that it generated N4.69 trillion from taxes for the federal government in 2014.
FIRS said in its Quarterly Revenue Report issued in Abuja that the figure surpassed its target for the year by about N400 billion.
The report showed that the 2014 revenue was about N106 billion less than that of 2013, which stood at N4.80 trillion.
According to it, the revenue was derived from petroleum profits and non-oil taxes, including income tax, gas income, capital gains tax, stamp duty and value Added Tax VAT.
The report also indicated that N2.45 trillion, representing 52-96 per cent was collected from petroleum profits tax while N2.24trillion, representing 47.04 per cent, was collected from non oil taxes during the period.
A breakdown of the total collection showed that company income tax contributed N1.18 trillion, N10.83 billion from gas income, N2.59 billion from capital gains tax and N10.94 billion from stamp duty.
The VAT, comprising Nigeria Customs Service Import VAT and Non-Import VAT, according to the period, contributed N802.95 billion of the total non-oil taxes collection during the period.
The report also said that other non-oil taxes collected were Education Tax N189.61 billion, N53.28 billion from consolidated Account and N9.91 billion from National Information Technology Development (NITDEF) levy.
The report further showed that N1.05 trillion was collected in the first quarter while N1.45 trillion was collected in the second quarter.
It also indicated that N1.19trillion was collected in the third quarter and N1 trillion was collected in the fourth quarter.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Sports4 days ago
CAFCL : Rivers United Arrives DR Congo
-
Sports4 days ago
FIFA rankings: S’Eagles drop Position, remain sixth in Africa
-
Sports4 days ago
NPFL club name Iorfa new GM
-
Sports4 days ago
NNL abolishes playoffs for NPFL promotion
-
Sports4 days ago
NSF: Early preparations begin for 2026 National Sports Festival
-
Sports4 days ago
Kwara Hopeful To Host Confed Cup in Ilorin
-
Sports4 days ago
RSG Award Renovation Work At Yakubu Gowon Stadium
-
Politics4 days ago
Rivers Assembly Resumes Sitting After Six-Month Suspension