Taxes cushion oil revenue slump as FIRS grows collections
.....Corporate taxes trump oil earnings for first time on record Although taxes now seem to be the main revenue source of the government, it would need even more attention to become the new oil as the amount generated from the source remains low relative to government spending For the first time in nearly half a century, non-oil revenue usurped petrodollars to become the main source of the Nigerian federal government’s revenue in 2021 and that dominance has grown since then. So dominant has non-oil revenue become compared to oil that in the recently published financial accounts of the federal government,…
