Federally collected revenue
from oil companies as petroleum profit tax (PPT), company income tax (CIT) and
value added tax (VAT) accounted for N2.5 trillion of the total money that
entered the Federal Government’s coffers for the first half of this year, investigations have shown.
The amount represents 94.2
percent of the total revenue of N2.5 trillion from other sources, such as stamp
duties, capital gains tax and stamp duties, among others.
Analysts said yesterday that
the development is positive for government, considering increasing complaints
relating to doing business in Nigeria and vandalisation of oil pipelines, but
