Author: Sir Bartholomew White Ebe

US Energy Secretary, Chris Wright has said Washington will control the sale of Venezuelan oil “indefinitely,” following President Donald Trump’s announcement that Venezuela’s interim leadership had agreed to US-managed marketing of between 30 and 50 million barrels of crude. Entertainment center Speaking on Wednesday, January 7 at a Goldman Sachs energy event in Miami, Wright said the United States would oversee the sale of Venezuela’s crude oil, starting with stored supplies and continuing into the future. “We’re going to market the crude coming out of Venezuela, first this backed-up stored oil, and then indefinitely, going forward, we will sell the production that comes out of Venezuela into the marketplace,” he said. His comments came days after the US-led removal of Ven...

Nigeria’s 36 states are projected to receive about N5.07 trillion in Value Added Tax (VAT) revenue in 2026 following the implementation of a new VAT sharing formula under the National Tax Acts. Findings from the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper approved by the Federal Executive Council show that, from January 2026, the Federal Government’s VAT share will drop from 15% to 10%, while states’ allocation will rise from 50% to 55%. Local governments will retain their 35% share. Under the new structure, the Federal Government is expected to earn N922.5 billion in VAT revenue in 2026, down from N1.04 trillion in 2025, despite an increase in the overall VAT pool to N9.23 trillion. States, meanwhile, will see their collective share jump from N3.47 trillion...