FBNQuest

Being rich means different things to different people. When you think about being rich, which of these sticks out to you? #FBNQuest

The most recent report on Nigeria’s foreign trade in goods produced by the National Bureau of Statistics (NBS) shows that the total value of merchandise trade decreased by -4% q/q but increased by 150% y/y to NGN31.9trn (USD20.5bn) in Q2 ’24. A breakdown of the figure shows total export and import trade values of NGN19.4trn and NGN12.5trn, up 202% y/y and 98% y/y respectively, resulting in a net trade surplus of NGN6.9trn #FBNQuestResearch

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We are live!🎊 Estate Planning can go wrong, and you don’t want to be caught off guard. Join us now for an episode that breaks down the best practices for getting it right. Click here to watch the live premiere now: https://bit.ly/4egZwPF #LegacyRoom #FBNQuestTrustees

The National Bureau of Statistics (NBS) most recent quarterly report on value-added-tax (VAT) shows that the federation’s gross collections from VAT increased by +9% q/q and +100% y/y to about NGN1.6trn in Q2 ’24. The robust y/y growth in Q2 represents the most significant y/y expansion in VAT collections for as far back as we can track. Cumulatively, the total VAT figures amounted to roughly NGN3.0trn in H2 ’24, implying an increase of 39% y/y compared with NGN2.1trn received in H2 ’23. #FBNQuestResearch

Planning your estate the right way is crucial, and our hosts and guests are here to guide you through it. All you have to do is tune in. Join us at 12pm for another episode on planning your Estate the right way. Click here to watch: https://bit.ly/4egZwPF #LegacyRoom #FBNQuestTrustees

Estate Planning can go wrong, and you don’t want to be caught off guard. Join us tomorrow for an episode that breaks down the best practices for getting it right. Watch live at 12pm tomorrow! #LegacyRoom #FBNQuestTrustees

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Our chart today, drawn from company income tax (CIT) data from the National Bureau of Statistics (NBS) shows that total CIT receipts into the federation's account amounted to nearly NGN2.5trn in Q2 '24. The amount marks a considerable increase in CIT revenues compared to the NGN984bn and NGN1.5trn collected in Q1 '24 and Q2 '23, respectively. In total, the CIT receipts for H1 '24 indicate a gross collection of nearly NGN3.5trn, reflecting a y/y increase of 71%. This amount represents the federation's total gross CIT receipts, the majority of which is allocated to the federal government. #FBNQuestResearch

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