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...As FIRS Boss canvasses exclusion of vulnerable people in taxation The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has clarified that the tax reform bills proposed by President Bola Tinubu aim to alleviate the tax burden on 90% of Nigerian workers while restructuring the sharing formula for Value Added ...
News
The Lagos State government has reaffirmed its commitment to promoting road safety through the re-launch of the School Safety Traffic Advocacy Program. The initiative, spearheaded by the Ministry of Transportation, aims to address critical traffic safety challenges in the state by educating students, teachers, and parents on responsible road use. Speaking at the event held ...
Business
The Honourable Minister of Marine and Blue Economy, His Excellency, Adegboyega Oyetola, CON says that a National Policy on Marine and Blue Economy is essential for the development of the Nigerian maritime sector. He stated this while declaring open a stakeholders’ validation session aimed at developing the National Policy on Marine and Blue Economy in ...
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Top Story
...Says inflation, FX pressures to abate early 2025 The Central Bank of Nigeria (CBN) has once again raised its interest rate, increasing it by 25 basis points from 27.25 percent to 27.50 percent, in a bid to address the rising inflation in the country. This decision was announced by the Governor of the CBN, Mr. ...
Economy
…As stakeholders validate National Blue Economy Policy The Honourable Minister of Marine and Blue Economy, H.E. Adegboyega Oyetola, has reaffirmed Nigeria's commitment to harnessing the transformative potential of its marine resources during a keynote address at the Technical Validation Workshop for the development of the National Policy on Marine and Blue Economy. In his address, ...
Top Story
...As Tinubu assures of greater economic output ....Oil GDP records slowest growth in 2024 ....Unemployment rate slows to 4.3% in Q2 2024 ...Nigeria faces increased economic risks amid rising inflation, poverty — Report Nigeria’s gross domestic product (GDP) grew by 3.46 percent in real terms in the third quarter (Q3) of 2024,representing 0.92 percentage points ...
Money market
The Central Bank of Nigeria (CBN) has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators from December 3, 2024, to June 3, 2025. Aminu Gwadabe, president of the Association of Bureaux De Change of Nigeria (ABCON), disclosed the extension during an emergency virtual general meeting held by ABCON for its members. ...
News
…Oyetola describes feat as testament to acceptance of FG reforms The Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, yesterday emerged the first Nigerian to be elected Chairman of the Port Management Association of West and Central Africa (PMAWCA). The recognition came during the closing ceremony of the 44th annual council and ...
Maritime
The House Committee on National Inland Waterways has lauded the Managing Director of the National Inland Waterways Authority (NIWA), Mr. Bola Oyebamiji, for his remarkable achievements and dedication within a short period of his tenure. During their oversight visit to NIWA’s operational headquarters in Lokoja, the committee acknowledged the strides made in enhancing inland waterways ...
Maritime
...We must continue to strengthen legal instruments to grow maritime — Oyetola The Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola CON, yesterday deposited three Instruments of Accession to IMO Conventions that were signed by President Bola Tinubu, GCFR. This event took place at the headquarters of the International Maritime Organization (IMO), which acts ...
News
In Nigeria’s quest to regain its place in “Category C” of the International Maritime Organization (IMO) receives a boost as Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola has met with Minister of Transport (MoT) for Liberia, Hon. Sirleaf Ralph Tyler, to solicit the support of other maritime nations at the ongoing 133rd Session ...
Maritime
The Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho has advocated for among other measures, the sustained pursuit and completion of international highway, rail routes cutting across Hinterland and Coastal, such as the Niger, Lagos, Tema and Abidjan to ensure service provision to the landlocked states efficiently and at reduced cost. He ...
Maritime
The Nigerian Maritime Administration and Safety Agency (NIMASA) has clarified that the funds under the Cabotage Vessel Financing Fund (CVFF) are intact and securely held with the Central Bank of Nigeria (CBN) under the Single Treasury Account (TSA). This clarification was made in a statement made available to Nigerian NewsDirect by NIMASA’s Head of Public ...
Business
…As Economists recommend review of 2025 budget deficit, oil price benchmark President Bola Tinubu, on Tuesday has sought the approval of the Senate and the House of Representatives for a fresh $2.2 billion loan. The president also forwarded the Medium-term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) to the legislators for consideration and ...
Energy
The Nigerian Electricity Regulatory Commission has announced that it is the responsibility of the DisCo to replace faulty customers’ meters free of charge. The commission stated this in a public notice issued on Monday, stating that it is aware that some Distribution Companies (DisCos) have instructed customers to apply and pay for the replacement of ...
News
The Lagos State Government has announced a traffic diversion on the outbound lane of the Marine Bridge, Apapa, starting Monday, November 18, 2024, to Tuesday, February 25, 2025. This measure is necessary to facilitate the repair of the asphalt section of the bridge. Motorists are advised to take alternative routes during the repair period to ...
News
In a landmark move towards safeguarding Nigeria’s public health and national security, the Nigeria Customs Service (NCS) and the National Agency for Food and Drug Administration and Control (NAFDAC) have formalised a strategic partnership with the signing of a Memorandum of Understanding (MoU) on Thursday, 14th November 2024. The event took place on the second ...
Business
...As CBN opposes SEC’s ‘absolute powers’ to regulate public companies The Federal Executive Council (FEC), on Thursday, approved a proposed budget of N47.9 trillion. Minister of Budget and Economic Planning, Atiku Bagudu disclosed this while briefing State House journalists after the FEC meeting presided over by President Bola Tinubu on Thursday. This was part of ...
Business
...Nigeria’s Foreign Direct Investments exceed $30bn — Tinubu President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to supporting the Nigeria Customs Service (NCS) in its ongoing modernisation and reform efforts to enhance the nation’s economic growth. The President made this declaration on Wednesday while officially opening the 2024 Comptroller-General of Customs (CGC) Conference in ...
Business
...As CBN unveils initiatives to boost inclusion among SMEs Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso has identified increased financial inclusion as a factor that can foster the government’s target of a $1 trillion economy by 2030. Speaking at the second edition of the International Financial Inclusion Conference, which was held ...
