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The Nigeria Labour Congress (NLC), has called for constructive dialogue with the Federal Government regarding the Tax Reform Bill, particularly its implications for the workforce across the nation. During the unveiling of CNG buses for the Southwest chapters of the Union in Ibadan at the weekend, NLC President, Joe Ajaero emphasised the urgency of addressing ...
Amid the ongoing controversy surrounding the proposed tax reform bills by the current administration, the Federal Government and 21 out of the 36 states in the federation have projected a combined Value Added Tax revenue of N2.5 trillion for 2025 in their respective budget estimates. This projection excludes additional funds that may accrue from the ...
By Matthew Denis The United Nations Deputy Secretary-General (DSG), Amina Mohammed and the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun have taken significant step towards strengthening bilateral cooperation and accelerating Nigeria's economic development agenda. Mohammed who visited the Minister in Abuja on Friday said the meeting was part of the ...
The Nigeria Deposit Insurance Corporation in collaboration with the Bureau for Public Procurement is holding a three-day retreat in Kano to enhance its procurement and financial management processes. The retreat, themed “Developing Innovative Strategies for Effective Procurement and Financial Management,” is taking place at the Bristol Palace Hotel and is aimed at ensuring efficiency, transparency, ...
The NESG-Stanbic IBTC Business Confidence Monitor (BCM) report has projected that Nigeria’s inflation rate will decline to 27.1% by December 2025, providing a glimmer of hope for businesses and consumers grappling with persistent economic challenges. This forecast reflects a cautious optimism about the gradual stabilisation of Nigeria’s economy as structural reforms begin to take effect, ...
…As Airtel, others spend over N2bn monthly on diesel …Operators want Govt to make example of vandals, decry increased losses despite Executive Order By Seun Ibiyemi In the face of increase in operational costs and a growing need for enhanced telecom infrastructure, Nigeria’s telecommunications currently faces a risk of underinvestment and stagnated growth. Statistics by ...
The National Agency for Food and Drug Administration and Control (NAFDAC) has revealed that it will be prioritising the development of herbal medical solutions in 2025. This was disclosed yesterday at a press conference in Lagos on Thursday where the NAFDAC Director-General, Prof. Mojisola Adeyeye addressed journalists. The NAFDAC DG raised a red flag over ...
By Seun Ibiyemi The Nigerian government has secured the approval of $254.76 million loan from China Development Bank (CDB) to fund the construction of 203 kilometers Kano-Kaduna railway project. Announcing the approval of the loan in a statement recently, the bank noted that the project, once completed, will provide direct rail connectivity between Kano and ...
By Seun Ibiyemi Guaranty Trust Holding Company Plc (“GTCO Plc” or the “Group”) (NGX: GTCO) is pleased to announce the successful completion of the first tranche of its equity capital raise programme, following the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN) and the approval of the Basis of ...
The Central Bank of Nigeria (CBN) has reported that the country’s non-oil exports have increased by 19.23 percent to US$0.62 billion, from US$0.52 billion in September 2024. According to the CBN’s Economic Report for October 2024, this growth was largely driven by increased receipts from the export of agricultural commodities, reflecting Nigeria’s diversification efforts away ...
By Seun Ibiyemi The Tony Elumelu Foundation, TEF, Africa’s leading champion of entrepreneurship, has announced applications for its 2025 Entrepreneurship Programmes. TEF in a statement urged all aspiring and existing entrepreneurs from across Africa to apply for a chance to receive world-class training, expert mentoring and non-refundable seed capital funding to scale their businesses. “The ...
Airtel Nigeria CEO, Dinesh Balsingh has weighed in on the recent conversations regarding a push for tariff increase by telecom operators in the country. The Airtel Nigeria CEO noted that the proposed tariff adjustments aim to ensure the long-term sustainability of the sector while unlocking significant benefits for Nigerian consumers. In an op-ed authored by ...
United Bank for Africa (UBA) Plc has made the top 5 list of banks in the latest KPMG 2024 West Africa Banking Industry Customer Experience Survey. The survey showed that the bank earned an impressive second place in SME Banking as well as a third place in Retail Banking, marking a significant leap in rankings ...
The Nigerian Civil Aviation Authority has disclosed plans to sanction more airlines for infractions related to consumer protection. This development follows recent enforcement actions taken against several carriers for unresolved complaints and non-compliance with regulatory directives. The Director of Public Affairs and Consumer Protection at the NCAA, Michael Achimugu, confirmed to journalists on Sunday that ...
…Says administration will redouble efforts, key into Tinubu’s Renewed Hope Agenda Lagos State Governor, Mr. Babajide Sanwo-Olu, on Sunday assured Lagos residents of more developmental projects in 2025 in transportation, agriculture, health, energy, environment and other critical sectors. He said his administration will double its efforts in all sectors, keying into the Renewed Hope Agenda ...
The director-general (DG) of the Securities and Exchange Commission (SEC), Emomotimi Agama has said that the regulator’s top priority for 2025 is to revamp regulations on investment fraud, also known as ponzi scheme, to enhance detection and accountability. In his new year message to the capital market over the weekend, Agama said the commission’s plans ...
The Chinese Ambassador to Nigeria and Consul General of the People’s Republic of China, Yan Yuqing, estimated that bilateral commerce between Nigeria and China would be $22.6 billion in 2023. The PUNCH reported that Nigeria has continued to be China’s third-largest trading partner in Africa, according to Yuqing. She made this revelation in Lagos during ...
The Lagos Chamber of Commerce and Industry (LCCI) has called on the federal government to ensure consistent policies and reforms as Nigeria pursues its ambitious goal of becoming a $1 trillion economy. This appeal was made by the Director-General of the LCCI, Dr Chinyere Almona, in response to President Bola Tinubu’s New Year address, ...
The National Pension Commission (PenCom) has tasked insurance and pension operators with the need to invest more in market awareness in the New Year to support the aspiration of the Federal Government to attain the $1 trillion dollar economy target. The commission’s Director-General, Omolola Oloworaran, said this at the 2024 national conference of the Nigerian ...
The Nigeria Postal Service recorded a remarkable 275% increase in revenue in 2024, according to the Postmaster General, Ms. Tola Odeyemi. This significant growth marks a major achievement for the service, which had been grappling with declining revenues in previous years. Speaking about the accomplishment, Odeyemi attributed the surge to the service’s efforts to eliminate ...
The Tax Reform Bills currently under consideration in the National Assembly will address some key Nigeria’s economic challenges, including inflation and illicit financial flows. This was made known by the Chairman of the Presidential Tax Reform and Fiscal Policy Committee, Taiwo Oyedele during a Twitter Space titled “Tax Reform Bills: Clarifying the Sticky Issues with ...
By Barth Ndubuwah, Port Harcourt Nigeria Customs Service (NCS), Area 2 Command, Onne, Rivers State said it has generated a total of N634 billion from January to December,2024, thereby surpassing the annual target of N618 billion set for the Command. This was disclosed by the Customs Area Controller (CAC), Onne, Mohammed Babandede Tuesday while briefing ...
The Office of the Accountant General of the Federation (AOGF) has alleged that the Central Bank of Nigeria (CBN) misappropriated more than N4.4 trillion in interest charged on the Ways and Means advances provided to the government. According to the AOGF, the CBN treated the advances as though they were loans from local and foreign ...
