Economy

We’ll stimulate economy, make it good for all Nigerians – Tinubu

President Bola Ahmed Tinubu on Friday in Abuja reassured Nigerians that no stone will be left unturned in his administration’s multifarious efforts to stimulate the economy and make it work for the greatest good of all Nigerians. The President stated this in a meeting held at the State House with the Board of Trustees of the All Progressives Congress (APC)…

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Court to hear applications to stop prosecution of Emefiele Aug 15

A Federal High Court sitting in Lagos, on Thursday, adjourned until Aug. 15 for hearing of an application seeking to stop prosecution of the suspended Governor of the Central Bank of Nigeria, Godwin Emefiele. The court will also, on the same day, entertain an application by the Federal  Government seeking to appeal the bail granted Emefiele by the court on…

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International customers owe Nigeria over N12bn for electricity supply in 2023 Q1

The Nigerian Electricity Regulatory Commission (NERC) has reported that three international customers have failed to remit a total of $16.11 million for the electricity supply during the first quarter (Q1) of 2023. With the Central Bank of Nigeria’s (CBN) exchange rate as of August 8, 2023, which stands at $1 to ₦768.767, the accumulated debt of the three international customers…

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Marketers hint hike in cooking gas from next week

Marketers have hinted of an increase in the price of cooking gas across the country from next week. President of the Nigerian Association of Liquefied Petroleum Gas Marketers,  Olatunbosun Oladapo, said this was as a result of rising international prices, high tax rates and prices of vessels, forex scarcity, and naira devaluation as some of the reasons for the intended…

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BOI pledges to partner first lady’s Renewed Hope Initiative on women data, others

The First Lady, Mrs r Oluremi Tinubu, on Tuesday received in audience the Managing Director and Chief Executive Officer of the Bank of Industry, Mr Olukayode Pitan, and the Executive Director Micro Enterprises of the Bank, Mabel Ndagi. According to the Managing Director and Chief Executive Officer, the Bank of Industry has a platform of data base of over 2.5million…

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BREAKING: Tinubu inaugurates Presidential Fiscal Policy, Tax Reform Committee

President Bola Tinubu on Tuesday, inaugurated the Presidential Fiscal Policy and Tax Reform Committee. The committee is headed by then Fiscal Policy Partner and Africa Tax Leader at Price Waterhouse Coopers, Taiwo Odedele, who was appointed by President Tinubu on July 7. “Our aim is to transform the tax system to support sustainable development and achieve a minimum of 18%…

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REPORT: Siemens says Nigeria power infrastructure revamp delayed by five years

…sees project being completed in 2030 due to Covid disruptions …company is rebuilding Nigeria’s power transmission system Siemens Energy AG expects to complete an overhaul of Nigeria’s dilapidated power infrastructure five years later than originally planned, due to delays caused by the coronavirus pandemic. The German engineering company, which was contracted by Africa’s most populous nation four years ago to…

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Hard but necessary reforms imperative to ramp up tax revenues — Nami

For Nigeria to attain optimum tax revenue collection capacity across the federal, states and local government tax authorities, the country must make hard but necessary reforms that would yield long term benefits. This was the position stated by the Chairman of the Joint Tax Board (JTB), Mr. Muhammad Nami, who is also the Executive Chairman of the Federal Inland Revenue…

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