Economy

Nigerians’ll reap economic gains of Tinubu’s reforms in Q1 2024 – Rewane

The Chief Executive Officer, Financial Derivatives Company Limited, Bismarck Rewane has said that the gains of the present reforms in the economy by President Bola Tinubu will manifest in the first quarter of 2024. Rewane said this on Saturday, while speaking on Arise News TV programme, even as he said that there will be more pains this year as a…

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Lagos residents demand palliatives to ease high cost of living

Some residents of Lagos State have called on the Federal Government to urgently implement adequate palliative measures to alleviate the present high cost of living being experienced by Nigerians. Recently, the fuel pump price rose from an average of N500 per litre to N617 per litre at petrol stations, owned by Nigeria National Petroleum Company, Ltd. In an interview with…

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NEC backs planned grain, fertiliser distribution over subsidy removal

The National Economic Council (NEC) has thrown its weight behind the planned distribution of grains and fertilizer to Nigerians by the Federal Government through the Central Bank of Nigeria (CBN) to mitigate the impact of the removal of petrol subsidy on citizens. The decision was part of the resolutions reached at the 4th meeting of the Council chaired by Vice…

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We will transform Nigeria into Africa’s culture, creative capital – Hannatu Musawa

Special Adviser to the President on Culture and Entertainment Economy, Hannatu Musa Musawa, has said the administration of President Bola Tinubu will transform the country into Africa’s culture and creative capital. Musawa made this known while addressing a press briefing on Thursday. According to her, President Tinubu’s plan is to double the national economy to $1tn within eight years. She…

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FIRS rakes-in record N5.5tn in 6 months

The Federal Inland Revenue Service (FIRS) has announced tax revenue collection of N5.5 trillion for the half-year period of January to June 2023. This is the highest tax revenue collection ever recorded by the Service in any first six months of a fiscal year. Mr. Muhammad Nami, Executive Chairman of the FIRS stated this while presenting the 2023-2024 tax revenue…

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Presidential tax reforms committee chair Oyedele resigns from PwC

Newly appointed Chairman of the Presidential Fiscal Policy & Tax Reform Committee, Taiwo Oyedele has announced his resignation from PriceWaterhouseCoopers. Oyedele announced his resignation on his Twitter page on Wednesday. He said the resignation was to enable him “focus fully with undivided attention on my new role”. President Bola Tinubu had earlier this month, appointed Oyedele as the chairman of…

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FCCPC set to clamp down on POS transaction charge hike

Executive Vice Chairman of the Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Irukera said the commission is set to issue an order against the planned hike in transaction charges by Point of Sale agents. Speaking with The PUNCH on Wednesday, Irukera said the commission will clamp down on any POS agent who goes against the order. According to him,…

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Customs acting DG initiates reforms to boost trade, combat smuggling

The Acting Comptroller-General of Customs, Bashir Adewale Adeniyi has approved the dissolution of CGC’s Strike Force Teams. This was contained in a statement by the National Public Relations Officer of Customs, Abdullahi Maiwada Maiwada said the dissolution which is with immediate effect is to promote best practices and enhance trade facilitation. He also added that the acting CG directed the…

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