Economy
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OECD, Nigeria meet on maximising benefits of two-pillar tax solution
A delegation from the Organisation for Economic Co-operation and Development (OECD) met with Nigerian representatives on 4th and 5th April 2023, at a workshop it jointly organised with the Federal Inland Revenue Service (FIRS), to discuss the maximisation of the benefits of the Two-Pillar Solution for Nigeria. This is contained in the Workshop’s Outcome Statement released today. The Outcome Statement…
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Ibom Air receives IOSA certification, positions for continental operations
Ibom Air, a limited liability company wholly owned by the Akwa Ibom State government, has been presented with the IATA Operational Safety Audit (IOSA) certification, positioning the airline for regional operations and collaborations. According to a press release by the Group Manager, Marketing and Communication, Ibom Airlines Limited, Aniekan Essienette, the IOSA certification was presented by the International Air Transport…
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Amaechi sacked me at NPA to protect Atiku’s business interest – Hadiza Bala-Usman
Former Managing Director of Nigeria Ports Authority (NPA) Hadiza Bala-Usman has accused former Minster of Transportation, Rotimi Amaechi of sacking her to protect the interest of INTELS Boat Service owned by former Vice President, Atiku Abubakar. Bala-Usman, in her 200-page memoir: “Stepping On Toes: My Odyssey At The Nigerian Ports Authority”, published by Cable Books, said the NPA’s refusal under…
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Nigeria’s economic growth will fall to 3% in 2024, says IMF
The International Monetary Fund (IMF) has predicted that Nigeria’s economic growth will fall from 3.2 per cent in 2023 to 3.0 per cent in 2024. The Bank retained Nigeria’s 3.2 per cent economic growth projection for 2023 in its recent world economic outlook update. In its ‘World Economic Outlook: A Rocky Recovery (2023 Apr),’ report released on Tuesday, the IMF…
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NCC says it’s not responsible to monitor social media content
The Nigerian Communications Commission (NCC) has said it is not the regulator of the contents of the social media networks that many stakeholders have complained about. The submission came during a recent visit of the National Civil Society Council of Nigeria (NCSCN), led by its Executive Director, Blessing Akinsolotu, who sought the intervention of the Commission on the worrisome and…
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Total FX trade at I&E window rise to $1.49bn In March
The Central Bank of Nigeria (CBN)’s non-oil exports repatriation rebate scheme appears to be yielding fruits as investigations reveal that inflows into the Investors and Exporters (I&E) window improved in the month of March. According to data obtained from the FMDQ’s website, total inflows into the I&E window rose by 59.2 percent month-on-month (m/m) to $1.49 billion in March as…
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Buhari sacks NIPC boss Saratu Umar
President Muhammadu Buhari has terminated the appointment of Hajiya Saratu Umar as the Executive Secretary/Chief Executive Officer of the Nigeria Investment Promotion Commission (NIPC), with immediate effect. This was contained in a statement by the Special Adviser to the President on Media and Publicity Femi Adesina.In a directive to the Honourable Minister of Industry, Trade and Investment, Otunba Richard Adeniyi…
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Africa’s growth remains low, says World Bank
Growth across Sub-Saharan Africa remains sluggish, dragged down by uncertainty in the global economy, the underperformance of the continent’s largest economies, high inflation, and a sharp deceleration of investment growth, a World Bank report said on Wednesday. In the face of dampened growth prospects and rising debt levels, African governments must sharpen their focus on macroeconomic stability, domestic revenue mobilization,…
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Buhari inaugurates national council to implement Nigeria Startup Act 2022
President Muhammadu Buhari on Wednesday inaugurated the National Council for Digital Innovation and Entrepreneurship with the mandate to guide the implementation of the Nigeria Startup Act (NSA) 2022. Speaking at the inauguration of the 14-member Council chaired by him, the President directed the Secretariat, the National Information Technology Development Agency (NITDA), to ensure faithful implementation of the Act, which provides…
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NCC accelerates broadband penetration to business owners
The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has reiterated the Commission’s commitment to continually drive initiatives that accelerate broadband deployment to increase penetration and make internet connection readily available to telecom consumers. The EVC stated this at the 10th edition of Business 360 Clinics organised by Abuja Enterprises Agency…
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