Economy
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Nigeria’s real GDP grows by 3.54% in Q2 2022, says NBS
The National Bureau of Statistics (NBS) on Friday said Nigeria’s Gross Domestic Product (GDP) grew by 3.54 per cent year-on-year in real terms in the second quarter (Q2) of 2022, an improvement compared to the 3.11 per cent growth recorded in the previous quarter. On a year-on-year basis, the second quarter of 2022 growth rate decreased by 1.47 percentage points…
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Completion of MMIA Terminal 2 attrracts huge economic dividends – BMO
The Buhari Media Organisation (BMO) has described the completion of the Murtala Muhammed Airport Terminal 2 as a big boost to the federal government’s policy of Ease of Doing Business in the country. The group noted in a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, that the terminal with its state of the art facilities has…
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Naira depreciates against Dollar to N427.01/$ in July
The Naira in the Foreign Exchange (FX) depreciated against the Dollar, with the exchange rate ($/N) increasing by 1.43 per cent or N6.0/ Dollar to close at an average of N427.01/Dollar in July 2022 from N420.98/ Dollar recorded in June 2022. The FMDQ Exchange in its financial market monthly report on Wednesday disclosed that exchange rate volatility increased marginally in…
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FG bans use of foreign models, voice-over artists for adverts
The use of foreign models and voice-over artists for adverts in Nigeria has been banned by the Federal Government. This was contained in a statement signed by the Director General of the Advertising Regulatory Council of Nigeria, Olalekan Fodolapo. According to the statement, the move was to develop local talents in the country. While the ban takes effect from October…
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MMIA Terminal 2 testament to infrastructure development – Lai Muhammed
Minister of Information and Culture, Alhaji Lai Mohammed, has described the Terminal 2 of the Murtala Muhammed International Airport, Lagos, as a testament to the Buhari administration’s unprecedented infrastructure development across the country. The minister stated this in Lagos on Monday, during a media tour of the Terminal. “This edifice – and the others like it – is a testament…
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NLNG Ltd receives road infrastructure tax credit certificate for Bonny-Bodo Road from FIRS
The Nigeria Liquefied Natural Gas Limited (NLNG), one of the companies undertaking the construction of roads under the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme has received its Tax Credit Certificate from the Federal Inland Revenue Service (FIRS), for the construction of the Bonny – Bodo Road, in Rivers State. The certificate was received by the Company’s Deputy…
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Mafab gets 5-month extension to roll out services
The Nigeria Communications Commission (NCC) has extended the 5G Spectrum licence of Mafab Communication by five month. According to a statement by Mafab, the extension was granted following the delays in receiving its unified operational license (USAL) and Numbering plan, which did not happen until the end of July. “We are fully committed to bringing the benefits of 5G services…
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FG records N2.26trn fiscal deficit in four months, says CBN
With a decline in retained revenue and increase in expenditure, the Federal Government recorded a whopping sum of N2.26trillion as fiscal deficit in the first four months of 2022, findings by Westernpost have revealed. This is 17 per cent below the N2.72trillion fiscal deficit reported in the first four months of 2021. The breakdown revealed that fiscal deficit in January…
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NBC suspends shutdown of 52 broadcast stations after IPI Nigeria’s intervention
Following the intervention of the Nigerian chapter of the International Press Institute, the National Broadcasting Commission (NBC) has suspended the revocation of the operating licenses of 52 broadcast stations owing various sums in licensing fees. The NBC has now given the affected stations up to 6pm on Tuesday, August 23, to pay up their debts. Those unable to pay are…
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Thousands will lose jobs if NBC shuts down over 50 broadcast stations – NGE
The Nigerian Guild of Editors (NGE) has expressed concern over the shutting down of over 50 broadcast stations by the National Broadcasting Commission (NBC) for failing to pay their renewal licence fees. In a press statement signed by its President, Mustapha Isah and the General Secretary, Iyobosa Uwugiaren, on Friday, the professional body of all the editors in Nigeria said…
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