Economy
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FG announces N3m mining lease licence amid enhancing ease of doing business
The Federal Government, through the Ministry of Solid Minerals Development, has announced N3 million new regime of rate for the mining sector to enhance ease of doing business and consolidate ongoing reforms. At a press conference on Thursday, the Minister of Solid Minerals Development, Dr. Dele Alake stated that the review underscores the federal government’s commitment to increasing revenue from…
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FG highlights key reforms, investment opportunities to Canadian delegation
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun and the Honourable Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu on Thursday have showcased key reforms and investment opportunities to Canadian delegation. The two Ministers met with a high-level delegation of Canadian investors in Abuja. The Director, Information and Public Relations, Federal Ministry…
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FG raises N4.13trn to finance 2024 budget
Data from Debt Management Office (DMO) has revealed that Federal Government raised an estimated N4.13 trillion through the FGN Bond market to finance budget deficit in the first half (H1) of 2024. An investigation by WESTERN POST showed that while DMO offered to raise N4.66 trillion in the period under review, total subscription nearly reached the N5tillion mark to N4.89…
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IBEDC hikes electricity tariff for Band A to N209.50/kWh
Ibadan Electricity Distribution Company Plc ( IBEDC) has reviewed upward the electricity tariff for Band A customers with immediate effect. The new tariff will be adjusted from N206.80/kWh to N209.50/kWh, according to IBEDC. The company in a notice on Wednesday, disclosed that the review has been duly approved by the Nigerian Electricity Regulatory Commission (NERC) as captured in the multi-year…
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Lagos, Ogun lead other states with active voice subscribers in Q1 2024, says NBS
The National Bureau of Statistics (NBS) on Wednesday disclosed that Lagos and Ogun States led other States in 219,304,281 total active voice subscribers in first quarter (Q1) 2024. NBS in its report “Telecoms Data: Active Voice and Internet, Porting and Tariff Information (Q1 2024)” revealed that total number of active voice subscribers in Q1 2024 was 219,304,281 from the 226,161,713…
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PHOTO NEWS: Wale Edun highlights FG’s commitment to addressing macroeconomic challenges
The Honourable Minister of Finance & Coordinating Minister of the Economy Mr. Wale Edun on Tuesday attended the Manufacturers Association of Nigeria (MAN) Summit themed “Rethinking Manufacturing” at the Banquet Hall of the Presidential Villa, Abuja. The Federal Ministry of Finance on X stated that over three days the high-level dialogue will seek to address the constraints limiting the manufacturing…
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FG exempts small businesses, others from new withholding tax regime
The Federal Government has approved a new withholding tax regime for the country and introduced key changes to the previous tax regime such as reduction of rates for businesses with low margins and measures to curb evasion. Chairman of the Presidential committee on fiscal policy and tax reforms, Taiwo Oyedele disclosed this on his official X handle where he stated…
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FG, MAN to discuss binding constraints in manufacturing sector, others
The Federal Government, in collaboration with the Manufacturers Association of Nigeria (MAN), set to tackle constraints limiting the performance of the manufacturing sector among others in the country. Senior Special Assistant to The President on Media & Communications, (Office of The Vice President), Stanley Nkwocha in a statement on Monday noted that FG and MAN are organising a three-day national…
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Kwara, Ondo, Osun, Oyo, Ogun fail to attract capital importation in Q1 2024, says NBS
The National Bureau of Statistics (NBS) has revealed that five states from the Western part of the country, Kwara, Ondo, Osun, Oyo, and Ogun failed to attract capital importation in first quarter (Q1) of 2024. The ‘Nigeria Capital Importation’ report by NBS revealed that only Ekiti, and Lagos State reported capital importation in the period under review. The bureau disclosed…
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PEBEC: Ministry of Marine & Blue Economy emerges overall best performing ministry
The Ministry of Marine and Blue Economy, under the dynamic leadership of the Honourable Minister, Gboyega Oyetola, has achieved an exceptional milestone by emerging as the overall best performing ministry in the Ease of Doing Business ranking. This was revealed on Friday, at the town hall meeting, by the Special Adviser to the President on Presidential Enabling Business Environment Council…
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