Economy
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Foreign airlines exploiting Nigerian travellers, charge N3m for tickets – NANTA
The National Association of Nigeria Travel Agencies (NANTA) has expressed strong reservations on what it termed ‘high fare pandemic’ by foreign airlines, accusing them of exploiting Nigerian travellers. NANTA said it was disheartening that Nigerians had to buy tickets to the tune of N3 million and be charged as high as N1 million to change travel dates, even on tickets…
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NCC boss Danbatta hails conferment of NIPR fellowship on Mouka, Ibietan
Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof Umar Garba Danbatta, has hailed the conferment of the Fellowship of the Nigerian Institute of Public Relations (FNIPR) on two management staff as meritorious and a testimony to its promotion of professionalism and excellence in its scheme of management. The NCC EVC’s assertion followed the recent investiture and induction of…
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Total foreign trade drops to N12.84trn in Q2
The National Bureau of Statistics (NBS) on Thursday disclosed that total foreign trade in the second quarter of 2022 dropped to N12.84 trillion as against N13.00 trillion recorded in the first quarter of 2022. The “foreign trade in goods” statistics by NBS disclosed that the figure is higher than the value recorded in the corresponding period of 2021 which stood…
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FG to sanction airlines selling tickets in dollars
The Minister of Aviation, Sen. Hadi Sirika, has frowned at foreign airlines selling tickets in dollars, warning that government would not take it kindly with those caught engaging in such violation of Nigerian laws. Sirika gave the warning while fielding questions from State House correspondents at the end of the virtual meeting of the Federal Executive Council (FEC) on Wednesday…
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NIPOST debunks reported sacking of Postmaster General
The Nigeria Postal Service (NIPOST) has debunked reports that the Postmaster General (PMG) of the Federation, Dr. Ismail Adebayo Adewusi, has been sacked by President Muhammadu Buhari. NIPOST Director of Corporate Communications, Franklyn Alao in a statement made available to WesternPost, described the reports as “reckless, mischievous and meant to mislead the public.” According to the statement, the postmaster general…
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NASS commends SEC for attaining fiscal sustainability
The management of the Securities and Exchange Commission (SEC) has been commended on decisive steps taken in ensuring that it attains fiscal sustainability. Chairman of the House of Representatives Committee on Finance, Hon. James Abiodun Faleke, who stated this at the 2023-2025 Medium Term Expenditure Framework/Fiscal Strategy Paper, MTEF/FSP interactive session with the Committee in Abuja yesterday, expressed his pleasure…
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FG suspends 5% excise duty on telecoms services
The Federal Government yesterday has announced the suspension of the proposed 5 per cent Excise Duty on telecommunications services. The FG also inaugurated a committee chaired by the Minister of Communications and Digital Economy, Isa Ali Ibrahim Pantami, to review the policy, immediately. Pantami, who inaugurated the Committee, which he chairs on the directive of President Muhammadu Buhari, with the…
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Equities market drops by N30bn to commence week on negative note
Opening the week, equities market of the Nigerian Exchange Limited (NGX) on Monday reversed the three-day winning streak as the market capitalisation closed N30 billion weaker. The NGX All Share Index (ASI) decreased by 54.42 basis points or 0.11 per cent to close at 49,991.41 basis points. Similarly, the market capitalisation lost N30 billion to close at N26.964 trillion. The downturn…
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FIRS generates N660.15bn from VAT in Q2
The National Bureau of Statistics (NBS) on Monday disclosed that the Federal Inland Revenue Service (FIRS) generated an aggregate N600.15 billion from Value Added Tax (VAT) for second (Q2) 2022, showing a growth rate of 1.96per cent on a quarter-on-quarter basis from N588.59 billion in first quarter (Q1) 2022. The NBS report noted that local payments recorded were N359.12 billion, while…
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We’re ready for forensic audit of petrol supply – NNPC replies Customs
The Nigerian National Petroleum Company Limited (NNPC) Ltd has offered to submit itself for forensic audit of fuel supply and subsidy management, insisting that daily fuel supply is 68 million litres. The challenge followed claims made by the Comptroller-General of the Nigeria Customs Service (NCS), Col. Hameed Ali (retd) about the fuel consumption figures in the country, Ali had queried…
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