Business
I’LL END NIGERIA’S OVER-RELIANCE ON BORROWINGS – PRESIDENT TINUBU VOWS
Speaking at the inauguration of the presidential committee on fiscal policy and tax reforms on Tuesday, August 8, the president said: “The consequences of the ongoing failure of our tax regime are real and significant. The inability of the government to efficiently raise revenue has led directly to an over-reliance on borrowing to finance public …
NLC, TUC LEADERS MEET PRESIDENT TINUBU, SAYS PRESIDENT MADE COMMITMENTS
The President of the Nigeria Labour Congress (NLC) Joe Ajaero, and his counterpart of the Trade Union Congress of Nigeria (TUC), Festus Osifo, amid nationwide protests, met with President Bola Tinubu at the Presidential Villa on Wednesday, August 2, 2023. The labour leaders, who exited the Villa about 30 minutes after they arrived at 5:38 …
NAIRA TENDS TO COMEBACK: N700 PER $1, EXPERTS PREDICTS.
The research firm pointed to unusually low volatility in the stock market, with the S&P 500’s current realized volatility gauge measuring at 0.8% over the last 100 days. That puts the benchmark index “solidly in bull market territory,” as the bull/bear market line has held around 1.1% since April, according to DataTrek cofounder Nicholas Colas. …
FEDERAL GOVERNMENT MAY RAISE MINIMUM WAGE TO N200 THOUSAND
There are strong indications that the federal government is favourably disposed to raising the minimum wage to as high as N200k per month as demanded by the organised labour in the country. However, state governors are urging for caution while Anambra State governor Charles Soludo has been asked to chair a Technical Working Group (TWG) …
CHARGE EMEFIELE WITHIN ONE WEEK OR RELEASE HIM – COURT ORDERS DSS
A Federal Capital Territory High Court has ordered the Department of State Services (DSS) to charge the suspended Central Bank Of Nigeria Governor, Godwin Emefiele to court within one week or release him. Hamza Muazu, presiding judge, said the former CBN governor should be released on bail if he is not taken to a competent …
WHY NAIRA DEVALUATION IS GOOD FOR NIGERIA – RENO OMOKRI
By Deborah Osagiede Popular public figure, Reno Omokri took to his social media platform to educate Nigerians on how naira devaluation is good for the country. In his post, he stated that “Devaluation reduces imports and drives exports. It will reduce our sovereign debt and also make citizens look inward and ignite their creativity. Instead …
PRICE OF DIESEL TO RISE AS CUSTOMS BEGINS TO CHARGE 7.5% VAT ON IMPORTATION OF DIESEL
The tax agency has asked the NCS to begin to charge a 7.5 percent Value-added Tax (VAT) on Automobile Gas Oil (AGO), otherwise known as diesel, imported into the country. As a result, the customs, through Assistant Comptroller-General of Tariff and Trade, MBA Musa IN, on behalf of the Deputy Comptroller-General of Tariff and Trade, …
Meet Abiodun Fawumi, the visionary founder of Biogold Group LLC
Abiodun Fawum is the founder of Biogold Group LLC a company with wealth of experience and expertise in real estate, dredging and oil and gas industry, Abiodun Fawumi has played a pivotal role in shaping the success and growth of the company. Abiodun Fawumi is a highly accomplished professional with a deep passion for delivering …
NIGERIA REGAINS POSITION AS AFRICA’S NUMBER ONE CRUDE OIL PRODUCER
Nigeria has reclaimed the first position as Africa’s largest crude oil producer by increasing its output to 1.3 million barrels per day in May, from 1.1 million barrels per day recorded in the preceding month of April 2023. This is according to data released by the Organization of Petroleum Producing Countries (OPEC) for crude oil …
NAIRA TO TRADE FREELY AGAINST DOLLAR
The Central Bank of Nigeria(CBN) has reportedly grant banks freedom to trade forex at market-determined rate. In line with the President Bola Tinubu’s promise to unify the multiple exchange rate in the market, the Central Bank of Nigeria (CBN) has granted commercial banks and dealers in the forex market freedom to sell forex at a …