President Bola Tinubu has stated that his administration’s tax reforms have come to stay. The Nigerian leader stated this on Monday night while speaking during his first presidential media chat in Lagos State. The tax reform bills, which are before the National Assembly, have generated controversies and met push back especially from the Northern leaders, […]
The President has said he does not support price control as a means of bringing down food prices. Tinubu, who spoke on Monday during the presidential media chat, said the forces of demand and supply would eventually force down the prices. Traveling across Quang Binh to stunning cinematic locations He added, “I don’t believe in […]
President Bola Tinubu has reiterated that he has no regrets about removing the fuel subsidy, emphasising that the decision was necessary to secure Nigeria’s financial future. Speaking on Monday during a live presidential media chat broadcast nationwide, Tinubu explained that the subsidy was draining the country’s resources and jeopardizing future investments. He said, “We are […]
Imo State Governor, Senator Hope Uzodinma has presented a proposed budget estimate of 755.6 billion naira to the state House of Assembly for legislative consideration and approval. While presenting the budget, the governor revealed that the budget tagged, “Budget of expanded economic opportunities” is 27.6 percent higher compared to the 2024 budget. Governor Uzodimma said […]
The economy grew by 3.46 per cent in Q32024, with output reaching ₦20.115 trillion, up from 3.19 per cent (₦18.285 trillion) in Q2 2024, driven mainly by the non-oil sector. This was revealed in the Central Bank of Nigeria’s newly released Economic Report for the third quarter of 2024. The report said inflation moderated during […]
Elder statesman, Chief Edwin Clark, has faulted the pushback by the 19 northern governors against the tax reform bills introduced by President Bola Tinubu. “As far as I am concerned, that tax bill must go on,” the nonagenarian said on the Sunday edition of Inside Sources with Laolu Akande, a socio-political programme aired on Channels […]
The Nigerian National Petroleum Company (NNPC) Limited says the old Port Harcourt refinery has not shut down operations. Reports had made rounds that the refinery was nonfunctional months after a rehabilitation exercise. In a statement on Saturday, Femi Soneye, NNPC’s spokesperson, described the reports as “totally false”. “The attention of the Nigerian National Petroleum Company […]
The Central Bank of Nigeria has granted temporary permission to Bureau de Change operators, to purchase up to $25,000 in foreign exchange weekly from the Nigerian Foreign Exchange Market, which was launched earlier this month. The arrangement will be in effect from December 19, 2024, to January 30, 2025. A circular dated December 19, 2024, […]
Over 40 million people across West and Central Africa are struggling to feed themselves during the 2024 post-harvest season. A statement released by the United Nations World Food Programme on Friday said the number is set to rise to 52.7 million by mid-2025, including 3.4 million people facing emergency levels of hunger (IPC/CH Phase 4). […]
The Central Bank of Nigeria has said businesses, while expressing optimism about the macroeconomic environment, have projected further depreciation of the naira this month and the first three months of 2025. In its Business Expectation Survey Report for November 2024, noted that firms’ outlook on the volume of business activities, financial conditions, access to credit, […]
