Taiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, says the federal government is not recruiting ‘area boys’ to collect taxes. During an interview on Channels Television on January 17, 2023, Oyedele said his team is planning to involve all stakeholders in implementation — including louts popularly called area boys. […]
The 2023 presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has asked President Bola Tinubu to account for the Nigerian National Petroleum Company Limited’s $3.3 billion emergency crude repayment loan. On August 16, 2023, the NNPCL secured a $3.3 billion emergency crude repayment loan — a transaction aimed at supporting the naira and […]
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, said that the apex bank is working to reduce the headline inflation rate to 21.4 per cent this year. Cardoso gave this assurance in a keynote address at the launch of the Nigeria Economic Summit Group 2024 Economic Outlook report. The […]
Nigerians spent $1.58bn on health tourism, foreign education, and other personal matters in six months, data from the Central Bank of Nigeria have revealed. The data from the apex bank’s Balance of Payment compilation spanning the first six months of 2023 showed that Nigerians spent $245.68m on overseas health-related issues, $896.09m on foreign education, […]
The Minister of State for Petroleum Resources (Oil), Dr Heineken Lokpobiri, has disclosed that Nigeria will spend a total sum of $3.1tn to transit from fossil fuel to cleaner and renewable energy. Lokpobiri said the nation had projected $1.9tn for energy transition plan, while $1.2tn was estimated for renewable energy plan in 2060, making […]
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said the Federal Government will be saving N8tn annually from the fuel subsidy removal and exchange rate unification policies. Oyedele spoke during a panel session at the Lagos Chamber of Commerce and Industry 2024 Economic Outlook and Budget Analysis. He, […]
The country’s inflation rate is now at 28.9 %, according to figures from the National Bureau of Statistics (NBS). This was disclosed in the NBS December 2023 Consumer Price Index (CPI) which was released on Monday afternoon. The CPI measures the rate of change in the prices of foods and services. Before Monday’s release, […]
The naira has lost 26.36 per cent of its value against the dollar at the official Investor and Exporter window of the foreign exchange market since the Central Bank of Nigeria announced it has cleared $2bn as part of its backlog obligations. On Monday, the apex bank disclosed it paid $2bn from the backlog […]
The Chairman of the House of Representatives Committee on the Down stream petroleum sector, Hon Ikenga Imo Ugochiynere ( Ideato Federal Constituency of Imo state ), has said that there are no plans to increase the pump price of petroleum products, especially the primum motor spirit( petrol ) as being speculated. He also adviced […]
The Nigerian National Petroleum Company (NNPC) Limited has denied that it had a dispute with independent petrol marketers over an alleged subsidy on Premium Motor Spirit (PMS). There were reports that fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria clashed with the NNPC over whether the government was still […]
