Mele Kyari, chief executive officer of the Nigerian National Petroleum Company (NNPC) Limited, says the Petroleum Industry Act (PIA) provides business opportunities that will enable the company earn more revenue for the country. Kyari said this while addressing staff of the organisation in a townhall meeting held at NNPC Towers, Abuja, at the weekend. Highlighting […]
The University of Lagos (UNILAG) has reinstated Olorunfemi Adeyeye, a student activist, who was rusticated over five years ago by the management of the institution. In 2016, Adeyeye, a student of the department of building, bagged a four-semester suspension for participating in a student protest on April 6 and 8, 2016, which resulted in the […]
The World Bank says the Nigerian economy is expected to grow by 2.5 percent in 2022, up from an estimated 2.4 percent growth in 2021. The Washington-based institution disclosed this in its latest Global Economic Prospects report released on Tuesday. The bank attributed the rebound to higher oil prices as well as accelerated growth in […]
The Central Bank of Nigeria (CBN) yesterday adjusted the value of the naira further down to N414.14 per dollar from N413.96/$1 on Thursday, data on the apex bank’s website shows. Having weakened the naira to N413.49/$1 on December 31, 2021, the CBN adjusted the local currency further down to N413.67 per dollar and N413.96/$1 on […]
The Nigeria Labour Congress (NLC) is rejecting plans by the Federal Government to increase taxes on non-alcoholic and carbonated drinks. NLC’s position is contained in a statement signed by its President, Mr Ayuba Wabba, which was circulated to journalists in Abuja. The government had announced the increased taxes as a way of discouraging over-consumption of […]
President Muhammadu Buhari on Wednesday defended his government’s decision to source loans from China, saying anyone willing to help Nigeria’s infrastructure is welcome. According to data from the Debt Management Office, Nigeria has borrowed $2.02 billion as loans from China from 2015 and the country’s debt portfolio from China has risen to $3.40bn as of […]
Nigerians may have to pay more for digital services as the Federal Government has introduced a policy requiring foreign companies that provide digital services in the country to collect and remit Value Added Tax to the Federal Inland Revenue Service. The Minister of Finance, Budget and National Planning, Zainab Ahmed, said this during the public […]
The federal government has introduced an excise duty of N10/litre on all non-alcoholic, carbonated and sweetened beverages. Excise duty is a form of tax imposed on the production, licensing and sale of goods. Zainab Ahmed, minister of finance, budget and national planning, said this during the public presentation of the 2022 Appropriation Act on Wednesday […]
The Minister of Power, Engr. Abubakar Aliyu has said that the Buhari administration was worried about power generation hovering around 5,000MW. He said efforts were on to increase it to 7,000MW, then 11,000 MW before finally reaching 25,000MW in a few years time. According to him, the 215MW Kudenda power station in the Chikun local […]
President Muhammadu Buhari has approved the appointment of Chief Doyin Salami as Chief Economic Adviser to the President (CEAP). The president’s spokesman, Mr Femi Adesina, confirmed the development in a statement on Tuesday. Salami, 59, Chairman of the Presidential Economic Advisory Council, is also the Managing Director and Head Markets Practice at KAINOS Edge Consulting […]
