The Governor of Kaduna State, Malam Nasir El-Rufai, says state governments are ready to support the Federal Government in the elimination of fuel subsidy regime. El-Rufai gave the assurance on Tuesday in Abuja, at the presentation of the World Bank Nigeria Development Update, November 2021 edition titled “Time for Business Unusual”. El-Rufai, a panelist who […]
The monetary policy committee of the Central Bank of Nigeria (CBN) has voted to retain the monetary policy rate (MPR), which measures interest rate, at 11.5 percent. The monetary policy rate (MPR) is the baseline interest rate in an economy, every other interest rate used within an economy is built on the MPR. Addressing journalists […]
The Vice President, Prof. Yemi Osinbajo, has said that the Federal Government plans to inject 10 million gas cylinders in the next one year, through certified marketers in 12 pilot states. Osinbajo disclosed this at a two-day Liquefied Petroleum Gas (LPG) sensitisation under the theme: “Stimulating Delta state’s socio-economic growth through LPG adoption and expansion”, […]
Zainab Ahmed, minister of finance, budget and national planning, says Nigeria will remove fuel subsidies by 2022 and replace them with a N5000-a-month transportation grant to the poorest Nigerians. Speaking at the launch of the World Bank Nigeria Development Update (NDU) on Tuesday, the minister said the grant will go to about 20 to 40 […]
The naira was trading at N545 to the dollar on the parallel market at the weekend, maintaining its strongest level since early September 2021. The local currency exchanges at N411.59 to the dollar at the official market. The naira stability was triggered by drop in dollar demand by importers and other forex users who are […]
The total value-added tax (VAT) generated by the Kano state government in the first eight months of 2021 was higher than what was generated by the entire south-east region. The south-east region consists of five states namely: Abia, Anambra, Ebonyi, Enugu and Imo. Kano generated total VAT revenue of N24.4 billion while the entire south-east […]
The All Progressives Grand Alliance in Abia has charged the state government to focus its energy on infrastructure development and the payment of the arrears of salaries and pensions and stop hounding the opposition party. APGA gave the charge in a statement issued in Umuahia by its Chairman, Rev. Augustine Ehiemere, and made available to […]
Vice President, Yemi Osinbajo has reiterated the need for the timely payment of taxes by citizens to enable the government to address the diverse challenges in the country saying, the fiscal challenge facing Nigeria is inadequate revenue especially in the face of lower oil revenue. Professor Osinbajo noted providence and good policies of the President […]
Senate President Ahmad Lawan says the national assembly will pass the 2022 appropriation bill before the Christmas holiday. Speaking at the New Telegraph award ceremony on Friday night in Lagos, Lawan said the legislature is working to ensure that the bill is passed early enough so the executive could start acting on it in the […]
The International Monetary Fund (IMF) has called on the Federal Government of Nigeria to completely remove fuel and electricity subsidies early next year. The Washington-based organisation, in its preliminary findings at the end of its official staff visit to the country under the Artile IV Mission, also called for reforms in the fiscal, exchange rate, […]
