The House of Representatives yesterday commenced a legislative process that may end the era of estimated billing regime in the nation’s electricity market. The House is considering a bill seeking to amend the Electricity Power Reform Act 2004. Sponsored by the Majority Leader, Hon. Femi Gbajabiamila and others, the Bill scaled second reading. If passed […]
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) stated yesterday that it recovered a total of N57.7 billion from banks as unremitted revenues collected on behalf of the Federal Government. Recent investigations on the banks on revenue collected for the government from July 2012 to December 2015, indicated that the lenders failed to remit N74.1 […]
The International Monetary Fund (IMF) on Tuesday projected that the Nigerian economy would grow from 0.8 per cent in 2017 to 2.1 per cent by the end 2018 and by 1.9 per cent in 2019. This is even as the Fund cautioned of possible crash in crude oil prices in the near future. While giving […]
The Federal Government has indicated its intention to offer for subscription by auction N90 billion worth of bonds next Wednesday, 25th April. The Debt Management Office (DMO) in a circular hosted on its website, stated that it would auction N30 billion of a five-year new issue maturing in April 2023 at an undisclosed rate. It […]
Jumia, the leading online eCommerce ecosystem in Africa, has reported a growth by 64.5 percent in its Gross Merchandise Volume (GMV) to 197,9 Million Euros (MEUR), representing (+113% in constant currency) in the fourth quarter of 2017. According to a press release issued by the company yesterday on its trade performance in the continent, the […]
In furtherance of its efforts to plug all leakages in public finance, the Federal Government has commenced audits in 28 Ministries, Departments and Agencies, MDAs, over allegations of contract inflation and conversion of government assets to personal use. The exercise is being conducted by the investigative section of the whistle-blower unit of the Ministry of […]
The National Bureau of Statistics (NBS), in collaboration with the Federal Ministry of Water Resources and UNICEF, has unveiled plans to conduct WASH – NORM Survey effective from 26th April in all the 36 states and the Federal Capital Territory (FCT). A statement issued by the Statistician General of the Federation, Dr Yemi Kale, on […]
The Office of Technical Assistance (OTA) of the United States Department of Treasury has commended the Nigeria Deposit Insurance Corporation (NDIC) on the establishment of a world class academy that serves as a reference point for capacity building on Deposit Insurance System (DIS) for the African continent. A statement issued by the Corporation’s Head, Communication […]
President Muhammadu Buhari opened his meeting with the British Prime Minister, Theresa May, today in London with a strong appeal for improved investments from the UK in the nation’s economy. The President, who said that he was very concerned about improving the security and economic situation of the country, restated his government’s commitment to the […]
The Lagos State Government at the weekend disclosed that it had paid N9.3 billion to 2,466 pensioners in the state between May 2017 and March 2018, adding that issues affecting retirees in the state will continue to be prioritized. The Commissioner for Establishment, Training and Pensions, Dr Akintola Benson-Oke, who gave these figures at the […]