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Senate Approves Customs’ N5.09Trn Revenue Target For Fiscal 2024

Nigeria’s Senate has approved the sum of N5.079 trillion as a revenue target and N706.4 billion as budget for the Nigeria Customs Service (NCS) in the 2024 fiscal year. The Red Chambers’ approval of the proposals followed the consideration of a report presentation by the Chairman of the Committee on Customs, Excise, and Tariff, Senator […]

Banking Budgeting Latest News Planning & Economic Development Political Economy Revenue Technology Transportation

Ogun To Partner W/Bank, Others For Enhanced Transportation System

Ogun State Government has expressed its desire to collaborate with the National Council on Transportation, neighbouring states, development partners like the UK-Nigeria Infrastructure Advisory Facility and multilateral institutions like the World Bank, to actualise the vision for seamless multimodal transportation in the state. The State Governor, Prince Dapo Abiodun, disclosed this during the opening ceremony […]

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Nigeria’s Capital Importation Up 66.27% In Q4 2023

….Lagos Attracts 65.35% Of Capital Inflows The National Bureau of Statistics (NBS) at the weekend reported that Nigeria’s total capital importation value in the fourth quarter of last year marginally increased to $1.088 billion, slightly higher than the  $1.060 billion recorded in Q4 2022 and represented a 2.62% year-on-year increase. But then, the statistics agency […]

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CPS Assets Grow To N18.1Trn, As Contributors Hit 10.1Mn

The National Pension Commission (PenCom) at the weekend disclosed that the total pension assets under the Contributory Pension Scheme (CPS) had grown to about N18 trillion as of December 2023 even as registered contributors also increased to about 10.I million. The commission’s Head, Corporate Communications Department, Ibrahim Garba Buwai, who gave these hints at the […]

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Analysts Forecast Bullish Momentum In Nigerian Exchange

Investment researchers at Bancorp Securities Limited, a leading investment research and consulting firm, have projected that trading on the Nigerian Exchange (NGX) this week would be bullish as Banking and Service sectors stocks attract investors’ interest. However, the experts in the firm’s ‘Weekly Stock Recommendation: Feb 19- Feb 23’ circulated to our correspondent noted that […]

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AGF, FSD Africa Seal Pact To Boost Green SME Financing

The African Guarantee Fund (AGF), a leader in promoting financing of Small and Medium-sized Enterprises (SMEs) across Africa and FSD Africa, a pioneering development agency committed to reshaping Africa’s long-term financial landscape, have signed a strategic collaborative pact aimed at propelling the growth of Green SMEs by providing critical financial support, technical assistance, and capacity […]

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FG Targets 300 Direct Jobs From ‘Project 774 LG Connectivity’

The Federal Government on Monday announced the launching of its ‘Project 774 LG Connectivity’ to foster inclusive development, promote access to digital public infrastructure, and create 300 direct jobs. The Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, who made the disclosure  via his X handle, said that the implementation of the project […]

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Nigeria’s Unemployment Rate Rises To 5.0% In Q3 2023

Nigeria’s unemployment rate significantly surged to 5.0% in the third quarter of 2023, representing an increase of 0.8% points increase over the unemployment rate of the preceding quarter. The figures were given by the National Bureau of Statistics (NBS) in its ‘Labour Force Survey Q3 2023’ report published on Monday on its website. An analysis […]

Banking Budgeting Fiscal Law & Act Foreign Exchange (Forex) Infrastructure & Capital Projects Latest News National Assembly Oil & Gas Planning & Economic Development Political Economy Revenue Revenue Agencies Taxation Technology Transportation

FIRS To Parley CBN, Works Ministry On Tax Credit Scheme For Construction Projects

The Federal Inland Revenue Service (FIRS) has unveiled plans to meet with the Central Bank of Nigeria (CBN) and Ministry of Works this Friday with a view to reviewing about N2.59 trillion tax credit scheme for road repairs and construction in the country. The Chairman of the federal revenue service, Dr. Zacch Adedeji, during a […]

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Nigeria’s Inflation Sustains Surge, Hits 29.90% In January

Nigeria’s inflation rate in January 2024 further increased, rising to 29.90% from 28.92% recorded in the previous month, amid macroeconomic whirlwinds in the nation’s socioeconomic space. The latest National Bureau of Statistics (NBS) ‘CPI and Inflation Report January 2024’ report posted on its website on Thursday indicated that the increase in the general price level […]