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Telecom Sector Contributes N2.508Trn To Nigeria’s GDP – NBS

The Nigerian Communications Commission (NCC)) has reported that the telecommunications and information services sector generated  N2.508 trillion as revenue to the federation account  in the first quarter 2023, representing 14.13% to the nation’s gross domestic product (GDP) during the quarter. Data released by the National Bureau of Statistics (NBS) showed that the sector recorded a […]

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NPA Inaugurates Techno-Powered Control Towers For Lagos Ports

The Nigerian Ports Authority (NPA) has inaugurated modern control towers for the Lagos and Tin Can Island Port complexes as part of its sustained drive of transforming the Nigerian maritime logistics hub into sustainable port services in Africa. The Managing Director/CEO of NPA, Mr Mohammed Bello-Koko, said at the inauguration of the towers on Thursday […]

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RMAFC Supports Fuel Subsidy Removal, Canvasses Palliative Measures

The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has expressed its support for the fuel subsidy removal by President Bola Ahmed Tinubu during his inaugural address, describing the fiscal regime as a major challenge to the nation’s economic growth and development over the years. The commission’s Chairman, Mr. Mohammed Bello Shehu, in a statement on […]

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Data Protection Has Contributed N5.5Bn To Nigeria’s GDP – NDPB Boss

The National Commissioner of the Nigerian Data Protection Bureau (NDPB), Dr. Vincent Olatunji, has stated that the data protection industry had so far contributed N5.5 billion to Nigeria’s Gross Domestic Product (GDP). A statement issued by the Bureau’s Head of the Media Unit, Itunu Dosekun, quoted the commissioner as making this disclosure at the Nigeria-Netherlands […]

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FIRS, LIRS Sign MoU On Joint Tax Audit/Investigation Exercise

….seek stakeholders’ support for successful exercise The Federal Inland Revenue Service (FIRS) and Lagos Internal Revenue Service (LIRS) have issued a public notice on the Memorandum of Understanding (MoU) signed by them to establish a Joint FIRS and LIRS Audit and Investigation Team aimed at encouraging the exchange of information between both agencies. Based on […]

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Africa Has Technology, Innovation To Tackle Food Insecurity – Adesina

The African Development Bank (AfDB) President, Dr. Akinwumi Adesina, has said that Africa is endowed with necessary partnerships and technologies to eradicate hunger and that what is needed is action and adequate funding of the agriculture sector across the continent. Adesina made this remark during the opening session of the 8th Africa Agribusiness and Science Week […]

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Tinubu Reiterates Commitment To Transparent, Competitive Oil Market

President Bola Tinubu on Thursday restated his administration’s total commitment to eliminating all forms of abuses in the petroleum industry’s downstream sub-sector as a strategic step towards ensuring regular supply of products at competitive prices in the country. The President expressed this during his meeting on Wednesday with representatives of major oil marketers’ associations on […]

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CBN Issues MfB Licence To Awacash

The Central Bank of Nigeria has issued Awacash, a fintech platform, a microfinance bank (MfB)  licence following the company’s earlier acquisition of a money lending license. Commenting on the latest regulatory approval by the monetary authorities granted the fintech platform to operate as MfB, Co-Founder of Awacash, Dayo Okunfolami, said: “We understand the obstacles encountered […]

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Nigeria Has Largest Population Without Access To Electricity Globally – Report

  ….86mn Nigerians lack access to power supply ….80% of world’s un-served live in Africa A recent report by major international agencies involved in global development has indicated that 86 million Nigerians lack access to electricity, thereby making the country with the largest number of people without electricity access globally. The report, which was compiled […]

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Naira Loses, Trades N753/$1 At Parallel Market

Nigeria’s currency, the Naira, depreciated in exchange rate against the US dollar at the black market on Wednesday by 0.40% to trade at an average rate of N753/$1 when compared to the N750/$1 it exchanged at during the previous day’s trading session. The local currency also marginally lost in exchange rate value against the British […]