The Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote, has said that Nigeria’s oil and gas sector attracted over $60 billion Foreign Direct Investment (FDI) in the past 12 years, following the enactment and implementation of the Local Content Act. Wabote, who gave this figure in an interview […]
The Association of Small Business Owners of Nigeria (ASBON) has reiterated the need for its participation and representation at all levels of Federal Government’s decision and policy making processes as they relate to the nation’s real sector. The National President of the association, Dr. Femi Egbesola, made this demand on Tuesday during the launch of […]
The Central Bank of Nigeria’s (CBN’s) Monetary Policy Committee members on Tuesday unanimously voted to increase the benchmark interest rate (Monetary Policy Rate) by 150 basis points from 14% to 15.5%. The 15.5% benchmark rate set by the committee, which ostensibly was informed by the apex bank’s sustained measures to tackle the rising inflation in […]
The Bureau of Public Enterprises (BPE), late Sunday restated its earlier position that the Federal Government had no plans to sell the Transmission Company of Nigeria (TCN). The privatization agency made this clarification in a statement which came some few weeks after it hinted of plans to revive ailing government owned enterprises. Reacting to news […]
The Federal Inland Revenue Service (FIRS), the agency responsible for federally collectible revenue administration, has said that when governments deploy tax revenues for the common good of the citizens, there is a concomitant increase in tax compliance by citizens who see the direct benefit of the taxes they pay. The Executive Chairman of the Service, […]
….as S/East, South-South consumers paid highest for beans, bread The National Bureau of Statistics (NBS), the coordinating agency for Nigeria’s statistical system, reported on Saturday, September 24, that consumers paid more for selected food items in August, reflecting the rising inflation rate in the economy. The Bureau, in its latest ‘Selected Food Prices Watch […]
Lagos State Waste Management Authority (LAWMA) has increased the tariff charges for waste disposal by 100% in the state, attributing the hike to increase in diesel price and devaluation of the Nigerian currency. The latest hike in waste disposal was conveyed in letters sent to residents of the states on Monday by the third-party company […]
The Board of Directors of the African Development Bank Group (AfDB) has approved a $20 million concessional investment to support the second phase of the Covid-19 Off-Grid Recovery Platform (CRP). The CRP is a blended finance initiative to unlock private capital for energy access companies to mitigate the negative impacts of the pandemic while advancing […]
The Infrastructure Concession Regulatory Commission (ICRC) has expressed its readiness to support sub-national governments and the Federal Capital Territory (FCT) on viable infrastructure projects through the use of Public Private Partnerships (PPP) model. The commission’s Director General, Michael Ohiani, made promise when he received Media Trust Group’s delegation, led by its Group Chief Executive Officer, […]
The Federal Inland Revenue Service (FIRS) has cautioned government’s ministries, departments and agencies (MDAs) against appointing consultants and concessionaires to collect taxes due to the Federal Government or any of its agencies in view of its statutory role as the sole agency empowered to administer such taxes in the country. In a Public Notice issued […]