The Federal Government has unveiled plans to raise manufacturing sector’s contribution to the nation’s Gross Domestic Product (GDP) to 20 percent within the next six years. Currently, the real sector’s contributions to the nation’s GDP is less than 10 percent, thereby necessitating huge importation of manufactured goods with the attendant negative implications for Nigeria’s foreign […]
The Federal Inland Revenue Service (FIRS) and the National Lottery Regulatory Commission (NLRC) have initiated processes for the automation of Value Added Tax (VAT) collection in the lottery and gaming businesses in the country. The Head, Communications and Servicom Department of FIRS, Wahab Gbadamosi, in a statement quoted the Executive Chairman, Tunde Fowler, as making […]
The World Bank has revised Nigeria’s economic growth forecast for 2019 to 2.1 percent, down from the earlier 2.2 per cent growth projection for the country, representing 0.1 percent point reduction. The Breton Woods institution’s latest forecast on Nigeria was contained in the April edition of Africa’s Pulse, the bank’s periodical analysis of the state […]
The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh, has said that the next phase of the Reform and Privatisation Programme of the Federal Government will focus on Public Private Partnerships (PPPs) in order to correct the rising infrastructure deficit in the country. Okoh made the remarks when he received a delegation […]
Vice President Yemi Osinbajo has expressed confidence in the ability of the new board and management of the Nigerian Deposit Insurance Corporation (NDIC) led by Mrs Ronke Sokefun, to provide the needed leadership required to consolidate on the corporation’s achievements in recent years. Osinbajo, who described the new chairman as a seasoned technocrat, gave the […]
The International Monetary Fund (IMF) on Tuesday projected that Nigeria’s economy would grow at the rate of 2.5 percent by 2020, up from the 2.1 percent forecast for 2019. The Breton Woods institution in a new World Economic Outlook (WEO) release issued at its ongoing joint annual spring meetings with the World Bank, in Washington […]
The Civil Society Legislative Advocacy Centre (CISLAC) has decried the delayed response and poor measures by government in the country over the growing rate of kidnapping. The group, in statement signed by its Executive Director, Auwal Ibrahim Musa (Rafsanjani), noted that since 2007, the country had been witnessing increased spate of kidnapping in the South, particularly South-South […]
The latest report on Nigerians searching to buy or rent apartments that meet their needs by Reuters indicated that the number of the potential housing buyers and tenants was surging by the day, in spite of the sluggish growth of the nation’s economy. According to the latest news sourced from the online medium on Friday, […]
The embattled Chief Justice of Nigeria (CJN) Justice Walter Onnoghen, who over the past three months had been facing corruption charges, resigned his appointment with immediate effect on Friday. Onnoghen, who has been in the ‘eyes of the anti-corruption storm’ over the past months reportedly turned in his resignation letter to President Muhammadu Buhari late […]
The National Bureau of Statistics (NBS) on Friday reported that total volume of petrol imported to supplement local refining output in the fourth quarter of last year stood at 5.32 billion litres. The official statistics producing and reporting agency in its ‘Petroleum Products Imports and Consumption (Truck Out) Statistics’ report disclosed further that 1.3 billion […]