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Reps’ Stance On Cement Manufacturers Over Rising Prices Unfair – CPPE

The Centre for the Promotion of Private Enterprise (CPPE) has described the recent remarks on the floor of the House of Representatives on cement price which portrayed cement manufacturers in very bad light as not desirable and uncalled for in view of the prevailing economic whirlwinds in the economy. The Chief Executive Officer (CEO) of […]

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Nigeria’s CIT Accruals Decline By –35.40% In Q4 2023

Indications that Nigerian businesses are under-performing amid current fiscal and monetary whirlwinds triggered by the President Bola Tinubu’s administration  emerged on Friday with the aggregate, Company Income Tax (CIT) for Q4 2023 dipping to an all-time-low of N1.13 trillion. The CIT collections indicated a growth rate of –35.40% on a quarter-on-quarter basis  when compared with […]

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Nigeria’s VAT Collections Surge By 26.61% Q4 2023

The National Bureau of Statistics (NBS) reported on Friday that on the aggregate, Value Added Tax (VAT) collections in Nigeria increased to N1.20 trillion in the fourth quarter of 2023 (Q4 2023), showing a growth rate of 26.61% on a quarter-on-quarter basis from N948.07 billion raked in from the revenue source in Q3 2023. In […]

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Nigeria’s Inflation Rate Rises To 31.70% In February

….Highest Rate In Over 30 Years Despite sustained policy measures by the Central Bank of Nigeria (CBN) to moderate the nation’s inflation rate, the general price level in the economy continues its upward trend, rising to 31.70% in February this year from the 29.90% recorded in the preceding month. The National Bureau of Statistics (NBS), […]

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High Interest Rate On Loans Undesirable For SMEs’ Growth – NICA

The National Institute of Credit Administration (NICA) has expressed serious concern about the high-interest-rate on loans being offered by banks to Small and Medium Enterprises (SMEs) in the country, describing it as undesirable for the growth of the enterprises and the nation’s economy. The Registrar/Chief Executive Officer of the professional body, Prof Chris Onalo, in […]

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CBN Raises Customs FX Clearance Rate To N1612/$1

The Central Bank of Nigeria (CBN) has increased the foreign exchange (FX rate) for clearance of goods at different import points from N1593.84/$1 to N1612.28/$1, representing N18.44 increase. The latest FX rate displayed on the Nigeria Customs Service’s (NCS’) portal indicated that the latest FX rate was introduced on Monday, March 11. According to the […]

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FG Secures €995Mn For Greener Hope Initiative Programme

The Minister of Agriculture and Food Security, Sen. Abubakar Kyari, on Monday hinted that the Federal Government had sealed a €995 million investment deal with the Brazilian Government and the German Deutsch Bank Group to finance a Green Hope Initiative programme in Nigeria. Kyari, who made the disclosure during President Bola Tinubu’s visit to Minna, […]

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NDPC Seals Pacts With Lottery Commission, SMEDAN On Sectorial Regulation

The Nigeria Data Protection Commission (NDPC) has signed Memoranda of Understanding (MoU)  with the National Lottery Regulatory Commission (NLRC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), aimed at bolstering data protection initiatives across various sectors of the political economy. The NPDC’s Head, Media Unit, Itunu Dosekun, in a statement issued on […]

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Welfarist Policies Crucial To Bridging Nigeria’s Housing Deficit – Adesina

…As 49% Of Population Lives In Slums The President of African Development Bank (AfDB), Dr. Akinwumi Adesina, has charged the Nigerian government to urgently introduce welfarist policies needed to ensure all Nigerians have access to basic and affordable housing. Adesina, who gave the charge in his lecture at the occasion where he was honoured with […]

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FIRS Introduces Self-Registration Module On Tax-Pro Max Platform

In furtherance of its sustained drive to digitalize revenue collections at the federal level, the Federal Inland Revenue Service (FIRS) has introduced a self-registration module on the Tax-Pro Max platform. The revenue agency, in a public notice signed by its Executive Chairman, Dr. Zacch Adedeji, indicated that the initiative was part of reforms towards improving […]