The Japanese Government has announced plans to boost cooperation with Nigeria and other Sub-Saharan African (SSA) countries by investing about $30 billion in Nigeria and others between now and year 2025. The Japanese Ambassador to Nigeria, Mr. Matsunaga Kazuyoshi, made this disclosure at an event organized by the Japanese Embassy to commemorate the 63rd birthday […]
Indications that the lingering cash crunch didn’t really affect the general price level in Nigeria emerged on Tuesday as the National Bureau of Statistics (NBS) reported that the nation’s headline inflation rate still surged to 21.91% in February compared to the 21.82% rate reported in January 2023. The Bureau, in its ‘Consumer Price Index February […]
The Securities and Exchange Commission (SEC) Nigeria has registered the 2,055,226,476 bonus shares of Nigerian Breweries Plc approved by the shareholders at an Extraordinary General Meeting (EoGM) held on December 8, 2022 in Lagos. The Company Secretary, Barr. Uaboi Agbaku, in a corporate disclosure sent to the Nigerian Exchange Limited (NGX), stated that the befitting […]
The Securities and Exchange Commission (SEC) Nigeria has said that the implementation of the Pan-African Payment Settlement System (PAPSS) will boost intra-African trade and diversification within the capital market in the years ahead. The Head, Office of the Chief Economist of the capital market regulatory commission, Dr. Okey Umeano, made this remark during the signing […]
The Centre for the Promotion of Private Enterprise (CPPE), a leading economic think-tank in Nigeria, estimated the protracted acute cash scarcity has cost the country over N20 trillion even as the negative impacts on households and ordinary Nigerians cannot be quantified in monetary terms. The Centre’s Chief Executive Officer, Dr. Muda Yusuf, in a statement […]
The Securities and Exchange Commission (SEC) Nigeria has approved a new share buy-back programme for Dangote Cement Plc as part of the manufacturing company’s financial strategies for improved returns on its assets and stock value. A Notice on the approval from the Nigerian Exchange Limited (NGX) indicated that the share buy-back programme would expire on […]
The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has charged global leaders and development experts to consider adopting a new way of measuring wealth of nations in view of the lapses in the current Gross Domestic Product (GDP) approach. Adesina, made this call when the United States’ nominee for World Bank Group […]
The National Bureau of Statistics (NBS) on Wednesday reported that on the aggregate, Nigeria’s Company Income Tax (CIT) collections for Q4 2022 totalled N753.88 billion, representing N56.31 billion decline from the N810.19 billion collections in the preceding quarter. The NBS, in its just published ‘Company Income Tax Q4 2022’ report disclosed that out of the […]
The National Bureau of Statistics (NBS) has reported that on the aggregate, Nigeria’s Value Added Tax (VAT) collections for Q4 2022 increased to N697.38 billion, representing a growth rate of 11.51% on a quarter-on-quarter basis from N625.39 billion in Q3 2022. The statistics agency, in its just published report titled ‘Value Added Tax (VAT) Q4 […]
….Estimates N10Trn Yearly Savings From FX, Fuel Subsidy Removal The Centre for the Promotion of Private Enterprise (CPPE), one of the private sector advocacy groups in Nigeria, has highlighted some key economic development initiatives the incoming administration should prioritize in its reform agenda to strongly position the nation’s economy on the path of sustainable growth […]