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FG Reiterates Commitment To Bridge Nation’s Infrastructure Gap

The Federal Government has restated its commitment to the development of infrastructure through Public Private Partnerships (PPP) in order to bridge  the huge gap in the nation’s infrastructure base and by so doing, alleviate the challenges facing stakeholders in their strive to boost the country’s Gross Domestic Product (GDP). The Acting Director General, Infrastructure Concession […]

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VAT Revenue Grew 4.41%, Hit N588.59Bn In Q1 2022 – NBS

The National Bureau of Statistics (NBS) has reported that the aggregate Value Added Tax (VAT) collection stood at N588.59 billion in the first quarter of 2022, representing a quarter-on-quarter growth of 4.41 percent over the N563.72 billion raked in from the revenue source in Q4, 2021. The statistics agency in its report ‘Sectorial Distribution of […]

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Parallel Market’s Exchange Rates Hampering Nigeria’s Trade Balance Efforts – IMF

The International Monetary Fund (IMF) has said that efforts to address Nigeria’s merchandize trade imbalances are not achieving the desired results due to Foreign Exchange (forex) strains relating to exchange rate premiums in the nation’s parallel market. The Fund made this disclosure during its staff meetings with the Nigerian authorities from June 6-10, 2022, to […]

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AfreximBank Canvasses Improved Intra-African Trade, Financing

African Export-Import Bank (Afreximbank), one of Africa’s multilateral finance institution, has advocated the need for increase in intra-African trade and financing based on the continent’s abundant youth and technology resources. The President/Chairman of the Board of Directors of the bank, Prof. Benedict Oramah, gave this charge to African governments in his opening remarks during the […]

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Nigeria’s Inflation Up 17.71% In May, Highest In 11 Months

….. as Kogi State recorded the highest food inflation of 22.79% The National Bureau of Statistics (NBS) reported on Wednesday that Nigeria’s consumer price index (CPI), which measures the rate of inflation, surged to 17.71 percent year-on-year (Y-o-Y) in May from the 16.82 percent recorded in the preceding month, representing the highest level in 11 […]

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Dangote Sugar Reports N276Bn Turnover, To Pay N12.417Bn Dividend

Dangote Sugar Refinery Plc has declared a turnover of N276 billion for the financial year ended December 31, 2021, representing 29 percent increase over the N214 billion recorded in 2020 financial year. The company’s Chairman, Mr. Aliko Dangote, who gave these figures at the company’s 16th Annual General Meeting (AGM) on Wednesday in Lagos, also […]

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Nigeria’s Power Generation Rebounds, Hits 79.04Gwh On Tuesday

The Transmission Company of Nigeria (TCN) on Wednesday reported  that Nigeria’s electricity generation rebounded on Tuesday to 79.04GWh from the 67.17GWh generated the preceding day. The company, in its latest information on the electricity generation and supply trend in the country, also reported that energy supply increased by 17.8% to 78.2GWh on Tuesday, compared to […]

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Nigeria’s Power Generation Dips To 79,872MWh, Lowest In 30 Days

Nigeria’s electricity generation fell to one-month low on Tuesday by 5.87% to 79,872.94MWh compared to 84,849.41MWh generated on Monday. According to information provided by the Transmission Company of Nigeria (TCN) on the electricity generation situation in the country for the day in review, the energy supplied also fell to 78,835.73MWh on Tuesday. A further analysis […]

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NEPC Charges Exporters On Tapping Incentive Schemes’ Benefits

The Nigerian Export Promotion Council (NEPC) has advised exporters in the country, particularly those in Imo State, to take advantage of its export incentive schemes to grow their businesses. The council’s Executive Director, Dr. Ezra Yakusak, gave the advice on Wednesday in his address during the sensitisation forum on export incentives organized by the council […]