Crime & Judiciary Matters Foreign Latest News Manufacturing Taxation

Kenyan Govt To Prosecute Billionaire, Others Over Alleged Tax Evasion

Kenya’s Director of Public Prosecution, (DPP) Noordin Haji, has ordered the immediate arrest and prosecution of Humphrey Kariuki, the owner of Wines of the World Limited (WoW) and Africa Spirits Limited alongside eighth other accomplices over allegations of KSh 41 billion tax evasion. According to a news report by, Kariuki and the other eight […]

Economy News Extra Latest News Manufacturing Oil & Gas

Manufacturers Decry High Cost Of Gas, Seek Price Review

The Manufacturers Association of Nigeria (MAN) has charged the Ministry of Petroleum Resources to address the challenges being encountered by manufacturers on rising price of gas and called for immediate review of the price. The President of the organized private sector group, Engr. Mansur Ahmed, Ahmed made the call at an interactive forum on gas […]

Banking Economy News Extra Investments/Capital Market Latest News Manufacturing

FG Targets 20% Real Sector’s Contribution To Nation’s GDP

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 […]

Banking Economy News Extra Latest News Manufacturing

Nigeria’s Industrial GDP Dips To 13.1% On Real Sector Constraints

Latest report by the African Development Bank (AfDB) on the performance of African economies’ industrial sector showed that Nigeria’s industrial GDP suffered serious decline, ebbing to 13.1 percent Specifically, the report titled ‘Industrialise Africa’showed that South Africa recorded the highest Industrial Gross Domestic Product (GDP) with 44.8 percent followed by Egypt, with 30.1 per cent; […]

Economy News Extra Latest News Manufacturing Privatisation & Commerce

BFIG Asks BPE To Comply With Supreme Court Ruling On ALSCON

The legal counsel to BFI Group, Barr. Patrick Ikwueto, a Senior Advocate of Nigeria (SAN), has written to the Bureau of Public Enterprises (BPE) asking the privatization agency to immediately and unconditionally comply with the July 6, 2012 judgment of the Supreme Court on the ownership of the multi-million aluminium processing plant. Ikwueto formally communicated […]

Economy News Extra Latest News Manufacturing Taxation

MAN Urges FG To Harmonise Taxes, Levies

The Manufacturers Association of Nigeria (MAN) on Wednesday advised the Federal Government to harmonize taxes/levies/fees payable by businesses in the country in order to attract more investments for sustainable development of the country. The group also believed the step would translate to higher productivity and more tax revenue for the government in the medium and […]

Economy News Extra Latest News Manufacturing Taxation

Industrialist Cautions Govt On Proposed VAT Rate Hike

The Managing Director of NISPO Porcelain Company Limited, Mr. Afam Ukatu, has advised the fiscal authorities to suspend the proposed Value Added Tax (VAT) hike and to frontally tackle the problem of multiple taxation in order to prevent many manufacturing companies’ collapse. Ukatu, who commented on the incidence of the multiplicity of taxes in the country […]

Banking Economy News Extra Latest News Manufacturing

Manufacturers Record Slower Growth In February – CBN

The Central Bank of Nigeria (CBN)  has reported that the nation’s manufacturers continued to expand their output for the 24th consecutive month with the Manufacturing Purchasing Managers’ Index (PMI) standing at 57.1 index points. However, the month’s PMI growth was slower  when compared with the 58.5 index points recorded in the preceding month. According to […]

Economy News Extra Latest News Manufacturing

LCCI To Inaugurate Printing, Publishing And Allied Group

The Lagos Chamber of Commerce and Industry (LCCI), the premier chamber of commerce and a leading voice in the Organised Private Sector (OPS) in Nigeria, on Monday unveiled plans to inaugurate a new group, the Printing, Publishing and Allied Group, tomorrow. According to the Chamber, the group is intended to bring together stakeholders from the […]