As agitations from beneficiaries of the sundry Federal Government’s intervention loans continue to mount on the Central Bank of Nigeria (CBN) and the government to write off the loans, a key player in the disbursement value chain and Managing Director of NIRSAL Microfinance Bank, Alhaji Abubakar Kure, has expressed his opposition to the clamour and urged […]
The Centre for the Promotion of Private Enterprise (CPPE), a leading organized private sector advocacy group in Nigeria, has advised the Central Bank of Nigeria (CBN) to consider fixing the Customs Duty Exchange rate at N1,000/S1 to mitigate the current hardships of business owners, particularly manufacturers, in the country. The Centre’s Chief Executive Officer, Dr. […]
The Central Bank of Nigeria (CBN) at the weekend announced the pegging of the duty rates to be paid by importers to the Nigerian Customs Services during goods clearance. Specifically, the apex bank in a circular signed by its Director of Trade and Exchange Department, Hassan Mahmud, and posted on its website on Friday instructed […]
The British High Commission in Nigeria has commended the Ogun State Government on its aggressive industrial revolution drive, which has turned the state into preferred choice for local and foreign investors over the past few years. The Deputy British High Commissioner, Mr. Jonny Baxter, gave the commendation on Friday when he led a team from […]
The House of Representatives Committee on National Agency on Food, Drugs Administration, and Control (NAFDAC), has advised the agency to suspend the enforcement of its recent ban on sale of spirits and alcoholic drinks in sachets and pet bottles. The committee’s advice was based on the need for the Legislature to conclude its investigation on […]
The Federal Government on Thursday announced the ban on exportation of Liquefied Petroleum Gas (LPG) also known as cooking gas, as part of its current efforts to boost domestic supply volume and crash the commodity’s surging price nationwide. The Minister of Petroleum (Gas), Ekperikpe Ekpo, who made this disclosure at the ‘Internal Stakeholders’ workshop with […]
Nigeria’s Gross Domestic Product (GDP) grew by 3.46% (year-on-year) in real terms in the fourth quarter of 2023, lower than the 3.52% recorded in the corresponding quarter of 2022, the National Bureau of Statistics (NBS) reported on Thursday. The Bureau, in its ‘Nigeria Gross Domestic Product Q4 2023’ report published on its website, however, stated […]
The National Palm Produce Association of Nigeria (NPPAN) has hinted of plans by the Federal Government to sign a Memorandum of Understanding (MoU) with the Malaysian Government as part of its sustained efforts marking to develop palm biomass in the country. The President of the association, Ambassador Alphonsus Inyang, was quoted as making this disclosure […]
The Senate on Wednesday appealed to the Executive arm of government to sustain the electricity subsidy regime amid ongoing hardships in the country as a means of averting a further escalation of the sundry micro and macroeconomic whirlwinds in the economy. The Red Chamber’s decision followed the deliberation and endorsement of a motion in a […]
The National Bureau of Statistics (NBS) reported on Wednesday that average retail price per litre of Household Kerosene (HHK) paid by consumers in January was N1,329.53, representing a decline of 2.40% compared to N1,362.27 paid by them in December 2023. The Bureau, in its ‘National Household Kerosene Price Watch (January 2024)’ hoisted on its website, […]