….as NBS adopts global methodology for survey The National Bureau of Statistics (NBS), the coordinating agency for Nigeria’s statistical system, reported on Thursday that the nation’s unemployment rate remarkably dropped from 33.1% reported in March 2021 to 4.1% for the first quarter of 2023. The statistics agency attributed the huge drop in the unemployment rate […]
The Lagos State Internal Revenue Service (LIRS) has restated its commitment to leverage cutting-edge technology and effective advocacy to significantly improve its internally generated revenue (IGR) in the state. The Executive Chairman of the Service, Mr. Ayodele Subair, made this disclosure during an interview on The Tax Talk, a newly launched 30-minute public enlightenment television […]
BudgIT, a civic-tech organization leading the advocacy for transparency, accountability, and effective service delivery in Nigeria has called for openness and accountability in the distribution of the N5 billion relief fund being disbursed by the Federal Government to state governments in order to achieve the goal of the intervention. It noted that the recent economic […]
Apparently miffed by the figures reeled out by JP Morgan, a U.S-based bank with global reputation, as representing Nigeria’s total foreign reserves, the Central Bank of Nigeria (CBN) has flawed the recent estimate of the US bank on Nigeria’s foreign exchange reserves, describing it as a misrepresentation of the actual value of the reserves. The […]
The Chairman of United Nigeria Airlines and spokesman of Airline Operators of Nigeria, Prof. Obiora Okonkwo on Wednesday solicited the support of the new Minister of Aviation, Barr. Festus Keyamo, in the area of sourcing foreign exchange (FX) needs of the operators to sustain their businesses and the sector’ contribution to the nation’s Gross Domestic […]
The Managing Director/Chief Executive Officer of Duport Midstream Company Limited, Dr. Akintoye Akindele, has opened up on a business dispute he had with the family of the late MKO Abiola, saying that insinuations that he engaged in fraudulent acts in the deal by his business rivals through cronies are unfounded and totally mischievous. Speaking on […]
…threatens to replace inactive contractors The Minister of Works, Engr. Dave Umahi, has directed Federal Government contractors with unused contract payments for jobs undone or any other reason to return such payments pending the time the affected contractors will be ready to move to site. The minister told the contractors that if for any reason […]
Despite efforts by the monetary authorities to ensure improved value for the Naira at the foreign exchange (FX) markets over the past weeks, the local currency fell as low as N925 against the dollar on Wednesday morning at the peer-to-peer (P2P) market, before moderating to the N905/$ levels at about the noon hours. The depreciation […]
Apparently concerned about the current scarcity of foreign exchange (FX) in the economy, the Nigerian Exchange Limited (NGX) is currently working on a proposal to allow dollar-denominated bond listings by investors on its platform. A news report from Bloomberg indicates that the new initiative is considered by the NGX authorities, which are also dollar-denominated stock […]
….Facilitates $1Bn Third-Party Investments The Nigeria Sovereign Investment Authority (NSIA) has disclosed that it committed $500 million to domestic infrastructure and enabled over $1 billion third-party investments in the country so far. The Managing Director/Chief Executive Officer of the Authority, Mr Aminu Umar-Sadiq, made this disclosure on Tuesday during an investigative hearing of the Ad-hoc […]