The Independent Petroleum Producers Group (IPPG) has called for a review of critical aspects of the Petroleum Industry Act (PIA) 2021 to strengthen the regulatory framework and competitiveness of the fiscal regime and by implication, attract more investments into the hydrocarbon resources industry. Specifically, the group believes that the amendment of some provisions of the […]
In furtherance of its sustained efforts towards improving the efficiency of the nation’s financial system and ensure that depositors’ interests are protected at all times, the Nigeria Deposit Insurance Corporation (NDIC) has reiterated its commitment to supporting the efforts of the Central Bank of Nigeria (CBN) for sustainable growth of the economy. The corporation’s Managing […]
The Federation Account Allocation Committee (FAAC) on Friday disclosed that it shared a total sum of N1,088.783 billion in November this year to the Federal, States and Local Government Councils. The committee gave these figures in a communique issued at the end of its December, 2023 meeting in Abuja. It stated that the N1,088.783 billion […]
As projected by many analysts and economic experts, Nigeria’s headline inflation rose to 28.20% in November this year, representing 0.87 % increase over the 27.33% recorded in the preceding month. The National Bureau of Statistics (NBS) on Friday in its ‘CPI and Inflation November 2023’ report published on its website indicated that on a month-on-month […]
The Nigeria Data Protection Commission (NDPC) has launched the Nigeria Data Protection Strategic Roadmap and Action Plan (NDP-SRAP 2023-2027). expected to create about 500,000 jobs and generate more than N125 billion in revenues. The launch of the five-pillar NDP-SRAP was held concurrently with a capacity-building workshop on Data Privacy and Protection for Data Protection Officers […]
The Central Bank of Nigeria (CBN) has ordered all licensed financial institutions in the country to display their corporate names conspicuously on all their websites, portals, and online applications. This directive, which was published on the apex bank’s website, is intended to guard against online fraud and boost consumer confidence. To ensure strict compliance with […]
The World Bank on Thursday announced that it had approved the Nigeria Distributed Access through Renewable Energy Scale-up (DARES) project, which is financed by an International Development Association (IDA) credit of $750 million and will leverage over $1 billion of private capital and significant parallel financing from development partners, including $100 million from the Global […]
Apparently convinced that the current reform efforts of the President Bola Tinubu-led administration would impact the nation’s socio-economic system positively in the months ahead, the Central Bank of Nigeria (CBN) has projected that the rising inflation and foreign exchange (FX) rates would decline in 2024. Similarly, the CBN also predicted that there would be less […]
Managing Director of International Monetary Fund (IMF), Kristalina Georgieva, has urged Central Banks globally against rushing to relax their current policy measures aimed at curbing surging inflation rates of the economies even with the Federal Reserve signalling its policy pivot next year. Georgieva, was quoted to have given the warning in a report by Bloomberg […]
The President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has again warned that the introduction of a carbon border tax by the European Union (EU) could push Africa back into exporting raw commodities and undermine its industrialisation gains. The European Union recently launched the initial phase of a Europe-wide carbon tax on imported goods […]