Delta State House of Assembly, on Thursday passed the 2024 Appropriation Bill of N724.9 billion about a fortnight after the state governor, Sheriff Oborevwori, laid it before the lawmakers for its passage. The passage of the Appropriation Bill followed the adoption of the report of the House Committee on Finance and Appropriation during plenary in […]
The Organization of Petroleum Exporting Countries (OPEC) has retained its oil market forecast in 2023 for 2024 amid forecasts by analysts of bright economic outlook. In its Monthly Oil Market Report (MOMR) released on Wednesday, the oil cartel maintained that for 2024, world oil demand would grow at 2.2 million barrels per day (b/pd), for […]
President Bola Tinubu has replaced five Managing Directors and Directors-General of parastatals in the Ministry of Aviation and Aerospace Development. The President also suspended the Director-General of Nigeria Civil Aviation Authority, Capt. Musa Shuaibu Nuhu, to enable him face an “unfettered investigation” by the Economic and Financial Crimes Commission. The changes in the leadership positions […]
The World Bank has advised the Federal Government that to reap the benefits of the bold reforms and difficult but necessary economic adjustments currently being implemented by it, it is essential for it to sustain and fully implement the reforms and take complementary actions. The development finance institution in its December 2023 edition of the […]
BudgIT, one of the frontiline civic society organisations promoting transparency, accountability and effective service delivery in Nigeria, has raised some concerns over the proposed 2024 Appropriation Bill now before the National Assembly. In a statement issued by the organization on its observations in the fiscal document, it lamented that the President Bola Tinubu’s administration had […]
The Nigeria Sovereign Investment Authority (NSIA) has announced the formal handover of the Second Niger Bridge to the Federal Government following its completion. The Second Niger Bridge, linking South-Eastern Nigeria to other regions, was implemented through the Presidential Infrastructure Development Fund (PIDF), with NSIA acting as both Fund and Project Manager. The scope of the […]
….As VAT Accruals Rise By 51.60% Revenue generation data just published by the National Bureau of Statistics (NBS) reflected that despite the lingering headwinds in the economy, revenues from Company Income Tax (CIT) and the consumption tax – Value Added Tax (VAT) – surged in the third quarter of this year compared to what was […]
Katsina State Government has waived the payment of Right of Way (RoW) charges earlier imposed on telecom operators by it. Mr Ibrahim Kaula, the Chief Press Secretary to the Katsina State Governor, Dikko Radda, announced the fiscal relief for the telcos. The RoW charge, which the telcos had complained about, is the levy imposed by […]
Aspen Insurance Holdings Limited, the Bermuda-based insurer and reinsurer, has confirmed that it is mulling an initial public offering (IPO) of its ordinary shares in 2024, subject to satisfactory market conditions. A news report from Reinsurance News, an industry-focused online medium, on Monday indicated the announcement from the risk underwriting firm confirmed a previous report […]
The Central Bank of Nigeria (CBN) has extended the timeline for the issuance of Letters of Credit from 24 hours to five working days as foreign exchange (FX) scarcity continues to constrain business activities nationwide Also, the apex bank extended the timeline for the registration of Form M and NXP from 24 hours to two […]