Budgeting Economy News Extra Latest News Oil & Gas Revenue

Fuel Subsidy Hits N1.03Trn In 10 Months

The Nigerian National Petroleum Company (NNPC) Limited has reported that total payments on fuel subsidy in the 10-month period from January through October this year totalled N1.03 trillion. This is even as it stated that it would deduct N199 billion being October 2021 under-recovery from its November 2021 remittance to the Federation Account. The oil […]

Economy News Extra Latest News Manufacturing Privatisation & Commerce Statistics

Nigeria Records N3.023Trn Merchandize Trade Deficit In Q3, 2021

Despite the sustained recovery of Nigeria’s economy over the past few quarters, the nation still recorded a huge deficit in its merchandize trade in the third quarter of this year, posting a negative trade balance of N3,023.50 billion during the quarter. During the review period, the country’s total merchandize trade value totaled N13,284.09 billion, with […]

Budgeting Economy News Extra Investments/Capital Market Latest News

SEC Adopts Amendments to Finalize Rules On HFCAA Disclosure Requirements

The US Securities and Exchange Commission (SEC) has adopted amendments to finalize rules implementing the submission and disclosure requirements in the Holding Foreign Companies Accountable Act (HFCAA). A statement by the commission indicated that the rules apply to registrants the SEC identifies as having filed an annual report with an audit report issued by a […]

Economy News Extra Investments/Capital Market Latest News Technology

Technological Innovations Will Improve Market Efficiency- SEC DG

Director General of the Securities and Exchange Commission, Mr. Lamido Yuguda, has identified technological innovations as one of the factors that could enhance the efficiency and transparency of capital markets globally and enable financial intermediation, thereby making it easier for investors and market professionals to identify opportunities and conduct their businesses in a timely and […]

Budgeting Economy News Extra Fiscal Law & Act Latest News Revenue Taxation

Why Nigeria Didn’t Sign OECD Minimum Corporate Tax Pact – FIRS

The Federal Inland Revenue Service (FIRS) has explained why Nigeria did not sign the Organisation for Economic Cooperation and Development (OECD) G20 Inclusive Framework two-pillar solution to tax challenges of the digitalized economy. The OECD G20 Inclusive Framework two-pillar solution proposes a framework of rules aimed at tackling base erosion and profit shifting, and providing for […]

Budgeting Economy News Extra Latest News Oil & Gas Planning & Economic Development Political Economy

Subsidy Removal Desirable For Nigeria’s Sustainable Growth – Muda Yusuf

The Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Mr. Muda Yusuf, has given his support to the planned removal of fuel subsidy by the Federal Government from February 2022, saying the move is necessary for the nation’s economy to grow. The Minister of Finance, Budget and National Planning, Zainab Ahmed, had […]

Economy News Extra Latest News Planning & Economic Development Political Economy

Turkey Overtakes UK, Now Second-Fastest Growing Economy In OECD

A new report by the Organization for Economic Cooperation and Development (OECD) has placed Turkey ahead of the United Kingdom as the second-fastest growing economy in the third quarter of 2021. In the report published on Tuesday, Chile topped the OECD-countries’ growth chart, with the economy recording the highest gross domestic product (GDP) growth rate […]

Budgeting Economy News Extra Latest News Planning & Economic Development Statistics

German Inflation Hits 6.0% In November, Highest In Decades

German consumer price inflation rose further in November to hit another record high, thereby increasing pressure on the European Central Bank (ECB) to react. Preliminary data on the country’s inflation released on Monday by the Federal Statistics Office showed that Consumer prices, harmonised to make them comparable with inflation data from other European Union countries, […]

Economy News Extra Insurance & Pension Latest News

Moody’s Launches Asset-Liability Management Tool For Insurers

Moody’s Analytics has launched Risk Integrity Investment Insight, an asset-liability management (ALM) solution for risk underwriting companies. The new tool combines data and modeling capabilities from across Moody’s Analytics to help insurers build liability-aware investment portfolios and better evaluate their investment strategies across a range of business metrics. Commenting on the new risk management solution, […]