The Lagos Chamber of Commerce and Industry (LCCI) has called on President Tinubu-led administration to urgently embark on institutional reforms to complement its ongoing initiatives targeted at sustaining the nation’s economic growth. The President of the organized private sector (OPS) group, Dr. Michael Olawale-Cole, made the call at the end of the 2023 Mid-Year Economic […]
Tag: Techno-Biz
FIRS Orders Foreign Shipping Lines To Regularize Tax Filing
…..to sanction erring firms The Federal Inland Revenue Service (FIRS) has ordered all shipping companies operating in Nigeria’s territorial waters to regularize their outstanding tax returns obligation before 31st December 2023 or face sanctions. The Service, in a public Notice signed by its Executive Chairman, Muhammad Nami, indicated that the directive was sequel to […]
NCDMB To Launch 17 Technology Incubation Centre-Trained Firms
The Nigerian Content Development and Monitoring Board (NCDMB) in partnership with Founder Institute (FI) has unveiled its plans to launch new 17 portfolio companies that have been trained in its Technology Incubation and Innovation Centre (TIIC) Information from the Board indicated that the launch of the companies would hold this Thursday at the Nigerian Content […]
NASENI Boss Parleys Czech’s Envoy On Resuscitation Of Delta-2 Project
The National Agency for Science and Engineering Infrastructure (NASENI) has opened discussions with Czech Republic’s Ambassador to Nigeria, Mr. Zdeněk Krejčí, to secure support for its efforts aimed at resuscitating the Delta-2 project. The project is a technology transfer programme between Nigeria and the Czech Republic, which commenced in 2020 but the implementation could not […]
Fuel Subsidy Hardships’ Mitigation Requires Long-Term Measures – Analysts
Economic researchers at the Centre for the Study of Economies of Africa (CSEA), one of the leading economic research and consulting services firm with focus on developments in African economies, has advised the Federal Government to adopt short and long-terms measures to mitigate the impact of the recent fuel subsidy removal policy on ordinary Nigerians. […]
MAN Decries Worsening Tax Burden On Manufacturers
….lists measures to improve fiscal efficiency The Manufacturers Association of Nigeria (MAN) has bemoaned the Federal Government’s excessive and multiple taxes imposed on manufacturers in its efforts to boost non-oil revenue for debt repayment, describing the fiscal measure as undesirable for economic growth. The umbrella body of real sector players in the nation’s economy […]
CBN Restores FX Supply To BDCs With Stringent Compliance Guidelines
After about two years of suspending foreign exchange (FX) supply to Bureau De Change (BDC) operators in the country, the Central Bank of Nigeria (CBN) has announced the restoration of FX supply to the unofficial market dealers as part of its efforts to achieve improved efficiency of FX markets and stabilize the Naira exchange rate. […]
Nigeria Ranks 18th In GDP Per Capita In Africa
The Federal Government’s reformative moves to boost performance of the nation’s economy appears to be yielding no tangible results as the latest report by the World Bank Group on the African economy reflected that the country recorded an estimated GDP of $477.4 billion in 2022, which positioned it at 18th position on the continental ranking […]
Nigerian Banks Lose N9.5bn To E-Frauds In 7 Months
The Nigeria Electronic Fraud Forum reported on Friday that Nigerian banking industry lost about N9.5 billion to electronic frauds in 2023, indicating that the digital infrastructure in the financial system are still subject to manipulation by cyber criminals. Worried by the negative implications of the surging rat of e-fraud for the economy, the Forum has […]
FG Allocates N5Bn Subsidy Palliative To Each State, FCT
The Federal Government on Thursday allocated N5 billion to each state of the federation and the FCT as palliatives to cushion the effects of the removal of petrol subsidy. The Governor of Borno State, Babagana Zulum, disclosed this during a National Economic Council (NEC) meeting held on Thursday in Abuja. The FEC meeting membership, which […]