President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has expressed concern about the burgeoning debt ratio of most countries in Africa to their Gross Domestic Product (GDP) , describing the debt profiles as unsustainable. Adesina expressed his worries about the countries’ growing level of indebtedness at the launch of the African Economic Outlook […]
The Lagos Chamber of Commerce and Industry (LCCI) on Sunday canvassed the need for the Federal Government to create an independent dispute resolution framework to manage conflicts between the Nigeria Customs Service (NCS) and the business community. The Director-General of LCCI, Dr Muda Yusuf, in a statement maintained that the presidential intervention had become inevitable, […]
Nigeria’s total merchandise trade deficit last year worsened remarkably increasing to -N7. 37 trillion, as the COVID-19 pandemic negatively impacted across the broad spectrum of the economy, particularly the real sector. The latest ‘Foreign Trade in Goods Statistics (Q4 2020)’ report by the National Bureau of Statistics (NBS), indicated in the year under review, Nigeria’s […]
Key stakeholders in the nation’s fiscal system and investment space on Thursday advised the Federal Government to focus on raising bonds from the capital market as a means to financing revenue generating projects while working to reduce balance sheet borrowing. The advice was among other key resolutions reached at the Securities and Exchange Commission’s yearly […]
The Nigerian Stock Exchange (NSE) has secured the final approvals of the Securities and Exchange Commission (SEC) and Corporate Affairs Commission (CAC) for its demutualisation plan, thereby concluding the Plan’s processes which commenced about two years ago. With the approved demutualisation plan, the NSE has now transformed to a new non-operating holding company, the Nigerian […]
The House of Representatives has called on the Federal Government to rally States and Local Government Councils’ support for full implementation of the Contributory Pension Scheme ((CPS) in line with the National Pension Commission’s guidelines on the scheme. The call by the lawmakers was sequel to the deliberation on a motion titled ‘Full Implementation of […]
The African Tax Administration Forum (ATAF), an umbrella body for all tax administrators in Africa, has called on African leaders to discontinue all tax policies that impose unfair burdens on women who are financially stressed, denying them the opportunity to break out of the cycle of poverty and to contribute more constructively to wider economic […]
South-South Governors on Tuesday demanded the upward review from 2.5 per cent to 10 per cent, appropriated to the Trust Fund for host oil Communities in the Petroleum Industry Bill (PIB) now before the National Assembly. The Chairman of the South-South Forum and Delta State Governor, Dr Ifeanyi Okowa, was quoted by News Agency of […]
Oil prices sustained their upward swing on Monday while stock markets trade was mixed as investors weighed worries over high inflation against the reopening of virus-hit economies. A news report by AFP indicated that after Asian indices closed mostly lower, with sharp losses in Hong Kong and Shanghai, Europe pushed higher approaching the mid-way point. […]
In celebration of International Women’s Day and to mark the rollout of the Affirmative Finance Action for Women in Africa (AFAWA) Guarantee for Growth programme, the African Development Bank (AfDB) and the African Guarantee Fund (AGF) are showcasing the first beneficiaries of the AFAWA Guarantee for Growth programme. The programme is an innovation aiming to […]