Budgeting Economy News Extra Latest News National Assembly Revenue Tax

Senate Urges Executive On Timely Submission of 2020 Appropriation Bill

The President of the Senate, Senator Ahmad Lawan said on Friday that the National Assembly was eager to receive the 2020 budget proposals to enable the legislature provide adequate time to work on the bill and pass it for enactment Lawan was quoted by his Special Adviser on Media, Mr. Ola Awoniyi, as making the […]

Banking Economy News Extra Latest News Political Economy Revenue Taxation

CBN Retains 13.5% MPR, Promises To Intensify Financial Inclusion Drive

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) rose from its two-day meeting in Abuja on Friday with a decision to retain all the key benchmark interest rates. Specifically, the committee retained the Monetary Policy Rate (MPR) at 13.5 percent and other lending rate indices, including the asymmetric corridor around the […]

Banking Economy News Extra Latest News Revenue

Again, Nigeria To Borrow $2.5Bn From World Bank

Fiscally challenged by dwindling revenue earnings as the volatility of the international oil market continued to great toll on revenue collections nine months into the 2019 financial year,  Nigeria is seeking the World Bank’s support through  concessionary lending of about $2.5 billion. The Bank’s Vice President for Africa Hafez Ghanem, who gave this hint in […]

Economy News Extra Latest News Oil & Gas Revenue

Oil Prices Hit Six-Month High As U.S Tightens Sanctions On Iran

Oil prices in the international oil market rose to near six-month highs on Tuesday as the United States tightened sanctions on Iran, thereby sending shares of energy companies higher and boosting currencies of several major crude producers. For instance, Brent crude oil futures rose 0.7 per cent to $74.57 per barrel by 0630 GMT, their highest since […]

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FG, Other Tiers Shared N1.92Trn In Q1, 2019 – NBS

The National Bureau of Statistics (NBS) has reported that a total sum of N1.92 trillion was disbursed by the Federation Account Allocation Committee (FAAC) to three tiers of government in first quarter of this year. The bureau, in its latest report on monthly disbursements to the tiers of government indicated in January, the Federal, State […]

Economy News Extra Latest News Revenue Transportation

Ministry Declares Revenue Collection On Federal Highways Illegal

The Federal Ministry of Transportation has said that revenue collection by state and local government agents along federal highways is illegal and called on the law enforcement agents to halt the practice. The position of the ministry on collection of revenues on federal highways, through erection of road blocks by the sub-national governments agents, was […]

Economy News Extra Latest News Revenue Transportation

LCCI Seeks Automotive Policy Review, Incentives For Local Automakers

The Lagos Chamber of Commerce and Industry (LCCI) has called on the government to consider immediate review of the nation’s Automotive Policy in view of its flaws that are not reflective of the current realities in the industry and attendant negative implications for the development of the local industry. The organized private sector (OPS) group […]