The Bank of Japan has ended eight years of negative interest rates and other remnants of its unorthodox policy, making a historic shift away from a focus of reflating growth with decades of massive monetary stimulus. News reports on the BoJ’s latest policy on Tuesday indicated that while the move was Japan’s first interest rate […]
The Centre for the Promotion of Private Enterprise (CPPE) has described the recent remarks on the floor of the House of Representatives on cement price which portrayed cement manufacturers in very bad light as not desirable and uncalled for in view of the prevailing economic whirlwinds in the economy. The Chief Executive Officer (CEO) of […]
The National Bureau of Statistics (NBS) reported on Friday that on the aggregate, Value Added Tax (VAT) collections in Nigeria increased to N1.20 trillion in the fourth quarter of 2023 (Q4 2023), showing a growth rate of 26.61% on a quarter-on-quarter basis from N948.07 billion raked in from the revenue source in Q3 2023. In […]
….Highest Rate In Over 30 Years Despite sustained policy measures by the Central Bank of Nigeria (CBN) to moderate the nation’s inflation rate, the general price level in the economy continues its upward trend, rising to 31.70% in February this year from the 29.90% recorded in the preceding month. The National Bureau of Statistics (NBS), […]
…As 49% Of Population Lives In Slums The President of African Development Bank (AfDB), Dr. Akinwumi Adesina, has charged the Nigerian government to urgently introduce welfarist policies needed to ensure all Nigerians have access to basic and affordable housing. Adesina, who gave the charge in his lecture at the occasion where he was honoured with […]
In furtherance of its sustained drive to digitalize revenue collections at the federal level, the Federal Inland Revenue Service (FIRS) has introduced a self-registration module on the Tax-Pro Max platform. The revenue agency, in a public notice signed by its Executive Chairman, Dr. Zacch Adedeji, indicated that the initiative was part of reforms towards improving […]
The Centre for the Promotion of Private Enterprise (CPPE) commends President Bola Tinubu, the Coordinating Minister for the Economy, the Minister of Industry, Trade and Investment and the Minister of Interior for suspending the implementation of the contentious EEL. The Centre, in a statement by its Chief Executive Officer, Dr. Muda Yusuf, described the gesture […]
Despite sustained efforts by West African governments to introduce a single currency for cross-border transactions in the sub-region, indications have shown that the quest for a single currency regime by them is becoming a herculean task in terms of performance assessment. The West African Monetary Zone (WAMZ) Director- General, Dr. Olorunsola Olowofeso, on Friday expressed […]
Nigeria’s House of Representatives has passed the second reading of the Bill on National Tax Crimes and Oversight Commission. The Green Chamber passed the Bill on Wednesday after its lead sponsor, Hon. Benjamin Kalu, outlined its main objectives during the plenary session. Joined by eight other lawmakers during the presentation of the draft legislation, the […]
The International Monetary Fund (IMF) has warned that price caps on fuel and electricity tariffs below the cost recovery could result to a fiscal cost amounting to 3% of Nigeria’s Gross Domestic Product (GDP) in 2024. The warning was given by the staff of the Fund in their report on completion of their mission to […]