Nigeria will need 15 years to transform economy – World Bank VP
The World Bank says that Nigeria must sustain its current economic reforms over the next 10 to 15 years to position itself as a leading global economic power, not only in sub-Saharan Africa but worldwide.
Bus driver, ICT expert, 2 others emerge millionaires in Trophy Promo
ECONOMY The Trophy Lager Beer Promo tagged ‘Honourable To’ Gba’yi’ which kicked off a couple of weeks ago has recorded four more millionaires after 29-year photographer, Oluwatobi John emerged the first N1 million winner of the campaign. Olashinle Adeleke, a Lagos resident, Ijebu Ode based Abdul Okunade as well as Chidozie Anyanwu and Endurance […]
LCCI calls for policy to encourage FX inflow
By Nkiruka Nnorom ECONOMY The Lagos Chamber of Commerce of Industry, LCCI, has lamented the continued liquidity crisis in the Foreign Exchange (forex) market and its impact on businesses, saying that it is worsening the rate of divestment in the country. Mr. Muda Yusuf, Director-General, LCCI, stated this yesterday at a webinar tagged: “The Naira […]
AfCFTA: MAN seeks SON’s positioning at borders
ECONOMY By Yinka Kolawole The Kano branch of Manufacturers facturers Association of Nigeria (MAN) has called for Standards Organisation of Nigeria (SON) to be properly positioned at the nation’s entry points following the commencement of the implementation of the African Continental Free Trade Area (AfCFTA) agreement. National Vice President, North West Zone, MAN, Alhaji Ali Madugu, […]
Nigeria lost N5.4trn to tax evasion by multi-nationals — FIRS boss
·Moves against illicit financial outflow Emma Ujah, Abuja Bureau Chief ECONOMY Nigeria may have lost about $178billion (about N5.4 billion) to tax evasion by multi-nationals in ten years. Consequently, the Executive Chairman, Federal Inland Revenue Service (FIRS) has resolve to moved against illicit financial outflow from the country and enforce tax compliance among multi-nationals operating […]
FG lacks clear policy on downstream deregulation — Ex-SPE Chair
ECONOMY By Obas Esiedesa FOLLOWING fears that Nigeria may have returned to the era of petrol subsidy payment, the Federal Government has been accused of lacking policy clarity in the deregulation of the downstream sector of the petroleum industry. The immediate past Chairman of the Society of Petroleum Engineers, SPE Council Nigeria, Engr. Joe Nwakwue, […]
Customs revenue rises 16% to N1.6trn, surpasses target by 13%
Against the backdrop of over one year shutdown of Nigeria’s land borders, the Nigeria Customs Service (NCS) has overshot its revenue target by 13.2 percent in 2020 while surpassing the 2019 performance by 16.4 percent.
ABCON highlights steps to rejuvenate Nigeria’s real sector
ECONOMY By Providence Adeyinka President of the Association of Bureaux De Change Operators of Nigeria, ABCON, Alhaji Aminu Gwadabe, has highlighted steps to achieve a virile real sector growth in Nigeria. He said that the Nigerian business environment is becoming more hostile and unbearable, adding that the adverse business environment is being compounded by the […]
Nigeria’s terms of trade dip 2.13% in Q3 2020
Commodity imports up 1.9%, exports down 0.3% By Yinka Kolawole & Emmanuel Elebeke ECONOMY The National Bureau of Statistics (NBS) has reported that Nigeria’s terms of trade (ToT) decreased by 2.13 percent in the third quarter of 2020 (Q3 2020). NBS noted in its quarterly report on Commodity Price Indices and Terms of Trade (Q3 […]
9mobile to leverage tech, innovation for improved enterprise support
This reassurance was given during 9mobile’s Enterprise Customer forum 2020 in Port Harcourt recently. The Forum is designed to appreciate customers for their loyalty while receiving their feedback for better service response.
Exchange rate pushed inflation to double digits – Manufacturers
Chairman, Manufacturers Association of Nigeria, MAN, Apapa Branch, Engr. Frank Onyebu, has said that the persistent double digit inflation rate in the economy was occasioned by up-surge in exchange rates.
