•Oil sector contribution worsens By Babajide Komolafe THE National Bureau of Statistics, NBS, has said that the nation’s economy as measured by the   Gross Domestic Product, GDP, grew   by 3.11%, year on year, YoY, in the first quarter of the year (Q1’22), from 0.51% recorded in the corresponding period in 2021 (Q1’21). The Q1’22 growth […]

By Elizabeth Adegbesan Net foreign exchange (forex) inflow into the economy fell year-on-year (YoY) by 62 per cent to $950 million in January 2022 from $2.5 billion in the corresponding period of 2021. This is even as the Central Bank of Nigeria (CBN) said it sold $720 million forex through the Investors and Exporters (I&E) and […]

By Obas Esiedesa THE Nigerian Electricity Regulatory Commission, NERC, yesterday commenced another review of electricity tariff even as poor supply persists across the country. The Commission disclosed this in a notice of minor review of the Multi Year Tariff Order (MYTO), contained in a statement titled, “Notice of Compliance in Respect of the Biannual Review […]

By Godfrey Bivbere In a bid to deepen the channel leading to Warri port hitherto hindered by Nigerian National Petroleum Corporation, NNPC pipeline, the Nigerian Ports Authority, NPA said discussion is at an advanced stage with the corporation for the relaying of its pipeline from the present 7.5 meters to about 14 meters. Managing Director […]

By Nkiruka Nnorom A new study by Landing Jobs, a tech careers start-up, has shown that technology-based remote jobs pay more than onsite jobs. The report titled, “Global Tech Talent Trends” , the largest community-based tech talent report, found that the world has become almost borderless when it comes to looking for new tech jobs, […]

…as earnings from fees, commission rise 48% By Elizabeth Adegbesan Customers of leading commercial banks in Nigeria paid N25.1 billion as account maintenance fee in the first quarter of this year (Q1’22). This represents a 17 percent year-on-year (YoY) increase when compared to N21.4 billion the customers of those banks paid in corresponding period of […]

By Dele Sobowale “Planning is a process by which you continuously create your own future.”Roger Fritz, in Entrepreneur 1996. Every serious plan should have at least one goal in mind. A National Development Plan, NDP, ideally sets many development goals at once. It is always best if the goals are all very complimentary. Albert Einstein, […]

By Nkiruka Nnorom On the backdrop of billions of Naira lost annually by the government to tax evasion and avoidance, a financial expert, Mr. Timothy Oguntayo, has indicated that proper financial advisory and tax planning are necessary tools to combat the growing list of tax problems in the country. Oguntayo, who was the former Chief […]

By Obas Esiedesa, Abuja The Federal Government is working on the beneficial ownership register that would see an end to secrete ownership of companies in Nigeria. The Minister of State Budget and National Planning, Prince Clem Agba, disclosed this yesterday in Abuja when he received a team from the Nigeria Extractive Industries Transparency Initiative (NEITI), […]

By Elizabeth Adegbesan Analysts in the financial sector have projected further inflationary pressure in the coming months, even as inflation maintained an uptrend for the third consecutive month in April to 16.82 per cent. They cited the sustained pressure on food prices and energy costs on the back of the Ukraine-Russia conflict. In its Consumer […]