By PATIENCE ALIYU PLATEAU State Government on Monday enjoined residents to pay their taxes regularly so that the government can embark on projects to make life more comfortable for them. Governor Caleb Mutfwang gave the advice in Jos, during a summit on the Administration of Property and Land Related Taxes organised by the State’s Internal […]
By RUKAYAT MOISEMBE THE Manufacturers Association of Nigeria (MAN) on Monday kicked against the reintroduction of the four per cent Free on Board (FOB) charge by the Nigeria Customs Service, which took effect on 4 August. Mr. Segun Ajayi-Kadri, the Director-General of MAN, said in Lagos that the move contradicts the government’s widely publicised suspension […]
SOME domestic airlines have raised ticket prices to the South-East and South-South regions by 131 per cent ahead of the Yuletide. The price adjustments, which usually take effect mostly from 1 December, come four months to the Christmas and New Year season, when airlines usually experience higher demand. Findings showed that Nigeria’s largest airline, Air […]
DIFFERENT banks charges like 3.5 per cent Handing Fee, 1 per cent NIMASA Admin Fee and 1 per cent NIMASA Monitoring Fee are currently threatening to stop many indigenous ship-owners from accessing the $700 million Cabotage Vessel Financing Fund (CVFF). Disclosing this, a senior member of the Nigeria Shipowners Association (NISA) and former President of […]
By BAMIDELE OGUNWUSI …Experts Worry Over Reduced Investment, Increased Unemployment NIGERIA’S fragile economic recovery could face new headwinds if the slowdown in private sector credit growth persists, economists have warned. They say the recent deceleration in bank lending to businesses and households poses risks to investment, consumption, and overall GDP expansion at a time when […]
By SOLA SHITTU WHEN President Bola Tinubu’s administration announced the approval of a staggering ₦4 trillion debt refinancing package for the power sector last week, it was framed as a bold effort to stabilize a struggling industry. The debts owed to generation companies (GenCos) between 2015 and 2023 had long threatened the survival of operators […]
By JOSEPH CHIBUEZE THE Federal Government has unveiled a new strategy it hopes will help it better manage its public debts. The new strategy, the Medium-Term Debt Management Strategy (MTDS) 2024-2027 succeeds the elapsed MTDS 2020-2023. MTDS is a Public Debt Management (PDM) tool that links borrowing with the macroeconomic framework of a country to […]
FRESH details have emerged on the official earnings of Nigeria’s top political office holders, following data released by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) and corroborated by other government sources. The figures, which cover salaries and allowances for key executive, legislative, and judicial officials, provide insights into the cost of governance in Africa’s […]
THE Federal Government is currently discussing a loan funding of $238 million from the Japan International Cooperation Agency (JICA) to expand Nigeria’s national electricity grid network, especially the transmission segment of the power value chain. This was part of the outcome of deliberations at the just-concluded Ninth Tokyo International Conference on African Development (TICAD 9) […]
DESPITE multibillion-dollar investments in rice mills to boost local processing and production, many mills are closing or producing below capacity due to many reasons, as revealed in this piece. The Nigerian rice economy was worth an estimated ₦2.5 trillion in 2018, growing from ₦1.1 trillion in 2016, according to KPMG market analysis. According to the […]