Business Economy Oil & Gas Top Story

Akinwumi Adesina calls Dangote refinery ‘game-changing initiative’

Reading Time: 2 minutes Image Credits: AfDB. The African Development Bank President (AfDB), Dr. Akinwumi Adesina, has described the $19.5 billion Dangote oil refinery and petrochemical plant projects as a “game-changing initiative” that will spur Africa’s development and deepen regional integration, while on a tour on Saturday of the partially bank-funded project. The complex will create 38,000 jobs during Read More…

Business Economy Metro Top Story

Sanwo-Olu harps on regional integration for socio-economic propserity

Reading Time: 4 minutes Lagos State Governor, Mr. Babajide Sanwo-Olu, has stated that unlocking the potential of the Southwest would depend on the commitment of regional governments to stronger alliances and exploration of evidence-driven solutions for sustainable development. Speaking at the two-day Southwest Investment Promotion Agencies Conference (IPAC-1) in Ikeja, the Governor explained that the forum was informed by Read More…

Abroad Africa Business Economy Top Story

Pan-African Payment Settlement Systems (PAPSS) makes commercial debut

Reading Time: 3 minutes A pan-African payment platform was inaugurated on Thursday by the trio of the African Union, African Export-Import Bank (Afreximbank) and the African Continental Free Trade Area (AfCFTA) secretariat. Known as the Pan-African Payment and Settlement System (PAPSS), it is a cross-border, financial market platform that enables payment transactions across Africa. It is hoped that it Read More…

Business Economy Top Story

W/Bank projects Nigeria’s growth to strengthen by 2.5% in 2022

Reading Time: 4 minutes As the global economy enters a pronounced slowdown amid fresh threats from COVID-19 variants and others, Nigeria’s growth is projected to strengthen to 2.5 per cent in 2022 and 2.8 per cent in 2023. The World Bank said this in Washington at the presentation of its January 2022 Global Economic Prospects report. According to it, Read More…

Business Economy Top Story

Inflation down to lowest in more than five years in November

Reading Time: 2 minutes Image Credits: NBS. It is still double-digit inflation but in November, Nigeria experienced its lowest inflation climb in more than five years. In November, eased by 0.59 percentage points to 15.40% in November. According to Simon Harry of the Nigerian Bureau of Statistics (NBS), “Inflation has continued its declining trend.” Last month, Finance Minister Zainab Read More…

Business Economy Metro Top Story

VAT dispute is about fiscal federalism, says Omotoso

Reading Time: 3 minutes Open-grazing Act not intended as punishment Opponents of States’ collection of Value Added Tax, VAT, have got a reply. It will not impoverish other States and make collection cumbersome, Commissioner for Information and Strategy, Mr. Gbenga Omotoso has said. He gave this assurance while speaking today on “Your View”, a TVC current affairs programme. His Read More…

Business Economy Legal Metro Top Story

Lagos State to wait in application to join VAT appeal

Reading Time: 3 minutes The ruling has been reserved by the Abuja Division of the Court of Appeal on the application filed by Lagos State Government seeking to join an appeal by the Federal Inland Revenue Service, (FIRS) challenging the judgement of a Port Harcourt Federal High Court. On 9th August 2021, the Federal High Court had declared that Read More…

Business Economy Top Story

Fitch upgrades Lagos ratings to AAA, attests to its good standing and resilience

Reading Time: 2 minutes Fitch Ratings, an Internationally renowned rating agency, in its recent publication outlining the standing of the State has upgraded Lagos State ratings from AA+ (nga) to AAA(nga) for its good standing in terms of its debt sustainability, and resilience. Communicating the development to the Honourable Commissioner for Finance, Dr. Rabiu Olowo, FitchRatings said the feat Read More…

Business Economy Legal National Top Story

Citizen drags CBN, Emefiele to Court for incompetence, illegality

Reading Time: 3 minutes In what can be termed a peculiar legal case, an Abuja-based businessman, Sesugh Akume, has filed a suit at the Federal High Court, Abuja, asking the court to determine whether the Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele and the apex bank itself, have not been grossly incompetent by failing to provide price Read More…

Business Economy Top Story

Lagos, Belgium to expand bilateral ties, explore investment opportunities

Reading Time: 3 minutes Image Credits: LASG. In picture above: Belgium Ambassador to Nigeria, Mr. Daniel Bertrand, Lagos State Commissioner for Economic Planning and Budget, Mr. Sam Egube and Deputy Head of Mission, Embassy of Belgium in Nigeria, Mr. Stef Commers during the Ambassador’s courtesy visit to the Ministry of Economic Planning and Budget on Tuesday. The Lagos State Read More…