Business Oil & Gas

Resuscitate refineries to boost economy, ex-CBN director urges FG

Reading Time: < 1 minute Image Credits: REUTERS/Yaw Bibini. Sango-Ota (Ogun), Jan. 7, 2022 (NAN) A former Director of Central Bank of Nigeria (CBN), Dr Titus Okunroumu, has called on the Federal Government to intensify efforts at resuscitating the nation’s refineries to boost the economy. Okunroumu told the News Agency of Nigeria (NAN) on Friday in Sang-Ota, Ogun, that most Read More…

Business Taxes & Duties Top Story

Manufacturers kick as FG imposes 10% excise tax to fight diabetes

Reading Time: 3 minutes Nigerians will be paying a lot more for their fizzy drinks. This is because there is a new policy on sugar control, and because the Federal Government is increasing its revenue base to include more non-oil products. Mrs Zainab Ahmed, the Nigerian Minister of Finance, Budget and National Planning, said the Federal Government has introduced Read More…

Business Taxes & Duties Top Story

Google, Apple, Facebook, Twitter, other non-resident digital companies to be taxed 6% VAT?

Reading Time: 2 minutes Image Credits: FT. Unless our summations are wrong, the Federal Government may impose a six-per cent tax on turnover of non-resident blue-chip digital companies who sell products to Nigerian residents. These may affect companies such as Alphabet (owners of Google), Apple inc., Meta (owners of Facebook), Twitter, and PayPal who render online services to Nigerian Read More…

Business Oil & Gas Top Story

Nigeria still lagging in oil production capacity as OPEC+ agrees oil output increase from February

Reading Time: 2 minutes Image Credits: REUTERS/Dado Ruvic. Even with Nigeria struggling to recover from its oil production incapacities, OPEC+ agreed on Tuesday to stick to its planned increase in oil output for February. This is because it expects the Omicron coronavirus variant to have a short-lived impact on global energy demand. The group of producers comprising the Organization 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…

Africa Business COVID19 Health

African PR practitioners condemn travel ban on African countries

Reading Time: 2 minutes African public relations practitioners have lent their voices to the cry against the travel ban on African countries as a result of the onset of the Omicron variant of the COVID-19 virus. The PR practitioners under the aegis of the African Public Relations Association (APRA) aligned with the position of African Development Bank President, Dr. Read More…

Business Industry Top Story Trade

Ikorodu business holds maiden trade fair with great expectations

Reading Time: 2 minutes Ikorodu business is alive and wants the whole world to know. After all, it has been home to many industries both large and small, including Ragolis, the table water enterprise. Now, the Ikorodu Chamber of Commerce and Industry (ICCI) is organising its maiden trade fair, ”Ikorodu Division Expo (IKODIV Expo 2021), to explore business opportunities Read More…

Business Telecommunications Top Story

MTN and Airtel Africa among bidders for Nigerian 5G licences

Reading Time: 2 minutes Nigeria’s telecoms regulator, Nigerian Communications Commission (NCC) has picked MTN Nigeria, Airtel Africa. and Mafab Communications to bid for 5G licences at an auction set for Dec. 13, it said on Thursday. NCC had said in July that it expected to start auctioning spectrum for the next-generation 5G network in the fourth quarter of this Read More…

Aviation Business National Top Story

Nigeria to launch new national airline by April, says Sirika

Reading Time: 2 minutes Image Credits: International Maritime Organization. The Muhammadu Buhari administration will not leave in 2023 without establishing a new national airline. The timing is even closer. In spite of the numerous hiccups which have bedevilled its launch in the past, the Nigerian government says it will launch a new national airline by April. When it does Read More…

Business Metro Planning Top Story

It’s a green ‘budget of consolidation’ as Sanwo-Olu proposes a spending bill of N1.4trn

Reading Time: 4 minutes Perhaps in going with the momentum of COP26, Lagos State intends to spend 10 per cent of its earmarked N1.38 trillion in 2022 on green investment in the environment, social protection, housing and community amenities. In the main, Lagos State has earmarked a huge capital expenditure of N823billion representing almost 60 per cent of the Read More…