In a move to promote a more equitable global taxation system, Nigeria called upon Member States to endorse a proposed resolution on a Tax Convention. The statement was released by the Permanent Mission of Nigeria to the United Nations in New York, emphasising the need for continued support for a comprehensive UN Tax Convention. During Read More…
Nigeria has unveiled stricter licencing regulations for foreign mining companies, aimed at compelling them to enhance in-country processing and refining of metals such as lithium and zinc, according to the Minister of Mines, Dele Alake. Speaking at a Nigeria Mining Week event in the capital city of Abuja, Alake disclosed the government’s new policy, requiring Read More…
The National Agency for Food and Drug Administration and Control (NAFDAC) has announced its intention to revise sanctions for exporters of substandard products. Prof. Mojisola Adeyeye, Director-General of NAFDAC, conveyed this decision during a press conference on Tuesday. She expressed her dismay at the high rate of substandard goods being rejected in foreign countries and Read More…
Vice President Kashim Shettima has lauded the BudgIT Foundation Nigeria for its exemplary work in budget tracking and advocating transparency, stating that their report will establish a new benchmark for responsibility and accountability in the country’s public finance. Shettima, represented by his Special Adviser on Economic Affairs, Dr. Tope Fasua, made these remarks during the Read More…
The Lagos State Governor, Mr. Babajide Sanwo-Olu, has revealed plans for the inauguration of the first phase of the largest food logistics hub in West Africa in 2024. This ambitious initiative aims to significantly enhance food security within the state. Governor Sanwo-Olu made this announcement during a press conference held at the conclusion of the Read More…
The Federal Government of Nigeria has put forth a proposed budget of N26.01 trillion for the year 2024. This budget is predicated on an oil price benchmark of $73.96 and an interest rate of 21 per cent. At the conclusion of the Federal Executive Council (FEC) meeting on Monday in Abuja, Minister of Budget and Read More…
Nigeria, the most populous nation on the African continent and an economic powerhouse is currently in the throes of a severe cost-of-living crisis that has profound implications not only for its people but also for its economic landscape. This crisis has emerged as a potent confluence of both domestic and international factors, creating a formidable Read More…
Nigerian interest payments, along with those in many other sub-Saharan African countries, have been on an alarming rise. This surge in interest payments has outpaced critical areas of public spending, including health, education, and investment. As a result, the International Monetary Fund (IMF) has issued a strong call for African policymakers to undertake significant fiscal Read More…
The Nigerian state oil company, NNPC, has transitioned from oil swaps to cash tenders for gasoline procurement for the first time in nearly a decade, according to four reliable sources cited by Reuters. NNPC recently closed its latest tender for petroleum set for delivery in November, and two of these sources have indicated that the Read More…
MediaTek, the global fabless semiconductor giant responsible for powering nearly two billion connected devices annually, has unveiled a strategic partnership with Airtel Nigeria, a telecommunications leader, aimed at enhancing mobile connectivity across Nigeria. Rami Osman, Director of Corporate Sales and Marketing for MediaTek Middle East and Africa, made this announcement during a virtual media briefing Read More…
