The Federal Inland Revenue Service (FIRS) has introduced a significant measure, approving amnesty on penalties and interests linked to outstanding tax liabilities, as confirmed by the Chairman of FIRS, Zacch Adedeji, in a statement issued on Sunday in Abuja. Recognising the financial challenges faced by taxpayers in fulfilling their tax obligations, the FIRS has opted Read More…
Finance Minister Olawale Edun announced the Federal Executive Council’s (FEC) approval of a $1 billion concessional loan from the African Development Bank (AfDB) aimed at bolstering the budget and enhancing foreign exchange reserves. Edun revealed the loan details, citing a 4.2% interest rate over 25 years with an eight-year moratorium, following a cabinet meeting in Read More…
His Royal Majesty, Omonoba N’Edo Uku Akpolokpolo Ewuare II, the Oba of Benin, stressed Nigeria’s diversity and unity during his visit to Governor Babajide Sanwo-Olu at the Lagos House, Marina. The Oba highlighted how Nigeria’s diversity and unity define the nation’s stature as a giant in Africa. He emphasised the importance of unity, urging Nigerians Read More…
The Lagos State Government has highlighted its newly introduced electricity cooperative model as a potential remedy for the country’s struggling energy sector, specifically within the state. Mrs. Folashade Ambrose-Medebem, the Commissioner for Commerce, Cooperatives, Trade & Investment, addressed this pivotal initiative during a one-day inaugural symposium held in Lagos. The symposium, themed “Venturing into Power Read More…
The Minister of Marine & Blue Economy, Mr. Adegboyega Oyetola, has called upon heads of agencies within the ministry to diligently pursue the objectives outlined in the Performance Bond he signed with President Bola Tinubu. In a statement released in Lagos on Wednesday, Oyetola emphasised the significance of executing the performance bond, alongside completing vital Read More…
In Berlin, Nigerian and German firms have solidified their economic partnership by signing two significant agreements, announced a presidential spokesperson. The deals encompass a substantial $500 million renewable energy pact and a gas export arrangement, marking a pivotal step in bolstering ties between the nations. Union Bank of Nigeria and Germany’s DWS Group sealed a Read More…
The House of Representatives has greenlit the medium-term expenditure framework for 2024-2026, a critical set of assumptions shaping the country’s upcoming budgets. The outlined projections, ratified by President Bola Tinubu’s cabinet before reaching the National Assembly, anticipate the naira to hover around 700 Naira per dollar in 2024, gradually strengthening in the subsequent years. The Read More…
In a recent statement, Mr. Soji Oye, Director of Information of the National Judicial Council (NJC), refuted claims circulating on social media alleging that the Council received a nomination list for Supreme Court vacancies from the Federal Judicial Service Commission (FJSC). He clarified this misinformation in Abuja on Sunday, asserting that he never discussed with Read More…
United Nations Resident and Humanitarian Coordinator in Nigeria, Matthias Schmale, emphasised the imperative need for continuous backing to address the escalating humanitarian crisis in northeast Nigeria. Speaking at a news conference in New York, Schmale stressed, “We are part of the global trend in Nigeria of increasing humanitarian needs, with funding not holding up to Read More…
During the Chartered Institute of Directors Nigeria (CIoD) Annual Directors Conference in Abuja, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, highlighted President Bola Tinubu’s empathetic stance and dedication to minimizing the hardships arising from economic reforms for Nigerians. Edun assured that these reforms, despite their necessity, would take time before Read More…
