Category: Economy
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GMD makes shocking revelation on Dollar-Naira exchange rate
Mr Lai Omotola, the Group Managing Director (GMD) and Chief Executive Officer (CEO) of Confederated Facilitators Limited (CFL) Group of companies, has made a shocking revelation on the prevailing Naira-Dollar exchange rate.
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Nigeria targets tax cut with major reforms to boost efficiency
The Presidential Committee on Tax Reforms and Fiscal Policy says it is determined to simplify the excessive number of collectable taxes and levies, currently exceeding 60, aiming to reduce them to fewer than 10 at all levels of government. Chairman of the Committee, Taiwo Oyedele, made this known when he addressed State House Correspondents on…
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How 36 States, FCT generated N1.9 trillion IGR in 2022
The National Bureau of Statistics (NBS) said the 36 states and the Federal Capital Territory (FCT) recorded a 1.6 per cent year-on-year growth in Internally Generated Revenue, IGR, to N1.92 trillion in 2022 from N1.89 trillion in 2021.
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Nigeria’s daily petrol consumption drops by 33.58%
Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), says the country’s domestic consumption for petrol has significantly dropped from 66.7 million liters, before the deregulation, to 44.3 million liters per day.
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How to reset Nigeria’s economy – Lamido Sanusi
Sanusi Lamido Sanusi, the 14th Emir of Kano and former Governor of Central Bank of Nigeria (CBN) has proffered solutions on how to reset the Nigerian economy.
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Era of exporting crude minerals from Nigeria over – Tinubu
The era of exporting raw gold, lithium and other crude mineral resources from Nigeria is gone for good, President Bola Ahmed Tinubu said yesterday.
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Nigeria’s inflation rate hits 26.72%
The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate increased to 26.72 per cent in September 2023.
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Nigerian Businesses and Consumers Unite Against IMF’s Tax Proposal: Seeking Economic Reform for a Prosperous Future
The International Monetary Fund’s recent proposal to the Nigerian government, suggesting tax hikes as a means to finance the national budget and pay off public debts, has sent shockwaves through the Nigerian business community
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Why foreign investors should turn to Nigeria – VFD GMD
Mr Nonso Okpala, the Group Managing Director of VFD Group, an investment firm that focuses in the real sector, says the company plans to source for more capital beyond the shores of Nigeria.
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What you need to know about CBN lifting FX restrictions on 43 items
The Central Bank of Nigeria (CBN), on Thursday, October 12, 2023, announced, among other policy issues, the lifting of foreign exchange restrictions hitherto placed on the importation of 43 items.