Category: Economy
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Nigeria sets ambitious N20 trillion revenue target
Nigeria, Africa’s largest economy, has announced a sweeping review of its existing tax incentive framework with the aim of boosting revenue collection and fostering economic growth.
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FG set to achieve double digit economic growth
The Minister of Budget and Economic Plannig, Atiku Bagudu, says the present administration will strive to achieve double digit economic growth.
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FAAC: How FG, States, LGCs shared N966bn for July
The Federation Account Allocation Committee (FAAC), has shared N966.110 billion revenue to the Federal Government, States and Local Government Councils (LGCs) for July.
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We have no plans to increase taxes – FG
The Federal Government says it has no plans to increase taxes or add to the burdens of the country’s tax paying citizens.
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Rising inflation plunges Nigerians further into Hardship
Nigeria’s annual inflation rate has surged to an alarming 24.08 per cent in July, up from 22.79 per cent in the month of June, according to data released by the National Bureau of Statistics (NBS) on Tuesday. The NBS also reported that on a year-on-year basis, the headline inflation rate is a staggering 4.44 per…
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SEE FULL LIST of States where food prices are rising the fastest
The National Bureau of Statistics (NBS) said Nigeria’s headline inflation rate increased to 24.08 per cent in July 2023.
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How Nigeria’s economy grew by 2.4% in Q1 – OPEC
The Organisation of the Petroleum Exporting Countries (OPEC) has said that Nigeria’s economic growth in the first quarter of 2023 (1Q23) stood at 2.4 per cent year-on-year (y-o-y).
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Why price of cooking gas may surge soon
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has alluded to the reason why the price of cooking gas may surge soon.
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JUST IN: Tinubu vows to end Nigeria’s over reliance on borrowing
President Bola Tinubu on Tuesday in Abuja expressed his resolute commitment to break the vicious cycle of overreliance on borrowing for public spending, and the resulting burden of debt servicing it places on the management of Nigeria’s limited government revenues.
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Subsidy removal: Nigeria’s inflation expected to reach 25 per cent – World Bank
As the fuel subsidy removal takes toll, the World Bank has predicted a significant rise in Nigeria’s inflation rate. The Washington-based bank revealed this in its June 2023 edition of the Nigeria Development Update. The bank predicts that the inflation rate will hit 25% in the coming months, attributing this surge to the adverse impact…