Category: Economy
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Nigeria’s economy gradually picking up – Minister of Finance
Nigeria’s economy gradually picking up
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CBN Deputy Governor explains depreciation in Naira’s value
The Deputy Governor, Corporate Services Department of the Central Bank of Nigeria (CBN), Mr Edward Adamu, has attributed the depreciation in the value of the Naira to the effects of the COVID-19 pandemic on the economy. Adamu stated this at an interactive session with the House Committee on Finance on the 2022-2024 Medium-Term Expenditure Framework/Fiscal…
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Why cost of cooking gas is skyrocketing
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has explained that the reintroduction of value added tax (VAT) on Liquefied Petroleum Gas (LPG), also known as cooking gas, is the reason why the cost of the commodity is skyrocketing. TheNewsGuru.com (TNG) reports Mr Bassey Essien, Executive Secretary, NALPGAM, who made this known in Lagos…
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VAT increase by N15.86bn in Q2 – NBS
Nigeria recorded an increase of N15.86 billion Value Added Tax (VAT) revenue from N496.39 billion generated in quarter one (Q1, 2021) to N512.25 billion in Q2. This is contained in the National Bureau of Statistics’ (NBS) “Sectoral Distribution of VAT Data for Q2, 2021’’, obtained on Tuesday in Abuja. It said the N512.25 billion generated…
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NBS to re-base Nigeria’s GDP in 2021
Yemi Kale, the Statistician-General of the Federation and CEO of the National Bureau of Statistics (NBS) has said the nation will re-base its Gross Domestic Product (GDP) later in the year. He said this on Thursday in Abuja during a media conference on the significance of the on-going National Survey of Establishment (NSE). He said…
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![BREAKING: Security operatives fire shots at protesting students in Abuja [VIDEO]](https://thenewsguru.ng/wp-content/uploads/2021/02/Screenshot_20210201-200904.png)
BREAKING: Security operatives fire shots at protesting students in Abuja [VIDEO]
…UNIABUJA management appeals for calm Security operatives fired shots at students of the University of Abuja (UNIABUJA) on Monday after they stormed the streets of the federal capital territory (FCT) in protest. TheNewsGuru.com (TNG) reports students of the institution staged the protest at the ever-busy Nnamdi Azikiwe International Airport expressway, and the main entrance to…
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Baptism and the Challenges of Unity, By Stephen Ojapah MSP
Stephen Ojapah MSP Today, the Catholic Church everywhere in the world, celebrates the baptism of our Lord Jesus Christ, in the river Jordan by John Baptist. The Feast of the Baptism of our Lord, marks the end of the Christmas Season. Baptism, from the Greek noun (βάπτισμα) baptisma, is a Christian rite of admission and…
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FG to borrow from dormant bank accounts, unclaimed dividends to finance 2021 budget
The federal government (FG) has revealed plans to borrow monies in dormant bank accounts and unclaimed dividends to finance the 2021 budget. This information is contained in the Finance Act 2020 recently signed into law by President Muhammadu Buhari. According to the finance act, the monies recovered in the process would be transferred into an…
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FG to slash 35% levy on imported cars to 5%
The federal government has revealed plans to slash the 35 per cent levy paid on imported cars to 5 per cent. This is contained in the draft bill of the 2020 finance bill to be presented to the National Assembly (NASS). The bill becomes law after it is passed by the legislature and assented by…
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Atiku suggests ways to tackle Nigeria’s 2nd recession in 5 years
Former Vice President Atiku Abubakar has said the proposed 2021 budget presently before the National Assembly (NASS) is no longer tenable. TheNewsGuru.com (TNG) reports Atiku stated this on Sunday as the Nigerian economy slipped into its second recession in five years. He suggested several ways the government can tackle the recession, including more taxes on…