Take advantage of import duty waivers, FG tells manufacturers
The Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo, has urged manufacturers to take advantage of import duty waivers through the Import Duty Exemption Certification. Adebayo, who was represented…
Bulk cargo traffic to Lagos ports drop by 60%, say operators
Some members of the Barge Operators Association of Nigeria have said bulk cargo traffic to Lagos ports has dropped by 60 per cent as a result of extortion and traffic…
Fear of corruption hampering subsidy removal in Nigeria -IMF
The International Monetary Fund says the fear of political resistance, widespread corruption and pressure from interested groups is hampering the removal of the fuel subsidy in Nigeria. The IMF said…
Nigeria’s debt set to peak at N45tn in 2022, says DMO report
The total debt stock of Nigeria is likely to reach N45tn as the Debt Management Office plans to borrow an additional N6.39tn to finance the 2022 budget deficit. This was…
Fuel scarcity: FG implements 25% freight rate increase for NARTO
The Federal Government has approved and commenced the implementation of the 25 per cent freight rate increase to members of the Nigerian Association of Road Transport Owners in a bid…
AfDB secures $15.6bn for Lagos-Abidjan highway corridor
The President of the African Development Bank, Dr Akinwumi Adesina, announces that the bank has secured $15.6bn for the construction of the Lagos-Abidjan highway corridor, which would ease transportation across…
Nigeria borrowed N6.64tn, serviced debt with N2.93tn in 2021 -DMO
THE Debt Management Office on Thursday said Nigeria’s total public debt stock increased to N39.56tn in 2021 from N32.92tn in 2020. The Director-General, DMO, Patience Oniha, said this at a…
OPEC quota: Elumelu disagrees with Sylva over low oil sector investment
Nigeria’s billionaire businessman, economist, and philanthropist, Tony Elumelu, on Thursday argued that the reason why Nigeria had been unable to meet its oil production quota as approved by the Organisation…
Telcos mull tariff hike as diesel price skyrockets
Telecommunications services providers under the aegis of the Association of Licensed Telecoms Operators of Nigeria have said a tariff review for telco services may happen if the rise in the…
Customs impound Dangote truck with 250 bags of foreign rice
The Comptroller-General of the Customs Strike Force, Team A Unit, Mohammed Yusuf, has said his officers seized a Dangote truck loaded with 250 bags of banned imported rice. Yusuf stated…
FG halts N600bn electricity subsidy, confirms power tariff hike
The Nigerian Electricity Regulatory Commission on Wednesday declared that subsidy on power amounting to about N600bn during some period had now been stopped by the Federal Government. It also revealed…
Senate amends Money Laundering Act, banks to report deposits to EFCC
The Senate, on Wednesday, passed a bill to amend the Money Laundering Act 2011, which makes it mandatory for Deposit Money Banks and other financial institutions to report to the…
