Tag: Nigeria

Minister of Labour and Employment, Chris Ngige
Business

Nigerians will not die of economic hardship – Ngige

The Minister of Labour and Employment, Chris Ngige, has stated that Nigerians will not die but adapt to the economic hardships in the country. In a statement issued on Sunday, he noted that economic hardships were not unique to Nigeria, but a global phenomenon caused by the COVID-19 pandemic and other economic crises. Ngige who […]

Director-General of the World Trade Organization, Ngozi Okonjo-Iweala
Business

Intra-African trade tariff too high at 435% – Ngozi Okonjo-Iweala

The Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, has expressed concern over the high tariffs on intra-African trade, which she says currently stands at 435 per cent. Okonjo-Iweala made these comments during the “Trade Integration in Africa” event held in Nairobi. She noted that this is hindering the implementation of the African Continental Free […]

Business

How to buy shares in Nigeria 

What is a share?  A share is used to describe a part ownership of a company. This means you become a shareholder or a part owner of that company – you are buying a portion of the company’s assets and profits. The value of your shares can either go up or down as it is […]

Air France-KLM
Business featured

Air France-KLM revenue bounces back, pays debt

Air France-KLM announced on Friday that its revenue for the first quarter of 2023 had increased, bouncing back and regaining balance since the Covid-19 pandemic. AFP reported that the company has also repaid all state aid that it received during the Covid-19 crisis, and as a result, it claimed to be “standing on its own […]

Minister of Power, Abubakar Aliyu
Business

Nigeria electricity cheapest globally – FG

The Minister of State for Power, Abubakar Aliyu, has claimed that electricity consumption in Nigeria is the cheapest in the world and is highly subsidized by the federal government. According to The Punch, the minister revealed this on Thursday in Abuja during an interactive session with the Senate Committee on Power and heads of various […]

Chartered Institute of Taxation of Nigeria
Business

CITN tasks inductees to enhance taxation knowledge

The President of the Chartered Institute of Taxation of Nigeria, Mr Adesina Adedayo, addressed new inductees at the 48th induction ceremony of the CITN in Lagos, encouraging them to enhance their knowledge of global taxation. According to The Punch, Adedayo emphasized the importance of tax professionals staying informed on the newest developments in the tax […]

NGX board members
Business

NGX loses N58bn after seven-day rally

The Nigerian Exchange Limited’s market capitalisation dropped by N58 billion on Tuesday, bringing it to N28.475tn and ending a seven-day rally. According to The Punch, the NGX’s All-Share Index also fell by 107.03 points to 52,296.48 due to a sell-off in several shares. In total, 550,293,697 million shares worth N5.150bn were traded in 6,250 deals. […]

Manufacturing Association of Nigeria
Business

Nigeria’s industrial employment dropped 21% in 2022 – MAN

The manufacturing industry in Nigeria, Manufacturers Association of Nigeria, experienced a fall in direct employment creation of 20.8 per cent in the second half of 2022. According to MAN’s most recent half-yearly evaluation of the economy, accessed by Business Day, manufacturing employment decreased to 6,741 down in the second half of 2022 from 8,508 and […]

Coat of Arm
Business

FG expresses concern over N4tn debt owed by several companies

  A Federal Government agency, Asset Management Corporation of Nigeria has requested assistance from stakeholders in order to recover N4 trillion in debt owed by businesses and other private organizations in Nigeria. Daily Post reported that this was revealed over the weekend in Lagos to stakeholders and external solicitors by AMCON’s managing director, Mr Ahmed […]

How more taxes'll reduce debt load - FG
Business

FG re-introduces excise duty on telecoms – Report

The Federal Government has once again begun plans to implement the 5% excise duty on telecommunications services. Nairametrics reported that this additional tax is part of the new Fiscal Policy Measures for 2023, which were announced on April 20, 2023, through a Circular signed by the Minister of Finance, Budget, and National Planning, Zainab Ahmed. […]