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By Abiola Olawale Amid rising public anxieties over a 5% fuel tax, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has clarified that the new levy is not a fresh imposition by President Bola Tinubu's administration. He explained that the levy originated from a 2007 law and remains dormant until…
September 9, 2025
The Nigeria Customs Service Board (NCSB) has announced the approval of a $300 de minimis threshold for low-value imports. This means low-value consignments valued below $300 have been exempted from import duties and taxes starting today, Monday, September 8, 2025. The customs explained that this policy shift aligns Nigeria with global best practices, adding that…
September 8, 2025
By Obinna Uballa Economic experts and government officials have described Nigeria’s scheduled hosting of the 2027 Intra-Africa Trade Fair (IATF) as a transformative opportunity for the country’s economy, predicting that the event will hepl unlock new markets, attract foreign investments, and position Nigeria as a leading hub for continental commerce. The announcement on Friday by…
September 8, 2025
By Abiola Olawale Nigeria’s foreign exchange (FX) reserves have reached a 44-month high, climbing to $41 billion as of August 19, 2025, according to data from the Central Bank of Nigeria (CBN). According to recent data from the CBN, this milestone reflects a steady accumulation driven by strategic economic reforms, increased oil production, and enhanced…
August 21, 2025
By Obinna Uballa The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr Bashir Bayo Ojulari, has countered Africa’s richest man, Aliko Dangote, over the future of Nigeria’s government-owned refineries. While Dangote recently cast doubt on the viability of the Port Harcourt, Warri, and Kaduna refinerie, stating they may never work…
August 21, 2025
By Obinna Uballa Outgoing president of the African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has warned that African countries are losing about $100 billion annually as a result of poor governance and weak legal frameworks in Africa. Adesina argued that the rule of law with its consequential protocols of good governance, strong legal and…
August 16, 2025
*Says Expatriate Employment Levy 'II Kill Investors Confidence By Ken Afor Due to the unfavorable economic environment, the Manufacturers Association of Nigeria (MAN) reported that 335 manufacturing companies faced financial difficulties, while 767 ceased operations in 2023. The association, while reacting to the newly introduced Expatriate Employment Levy (EEL) by the administration of President Bola…
March 7, 2024
By Agency Report Nigeria's economy grew 3.46% in the fourth quarter (NGGDPQ=ECI), opens new tab, a similar pace as it did a year earlier, data showed on Thursday, as oil output picked up and government reforms to boost growth began to take effect. Gross domestic product grew quicker than in the two previous quarters of…
February 22, 2024
By Louis Achi A total sum of N1.1trn from the federation account has been shared by the Federation Account Allocation Committee (FAAC) as allocation to the three tiers of government for the month of August. The disbursement is contained in a communique issued by FAAC at its September 2023 meeting. The N1.1trn revenue comprised statutory…
September 29, 2023
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By Abiola Olawale Amid rising public anxieties over a 5% fuel tax, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has clarified that the new levy is not a fresh imposition by President Bola Tinubu's administration. He explained that the levy originated from a 2007 law and remains dormant until…
September 9, 2025
The Nigeria Customs Service Board (NCSB) has announced the approval of a $300 de minimis threshold for low-value imports. This means low-value consignments valued below $300 have been exempted from import duties and taxes starting today, Monday, September 8, 2025. The customs explained that this policy shift aligns Nigeria with global best practices, adding that…
September 8, 2025
By Obinna Uballa Economic experts and government officials have described Nigeria’s scheduled hosting of the 2027 Intra-Africa Trade Fair (IATF) as a transformative opportunity for the country’s economy, predicting that the event will hepl unlock new markets, attract foreign investments, and position Nigeria as a leading hub for continental commerce. The announcement on Friday by…
September 8, 2025
By Abiola Olawale Nigeria’s foreign exchange (FX) reserves have reached a 44-month high, climbing to $41 billion as of August 19, 2025, according to data from the Central Bank of Nigeria (CBN). According to recent data from the CBN, this milestone reflects a steady accumulation driven by strategic economic reforms, increased oil production, and enhanced…
August 21, 2025
By Obinna Uballa The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr Bashir Bayo Ojulari, has countered Africa’s richest man, Aliko Dangote, over the future of Nigeria’s government-owned refineries. While Dangote recently cast doubt on the viability of the Port Harcourt, Warri, and Kaduna refinerie, stating they may never work…
August 21, 2025
By Obinna Uballa Outgoing president of the African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has warned that African countries are losing about $100 billion annually as a result of poor governance and weak legal frameworks in Africa. Adesina argued that the rule of law with its consequential protocols of good governance, strong legal and…
August 16, 2025
*Says Expatriate Employment Levy 'II Kill Investors Confidence By Ken Afor Due to the unfavorable economic environment, the Manufacturers Association of Nigeria (MAN) reported that 335 manufacturing companies faced financial difficulties, while 767 ceased operations in 2023. The association, while reacting to the newly introduced Expatriate Employment Levy (EEL) by the administration of President Bola…
March 7, 2024
By Agency Report Nigeria's economy grew 3.46% in the fourth quarter (NGGDPQ=ECI), opens new tab, a similar pace as it did a year earlier, data showed on Thursday, as oil output picked up and government reforms to boost growth began to take effect. Gross domestic product grew quicker than in the two previous quarters of…
February 22, 2024
By Louis Achi A total sum of N1.1trn from the federation account has been shared by the Federation Account Allocation Committee (FAAC) as allocation to the three tiers of government for the month of August. The disbursement is contained in a communique issued by FAAC at its September 2023 meeting. The N1.1trn revenue comprised statutory…
September 29, 2023
