BREAKING: Amidst Hardship, FG move to increase tax by 10%
Taiwo Oyedele, Chairman Presidential Fiscal Policy and Tax Reforms Committee, says the committee is proposing a law to the National Assembly to increase valued added tax…
Section
Business
Nigerian business and economy news: the naira, CBN policy, inflation, oil and gas, banking, markets, budgets and companies.
We’ll export our petrol if you fail to patronize us – Dangote Refinery warns NNPCL, marketers
The Dangote Petroleum Refinery has vowed to ship its petroleum products to other countries if the Nigerian National Petroleum Company Limited, NNPCL and other oil marketers…
CBN Governor, Deputies Get N10 Billion Bulletproof SUVs, Increased Allowance
Amidst Nigeria’s economic woes and soaring inflation, the Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, and his four deputies have allegedly purchased bulletproof SUVs valued…
Nigerians to pay more for cement as production costs increase by 121%
The combined impact of Naira depreciation and high inflation has led to a 121% increase in cement production costs, dashing hopes for lower prices. Smuggling to…
External auditors to examine NNPC N2.6tn subsidy claim
The Federal Government has finally initiated plans to enlist the services of an external auditor to verify the N2.7tn fuel subsidy claim by the Nigerian National…
NNPC Publishes N3.3 Trillion Profit in Financial Statement
Nigeria’s state oil company, NNPC Limited, has released its 2023 full-year audited results, showing a profit after tax of N3.29 trillion. This represents a significant increase…
Again, Naira Depreciates To N1600 Against Dollar
The Naira fell to N1, 600 per dollar in the parallel market from N1,590 per dollar last weekend. The Naira strengthened to N1,579.22 per dollar in…
Tony Elumelu Launches New Bank
Nigerian Billionaire and Chairman of the United Bank for Africa (UBA), Tony Elumelu has launched Ucee Microfinance Bank, a subsidiary of United Capital Plc, a leading…
Rain, lightning, thunderstorms caused petrol scarcity: NNPC
The Nigerian National Petroleum Corporation Ltd. has blamed the fuel scarcity that has led to long queues in filling stations nationwide due to recent rains, lightning,…
Remittance inflows surge by 130% to $553 Million in July 2024 – CBN
The Central Bank of Nigeria (CBN) has reported a 130% surge in remittance inflows, with the figure reaching $553 million in July 2024. According to the…