economic

The Chairman, Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler says with the introduction of Voluntary Assets and Income Declaration Scheme (VAIDS), no Nigerian can evade tax payment. Fowler said this at the 138th Quarterly Meeting of the Joint Tax Board (JTB) on Monday in Abuja. The theme of the meeting was “Administering Voluntary Assets […]

Waziri Adio, ES NEITI Waziri Adio, ES NEITI The Nigeria Extractive Industries Transparency Initiative (NEITI) has reported that Nigeria accumulated a total of $201.2bn in Excess Crude Account and squandered within 10 years. NEITI made the disclosure in its Occasional Paper (Issue 2) made available to our correspondent in Abuja on Monday. The publication, which […]

stock market stock market The Nigerian Stock Exchange market capitalisation has dipped to N13.080 trillion from N13.166 trillion as the equities market shed N86 billion. A total of 316.122 million shares valued at N4.224bn were traded in 4113 deals; of which the NSE All-Share Index closed at 37,950.96 basis points from 38,198.60 basis points. The […]Read More

The Federal Government has given State governments autonomy to produce own power so as to ensure improved power supply in the country. It said this is because nothing in the Electricity Power Sector Reforms Act EPSRA deter States from doing such. Speaking at the 18th monthly power sector operators meeting on Monday at the Kumbotso […]

The Presidency dismissed former President Goodluck Jonathan’s claim on the state of the economy at the end of his administration in May 2015. Jonathan said at the weekend that he handed over a healthy economy to President Muhammadu Buhari. “We tamed inflation at a single digit, maintained price stability, and drove the economy to become […]

Kemi Adeosun Kemi Adeosun The above title and following excerpts are from the Guardian Newspaper editorial of 31st July, 2017. Please read on.This newspaper hereby reaffirms its position earlier, canvassed in its editorial of 18/7/2017 titled “Economy: Lend To Rather Than Borrow From IMF”, that the economy has the stamina to dispense with external budgetary […]Read More

electricity electricity A new report by the Socio-Economic Rights and Accountability Project (SERAP) has revealed how over N11 trillion meant to provide regular electricity supply was allegedly squandered under democratic governments in Nigeria. According to the report, “The total estimated financial loss to Nigeria from corruption in the electricity sector starting from the return to […]

AGF Ahmed Idris FAAC Table: The Sharing of N652bn to FG, States, LGCs in July 2017 FAACjune2017. In a document obtained by the Economic Confidential, the economic intelligence magazine, the federal Government received N286bn while the 36 States and FCT got N178bn and 774 Local Government shared N134bn. Other recipients/beneficiaries of the allocation include Nigeria […]

electricity How Nigeria Squanders N11tr for electricityA new report by the Socio-Economic Rights and Accountability Project (SERAP) has revealed how over N11 trillion meant to provide regular electricity supply was allegedly squandered under democratic governments in Nigeria. According to the report, “The total estimated financial loss to Nigeria from corruption in the electricity sector starting […]

The Presidency said it paid N6.2 billion 14 states during the school year ending this month for the feeding of 2,827,691 students out of the three million targeted for this year. The Senior Special Assistant to the Acting President on Media and Publicity, Laolu Akande, listed the benefitting states as Anambra, Enugu, Oyo, Osun, Ogun, […]

The Minister of Health, Prof. Isaac Adewole, has said the Federal Government was determined to stop the sale of drugs in open markets in the country at the end of 2018. Adewole made this known when he visited the site for the construction of a Pharmaceutical Coordinated Wholesale Centre at Oba, near Onitsha in Anambra. […]

The construction of a 20,000-barrels-per-day crude oil refinery in Lagos by a Nigerian petrochemical and refining company has received a major boost with the signing of a grant by the United States Trade and Development Agency. Similarly, the Federal Government has pledged to provide the necessary support to the company towards the completion of the […]