Ten African countries including Nigeria’s neighbours in the West Africa sub-region, Ghana, Cameroon, Cote d’Ivoire and Kenya, in East Africa among others have been listed as worst debtor nations to the International Monetary Fund (IMF) in 2024. The latest data, reveals the African countries with the highest outstanding IMF credit. These nations continue to grapple…
Korede Abdullah in Lagos The Nigerian Communications Commission (NCC) may have approved a long-pending proposal for telecom tariff hikes, marking the end of over a decade of lobbying by telecom giants like MTN Nigeria, Airtel, and 9Mobile. Africa Health Report (AHR) investigations revealed that the new rates for calls, SMS, and internet bundles are expected…
Korede Abdullah in Lagos The National Bureau of Statistics (NBS) has reported a significant decline in foreign capital inflows from African countries, excluding Nigeria, in the third quarter of 2024. According to the NBS, African investors contributed $285.11 million, accounting for 22.76% of the total foreign capital inflow into Nigeria. This represents a 43.73% decline…
…Targets trade facilitation The Nigeria Customs Service (NCS) has dissolved Joint Border Patrol Team (JBPT) to pave way for smooth movement of goods and persons. Disclosing this on Tuesday, the Comptroller-General of Customs (CGC), Bashir Adewale Adeniyi said it is part of efforts to strengthen border management and reinvigorate its 2025 Enforcement Strategy. “This strategy…
President Bola Tinubu has said there is no going back on the tax reforms bills. Tinubu, who stated this during a media chat in Lagos on Monday, said the tax reforms were necessitated by the need to eliminate colonial-based assumptions in the nation’s tax environment. The Presidential Media Chat, Tinubu’s first, was aired on the…
The Yuletide season, traditionally a time for joy, family gatherings, and celebrations, has taken a somber tone this year as Nigeria’s economic hardships force citizens to make tough decisions. Soaring transportation fares, relentless hikes in food prices, and stagnant wages have dimmed the holiday spirit, pushing many to opt for a subdued Christmas. Our correspondents,…
The Independent Petroleum Marketers Association of Nigeria has said that petrol is going to sell at N935 per litre beginning from Monday (today) based on the latest arrangement with the Dangote Petroleum Refinery. The reduction in price to N935 in Lagos confirms projections by marketers and was reported by last week. IPMAN’s National President, Maigandi…
…Contribution Crucial for Actualising Proposed Nigeria’s ₦48 Trillion 2025 Budget – Minister The Nigeria Customs Service (NCS) has been granted approval to recruit more officers. This was disclosed by the Minister of Finance Mr. Olawale Edun who dropped the hint, saying that the board reviewed the NCS’s 2024 achievements, approving the recruitment of 3,927 officers…
The Socio-Economic Rights and Accountability Project (SERAP) has called on Senate President Godswill Akpabio and House of Representatives Speaker Tajudeen Abbas to reduce the proposed N9.4 billion for travel, meals, and catering for the presidency. The group also urged a cut to the N344.85 billion budget allocated to lawmakers, directing the savings toward addressing Nigeria’s…
Point-of-Sale (PoS) operators in Nigeria have notably raised their withdrawal fees, now charging between ₦300 and ₦200 for transactions of ₦5,000. This represents a substantial increase from the earlier limit of ₦100, leading to extensive public discussion about the financial burden on the populace. The increase comes after the Federal Inland Revenue Service (FIRS) imposed…
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