FG restates commitment to build Nigerian economy

The Federal Government reiterated its commitment to rebuilding confidence in the Nigerian economy, urging banks and financial institutions to support current economic initiatives. During the 17th Annual Banking and Finance Conference held by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja, the government detailed its implementation of both short-term and long-term strategies aimed…

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Again, Naira falls massively against Dollar

On Tuesday, the Naira experienced a substantial decline against the dollar in both the official and parallel foreign exchange markets. According to FMDQ data, the Naira dropped to N1637.59 per dollar, down from N1580.46 on Monday. This marks a notable depreciation of N57.13 against the dollar, compared to the previous day’s exchange rate of N158.46….

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VAT stays at 7.5% –Wale Edun

On Monday, Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, refuted claims that the Value-Added Tax (VAT) rate has been raised from 7.5% to 10%. In an official statement, Edun affirmed that the VAT rate remains at 7.5%, in accordance with existing tax regulations. “The current VAT rate is 7.5%,…

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Dangote Refinery is a business, not a charity- Expert tells Nigerians

Olabode Sowunmi, Chairman of the Energy Transition Study Group at the Nigerian Gas Association, has cautioned Nigerians against placing excessive expectations on the Dangote Refinery. He emphasized that the refinery is a business venture, not a non-governmental organization (NGO), and its primary goal is to generate profit. During an appearance on Arise Television on Wednesday,…

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Fuel Price Increase: Nigerians bear the burden of NNPCL’s inefficiency- NECA

The Nigeria Employers Consultative Association (NECA) has condemned the recent increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, by the Nigerian National Petroleum Company Limited (NNPCL). NECA characterized this situation as Nigerians suffering due to the inefficiencies of NNPCL. In a statement released on Tuesday in Abuja, NECA’s Director…

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