The federal government is urging both local and international investors to explore opportunities in Nigeria’s sugar market, which is valued at approximately $2 billion. Kamar Bakrin, the Executive Secretary and CEO of the National Sugar Development Council (NSDC), emphasized that Nigeria’s annual sugar consumption ranges from 1.4 to 1.6 million metric tonnes. Bakrin stated that…
Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), has stated that the four tax bills currently under consideration by the National Assembly pose no threat to the existence of any government agency or the jobs of individuals. Adedeji provided this reassurance on Wednesday in Abuja during a meeting with the chief executive officers…
The National Economic Council, which includes members of the Nigerian Governors Forum, has recommended that the presidency withdraw the Tax Reforms Bill from the National Assembly. This request is based on the necessity for broader consultations and consensus among stakeholders. Oyo State Governor Seyi Makinde stated that this recommendation was part of the resolutions made…
On Tuesday, the naira saw an increase in value against the dollar in the official foreign exchange market. According to FMDQ data, the naira rose to N1630.35 per dollar on Tuesday, up from N1670.65 on Monday, marking an appreciation of N40.3. In contrast, the black market saw the naira decline slightly, trading at N1748 per…
Petroleum marketers have articulated their request for a N100 billion intervention from the Nigerian Government, aimed at preventing business collapses in the wake of rising Premium Motor Spirit prices. Oil marketers are currently awaiting a favorable response from the government regarding their appeal for this substantial intervention fund. In an exclusive interview with DAILY POST…
The Central Bank of Nigeria (CBN) has confirmed that there is no deadline for the circulation of the old N200, N500, and N1000 banknotes. CBN spokesperson Sidi Ali Hakama made this announcement in a statement released on Thursday. This clarification comes in response to rumors suggesting that the old Naira notes would no longer be…
In the past 48 hours, the naira has depreciated by N106.7 against the dollar in the official foreign exchange market. This decline follows a further weakening of the naira as foreign exchange supply decreased on Wednesday. According to FMDQ data, the naira fell to N1659.69 per dollar on Wednesday, down from N1658.97 on Tuesday, marking…
The House of Representatives has frowned at the Executive, led by President Bola Tinubu, over delays in submitting the 2025 budget proposal to the National Assembly. The lower chamber added that the time the National Assembly required to exercise its functions as enshrined in Section 88(2)(b) was technically being taken away by the non-compliance with…
Nigeria’s petroleum marketers have revealed that Dangote Refinery will be meeting with them on Tuesday and Wednesday. The Spokesperson of Independent Petroleum Marketers Association of Nigeria, IPMAN, Chinedu Ukadike disclosed this in an interview with Arise TV on Sunday. According to him, the more actions were taken in terms of petrol distribution, the price of…
Dangote Refinery has responded to the Nigerian National Petroleum Company Limited (NNPCL), which alleged that it purchased fuel from them at N898 per litre. [Read more here](https://dailypost.ng/2024/09/15/dangote-sold-fuel-to-us-at-n898-per-litre-nnpcl/). In a statement released to newsmen and signed by Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Company, the claims were firmly rejected. Chiejina labeled…
