The Debt Management Office (DMO) says government can reduce its dependence on borrowings to finance budget deficits by improving its revenue drive and prioritising expenditure. The Director-General of the DMO, Patience Oniha, said this on Tuesday during a presentation at an Executive Course on Budgeting and Fiscal Responsibility organised...
BUSINESS
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) from 14 per cent to 15.5 per cent on Tuesday to tame inflation. The committee had increased the MPR by a total of 250 basis points at its last two...
The Nigerian Exchange Ltd. (NGX) was upbeat on Monday as market capitalisation increased by N87 billion or 0.33 per cent to close at N26.532 trillion from N26.445 trillion recorded on Friday. Also, the All-Share Index (ASI) increased by 162.70 basis points, representing a rise of 0.33 per cent to...
The Naira appreciated slightly against the dollar at the Investors and Exporters window on Monday as it exchanged at 436. The rate represents a 0.08 per cent appreciation compared to the N436.33 for which the dollar exchanged Sept. 23. The open indicative rate closed at N435.67 to the dollar...
Vendease, an online marketplace for Africa’s food businesses, says it has raised 30 million dollars to transform restaurant businesses across Africa. Vendease which made this known in a statement issued in Lagos on Monday, said the money was raised in an equity and debt funding round. It said that...
As the Central Bank of Nigeria (CBN) holds its Monetary Policy Committee (MPC) meeting on Monday, some stakeholders project a hike in policy rates. This is against the backdrop of global monetary policy trend, which has seen the American Central Bank (The Fed), and the Bank of England increasing...
The Nigerian National Petroleum Company Ltd has debunked claim of operating a secret account. NNPC’s spokesperson, Garba Deen Muhammad said reports credited to the House of Representatives ad hoc Committee set up to investigate “The structure, accountability and production sharing contracts of the NNPC from 1990 to date”, which allegedly found...
By DAVID IORJA, Abuja – When governments deploy tax revenues for the common good of the citizens, there is a concomitant increase in tax compliance by citizens who see the direct benefit of the taxes they pay. This was the position held by the Executive Chairman of the Federal...
The National Bureau of Statistics (NBS) stated that prices of selected food items increased in August. This is according to the NBS Selected Food Prices Watch Report for August, released in Abuja on Saturday. It said that the average price of 1kg of beans (white, black eye, sold loose)...
…Moves 11 ranks up in the world’s top 100 airlines By OLA MODUPE, Lagos – Ethiopian Airlines, the largest Aviation Group in Africa, has been named the winner of four awards at the SKYTRAX 2022 World Airline Awards, at a ceremony held in London on 23 September 2022. Ethiopian...
The Federal Government has selected Ethiopian Airlines (ET) Consortium as preferred bidder for Nigeria Air. The Minister of Aviation, Sen. Hadi Sirika made this known during a media briefing on Friday in Abuja. According to him, ET scored 89 per cent out of 100 as regards the technical bid...
The Minister of State Petroleum Resources Chief Timipre Sylva, has said that the desire to surmount the challenges bedeviling the oil and gas sector led to the enactment of the Petroleum Industry Act (PIA). Sylva spoke at the Nigeria International Economic Partnership Forum, in New York, with the theme:...
This award is been a long time coming for me. My achievement as a top and trusted realtor in Lagos State. I was given an award as the top selling realtor in AMEN ESTATE and the reason why I was given this award is because I have been able...
By CALLISTUS OFFOR, Abuja – The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Professor Umar Danbatta, has said that the level of awareness of the potentials of telecommunications products and services is a credit to the media industry which has partnered with the Commission in the regulatory...
By JOY ADARA, Abuja – The Federal Inland Revenue Service (FIRS) has cautioned Ministries, Departments and Agencies of Government (MDAs) against the appointment of consultants and concessionaires to collect taxes due to the Federal Government or any of its agencies, as the FIRS is the sole agency of government...
Trading in the Nigeria Stock Exchange market has again ended negative on Wednesday as market capitalisation lost N13 billion or 0.05 per cent to close at N26.657 trillion against N26.670 trillion on Tuesday. Also, the All-Share Index lost 23.40 points or 0.05 per cent to close at 49,421.91 from...
The National Lottery Regulation Commission on Wednesday lauded Dangote Cement Plc for its commitment to giving back to customers through the ‘Bag of Goodies Promo Season 3.’ Principal Administrative Officer of the commission, Mr Afam Ojeh, praised the company in Sagamu, Ogun, in a statement by Mr Anthony Chiejina,...
Nigerian Exchange Ltd. (NGX) says it will continue to collaborate with stakeholders to enhance securities lending transactions and provide an efficient and liquid market for investors. It also said this was consistent with its commitment to contribute to the growth and development of capital market in Nigeria and Africa....
The Naira depreciated against the dollar at the Investors and Exporters window on Wednesday as it exchanged at N436.50. Wednesday’s rate represented a 0.06 per cent depreciation compared to the N436.25 for which the dollar exchanged on Tuesday. The open indicative rate closed at N44. 75 to the dollar...
By THOMAS AKASE, Makurdi – Top10 Magazine, a Lagos-based national magazine published by a Benue indigene, is putting arrangement in place to honour leading Benue-born business icons with the theme: “Celebrating Top 10 Benue Business Ambassadors”. The event which is slated to hold in Abuja in early December is...