Freelance writer, Chidi Alabi, explores the significant impact of technology in transforming accounting and financial planning in Nigeria, reflected in public service systems such as the Treasury Single Account (TSA) and increased collaboration between the Institute of Chattered Accountants of Nigeria (ICAN) and key tech players like SystemSpecs As...
BUSINESS
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, says that Africa needs to finance her own growth. Emefiele said this at the Africa Finance Corporation (AFC) Live Infrastructure Solutions Summit held in Abuja on Thursday. He said that over the past two years, Africa had suffered...
By EZEKIEL OBI, Abuja – Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it has so far paid over N58 billion to oil marketers as bridging claims. The General Manager, Corporate Communications, NMDPRA, Mr Kimchi Apollo, who disclosed this in a statement issued on Thursday, said out of...
By JOY ADARA, Abuja – The Federal Government’s desire to concession the Calabar and Kano Free Trade Zones (FTZs) is for them to be able to catalyse business in the West African sub-region, through strategic production of goods and services that optimise the vast potential of the industrial axis...
The Nigerian Communications Commission (NCC) and the Federal Inland Revenue Service (FIRS) have taken their collaboration a notch further by setting up a Joint Committee of senior and management staff of the two agencies towards the implementation of inter-agency strategies for enhancing national revenues in the telecommunications sector. NCC’s...
Telecommunication operator, Airtel Nigeria has lamented that it has lost revenue following an order of the Federal Government to bar all outgoing calls of all Subscriber Identification Module cards not yet linked with the National Identification Number. The order became effective since April 4, 2022. According to Punch, Airtel...
The National Bureau of Statistics (NBS), says Nigeria’s Gross Domestic Product (GDP) increased by 4.03 per cent in the third quarter of 2021. This is according to a report released by the NBS on Nigerian Gross Domestic Product Report (Expenditure and Income Approach) for Q3, Q4 2021 in Abuja...
Ethio Telecom, the state-owned telecom service provider in Ethiopia, on Monday launched 5G mobile phone service making Ethiopia among the leading few African countries, including Kenya in eastern Africa, to roll out the technology. According to Ethio Telecom, the network will be available on hotspot areas in the capital...
By OLA MUDOPE, Lagos – The Managing Director, Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba, has said the planned concession of the country’s two public free trade zones remains government’s best economic approach to accelerate Nigeria’s industrialisation agenda. A statement by Mr Martins Odey, Head, Corporate Communications,...
By JOY ADARA, Abuja – The Federal Inland Revenue Service (FIRS) has stated that there is need for improved collaboration among countries and international stakeholders with the aim of exploring alternative rules that will enable market jurisdictions, particularly African countries, to effectively subject digital businesses to tax. This was...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) started its week with high optimism that its plan for gas development would turn around the fortune of the country economically. The Minister of State for Petroleum Resources, Chief Timipre Sylva, shared this view at the 2022 Annual Public Lecture of...
By OLA MUDOPE, Lagos – Airline Operators of Nigeria (AON) has called off its planned withdrawal of services over the hike of aviation fuel in the country. The airlines operators in a joint statement issued on Sunday in Lagos, said they would start fresh round of dialogue with government...
The Airline Operators of Nigeria (AON) on Sunday insisted that they would go ahead with withdrawal of flights services on Monday over astronomical rise in aviation fuel. Dr Yunusa Abdulmunaf, President of the association, made this known in a statement on Sunday in Lagos. Abdulmunaf said that the association...
The Cinema Exhibitors Association of Nigeria (CEAN) on Sunday said that it generated N582 million from tickets sold across the country in April. Its National President, Mr Patrick Lee, disclosed this in an interview with the News Agency of Nigeria (NAN) in Lagos. “The total ticket sales for the...
By OLA MUDOPE, Lagos – Ibom Airlines Ltd., (Ibom Air) says it is not taking part in the withdrawal of flight services as announced by Airline Operators of Nigeria (AON). AON had hinged its resolve to shut down domestic flights over the increase in the price of aviation fuel....
By EZEKIEL OBI, Abuja – The Federal Government has appealed Nigerian airlines to suspend the planned shutdown of operations from Monday over the high cost of aviation fuel from N190 to N700 per litre. The Minister of Aviation, Sen. Hadi Sirika, made the appeal in a statement issued by...
By JOY ADARA, Abuja – The Nigerian Communiations Commission (NCC) has monitored with keen interest the deluge of reports in the media on the demand by Mobile Network Operators (MNOs) ostensibly to increase tariffs of telecom services and has taken notes of the fears being expressed by telecom subscribers...
By OLA MUDOPE, Lagos – The Airline Operators of Nigeria (AON) have announced that it would discontinue operations nationwide with effect from Monday May 9, 2022 until further notice, following a rise in cost of jet A1 and other costs. The airlines – Azman Air, Max Air, United Nigeria...
The Nigerian Upstream Petroleum Regulations Commission (NUPRC) says its harmonised regulations will be operational by June 2022. It said it would enable the Petroleum Prospecting Licenses (PPL) to be issued to 2020 marginal field awardees. The NUPRC said the harmonised regulations would soon be forwarded to the Federal Ministry...
Dr Akinwumi Adesina, the president, African Development Bank (AfDB), says the bank has secured 15.6 billion dollars investment for the construction of the Lagos-Abidjan highway. Adesina tweeted this on his twitter handle @akin_adesina obtained by the News Agency of Nigeria (NAN) on Friday in Abuja. He said that the...