The equity market, on Wednesday,sustained its bullish momentum by adding N314 billion profit to the portfolios of investors. Specifically,the market capitalisation which opened at N56.133 trillion,gained N314 billion or 0.56 per cent to close at N56.447 trillion. The All-Share Index also rose by 0.56 per cent or 545 points,...
BUSINESS
The Federal Inland Revenue Service (FIRS) says it will introduce the FIRS e-Invoice, a digital solution for managing invoices, in line with the Tax Administration and Enforcement Act 2007. Executive Chairman, FIRS, Dr Zacchaeus Adedeji, stated this on Wednesday in Lagos at the LCCI-FIRS Organised Private Sector Stakeholders Engagement...
By PATRICK ABANG, Calabar – The Nigeria Youth Investment Fund (NYIF) has received an overwhelming response, with over 10,000 youths registering for the program. The Federal Government has allocated N110 billion to support young entrepreneurs aged 18-40. According to the Special Adviser to Governor Bassey Otu on Digital Economy,...
The 550 million dollars upstream gas project between the Nigerian National Petroleum Company Limited (NNPC Ltd.) and TotalEnergies on the development of the Ubeta field has commenced operations, the Presidency announced on Tuesday. The Special Adviser to the President on Energy, Olu Verheijen disclosed this during an inaugural US-Nigeria...
By EZEKIEL OBI, Abuja – The Federation Accounts Allocation Committee (FAAC), has shared N1.203 trillion revenue among the Federal Government, states and Local Government Councils (LGCs). According to a communique issued by FAAC after its meeting on Tuesday, the N1..203 trillion total distributable revenue comprised statutory revenue of N186.636...
The National Pension Commission (PenCom) on Tuesday in Lagos assured that all outstanding pension liabilities would be paid soon. Acting Director-General, PenCom, Ms Omolola Oloworaran, gave the assurance at a workshop on the Online Enrolment Application for Pension Desk Officers (PDOs) of Treasury-funded Ministries, Departments and Agencies (MDA) of...
World Data Lab, in collaboration with Mastercard Foundation, has unveiled the African Youth Employment Clock in Nigeria to help create 30 million jobs in Africa by 2030. Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, said on Tuesday in Abuja that the inauguration of the clock aligned with...
Gov. Godwin Obaseki of Edo on Tuesday announced one billion naira traders’ grant for the support of market women in the state. Obaseki made the announcement during the annual get-together of Edo market women in honour of the governor in Benin. The governor said the grant would be distributed...
Almost a year in the saddle, President Bola Tinubu has ordered Olayemi Cardoso to resign his appointment as the Governor of the Central Bank of Nigeria (CBN) owing to his inability to stop the poor performance of the economy, most especially, the free fall of Nigeria’s currency, the Naira,...
The Presidency has announced the take-off of the 550 million US Dollar upstream gas project between the Nigerian National Petroleum Corporation Ltd. (NNPCL) and TotalEnergies on development of Ubeta field. Special Adviser (SA) to President Bola Tinubu on Energy, Olu Verheijen disclosed this at an inaugural US-Nigeria Strategic Energy...
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate further declined to 32.15 per cent in August 2024. The NBS said this in its Consumer Price Index (CPI) and Inflation Report for August 2024, which was released in Abuja on Monday. According to the report, the figure...
By OLA MODUPE , Lagos – Dangote Refinery has debunked report of selling petrol to the Nigerian National Petroleum Company Limited (NNPCL) at N898 per litre. A spokesman for the refinery, Anthony Chiejina in a statement late Sunday described the claim by the NNPCL as “misleading and mischievous”. He...
In the face of the challenges in the oil sector, particularly the current tightness in the supply of petrol, it has become fashionable to blame the national oil company, the Nigerian National Petroleum Company Ltd (NNPC Ltd), for everything. Last week, it was Prof. Pat Utomi who railed and...
The Director-General of the Bureau of Public Enterprises (BPE), Mr.Ayodeji Ariyo Gbeleyi (5th from left) and former Acting Director General of BPE, Mr.Ignatius Ayewoh (2nd from the right) with other retired management staff of the Bureau at a send-off party in their honour……Friday. Photo:Alhassan Mustapha(BPE).
The Nigerian Exchange Ltd.(NGX) market capitalisation, on Friday, closed positive with N248 billion gain. Specifically, the market capitalisation added N248 billion or 0.44 per cent to its opening of N55.754 trillion to close at N56.002 trillion. The All-Share Index also gained 0.44 per cent or 432 points to close...
The House of Representatives has asked Guaranty Trust Bank (GTB) to remit Value Added Tax (VAT) on the commission received from Remita between 2015 and 2022 to the Federal Government recovery account. The Chairman, Public Accounts Committee (PAC), of the lower chamber, Rep. Bamidele Salam (PDP- Osun), gave the...
he Federal Government has signed the Cape Town Convention (CTC) Practice Directions to reduce the cost of airline operations in Nigeria’s aviation sector. The signing took place during a stakeholders’ meeting of the Presidential Enabling Business Environment Council (PEBEC), chaired by Vice-President Kashim Shettima at the Presidential Villa, Abuja....
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has directed payment service providers to begin the tracking of all Point of Sale (PoS) transactions. In a circular issued recently, , the CBN ordered Payment Service Providers (PSPs) to regularize their connections with Payment Terminal Service Aggregators...
UBA Foundation, the Corporate Social Responsibility arm of United Bank for Africa (UBA) Plc, is positioning itself at the forefront of Africa’s green revolution, advocating for climate action and a greener future. In a bold move to champion environmental sustainability across Africa, the UBA Foundation has embarked on the...