Business

RMAFC backs $15bn cash for oil deal with India

Reactions have continued to trail the proposed ‘cash for crude oil’ deal between Nigeria and India, as many have describe it as a more reasonable means to shore up the country's reserve.
The federal government had last week revealed that it is expecting a minimum investment of $1 [...]

Sat, 22 October 2016


IMF rating: Group tasks Nigerians to keep faith

With the recent rating of the Nigeria's economy as being the largest in Africa by the International Monetary Fund, 
IMF, the Buhari Media Support Group, BMSG, has urged Nigerians to reposekeep faith in the APC-led federal government as President Muhammadu Buhari’s administration e [...]

Sat, 22 October 2016


FG, states to review World Bank projects in Nigeria

The federal government has said it will be meeting with the state governments to review some World Bank assisted projects in their domains, with the view of transferring failing projects to more viable states.

Such projects, the federal ministry of finance explained, have stalled the implementa [...]

Sat, 22 October 2016


NERC fines DISCOs N6.2m for ignoring forum rulings

The Nigerian Electricity Regulatory Commission, NERC, has fined two distribution companies over N6million for failing to comply with the decisions of Forum Offices rulings in complaints filed by their customers.
The Commission in Directive 153 imposed the sum of N5.010million sanction on Benin E [...]

Sat, 15 October 2016


FG receives 56 proposals to boost telecom services in Nigeria

A total of 56 telecommunication and ICT based proposals has so far been submitted to the federal government’s committee on research submission on ways to improve telecom services in the country, the Nigerian Communications Commission, NCC, has said.
Speaking recently at the at the inaugura [...]

Sat, 15 October 2016


FG set to lower taxes for SMMEs

As part of plans to encourage small businesses, and spur the economy, the Federal Government said it is set to reduce tax rates payable by Small, Micro and Medium Enterprises, SMMEs, in the country.
The incentive, which is part of recommendations by the Prof. Abiola Sanni-led tax review committe [...]

Sat, 15 October 2016


CBN approves guideline for Sukuk issuance by states

In a bid to improve the diversification of sources of funds for development at the sub-national levels, the federal government last week approved the guidelines for granting liquid asset status to Sukuk instruments issued by state governments.
According to the Central Bank, the new guideline for [...]

Sat, 15 October 2016


How Nigeria can get its budgeting process right - Colloquium

Stakeholders have called for a formal forum for pre-budget consultations between the Legislature and the Executive, to avoid a repeat of the em [...]

Sat, 15 October 2016


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