Business

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


Benue moves to generate own electricity

As part of its industrialization policy, the Benue state government said it has commenced the process to generate 10 megawatts of electricity for the state.

Governor Samuel Ortom, who disclosed this in Makurdi last week, said he had met with the Acting Chairman of Nigeria Electricity Regulatory [...]

Sat, 15 October 2016


Nigeria targets 7mil tonnes rice production annually

The Federal Government has said it is working at improving staple rice production to seven million tons from the year 2017, with the new technology of rice production developed by Japan International Corporation Agency, JICA.
Speaking at a meeting with a delegation from JICA, the Minister of Agr [...]

Sat, 03 September 2016


NEMSA, SON declares war against fake electrical materials

Furtherance to the campaign against the use of substandard materials in electrical installations, the Nigerian Electricity Management Services Agency, NEMSA, recently setup an Intra-agency committee to tackle the influx of fake electrical materials and equipment into the country.
The latest coll [...]

Sat, 03 September 2016


Nigeria’s GDP dips by -2.06% in Q2

The National Bureau of Statistics, NBS, has reported that the country’s Gross Domestic Product declines by -2.06 percent (year-on-year) in the second quarter of 2016.
Nigeria’s GDP growth rate was said to have slid further from -0.36 percent in the first quarter to -2.06 percent, eve [...]

Sat, 03 September 2016


Recession: Minister disown twitter comment, video contradicts her

The Minister of Finance, Mrs. Kemi Adeosun, has denied comments on a social media platform where she reportedly insinuated that the current economic recession being experienced was “just a word.”
Adeosun came under fire from Nigerians on social media for the comment via a twitter han [...]

Sat, 03 September 2016


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