FG to invest N350bn on capital spending in Q2

The federal government has said it is ready to invest N350billion in capital spending in the second quarter of 2016, to help stimulate the economy.

Minister of Finance, Mrs. Kemi Adeosun, who disclosed this at the recent National Economic Council retreat, said the Federal Government plans using [...]

Mon, 28 March 2016

Statutory revenue drops by N20bn in February

Gross statutory revenue into government coffers dropped by N20.47billion in February alone, owing to shut-down of oil pipelines for repairs at major terminals, the Federation Account Allocation Committee, FAAC, has said.

The February revenue was put at N270.49billion, as against the N290.96bill [...]

Mon, 28 March 2016

Uber Nigeria makes 30% more trips than London

Uber Nigeria is said to have made 30percent more trips in its 16months of operations in the country, than was recorded in the same time frame in London.

The development, managements said has created an estimated 1,000 jobs, by connecting over 100, 000 potential riders with drivers since 2014 wh [...]

Mon, 28 March 2016

2016 budget: Bumpy road to passage

The National Assembly passed and transmitted the controversial 2016 budget to the presidency with over N17billion‎ reduction from the N6.08 trillion earlier proposed by President Muhammad Buhari in December, 2015.

The substantial reduction is attributed to the errors and omissions iden [...]

Mon, 28 March 2016

45,000 bakers close shop in just three months – Master Bakers

The National President, Association of Master Bakers of Nigeria, Mr. Simeon Abanulor said has said that about 45,000 bakers have been put out of business in the last three months due to high cost of wheat.

Abanulor on Tuesday in Aba, Abia State said: “You will not believe the number of ba [...]

Sat, 19 March 2016

FG to review taxes on maize import

As a way of encouraging the production of poultry feed in the country, the federal government has said it would work out ways of reviewing the issue of multiple taxations and Value Added Tax on maize importation in Nigeria.

Minister of Agriculture and Rural Development, Chief Audu Ogbe, dropped [...]

Sat, 19 March 2016

FCT households spend N93 on petrol in February - NBS

An average of N93 was spent by households in the federal capital territory, on premium motor spirit (petrol) in the month of February 2016, the Nigerian Bureau of Statistics has said.

The figures from the NBS latest Premium Motor Spirit (Petrol) Price Watch shows that on the average, N92.70 was [...]

Sat, 19 March 2016

FG moves to save on officials’ travel cost

The federal government has said its on-going discussions with local and international airlines to secure discounts for travel by government officials are yielding positive results, as it is getting positive feedback from the airlines.

According to the Federal Ministry of Finance, government is [...]

Sat, 19 March 2016


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