Business

Federal revenue drops by N90.27bn in September

Revenues into government coffers again suffered a major decline following the lower volume of oil exports recorded in September 2016.
Funds realised in the federation account were said to have drooped by N90.27bn in the month of September leading a drop in allocations to the three tiers of gover [...]

Sat, 22 October 2016


Telecom operators faults NCC’s 2.6GHz spectrum auction

Some telecommunication operators in the country said they stayed away from the recent auction for spectrum license, to protest what they believe was pre-arranged to allow big operators win the license.
The Nigeria Communications Commission, NCC, had in June this year, announced MTN Nigeria as th [...]

Sat, 22 October 2016


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


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