Business

FG revenue appreciates despite falling oil price

Regardless of the tumbling oil prices and the repeated shut-ins, shut-downs of production lines for repairs in recent times, the federal government says it realized a 5.6 percent increase in the nation’s revenue for the month of December 2015.

The country recorded an increase from N297.45 [...]

FIRS moves to broaden tax base with state structures

About 26 directors of the Federal Inland Revenue Service, FIRS, have been transferred to various divisions in-line with its recent campaign to widen the nation’s tax base.

The massive restructuring which also saw the introduction of the state coordinator structure, a move the FIRS managem [...]

Falling oil prices, no end in sight, CBN warns

The end may not be insight to the low revenue generated from the nation’s crude oil, as the Monetary Policy Committee of the Central Bank of Nigeria predicts a prolong plunging of oil price in the global market.

A communiqué at the end of the committee’s meeting in Abuja said [...]

a visit by the Unilever management to the National Assembly in Abuja

L-R: President, Africa Unilever, Bruno Witvoet, Senate President Bukola Saraki, Managing Director/CEO, Unilever Nigeria Plc, Mr.Yaw Nsarkoh, Chairman, Senate Committee on Industry, Dr. Sam Egwu and Corporate Affairs Director, Unilever Nig, Mrs. Soromidayo George during a visit by the Unilever manageme [...]

Economic diversification: FG to set up food processing zones

The Nigerian government has assured the international community of its willingness to set up chains of food processing mills across the country to help in diversifying the economy.

Speaking to a delegation from the United Nations Industrial Development Organisation, UNIDO, Minister of Agricultu [...]

Forex policy boosts local industry- manufacturers

The recent foreign exchange restriction on the importation of some selected item may have been well received by manufacturers in Nigeria, as they said the policy is enhancing their production capacity.

Describing the policy as “the game changer”, some members of the Nigerian manufac [...]

FG sets N300bn intervention fund to stimulate non-oil export

To address the challenges of inadequate funding as well as maximize the potentials in the non-oil sector, the federal government says it will commit N300billion in special intervention fund to boost non-oil exports in Nigeria.

A communiqué issued at the end of a non-oil export conference [...]

NDIC pays N15.4bn into consolidated revenue fund

The Nigeria Deposit Insurance Corporation, NDIC, has remitted the sum of N15.4 billion into the Consolidated Revenue Fund between 2007 and 2014, the Fiscal Responsibility Commission, FRC, has said.

The sum, which is 25 percent of the corporation’s gross revenue during the period, has been [...]