Nigeria Economy

Lawmakers move to expand Institute of Stockbrokers

The Vice Chairman, Senate Committee on the Capital Market, Senator Festus Ogwuma, has announced that the bill to expand the scope of operations of the Chartered Institute of Stockbrokers (CIS) to serve as the hub of all professional associations in Nigeria was on the verge of being passed into law. This was as the Finance […]

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FG to issue ₦135 bn bonds on July 12 – DMO

The Federal Government plans to sell ₦135 billion worth of bonds in its July 12 auction, the Debt Management Office (DMO) has said. The offer circular, which was obtained from its website on Wednesday in Abuja, said it would sell ₦35 billion of bonds that would mature in July 2021 at 14.50 per cent. It […]

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Nigeria experiences growth in jobs, real sector in June – CBN

Going by the reckoning of the Central Bank of Nigeria(CBN), the nation is getting out of the woods as its Purchasing Managers’ Index (PMI) Survey for June shows growth in business activities, job and manufacturing. According to the apex bank, business activity index rose to 57 points in June for the third consecutive month. The […]

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Osinbajo signs Diaspora Commission Bill

Acting President Yemi Osinbajo, has assented to Nigerians in Diaspora Commission Establishment Bill 2017. He also signed the Petroleum Training Institute Amendment Act 2017. Sen. Ita Enang, Senior Special Assistant to the President on National Assembly Matters (Senate), said in a statement in Abuja on Monday that the acting president assented to the Bills on […]

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Yam Export: Nigeria plans to earn $10 billion in 4-year

Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has disclosed that Nigeria has developed a blueprint to earn at least $10.0 billion annually from yam export in the next four (4) years. Speaking at the launch at Lilypond Container Terminal, Ijora, Lagos, Ogbeh disclosed that his ministry was persuaded by the comparative and competitive […]

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Hameed Ali Nigeria Customs Service, NCS

Customs unveil e-auction platform for vehicles

The Nigeria Customs Service on Monday unveiled an electronic auction platform by which cargoes that had been forfeited to the Federal Government could be sold to Nigerians through a transparent bidding process. The unveiling of the e-auction platform was performed at the headquarters of the NCS by the Comptroller-General of Customs, Col. Hameed Ali (retd.). […]

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Out of 17 million Nigerian vehicles, only 8 million vehicles are insured

Only eight million vehicles out of the estimated 17 million on Nigerian roads have genuine insurance cover, according to the Nigerian Insurers Association. Figures obtained by correspondent from the association indicated that the number of genuinely insured vehicles had risen from three million that was recorded in the Nigerian Insurance Industry Database in 2015. “The […]

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Patience Oniha appointed as DMO D.G

The Acting President, Professor Yemi Osinbajo, has approved the appointment of Mrs Patience Oniha as the new Director General of Debt Management Office (DMO). Minister of Finance Mrs Kemi Adeosun announced the appointment in Abuja, at the weekend. Oniha, who hails from Edo State, takes over from the former Director General, Dr Abraham Nwankwo, who […]

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Executive Chairman of Nigeria's Federal Inland Revenue Service (FIRS), Mr Tunde Fowler speaks during an exclusive interview with Reuters in Abuja, Nigeria, September 21, 2016. Photo taken September 21, 2016. REUTERS/Afolabi Sotunde

FIRS solution to eradicate tax evasion is…

The Executive Chairman, First Inland Revenue Service (FIRS), Babatunde Fowler, has said the introduction of Automatic Exchange of Information (AEI) could be the tool to eradicate tax evasion in the country. According to Fowler, who stated this at a workshop on automatic exchange of Information at the weekend in Lagos, jointly organised by FIRS and […]

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Demand for locally produced goods upsurges

Demand for locally produced goods and replicas soars high as consumers continue to search for cheaper alternatives to imported and genuine products which are higher in price. Investigations by correspondent revealed that the request for locally manufactured products as substitute to the expensive foreign goods cuts across most sectors of the economy. Also, as the […]

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2,505 accidents reported in organisations in 21 months – NSITF

Between January 2015 and September 2016, corporate organisations in the country reported 2,505 cases of occupational accidents/injuries, data from the National Social Insurance Trust Fund showed. The NSITF data indicated that six per cent of the reported cases were fatal, with some leading to permanent disabilities for the victims. Further analysis showed that the construction […]

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Yam Export: Mixed reactions from analysts, stakeholders

Nigeria’s decision to export yam to Europe has been received with mixed reactions from analysts and stakeholders in the export sector. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, had announced that 72 metric tonnes of yam were ready for export to the United Kingdom and the United States of America. The minister, […]

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