The World Bank has projected a slow growth in Nigeria’s economy in 2018 in its latest report. According to the report on Nigeria’s bi-annual Economic Update on Wednesday, the country’s Gross Domestic Product growth is expected to hover slightly below two per cent in 2018, largely driven by non-oil industry and services. In the report, […]
Read More Further upward acceleration of global inflation from record low levels may impair efforts in emerging and developing economies such as Nigeria, to sustain the low inflation environment achieved over the past several decades, the World Bank has said. The Bank disclosed this in its ground-breaking examination of inflation in the emerging and developing world released […]
Read More
The federal government has been urged to harness its huge maritime potential as the sector offers huge opportunities for the country to shore up its Gross Domestic Product (GDP). The National Chairman of the Nigerian Institute of Marine Engineers and Naval Aechitects (NIMENA), Mr Henry Unuigbe, stated this in Lagos while speaking at the 7th […]
Read More
The Federal Inland Revenue Service has expressed its commitment to increase government’s revenue through taxation by 20 per cent before the end of the 2018 financial period. As part of efforts to achieve this target, the FIRS said it had started introducing some initiatives, according to a communiqué issued after a recent meeting of the […]
Read More
The Lagos Chamber of Commerce and Industry has expressed concern over increase in population against declining Gross Domestic Product as shown in the report of the second quarter 2018. In its quarterly report, the National Bureau of Statistics had stated that the GDP growth in the second quarter was 1.5 per cent, compared to the […]
Read More
The Debt Management Office has set the maximum limit of $6.25 billion (₦1.906 trillion) for the Federal Government’s borrowing in the 2018 fiscal year. The DMO, in the 2017 Report of the Annual National Debt Sustainability Analysis released on Wednesday, said the $6.25 billion was proposed to be sourced equally from the domestic and external […]
Read More Chairman of the Joint Tax Board, JTB, Mr. Tunde Fowler has commended Governor Ifeanyi Ugwuanyi of Enugu State for putting in place a proficient and “unparalleled” tax regime, which has ensured that the state exceeded the 15 per cent tax revenue to GDP benchmark suggested by the United Nations for the funding of budgets. The […]
Read More
Following its expectation of rebound in non-oil sector and oil sector low base push, Afrinvest (West Africa) Limited has predicted Gross Domestic Product (GDP) growth to accelerate to 2.1 per cent in 2018 from its full year estimate of 0.7 per cent for 2017. The company stated that major downside risks to its forecast include […]
Read More
The Federal Government is targeting 15 per cent tax contribution to the Gross Domestic Product (GDP) through improved tax collection strategies, the Minister of Budget and National Planning, Senator Udo Udoma, has said. Udoma stated this in Lagos at the private equity summit organised by Udo Udoma and Belo-Osagie Law Firm with the theme “Nigeria: […]
Read More
The Lagos Chamber of Commerce and Industry (LCCI) has predicted a Gross Domestic Product (GDP) growth rate of between three and four per cent for the country in 2018. This is even as it projected that the external reserves would hit $40 billion mark based on the global oil price averaging $50 per barrel. In […]
Read More
The Statistician-General of the Federation and Chief Executive Officer (CEO) of the National Bureau of Statistics (NBS), Dr. Yemi Kale, has foreclosed any immediate plans to rebase the country’s Gross Domestic Product (GDP). Kale stated this at a forum on Effective Reporting of the Travel and Tourism Industry Using Appropriate Date organised by the Association […]
Read More
Driven by increased crude oil production and sustained growth in agricultural output, Nigeria’s economy grew by 1.4 percent to N29 trillion in the third quarter of the year (Q: 3 2017), from 0.7 percent in the second quarter of the year (Q2: 20170). National Bureau of Statistics, NBS, disclosed this, yesterday, in its Gross Domestic […]
Read More
