Economy
FG, States, LGs Share N903bn for Sept 2023
The Federation Account Allocation Committee (FAAC), shared a total sum of N903.480 billion to the three tiers of government as Federation Allocation for the month of September, 2023. The meeting was chaired by the Minister of Finance and Co-ordinating minister of the Economy, Mr. Wale Edun. From the stated amount…
Read More »Elumelu wants NAICOM to raise capital base for Non-life companies to N30b, N1b to re-capitize insurance brokers
Chairman of Heirs Holding, Tony Elumelu has called on National Insurance Commission (NAICOM) to raise the capital base of Non-life insurance companies to N30billion and N20 billion for life insurance firms. Elumelu who spoke at the National Insurance Conference 2023, with the theme: ‘Redefining Safety: Insurance solutions for public buildings…
Read More »FG proposes N26.01trn for 2024 fiscal year
The Federal Government has proposed the sum of N26.01 trillion for the 2024 appropriation based on oil price benchmark of $73.96 and 21 per cent interest rate. Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this to State House Correspondents at the end of the Federal Executive Council (FEC)…
Read More »FG partners NESG to attract foreign investment in Water Sector
The Federal Government has announced it partner with the Nigerian Economic Summit Group (NESG), to propel the Water Resources and Sanitation Sector towards achieving its objectives. Minister of Water Resources and Sanitation, Prof. Joseph Terlumun Utsev disclosed this on Wednesday, at a meeting with members of NESG. Prof. Utsev stressed…
Read More »Nigeria’s inflation jumps by 3.18% to 25.80% in August 2023
Concisedaily News– Nigeria’s headline inflation rate rose by 172bps in August reaching 25.80%y/y, a 29bps to 3.18% month-on-month increase from July’s rate of 24.08% y/y. In the latest release of the Consumer Price Index (CPI) figures by the National Bureau of Statistics (NBS), a noteworthy surge was observed in the…
Read More »Safety, security, unregulated fishing, marine tourism, top of my agenda – Oyetola
The Honourable Minister of the Marine and Blue Economy, His Excellency Adegboyega Oyetola, has stated that tackling illegal, unreported and unregulated (IUU) fishing, harnessing marine tourism, safety and security are top of the agenda of his administration as Minister of the newly created Ministry of Marine and Blue economy. He…
Read More »FG won’t borrow from anywhere now – Finance Minister
The Federal Government has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation. The Minister of Finance and Coordinating Minister for the Economy, Chief Wale Edun, revealed this at the end of the inaugural Federal Executive Council meeting…
Read More »CAC says plan to delist tax-defaulting companies not to generate funds
The plan by the Corporate Affairs Commission (CAC) to delist registered companies that had been failing to file their tax returns was not designed to generate funds for the corporation, CAC’s Registrar-General/Chief Executive Officer, Alhaji Garba Abubakar said in Abuja on Monday. “About 100,000 business names and 10,000 incorporated trustees…
Read More »Nigeria: FG denies plans to increase taxes
The Federal Government of Nigeria has denied any plan to increase taxes or add to the burdens of the country’s tax paying citizens. The Chairperson, Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, said this on Tuesday while reacting to unconfirmed reports of government’s plans to increase…
Read More »Nigeria’s inflation jumps by 1.29% to 24.08% in July 2023
The National Bureau of Statistics (NBS) said Nigeria’s headline inflation rate increased to 24.08 per cent in July 2023, a 1.29 per cent points higher compared to the 22.79 per cent recorded in June. NBS disclosed in its Consumer Price Index (CPI) and Inflation Report for July , which was…
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