Economy

The Federal Government of Nigeria has confirmed plans to increase excise tax on tobacco products from 30 per cent ad-valorem to 50 per cent as part of measures to control tobacco smoking in the country. Dr Mangai Malau, Head, Tobacco Control Unit, Noncommunicable Disease Division, Federal Ministry of Health disclosed…

Report  from the National Bureau of Statistics (NBS) says inflation rose for the third consecutive month as it increased by 13bps to 22.04% y/y from the February reading of 21.91% y/y. The core inflation was the primary driver of the surge in headline numbers, even as food inflation recorded a…

Omolola Ajobiewe The Nigerian Maritime Administration and Safety Agency (NIMASA) has noted that while the country awaits a blue economy, a cohesive national policy to fully kick into gear, the country must for a starter become blue ambassadors, advocate for it. Speaking at the Centre for Financial Journalism, the Bullion…

The International Monetary Fund (IMF) said on Tuesday that the rising debt levels among countries are currently limiting their ability to respond to new economic challenges. This is just as the Fund sketched a bleak picture of what is in store for the global economy, estimating that growth will slow…

The International Monetary Fund on Tuesday backed the recent monetary tightening policy of the Central Bank of Nigeria (CBN), urging further tightening by Central Banks to check the global rising inflationary pressures. The Fund made the recommendation in its Global Financial Stability Report which was released on Tuesday at the…

The Management of the Nigerian Maritime Administration and Safety Agency (NIMASA),and the Nigerian Communications Commission (NCC), have agreed to work closely with relevant stakeholders as NIMASA inches closer to developing a regulatory framework to provide operational guidelines for Submarine Cable and Pipeline Operators in Nigeria. Officials of both organs of…