BUSINESS

TOO VAGUE? Here is a breakdown of N8.6 trillion 2018 Budget estimates

Budget size: N8.612 trillion (16 % higher than 2017 estimates)   Assumptions, projections ================== Benchmark crude oil price-US$45 per barrel Oil production estimate – 2.3 million barrels per day Exchange rate – N305/US$ for 2018 Real GDP growth of 3.5 ...

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Kemi Adeosun explains legality of offshore tax havens

The Minister of Finance, Mrs Kemi Adeosun, on Tuesday said offshore tax havens no longer offered robust protection against tax authorities, saying it is not all illegal. On questions relating to the recent leaks by Panana Papers and Paradise Papers, ...

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FRESH: Buhari’s full speech as he presents N8.6 trillion 2018 budget to NASS

President Muhammadu Buhari on Tuesday presented about N8.612 trillion as the 2018 Budget to a joint session of the National Assembly (NASS), saying the projected expenditure will drive rapid economic recovery. He said; “With the economic recovery made so far, ...

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Crude Oil hit 2 years high, sells at $64

As of 2pm on Tuesday, Brent Crude the international benchmark of crude oil traded at $64.01, the highest since President Muhammadu Buhari assumed office in May 2015. US West Texas Intermediate (WTI) traded at $57.30, its highest in months. Price ...

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UK to partner Nigeria on sophisticated fish farming, infrastructure

The United Kingdom (UK) and Nigeria are set to partner in the areas of “sophisticated” fish farming and infrastructure development. This was the outcome of the meeting between a UK Trade Delegation to Nigeria and the Minister of Foreign Affairs, ...

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800,000 companies on FG’s probe list over tax evasion

The Federal Government has begun a probe into 800,000 registered companies in the country over non-payment of tax. Kemi Adeosun, minister of finance, said this in an article she wrote and circulated to the media. According to her “over 800,000 ...

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Lagos government halts proposed Lekki Toll hike

The Lagos state government has temporarily halted the proposed toll hike on the Lekki-Epe Expressway and the Lekki-Ikoyi link bridge. The 49-kilometre Lekki-Epe corridor is being managed by the Lekki Concession Company, a purpose vehicle representing investors in the rebuilt ...

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Our debt management strategy would mitigate debt service risk – Adeosun

The Minister of Finance, Kemi Adeosun, has expressed confidence that the Federal Government’s revenue and debt management strategy would mitigate the country’s debt service risk and fast-track her development. The Minister, who welcomed the advice of Nigeria’s international development partners, ...

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Buhari approves committee to discuss minimum wage

Chris Ngige, minister of labour and productivity, says President Muhammadu Buhari has approved the membership of the proposed national minimum wage committee. Ngige, who briefed reporters on Thursday after meeting with the president, also said discussions with the affected parties ...

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Samsung Electronics names new CFO to manage its $68 billion cash pile

Samsung Electronics Co Ltd on Thursday announced a new chief financial officer (CFO) to be in charge of one of Asia’s biggest corporate cash piles. It said it would create a body within the firm to coordinate with tech affiliates. ...

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