Following a report by the committee on Local and Foreign Debts, the Nigerian Senate on Thursday approved a loan of $350 million requested for developmental projects in Ogun state. Presenting report, the committee chairman, Shehu Sani, Kaduna-APC, said the projects earmarked by the Ogun state government will boost the socio-economic development of the state. He […]
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Pan-African financial institution, United Bank for Africa Plc (UBA) has continued to make waves on the continent adding more laurels to its ever-increasing list of achievements. The Bank’s Group Head, Marketing and Corporate Communications, Bola Atta was recognised as the Top Marketing Professional in West Africa at the 7th Marketing World Awards (MWA) & Marketing 360 […]
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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 per cent Inflation Rate of 12.4 per cent Expenditure Estimates ================ The proposed aggregate […]
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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, the minister remarked that the leaks were just the beginning of what was likely to […]
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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, it is clear that we made the right decisions. President Buhari said at the session […]
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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 has been on a rise since August 2017 when it traded at $47.47. Members and […]
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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, Mr Geoffrey Onyeama. The Head of the UK delegation, Mr Emmanuel Finndoro-Obasi, said the team […]
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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 companies, including some government contractors that have never paid taxes, have already been identified and […]
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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 road. Steve Ayorinde, the state’s commissioner for information, said the order was to allow “stakeholders” […]
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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, including the International Monetary Fund, said the strategy would achieve a number of objectives that […]
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