Import duty waiver on rice, beans, others start next week – FG
The guidelines for the suspension of customs duty and taxes on imported food items are to commence next week, the Federal Government announced on Tuesday. In July the Federal Government…
CBN to commence FX Dutch auction system wednesday following rise in dollar demand
The Central Bank of Nigeria (CBN) says it will commence a Retail Dutch Auction System to address foreign exchange fluctuations in the country’s forex market. The apex bank disclosed this…
₦6.2tn Supplementary Budget: FG’s infrastructure investment not enough — Minister
Minister of Budget and National Planning, Atiku Bagudu on Friday said the country has not invested enough in infrastructural development. According to him, several problems being encountered recently by Nigerians…
Tinubu inaugurates Dangote, Okigbo, Agbaje as PECC members | Rolls out economic stabilisation programme
President Bola Tinubu on Thursday inaugurated the Presidential Economic Coordination Council (PECC) and launched the Economic Stabilization Programme to ensure food security, improved power supply, enhanced social welfare and healthcare,…
Tinubu exempts SMEs, farmers, manufacturers from paying withholding tax
The Federal Government has approved the exemption of small businesses, manufacturers and farmers from paying withholding tax as a way of reducing the tax burden on businesses. It also introduced…
Report: CBN reforms boost diaspora remittances by $172m in a month
The Central Bank of Nigeria (CBN) has reported a $172m increase in direct remittances in one month. The latest CBN data showed that the remittances totalled $138.56m in January, $39.14m…
National debt up by ₦24.33trn in three months, now ₦121.67trn
Nigeria’s total public debt is now ₦121.67 trillion ($91.46 billion), the Debt Management Office (DMO) said Thursday. The DMO said as of March 31, 2024, the country’s domestic and external…
Foreign portfolio investors rush back to Nigeria, as market share rises to 28-month high
The Central Bank of Nigeria (CBN) monetary policies may have whetted the appetite of Foreign Portfolio Investors, FPIs, as fresh inflows amounting to N120.8 billion came into the market in…
Dangote postpones petrol supply date to July
The Dangote refinery has said its plan to release premium motor spirit into the market this month will no longer be possible. The President of Dangote Group, Aliko Dangote, told…
FG launches mineral resources decision support system
To boost the ease of doing business in the mining sector, the Federal Government has launched the Nigeria Mineral Resources Decision Support System (NMDSS). Launching the system, the Minister of…