It’s excessive, ill-timed! Bank directors reject 70% windfall tax
The Bank Directors Association of Nigeria has termed the proposed 70 per cent windfall tax on profits generated from foreign exchange transactions by banks as not only excessive but also…
Edun, Lokpobiri, Kyari in high level meeting over NNPC naira crude sales
The Minister of Finance and Coordinating of the Economy, Wale Edun, has initiated a high-level stakeholder meeting to implement President Bola Tinubu’s directive for the Nigerian National Petroleum Corporation Limited…
NUPRC set to amend domestic crude supply regulations
The Nigerian Upstream Petroleum Regulatory Commission is set to amend the Domestic Crude Supply Obligations Regulations 2023. The commission stated this in a notice signed by the Chief Executive of…
Dangote makes U-turn, commends NNPC over 60% supply of crude oil
In what appears a major shift from previous clam by the Dangote Refinery, the Group Chief Strategy Officer, Dangote Refinery and Petrochemicals Company, Aliyu Suleiman on Wednesday, stated that 60…
Forex: NAFEM records 30% rise in turnover to $4.34bn, as Naira depreciates 6%
The volume of dollar traded (turnover) in the Nigerian Foreign Exchange Market, NAFEM, increased month-on-month (MoM) by 30 percent to $4.34 billion in July from $3.33 billion in June. Analysis…
Dangote Refinery to sell remaining NNPC 12.7% stake – rating agency
The Dangote Refinery is planning to sell a 12.7 per cent stake in 2024 for loan servicing, Fitch Ratings, a credit rating agency says in a report released on Monday.…
FG spends $600m on fuel importation monthly – Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed that the country currently spends $600m on fuel importation monthly. He stated that the high import…
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…
Global stocks rebound after historic plunge
Most equities rallied Tuesday after the previous day’s global rout fuelled by US recession fears that have led to calls for the Federal Reserve to cut interest rates before its…
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