Economy

Tax incentives alone will not attract investors – Expert

Mr Taiwo Oyedele, a tax expert, says only tax incentives to industries without addressing other challenges will not bring about the desired economic growth in Nigeria.

Informal economy not enough to handle Africa’s workforce explosion – IMF

Unemployment in Nigeria, sub-Saharan Africa’s largest economy, is running at more than 14 percent and climbing; in South Africa, the second largest economy, it is over 27 percent. For youth in both places, it is far more.

Kebbi govt generates N6.4bn IGR in 2 years

The Kebbi Government, on Wednesday said it would review its tax policy to raise its internal revenue collection from the “meager” N6.4 billion it generated in the last two years.

South Africa no-confidence vote outcome means status quo for rating – S&P Global

South African President Jacob Zuma’s survival in a parliamentary no-confidence vote will not impact the country’s downgrade-threatened credit rating, the S&P Global agency said on Wednesday.

2017 budget not enough for economic devt – Osinbajo

Acting President Yemi Osinbajo has said that the N7 trillion federal budget for 2017 is not sufficient to facilitate the desired economic development in the country, hence the government was making the investment climate profitable and easy for private sector involvement.

Nigeria’s creditworthiness improved with stronger economic outlook – UBS

UBS Wealth Management’s Chief Investment Office (CIO) has launched a new report on Africa’s sovereign credit prospects, an important benchmark used to evaluate the risk of investing in a country.

Grant tax relief to industries operating in Nigeria – Broker begs fed govt

Chief Angus Uzoamaka, an Abuja-based insurance broker, has urged the Federal Government to consider tax relief for industries operating in Nigeria in order to boost economic development.

Fast-track manufacturing sector growth – expert tells govt

A financial expert, Prof. Sheriffdeen Tella, has urged the Federal Government to fast-track the growth of the manufacturing sector through the provision of infrastructure and the provision of credit.

Fed govt targets 500,000mt cocoa production by 2021

As part of its diversification agenda, the Federal Government has set plans in motion to boost the nation’s cocoa production capacity to about 500,000 metric tonnes by 2021.

US economy adds 209,000 jobs in one month

Those hoping that the US dollar would be thrown a lifeline may be in luck, following the news that the United States added another 209,000 jobs to its economy in July.

We will tax first class and business class air tickets – Adeosun

Kemi Adeosun, Minister of Finance, says the Federal Government has signed a policy to tax first class and business class air tickets alongside other luxury goods.

We are already moving out of economic recession – Udoma

The Minister of Budget and National Planning, Senator Udo Udoma, on Thursday said that the country is already moving out of economic recession.

Threats to Nigeria’s economic recovery high – IMF

The International Monetary Fund has predicted that the Nigerian economy will be out of recession this year with growth of 0.8 per cent though it says risks to the recovery remain high.

Fed govt grants tax holiday to 27 industries

The Federal Executive Council on Wednesday approved the inclusion of 27 enterprises to the list of pioneer industries and products that would enjoy pioneer status under the Industrial Development Income Tax Relief Act.

Recent Stories

Panic in Imo as hotelier dies

Residents of Imo State are presently gripped with fear over the mysterious death of the owner of Fancy Hotel, Umugwuma, Owerri, Mr Christogonus Aguwa Osuagwu, in Abuja on Monday.
The governor of Ogun State, Dapo Abiodun, has commiserated with the people and government of Lagos State over the unfortunate explosion that claimed scores of lives in Lagos yesterday.

Governor Abiodun: How I begged President Buhari to shift Ogun lockdown

Dapo Abiodun, Ogun state governor, says the lockdown of the state as directed by President Muhammadu Buhari would commence on Friday.

Coronavirus: JNI condemns misleading preaching of some Islamic clerics

The Sultan of Sokoto, Muhammad Abubakar, has described as unfortunate and misleading preaching by some Islamic clerics on government’s directives for citizens to stay home.

FRSC shuts of drivers licence processing centres

The Federal Road Safety Corps (FRSC) has ordered the shutdown of Driver’s Licence Centres (DLCs) nationwide. This follows the movement restriction imposed by the federal government and some state governments to prevent the spread of COVID-19.
The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor E.A Adeboye, on Monday donated some medical supplies to the Lagos State government to support its quest to effectively contain the coronavirus pandemic in the state.

Pastor Adeboye donates surgical masks, hand gloves to Lagos

The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor E.A Adeboye, on Monday donated some medical supplies to the Lagos State government to support its quest to effectively contain the coronavirus pandemic in the state.