Business

Inflation rate drops by 0.86% in April

Again, Nigeria’s inflation rate measured by the Consumer Price Index, CPI, dropped by 0.86percent point in April 2018, the National Bureau of Statistics disclosed.

NBS in its CPI reports for April, suggest that the inflation rate stood at 12.48percent, away from the 13.34percent reported [...]

Wed, 23 May 2018


NCC give N50m research grant to universities

Nine researchers in Nigerian universities recently received N50million research grants from the Nigerian Communications Commission, NCC, to ensure the growth of the telecommunications industry in the country.

Speaking after the presentation of award letters to the Winners of the 2016, 2017 Rese [...]

Wed, 23 May 2018


Tax: Whistle blowers get N439million reward

 

Fourteen whistle blowers have received the sum of N439.27million as reward for providing reliable tips on individuals and companies that evaded their tax obligations to the federal government.

The whistle blower policy is a public interest instrument developed in December 2016 to [...]

Fri, 18 May 2018


FG to acquire 10,000 tractors through PPP

As part of its deliberate policy to promote mechanized agriculture in the country, the federal government has entered an agreement with John Deere tractors manufacturers to acquire 10,000 tractors through Public Private Partnership Programme.

The Minister of Agriculture and Rural Develo [...]

Fri, 18 May 2018


Bank’s credit to private sector drops by N140bn

The National Bureau of Statistics, NBS, reports that banks’ credit to the private sector fell by N140billion in the first quarter of 2018, dropping to N15.6trillion in the period.

The Bureau, in its latest banking sector report titled “Sectorial Breakdown of Credit, e-payment Channe [...]

Fri, 18 May 2018


FG eyes more revenue from tax

The Federal Government has said it would mobilise more revenues to drive its growth plan for the economy, by increasing it tax payers’ base beyond the current 19million.

The Minister of Finance, Mrs. Kemi Adeosun, stated this at a meeting with a World Bank Mission of 10 executive director [...]

Fri, 18 May 2018


Insurance sector not under threat - NAICOM

The National Insurance Commission, NAICOM, has dismissed insinuations of a looming collapse of five insurance companies operating in the country, insisting the listed companies are financially strong and solvent

The commission’s rebuttal comes after a media report that solvency ratio of f [...]

Fri, 18 May 2018


Contributory pension suffer setback in 23 states

Since the establishment of the Contributory Pension Scheme, CPS, over a decade ago, only 11 states including federal capital territory are said to have fully complied with the scheme.

Though the scheme is at different stages of implementation in 23 other states, CPS seem to have been completely [...]

Fri, 18 May 2018


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