Tag: #EconomicGrowth
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NIGERIA TAKES STRONG STEP WITH 15% TAX ON IMPORTED PETROL AND DIESEL TO BOOST LOCAL REFINING
Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has praised the Federal Government’s decision to impose a 15% import tax on petrol and diesel, calling it a move that will grow the economy, promote local production, and create jobs for youth. ECCIMA President Sir Odeiga Jideonwo highlighted the negative impact of excessive importation on…
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FEC APPROVES MAJOR AVIATION UPGRADES: PORT HARCOURT AIRPORT CONCESSION, BIOMETRIC SECURITY, AND INFRASTRUCTURE BOOST
The Federal Executive Council (FEC) has greenlit key projects to modernize Nigeria’s aviation sector, including the concession of Port Harcourt International Airport and introducing biometric verification systems across all airports. Aviation Minister Festus Keyamo highlighted approvals for maintenance contracts at five major international airports—Abuja, Lagos, Kano, Port Harcourt, and Enugu. Further enhancements include installing advanced…
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NIGERIA CUSTOMS SERVICE KADUNA COMMAND HITS RECORD ₦5.16 BILLION REVENUE IN OCTOBER 2025
The Nigeria Customs Service (NCS), Kaduna Area Command, has scored its highest-ever monthly revenue by generating ₦5.16 billion in October 2025—an impressive 96% above its target and 196% target performance. The command’s Public Relations Officer, CSC Ridwan Yusuf, announced this milestone reflecting a 61.89% year-on-year increase compared to the ₦24.06 billion collected from January to…
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NIGERIA-SOUTH AFRICA COOPERATION MARKS AFRICA’S STRONG VOICE AT G20
The United Nations Development Programme (UNDP) has praised the growing cooperation between Nigeria and South Africa as a crucial platform ensuring Africa’s priorities are heard in global decision-making arenas. Varsha Redkar-Palepu, UNDP Deputy Resident Representative, spoke at the G20-Africa outreach meeting on industrialisation and agriculture held in Abuja, ahead of the G20 Summit in Johannesburg…
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FUEL PRICE ALERT: EXPERTS WARN 15% IMPORT DUTY ON PETROL AND DIESEL MAY PUSH PRICES HIGHER
Energy experts are raising alarms over the Federal Government’s recent approval of a 15 percent import duty on petrol and diesel, cautioning that consumers could soon face a fuel price hike of up to N150 per litre or more. Dr. Ayodele Oni from Bloomfield Law Practice highlighted that while the policy aims to protect and…
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NAIRA SHINES BRIGHTER, GAINING N15 AS IT CLOSES STRONGER AT 1,421.73 TO DOLLAR
The Naira extended its winning streak on Friday, ending the trading week stronger at N1,421.73 per dollar in the official foreign exchange market, according to data from the Central Bank of Nigeria (CBN). This marks a 1.07% or N15.23 appreciation from N1,436.97 recorded earlier in the week, continuing a steady upward trend that began Monday.…
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NEW NIGERIAN TAX REGIME TO LIGHTEN BURDEN ON YOUTHS AND SMALL BUSINESSES
Good news for Nigerians: starting January 1, 2026, the new tax system introduced by President Bola Tinubu’s administration is set to ease the tax burden on the majority of people, especially the youth and small business owners. Dr. Tope Fasua, the President’s Economic Adviser, revealed during the Youth National Discourse in Abuja that those earning…
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GERMAN CHAMBER REAFFIRMS SUPPORT FOR NIGERIA’S VOCATIONAL TRAINING AND ENTREPRENEURSHIP
The Chamber of Industry and Commerce (IHK) Giessen-Friedberg, Germany, has renewed its commitment to boosting vocational education, entrepreneurship, and institutional growth in Nigeria. Dr. Matthias Leder, the IHK’s CEO, shared this during a virtual media conference highlighting two decades of strong Nigeria-Germany collaboration. Since 2005, the partnership has trained over 600 Nigerians, advancing youth skills,…
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KATSINA AIMS TO BOOST REVENUE TO N140 BILLION BY 2026
Katsina State is setting its sights on increasing its internally generated revenue (IGR) to about N140 billion by 2026, according to the state government. Speaking at the launch of the ‘State of States 2025 Report’ by BudgIT in Abuja, Commissioner for Budget and Economic Planning, Alhaji Malik Anas, shared the ambitious plan. Anas revealed that…
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MINISTER DELE ALAKE REPORTS RECOVERY OF 90 ILLEGAL MINING SITES, URGES TRADERS TO SUPPORT MINING REFORMS
Minister of Solid Minerals, Mr. Dele Alake, announced on Thursday in Akure that his ministry has successfully recovered over 90 mining sites from illegal miners nationwide. Speaking at the South-West stakeholders’ dialogue, Alake revealed that more than 300 illegal miners have been arrested, with 50 prosecuted and over 20 convicted under the current administration. In…
