Tag: #NigeriaEconomy
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NAIRA ENDS WEEK STRONGER, GAINS AGAINST DOLLAR
CBN reforms boost confidence as local currency posts steady week-long rally The naira wrapped up the week on a positive note, appreciating further against the U.S. dollar at the official market to close at ₦1,386.55/$1 on Friday. Data from the Central Bank of Nigeria (CBN) show the currency gained ₦10.43, a 0.7% improvement from Thursday’s…
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LIRS SHIFTS EMPLOYERS’ TAX FILING DEADLINE TO FEB. 7
More time for businesses as Lagos tax office grants one-week extension The Lagos State Internal Revenue Service (LIRS) has given employers a short breather, extending the deadline for filing annual tax returns from February 1 to February 7. LIRS Chairman, Dr Ayodele Subair, said the move is to help employers submit accurate and complete returns,…
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LOW-INCOME INVESTORS URGED TO PICK SAFE, REGULATED OPTIONS
Experts say low-risk investments are key to protecting income amid Nigeria’s economic challenges Financial and economic specialists are urging Nigerians—especially low-income earners—to prioritise regulated, low-risk investments to safeguard their earnings during tough economic times. Prof. Wale Oni, an agricultural economist at the University of Ibadan, stressed that oversight by the Securities and Exchange Commission (SEC)…
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FCT CONTRACTORS DEMAND PAYMENT OF N5.2BN DEBT FROM WIKE
Contractors warn of protests as unpaid bills strain families and livelihoods. Contractors working on FCTA projects have urged Minister Nyesom Wike to settle over N5.2 billion owed, saying delayed payments are causing severe hardships. Speaking at a news conference in Abuja, Adebola Benson, Chairman of Indigenous Contractors, said many members are struggling to provide for…
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₦4TRN DEBT: CONTRACTORS STORM ABUJA, WARN OF ECONOMIC FALLOUT
“Pay us for work done, or the economy pays the price.” That’s the message from indigenous contractors who resumed protests in Abuja over unpaid federal projects worth about ₦4 trillion. Members of the All Indigenous Contractors Association of Nigeria (AICAN) barricaded the Ministry of Finance, saying delays in settling bills from the 2024 budget are…
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MAGBO COURTS GLOBAL INVESTORS IN TURKEY FOR NIGERIA
From Istanbul to Abuja, investment talks are heating up President of the Nigerian Community in Turkey, Prince Magbo, has led high-level investment discussions with international business leaders to attract fresh capital into Nigeria and boost economic growth. Prince Magbo met with Mrs. Ebru Kain, Chair of Kain Real Estate, Food and Takile Investment, and Mrs.…
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SHETTIMA TAKES NIGERIA TO DAVOS: 2026 ECONOMIC OUTLOOK ON GLOBAL STAGE
Nigeria is set to make its pitch on the world’s biggest economic platform. Vice-President Kashim Shettima will present Nigeria’s 2026 economic outlook at the 56th World Economic Forum (WEF) in Davos, Switzerland, where global leaders, investors and policymakers converge. According to his spokesman, Stanley Nkwocha, Shettima has arrived in Davos to lead Nigeria’s delegation and…
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NO GOLD REFINERY SAGA: FG CLARIFIES LAGOS CONTROVERSY
Amid rising claims and counterclaims, the Federal Government has moved to set the record straight over reports of a federally owned gold refinery in Lagos. The Ministry of Solid Minerals Development on Sunday dismissed allegations by the Northern Elders Forum (NEF) that the government violated the federal character principle by siting a gold refinery in…
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LAGOS PORTS BUZZING WITH 20 SHIPS UNLOADING ESSENTIAL GOODS
The Nigerian Ports Authority (NPA) has announced that 20 ships are currently discharging petroleum products and food items at Lagos ports including Apapa, Tincan, and Lekki. Cargo ranges from frozen fish and petrol to bulk sugar, fertilizers like urea, and construction materials such as gypsum. Additionally, two ships carrying bulk wheat and containers have arrived…
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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…
