Business

Against the multiplicity of tax regime in the domestic economy, speakers at the 8th Wole Soyinka Centre Media Lecture Series have charged the Federal Government on the need to ensure an inclusive, simplified and automated tax regime in the country. The lead speaker, Adebimpe Balogun, who was the first female president of the Chartered Institute of Taxation of Nigeria (CITN), …

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The Federal Government said, yesterday, that procurement procedure and low revenue were responsible for the delay in capital releases to service the 2016 Budget. The Minister of Budget and Planning, Senator   Udoma Udoma, disclosed this, in Abuja, while briefing the Sen. Danjuma Goje-led   Senate Committee on Appropriations, on the  2016 budget implementation. He lamented the level of performance …

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Liquefied Natural Gas (LNG) from the Jubilee field is set to continue its dominance in the local gas market despite the indigenous product being more expensive than imported ones. Commercial gas production from the Jubilee field, which is processed at the Ghana National Gas Company’s Gas Processing Plant at Atuabo raised the prospects of a price war in the supply …

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The Securities and Exchange Commission (SEC) has sought the collaboration of media organizations in the country to ensure effective implementation of the Capital Market Ten Year Master Plan. Director General of SEC Nigeria, Mounir Gwarzo said this Tuesday during a meeting with Management of Nigeria Television Authority (NTA), in Abuja. The DG said a successful implementation of the plan is …

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International ratings agency, Fitch ratings has said Frontier Markets most especially in Africa are at risk in the last quarter of the year on the background of dwindling commodities prices and political crisis that has disrupted economy. The agency noted that the fall in global oil prices and insecurity were the main drivers for the downward trend in frontier market …

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The new board of Skye Bank Plc has declared plans to ensure that the bank is ably managed to health,saying that they will work to shore up its asset quality and normalize its cost to income ratio in the overall interest of the shareholders. Speaking at the Nigerian Stock Exchange(NSE)Friday, on the occasion of the visit of the new board of Skye Bankto the …

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In this time of economic slowdown investors may be asking them-selves if they have the appetite to stay in the market. Periods of recession or economic downturn are rife with uncertainty, dampened appetite for investments and heightened risk. The natural response in such periods may be to delay investing until conditions improve. In extreme cases, investors may pull out of …

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Friday Ekeoba The Lagos Chamber of Commerce and Industry, LCCI has said that the recent position of the Central Bank of Nigeria (CBN) to adopt a flexible exchange rate regime will improve the efficiency of forex allocation in the domestic economy. According to LCCI, the CBN’s move will amongst others also cause a reduction in the distortions that currently characterise the forex market and bring …

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As the nation battles dwindling oil price, the US dollar has continued chasing after the Naira against which it gains almost daily. Below is the Federal allocation for each state in the month of March 2016. ederal Allocation To Each State In March: . 1. Akwa Ibom – N8,945,542,072.36 2. Delta – N6,520,473,654.16 3. Lagos – N5,806,821,749.32 4. Rivers – …

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Africa’s richest man and Nigerian billionaire, Aliko Dangote, has announced that he would invest N2 billion to create jobs and end hunger for Borno State residents living in IDP camps. Dangote, the president of Dangote Group announced in company his daughter, while visiting the Dalori and Bakassi IDP camps in Borno State. According to the billionaire, the N2 billion would be spent on …

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