President Bola Tinubu has approved a new investment in the energy sector to the tune of 100 million United States dollars. Permanent Secretary, Federal Ministry of Petroleum Resources, Ambassador Nicholas Ella, who made this known in a statement at the weekend, said the investment is part of efforts to ensure successful hosting of African Energy … Read more
The International Monetary Fund (IMF) has issued a stark warning to President Bola Tinubu, urging him to take decisive action to remove implicit fuel and electricity subsidies in Nigeria. In a recent report, the IMF highlighted the substantial impact of these subsidies, estimating that they would consume three percent of the nation’s Gross Domestic Product … Read more
The Presidential Fiscal Policy and Tax Reforms Committee (PFPTRC) intended to exempt 95% of operators in the informal sector from any form of taxation. The Taiwo Oyedele-led panel’s plan aims to reduce the burden of several taxes on small enterprises and low-income persons. Oyedele plummeted at the end of the PFPTRC’s close-out retreat in Abuja … Read more
Ahead of the release of March 2024 inflation statistics, Analysts have provided reasons why the Consumer Price Index (CPI), which measures inflation, will jump to about 32.15 percent from 31.7 percent in February, a 29-year high. According to available statistics from the National Bureau of Statistics (NBS), Nigeria’s annual inflation rate last reached current levels … Read more