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Latest News in Nigeria - Page 77

Why Nigeria's Foreign Debt Rises To N30trn- Report

Nigeria’s Debt Servicing Rises By 69% in H1, Raising Concerns About Economic Stability

Debt Servicing Increases 69% in H1 2024 Nigeria’s debt servicing payments surged by 69% in the first half of 2024, reaching a staggering N6.04 trillion, up from N3.58 trillion during the same period in 2023. This sharp increase highlights the mounting financial

October 6, 2024

Dangote Refinery: NNPC Boss Denies Owning Blending Plant In Malta

Business·FEATURES·News·Oil & Gas

Why Dangote Refinery Must Not Become Another Monopoly

Launching the Dangote Refinery and Petrochemicals is a milestone in Nigeria’s petroleum industry. After 10 years of development, this refinery promises to breathe new life into a sector plagued by inefficiencies, from dormant public refineries to expensive fuel imports and subsidies. The

October 6, 2024

Nigeria Needs Improved Security, Investment To Achieve Over 2 mbpd Crude Oil Production – Report

Business·News·Oil & Gas

Naira-For-Crude Initiative Begins As Officials Remain Optimistic

The Nigerian Federal Government announced that it has officially begun selling crude oil and refined petroleum products in naira, an initiative that took effect on October 1, 2024. The move is aimed at reducing pressure on the country’s foreign exchange reserves and

October 6, 2024

Business·News

Taxing The Poor Won’t Make Nigeria Wealthy, Says Taiwo Oyedele

Nigeria Must Shift Away from Taxing the Poor The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has issued a stern warning: Nigeria will not achieve wealth by taxing the poorest citizens. Speaking at the Integrated National Financing

October 6, 2024

Imo, Zamfara, Abia Record Lowest VAT In August

Business·News·Oil & Gas

List Of 63 Items Exempted From VAT In New Fiscal Reforms

The Federal Government of Nigeria has recently announced a significant update to its fiscal policy by exempting 63 items from Value-Added Tax (VAT). This move is part of the government’s broader strategy to implement tax reforms aimed at stimulating economic growth and

October 5, 2024

Russian Government Denies Involvement In Nigeria's Hunger Protest Allegations, Blames US, UK Of Meddling In Nigeria’s Internal Affairs

News·Politics·World News

Russia Denies Involvement In Nigeria’s Hunger Protest Allegations, Blames US, UK

The Russian government has firmly denied any involvement in the recent Hunger Protest that erupted in Nigeria. Accusations have surfaced linking Russia to the protests, with claims that the use of Russian flags by protesters indicates interference by the Russian Federation. Russia,

October 5, 2024

NGX Set To Lose N60bn As MRS Oil Nigeria Plc Plans To Delist Shares

Business·Markets·News

Equity Market Declines By 0.95% As Investors Lose N539bn In Nigeria

Nigeria’s equity market saw a sharp decline of 0.95% during the holiday-shortened trading week ending on Friday, October 4. The dip led to an estimated N539 billion loss for investors, driven largely by a sell-off in industrial and banking stocks. Despite some

October 5, 2024

Business·News·Oil & Gas

Naira-for-Crude Deal Delayed Despite October 1 Deadline

Naira-for-Crude supply yet to commence The much-anticipated Naira-for-Crude deal between the Nigerian National Petroleum Company Limited (NNPC) and the Dangote Petroleum Refinery, expected to start on October 1, 2024, has been delayed. As of Thursday, October 3, crude supply in exchange for

October 4, 2024

How Nigeria's FX Reserves Dropped By $1.3bn– Report

Business·Markets·News

Dollar’s Share of Global FX Reserves Falls By 1.46% As Nations Seek Diversification

The dollar’s dominance in global foreign exchange (FX) reserves took a slight dip in the second quarter of 2024, with its share dropping by 1.46 per cent compared to the previous quarter. According to the International Monetary Fund (IMF), this shift is

October 4, 2024

Federal Government Delays NYSC Allowance Increase, Corps Members Paid ₦33,000 Instead Of ₦77,000

Business·News

Despite N77,000 Approval, FG Pays N33,000 Allowance, Corps Members React

Corps Members Disappointed as FG Pays Old ₦33,000 Allowance The Federal Government has surprised many by paying the National Youth Service Corps (NYSC) members their old monthly allowance of N33,000 for September, despite earlier announcement that the allowance has been increased to

October 4, 2024

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Latest News in Nigeria - Page 77

Nigeria’s Debt Servicing Rises By 69% in H1, Raising Concerns About Economic Stability

Why Dangote Refinery Must Not Become Another Monopoly

Naira-For-Crude Initiative Begins As Officials Remain Optimistic

Taxing The Poor Won’t Make Nigeria Wealthy, Says Taiwo Oyedele

List Of 63 Items Exempted From VAT In New Fiscal Reforms

Russia Denies Involvement In Nigeria’s Hunger Protest Allegations, Blames US, UK

Equity Market Declines By 0.95% As Investors Lose N539bn In Nigeria

Naira-for-Crude Deal Delayed Despite October 1 Deadline

Dollar’s Share of Global FX Reserves Falls By 1.46% As Nations Seek Diversification

Despite N77,000 Approval, FG Pays N33,000 Allowance, Corps Members React

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Air Peace Denies “Dumping” Passengers in Barbados, Blames Immigration Authorities

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