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Nigerian power generation companies are calling for the government to take action against firms stealing electricity from the grid. They demand the identification, arrest, and prosecution of these offenders to protect the power sector.
Four major Nigerian banks have published details of over 321,000 dormant bank accounts following a CBN directive, raising privacy and economic concerns.
President Bola Tinubu announced that Nigeria plans to allocate $11.6 billion for debt servicing in 2026. He also expressed concern over Africa's low 2% share in global manufacturing value addition.
President Bola Tinubu has highlighted the opportunities within Nigeria's blue economy to attract global investors during his visit to Kenya. This initiative aims to enhance economic growth and investment in Nigeria's maritime resources.
President Tinubu praises the recent France-Nigeria business council meeting, highlighting that the partnership is now in the execution phase. This development is expected to boost jobs and economic growth in Nigeria.
Nigeria's crude oil production is reported at 1.49 million barrels per day, which contradicts the Federal Government's claim of 1.84 million. This discrepancy raises concerns about the accuracy of the government's reporting on oil output.
Petrol consumption in Nigeria increased by 10.78% in April, reaching 52.4 million litres despite a price hike. This rise comes as crude imports have significantly dropped by 95%.
President Bola Tinubu and other African leaders are advocating for a new economic order during the France-Africa summit in Kenya. The discussions aim to enhance collaboration among nations for sustainable development.
Stakeholders in Nigeria are advocating for a unified tax framework to enhance economic growth. This initiative is part of ongoing fiscal reforms aimed at strengthening the country's financial landscape.
British International Investment has partnered with Ecobank DRC to provide $30 million in financing for SMEs. This collaboration aims to boost economic growth and support small businesses in the region.
Nigeria's Finance Minister emphasizes the need to stop relying on borrowing for development. Instead, he advocates for tax reforms to create a sustainable fiscal system.
Oyedele said that the current tax regime had simplified tax payment, reduced the number of taxes and exempted low-income earners from payment of Personal Income Tax. The post New Tax Acts not just about raising revenue – Oyedele appeared first on Vanguard News.
Vice President Kashim Shettima supports the Federal Government's tax reforms as essential for Nigeria's economic growth. Oshiomhole advocates for increased taxes on the wealthy to enhance revenue.
Nigeria is intensifying efforts to enhance non-oil revenue through tax reforms. The focus is shifting from enforcement to encouraging voluntary compliance among taxpayers.
US consumer inflation reached a three-year high of 3.8% in April, driven by soaring energy prices amid geopolitical conflict. See the latest CPI data.
US consumer inflation has reached a three-year high, increasing to 3.8% year-on-year. This rise is attributed to the ongoing conflict in Iran.
A devastating fire at Kwara’s Mandate Ultra-Modern Market in Ilorin destroyed 24 shops. A suspected power surge caused the blaze affecting multiple busines
GBHub Africa has invested N150 million in Inyene Agro Processing Factory Ltd to enhance food security and nutrition. This initiative aims to support sustainable agricultural practices in Nigeria.
The naira showed stability in April despite a 30% drop in foreign exchange inflows. This was attributed to reduced import demand, which alleviated some pressure on the currency.
Security personnel foiled an armed robbery attempt at the TCN’s Ogbomoso transmission substation, repelling attackers. No staff were injured in the inciden
Tax experts reveal that Africa loses $89 billion each year due to illicit financial flows. They advocate for global tax reforms and enhanced transparency to combat this issue.
According to him, insecurity, high fertiliser prices, rising fuel costs and expensive farm operations are the major drivers of current food inflation. The post Food prices may drop by next harvest – Farmers association appeared first on Vanguard News.
Egypt has overtaken Nigeria on the Financial Times' list of fast-growing firms, marking the first time Nigeria has lost its top position in four years. This shift is attributed to the devaluation of the naira impacting Nigerian companies.
Gunmen abduct a businessman in Irawo, Oyo State, after trailing him from a market. A 10-year-old girl was also injured by gunfire during the kidnapping.
Nigeria's trade volume increased in Q1, with cargo throughput reaching 32.38 million tons. This growth is attributed to the operational impact of the Lekki Deep Sea Port and rising trade demand.
The naira's exchange rate against the dollar shows relative stability due to Central Bank interventions and increased foreign exchange inflows. Analysts remain optimistic about the currency's performance in the official market.
NNPC and NUPRC have significantly increased their remittances to Nigeria's treasury, contributing over N322 billion and $116.9 million. This surge follows President Tinubu's Executive Order 9 aimed at enhancing revenue generation.
Oil prices have surged to $105 despite ongoing tensions between the US and Iran. Markets appear unfazed by the geopolitical deadlock, indicating resilience in the face of uncertainty.
The Nigerian government is negotiating a new $1.25 billion loan with the World Bank. This follows a warning from the Accountant-General about potential rejection of loan facilities due to delays in approval and disbursement.
The naira experienced slight fluctuations against the dollar on May 12, 2026, in both the official and parallel markets. Traders are closely watching forex liquidity and demand pressures.