Tax: Buhari appoints Muhammad Nami as FIRS boss
President Buhari decided against extending the tenure of Babatunde Fowler as the chairman Federal Inland Revenue Service (FIRS).
FG owing road contractors N306 billion as public transport owners back toll gate
Contractors working on the federal road projects are being owed N306 billion by the Federal Government.
New brands of local rice flood major markets, as prices of major items drop
Latest Nairametrics Food Price Survey reveals more brands of local rice have now flooded major markets in the country helping to drive down prices of local rice.
Over 100 million Nigerians earn less N700 daily – UK’s EFInA
The United Kingdom’s Enhancing Financial Innovation and Access (EFInA) has disclosed that over 100 million Nigerians earn less than N700 per day.
PMI: Nigeria’s manufacturing sector gains momentum in November
Nigeria’s manufacturing sector has continued to gain momentum as it rallied to build on the growth recorded in the third quarter of 2019.
Analysis: FCMB is running out of time
Despite some of the transformations currently being recorded in the bank, success and consistency seem to be eluding it.
Telecommunications: The bright spot in a fragile economy
The positive momentum in Nigeria’s telecommunications sector continued into the month of October.
2020 Budget: An end to Nigeria’s budget cycle conundrum?
The Senate and the House of Representatives in a joint session passed the 2020 Appropriation Bill that was presented by the President on 8 October.
Nigeria’s Entertainment & Media industry to hit $10 billion by 2023 – PwC
Nigeria’s Entertainment and Media industry is expected to rise from $4.46 billion in 2018 to $10.5 billion by the end of 2023.
Genuine motor insurance drops by 41.8% in 3 years
The number of motorists with genuine motor insurance covers in Nigeria has reduced by 41.86% from 4.3 million to 2.5 million by September 2019.
Why more African countries need to offer dual citizenship opportunities to African-Americans
For many years, black people in the diaspora, particularly black Americans always found the African continent very intriguing.
Penalties: NSE makes over N143.6 million from banks, others in 2019
NSE boosted its revenue with N143.6 million fines imposed on listed companies across banks, manufacturing, insurance sectors, among others.
Data War: MTN edges out Airtel, first time in 5 months as more subscribers...
Competition for internet subscribers in Nigeria took a different turn as Nigeria’s largest mobile telecommunication company, MTN, led the way.
Debt Servicing: Nigeria pays $1.12 billion to World Bank, others in 10-month
Nigeria’s public debt stock rose to N25.7 trillion in June 2019 and the payment for servicing the debt continues to be a major source of concern.
Banking sector NPLs down, loans up
NPL ratio for the Nigerian banking sector was down 2.6ppts q/q to 6.7% in Q3 2019 from 9.3% in Q2 2019.
NPL: Banks recover N738.15 billion from oil and gas sector in Nigeria
The Central Bank of Nigeria’s drive to solve liquidity challenges in Nigeria’s financial sectors is already paying off as banks recovered N738.15 billion
Nigeria’s Bluechips spend N114 billion on advertising, marketing in 2019
According to the data, ABMP spend annualized for 2019 is about N114 billion compared to N116.394 billion spent in 2018 and N101.8 billion in 2017.
Lessons for Nigeria from Saudi Aramco
The Saudi Aramco (the Saudi NNPC) is, in my mind, the best example of how a state-owned energy company should be run.
Nigeria generates N876.09 billion VAT in 9-month, as revenue shortfall poses threat
The latest report released by the National Bureau of Statistics disclosed that Nigeria generated a total sum of N876.09 billion as VAT in 9 months.
Pension: Low RSA balances – a subtly growing concern
Not less than 109,284 workers within the Nigerian labour force have quit the Contributory Pension Scheme (CPS) as of the end of June 2019.
Why you should be worried about the latest drop in external reserves
The CBN confirmed the external reserves stood at $39.8 billion, the first time it has dropped below $40 billion in almost two years.
Dangote Sugar Refinery: Revenue recovers but cost pressures remain
Dangote Sugar in its recently released 9M 2019 financials reported a marginal y/y growth in revenue to N117.4 billion in 9M 2019.
Government reviews stamp duty charge
Federal Government has reviewed the N50 stamp duty charge on electronic payments in the country following public outcry.
The diaspora holds the key to improvement in Africa
The staggering revenues and the Human Capital bring to the table the value of the Diaspora to Nigeria.
Budget: Bill to compulsory 40% allocation to capex passes second reading
Yesterday, at the lower chamber of the National Assembly, legislation a Bill to compulsory 40% allocation to capex passes second reading.
How the Chinese are taking over Nigeria’s economy
The investments of Chinese companies in Nigeria worth over $20 billion because the country is a competitive destination for the establishment of industries.
Banks’ credit to government decline by N1.4 trillion
Credit to the private sector hit N25.8 trillion in October 2019, as credit to governments declined by N1.4 trillion to N9.05 trillion.
No surprise as MPC retains policy rates, balancing effects between rising inflation and tepid...
The Monetary Policy Committee (MPC) of the CBN maintained status quo on all policy rates at the meeting which ended the 26th November 2019.
Capital flows to Nigeria down for the second consecutive quarter by 7.8% q/q
The publication from the NBS disclosed that capital imported into the Nigerian economy declined in the third quarter by 7.8%.
Foreign investors dump 29 states in Q3
Foreign investment into Nigeria in the third quarter of 2019 dropped to $5.36 billion compared to $5.82 billion recorded in the second quarter.