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UK invests $7.5 million to finance agriculture and boost food security in Nigeria

Over 2.6 million Nigerians enroll for online and in-person voter registration in two weeks – INEC

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UK government warns foreign students of deportation over visa overstays

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Business and economic news from Nigeria and around the world.

FG closes border to protect economic interests – Customs , Nigeria Customs service records N1.002trn revenue in 9 months , Nigeria’s decision to ban petrol delivery to border petrol stations is taking its toll , Border closure retaliation: Nigerian goods get dumped by West African countries

Nigeria’s decision to ban petrol delivery to border petrol stations is taking its toll

by Emmanuel Abara Benson

The effects of the ban on delivery of products to petrol stations situated along the country’s border towns are beginning...

NNPC, petroleum, Kyari, smuggling, , NNPC explains why kerosene price is not stable, NNPC, Why NNPC may sack depot managers in downstream sector , NNPC boss blames failure of refineries on negligence, says there are no excuses , No fuel scarcity during festive period - NNPC , NNPC advances commitment to meet domestic gas demands, NNPC to pay BCE $22.6 million over failed contract , Pipeline vandalism: NNPC GMD invited for questioning , Curbing the menace of smuggling of petroleum products, Amendment of Deep Offshore Act: NNPC allays fears of IOCs , New oil discovery to facilitate massive job creation – NNPC, Shell, NNPC lament Nigeria’s electricity deficit, FG gives reasons for fuel subsidy removal, discloses alternative to kerosene, NNPC makes $434.85 million from oil export sales in January, may suspend crude oil production

Pipeline vandalism: NNPC GMD invited for questioning

The Nigerian Senate summoned the GMD of the NNPC, Mele Kyari to appear before its Committee on Petroleum Resources.

land borders to be reopened soon, Finance, Ministaer, vow to recover AMCON debt through issuance of promissory notes, FG reiterates stance on IPPIS as ASUU threatens strike, Finance Minister, Zainab Ahmed identifies capital market as key driver for economic growth , Nigeria has paid $1.09 billion to service its debts in 2019 , Dividends on oil proceeds will be taxed - FG , State governments own most bad roads - Finance Minister says, Budget deficit increases by N351.98 billion, as FG misses revenue target, Economy: Funding MSMEs in Nigeria , Finance Bill: New tax regime to take effect from Jan 2 - FG , Again, Finance Minister argues that Nigeria is not in debt distress , ECOWAS: Single currency regime not kicking off in 2020 , FG: CBN holds N43 billion stamp duty charges collected by banks , FG may shift deadline to deactivate bank accounts without tax verification, Confusion as ministry and presidency disagree over Finance Act start date, 7.5% VAT: Implementation to begin Feb 1 – FG , Finance Minister: Nigeria to go into recession if ..., Foreign tech companies that will now pay tax to FGN: see the criteria

Dividends on oil proceeds will be taxed – FG

There is a move by the Federal Government to tax dividends paid from the profit of oil companies.

IATA raises alarm over excessive charges on Nigerian airlines, others

The IATA has termed the charges being paid by Nigerian and other African airlines excessive and a burden to their...

National Assembly approves Federal Government’s plan to borrow $11 billion in 2021, Senate urges FG to diversify from crude oil to natural gas production , Senate seeks textile importation ban , Senate receives six aviation sector bills from Buhari , PenCom: Constitute a board, NASS and pension operators tell FG, Nigeria’s total debt now N33trn —Senate, Senate confirms appointment of board members for NDIC, law reform commission, Senate to confirm reappointment of Danbatta as NCC boss, Senate investigates claims of NELMCO, AEDC over govt asset, Senate Investigate Banks over customers exploitation and high fees, 2021 Budget: Senate sets motion for budget defense, commences 2020 review, #EndSARS: States affected by hoodlums should get 1% VAT - Senate, Senate approves National Emergency Medical Services Agency, State House clinic: FG has budgeted N3.5 billion for State House Clinic since 2017

Senate seeks textile importation ban

The Nigerian Senate wants importation of textiles to be banned for at least five years.

Facebook launches new payment platform, Facebook Pay

Facebook Inc has announced the launch of Facebook Pay, a payment service that unites payments across its social media platforms.

NNPC to pay BCE $22.6 million over failed contract

by Abiola Odutola

NNPC has been ordered by the Supreme Court to pay BCE Consulting the sum of $22.6 million as damages over a failed Consultancy Service Contract.

e-Learning Platform, Africa Development Bank. AfDB develops Index to aid women empowerment , African Development Bank awards $1.1 million to boost food production in Africa , AFDB increases capital to $208 billion in bid to secure Africa’s future , African Investment Forum: AfDB eye $67 billion deals , ECOWAS backs Adewunmi Adesina’s re-election as AfDB election nears , AfDB bows to pressure from U.S., orders an independent probe of Akinwumi Adesina, Fitch rating agency affirms AfDB's AAA rating with stable outlook, Digital Nigeria e-Learning Platform registers 16,000 users in 24 hours - African Development Bank

African Investment Forum: AfDB eye $67 billion deals

Deals worth $67 billion would be sealed at the African Investment Forum, according to Dr Akinwumi Adesina, the President, AfDB.

Huawei staff members to get $286 million cash reward, here’s why

Huawei Technologies has announced that it will reward its employees with 2 billion yuan ($286 million).

NNPC reiterates commitment to meet domestic gas demands