Large-Scale Theft of Power Infrastructure Worsens Nigeria’s Electricity Crisis
Millions of Nigerians are grappling with prolonged power outages due to the widespread theft of critical power infrastructure, including transformers,…
Day: December 12, 2023
Nigeria’s Affluent Struggle Amidst Record Inflation: A Cry from the Rich to the Poor
Nigeria, experiencing its highest inflation rate in 18 years, is witnessing the affluent class grappling with economic challenges similar to…
Political Turmoil in Rivers State: Wike’s Loyalists Defect to APC, Fueling Speculation of Minister’s Move
The political landscape in Rivers State is undergoing a significant shift as 27 lawmakers loyal to Nyesom Wike, the minister…
Nigerian Stock Market Seeks IPO Boost Amid Thirst for Listings
The Nigerian stock market has witnessed various forms of equity listings in 2023, including private placements, introductions, and other listings.…
Central Bank of Nigeria Suspends Cash Deposit Fees, Affecting Banks and Customers
The Central Bank of Nigeria (CBN) has announced the immediate suspension of processing fees, ranging from two to three percent,…
Niger, Mali, Burkina Faso Explore Political and Monetary Alliance, Signal Shift from West African Bloc
Niger, Mali, and Burkina Faso are considering a political and monetary alliance, as announced by Niger’s military leader, General Abdourahamane…
Nigerian Senate Urges Allocation of 10% Annual Budget Revenue to Agriculture for Food Security
The Nigerian Senate has called on the federal government to allocate a minimum of 10% of the total annual budget…
Nigeria Loses N1.8 Trillion to Import Duty Exemption Certificate (IDEC) in 2023
The Nigeria Customs Service (NCS) has reported that Nigeria lost a significant sum of N1.8 trillion to Import Duty Exemption…
Nigeria’s Q3 2023 VAT Collections Surge by 51.6% Year-on-Year, Reaching N948.07 Billion
The National Bureau of Statistics (NBS) has reported a remarkable year-on-year increase of 51.6% in Value Added Tax (VAT) collections…
Rising Divestment Threatens Nigeria’s Manufacturing Sector as Multinationals Shift to Imports
While President Bola Tinubu seeks new investors to boost Nigeria’s economy, recent reports reveal a troubling trend of multinational manufacturing…
Central Bank of Nigeria Suspends Cash Deposit Processing Fees Amid Lingering Cash Scarcity
The Central Bank of Nigeria (CBN) has announced the suspension of processing fees on cash deposits, a move aimed at…