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BUSINESS

 The Federal Government on Wednesday said it was set to roll out the Government Enterprise and Empowerment Programme 2.0 in all the 36 states and the Federal Capital Territory.

 The Federal Government on Wednesday said it was set to roll out the Government Enterprise and Empowerment Programme 2.0 in all the 36 states and the Federal Capital Territory. It stated that under the programme, 98,000 Nigerian farmers and small business owners would get between N50,000 and N300,000 interest-free loans. This implies that the government will give out over N5bn as loans under the scheme. The Minister of Humanitarian Affairs, […]

todayApril 7, 2022 28

BUSINESS

The Nigerian National Petroleum Company Limited has so far paid a total of $3.68bn out of the $4.689bn cash call debt to five international oil companies that are its joint venture partners.

The Nigerian National Petroleum Company Limited has so far paid a total of $3.68bn out of the $4.689bn cash call debt to five international oil companies that are its joint venture partners. The latest data obtained from the oil firm on Wednesday on the cash call arrears repayment showed that while the NNPC had completed the repayments to Mobil Producing Nigeria and Chevron Nigeria Limited, it was still owing three […]

todayApril 7, 2022 21

BUSINESS

The Nigeria Customs Service has said that there are no plans for duty reduction on imported vehicles.

The Nigeria Customs Service has said that there are no plans for duty reduction on imported vehicles. There are speculations that the service has reviewed the tariff on imported used vehicles from 35 to 20 per cent. According to the news, the duty rate is applicable on the Common External Tariff trade portal under HS Code 8703. However, clearing agents have insisted that the Customs must make an official statement […]

todayApril 7, 2022 78

BUSINESS

The Central Bank of Nigeria has imposed an N800m fine on three Deposit Money Banks in the country for violating regulations barring customers from transacting in cryptocurrencies.

The Central Bank of Nigeria has imposed an N800m fine on three Deposit Money Banks in the country for violating regulations barring customers from transacting in cryptocurrencies. According to a Bloomberg report released on Wednesday, the three banks are Access Bank Plc, Stanbic IBTC, and the United Bank for Africa Plc. The report noted that the penalties were part of efforts by the apex bank to ensure that banks implement […]

todayApril 7, 2022 31

BUSINESS

The Senate has invited the heads of 62 revenue agencies over the low remittances and the need to boost government revenue.

The Senate has invited the heads of 62 revenue agencies over the low remittances and the need to boost government revenue. This is according to an advertorial published by the Senate Committee on Finance. Some of the agencies include: The Federal Airports Authority of Nigeria, Nigerian Ports Authority, Federal Inland Revenue Service, Nigeria Deposit Insurance Corporation, Nigerian Meteorological Agency, National Agency for Food and Drug Administration and Control, Federal Road […]

todayJanuary 31, 2022 145

BUSINESS

Aviation industry regulator-the Nigerian Civil Aviation Authority-is considering a major review of domestic airlines’ operating licence fees and other charges, in order to ensure its bills are in tandem with current realities and what is obtainable in other countries.

Aviation industry regulator-the Nigerian Civil Aviation Authority-is considering a major review of domestic airlines’ operating licence fees and other charges, in order to ensure its bills are in tandem with current realities and what is obtainable in other countries. The Director-General, NCAA, Captain Nuhu Musa, made the disclosure during an interview in Lagos. He said the regulator was subsidising the industry considering how low its charges had remained over the […]

todayJanuary 31, 2022 146

BUSINESS

A report by the National Bureau of Statistics has shown that intra-city transport fares in Nigeria have increased by 283 per cent on the average amid the rising cost of fuel subsidy to the Federal Government.

A report by the National Bureau of Statistics has shown that intra-city transport fares in Nigeria have increased by 283 per cent on the average amid the rising cost of fuel subsidy to the Federal Government. The average cost of bus transportation within Nigerian cities rose from N122.83 in January 2017 to N470.83 in December 2021, reports have shown. This means that the cost of intra-city bus transportation has risen […]

todayJanuary 31, 2022 171

BUSINESS

The Office of the Auditor General of the Federation has disclosed that 15 Ministries, Departments, and Agencies failed to remit N127.13bn revenue to the Consolidated Revenue Fund between 2017 and 2019.

The Office of the Auditor General of the Federation has disclosed that 15 Ministries, Departments, and Agencies failed to remit N127.13bn revenue to the Consolidated Revenue Fund between 2017 and 2019. The OAuGF made this known in its 2019 Annual Report on Non-Compliance, Internal Control, and Weakness Issues in MDAs of the Federal Government of Nigeria for the year ended December 31, 2019, which was submitted to the National Assembly. […]

todayJanuary 4, 2022 28

BUSINESS

The Ogun State Governor, Dapo Abiodun, says his administration is committed to making Ogun an oil producing state in the country.

The Ogun State Governor, Dapo Abiodun, says his administration is committed to making Ogun an oil producing state in the country. Abiodun said this while delivering a convocation lecture at the 2nd and 3rd convocation programmes of the Mountain Top University, with the topic, “Quest for excellence: The Nexus of faith, knowledge and resilience.”. The governor said he was privileges to work as the chairman of the Olokola Free Trade […]

todayDecember 28, 2021 174

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