Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said the proposed amendment to value-added tax (VAT) distribution will create a fair system. In response to the recent rejection of the proposed tax amendment bill by the Northern States Governors Forum (NSGF), Oyedele said the current model for distributing VAT affects many…
Oil marketers have accused Dangote Refinery of fixing a product price regime that is the highest when compared with other sources. Acting under the aegis of Independent Petroleum Marketers Association of Nigeria (IPMAN), they said it is more expensive to buy premium motor spirit (PMS) or petrol from the Dangote Petroleum Refinery than from other…
Nigeria raked in N1.37 trillion revenue from the solid mineral sector last year, according to the Nigerian Extractive Industries Transparency Initiative (NEITI) report. Executive Secretary at NEITI, Orji Ogbonnaya Orji, disclosed this in a statement issued on the presentation of the releases of 2022-2023 Solid Minerals Sector Report in Abuja. He said the 2023 Solid…
A trade group, the Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Government to always engage with players in the various sectors of the economy in formulating policies that will support the country’s industrialisation drive. Speaking at the inaugural industrial symposium of the LCCI held in Lagos, with the theme ‘Industries as…
Telecom operators will play an indispensable role in bridging financial gaps and fostering inclusion, particularly in Nigeria, Chief Corporate Services & Sustainability Officer at MTN Nigeria, Tobe Okigbo, has said. He underscored this role during a panel discussion at the Africa Breakfast Convos, held on the sidelines of the recent United Nations General Assembly (UNGA79)….
Fintech platform, PalmPay, was awarded the Most Outstanding Fintech Driving Financial Inclusion at the prestigious BrandCom Awards 2024, held on October 26th. The award, presented by Brand Communicator, celebrates Palmpay’s remarkable contribution to expanding financial inclusion across Nigeria. The recognition from Brand Communicator reflects PalmPay’s commitment to bridging financial gaps and expanding access to reliable…
Issues that led to the blockage of Shell’s bid to sell off its asset for up to $2.4 billion to Renaissance consortium, comprising five companies by upstream oil regulator, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) would soon be resolved, according to Presidency source. The two companies could then sit and continue negotiation. NUPRC found some…
Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake has reaffirmed President Bola Tinubu’s commitment to repositioning the mining sector towards becoming a significant revenue earner for the country. A statement endorsed by the Minister’s Special Assistant on Media, Segun Tomori said the minister gave the president’s commitment while addressing Course 33 participants of the…
RFA Lyme Bay, a UK Royal Fleet Auxiliary (RFA) vessel, has arrived in Premiere Port (Apapa Quays) Lagos, Nigeria, as part of a Defence Engagement programme across West African partner nations. The visit is part of the maritime co-operation agreed under the UK-Nigeria Security and Defence Partnership in February 2024. While in Nigeria, Lyme Bay,…
