Nigeria has attracted the largest share of overall foreign direct investment (FDI) in West Africa while manufacturing investment remained relatively modest due to policy inconsistency, infrastructure deficits, and macroeconomic instability, Pan-African Manufacturers Association (PAMA) has said citing data from the United Nations Conference on Trade and Development (UNCTAD). The review said Nigeria recorded negative FDI…
The Monetary Policy Committee (MPC) said rising political spending and foreign exchange (forex) demand pressures associated with the 2027 elections will test the resilience of Nigeria’s economy. Members of the Central Bank of Nigeria (CBN)-led MPC, in their personal notes at the last MPC meeting released on Thursday including Aloysius Ordu, Bandele Amoo, Lamido Yuguda,…
Oil prices jumped to their highest level since 2022 after a report that the US military is set to brief President Donald Trump on new plans for potential action in the Iran war. Brent crude rose by almost 7% to more than $126 a barrel at one point, before falling back. US Central Command has…
Oil prices surged approximately three per cent to reach a two-week high on Monday, driven by stalled peace talks between the U.S. and Iran and ongoing restrictions on shipments through the Strait of Hormuz, which continue to tighten global oil supplies. Brent crude futures increased by $2.90, or 2.8per cent, closing at $108.23 per barrel….
The Federal Inland Revenue Service (FIRS) has clarified that the National Identification Number (NIN) issued by the National Identity Management Commission (NIMC) has automatically become the Tax Identification Number (Tax ID) for individual Nigerians under the new tax framework. NIN is a unique number issued by NIMC. Data released by the National Identity Management Commission…
Presidential Committee on Tax Policy and Fiscal Reform has said the ongoing tax reforms go beyond revenue generation, aiming instead to reposition the country’s economic trajectory. Its Chairman, Mr Taiwo Oyedele, made this clarification in Lagos at the inaugural Annual Workshop for Attorneys-General on emerging issues in the communications sector. Oyedele noted that the reforms…
