Nigeria to spend N450 billion for petrol subsidy in 2020 – Minister The federal government has said it will spend about N450 billion next year on fuel subsidy. This is despite the commitment by the Nigerian National Petroleum Corporation (NNPC) to rehabilitate the country’s four refineries to stop importation of petroleum products. A former NNPC chief and ex-petroleum minister, Ibe Kachikwu, had also...... read more
Abia to computerise vehicle inspection Abia State Government says it has concluded plans to computerise its vehicle inspection service and electronic vehicle administration system. The state Governor, Dr Okezie Ikpeazu, who was represented by his deputy, Ude Oko Chukwu, stated this when he received the Business Development Executive of SYC, Mr Edward Aderemi, and his team...... read more
CBN increases charges on withdrawals, deposits The Central Bank of Nigeria, in a circular to all deposit money banks, yesterday announced the commencement of charges on deposits in addition to already existing charges on withdrawals.   According to the circular, the charges, which take effect from today, will attract three percent processing fees for withdrawals and two...... read more
FG To Increase VAT From 5 to 7.2 Percent The Federal Government has said that consultations will begin at all levels on the review of the Value Added Tax, (VAT) from 5 per cent to 7.2 per cent, just as it is ready to begin deductions to recover bailout funds given to states. This was disclosed by the Minister of...... read more
Tribunal settles bank’s N1.528bn dispute with Abia govt Tax assessment disagreement of N1, 528, 205,878.88 between Polaris Bank Plc and the Abia State Board of Internal Revenue has been settled by the Tax Appeal Tribunal for South East zone. The bank had approached the appeal tribunal sitting in Enugu, to determine if the state board of internal revenue followed due...... read more
Order to CBN on food importation: Buhari is a leader who is completely out-of-touch - Ezekwesili Former Minister of Education, Oby Ezekwesili, has described President Muhammadu Buhari as a “completely out-of-touch leader.” Ezekwesili, a former presidential candidate of the Allied Congress Party of Nigeria, ACPN, made the remark while rubbishing Buhari’s warning to the Central Bank of Nigeria, CBN, to stop providing foreign exchange for importation of...... read more
Moghalu faults Buhari’s directive on non-provision of foreign exchange for food importation Kingsley Moughalu, a former deputy governor of the Central Bank of Nigeria (CBN) has faulted President Buhari's directive on non-provision of foreign exchange for food importation.        Recall that President Buhari while hosting APC Governors at his hometown in Daura on Tuesday, said his directive to the CBN to starve...... read more
Don’t Give A Cent To Anybody To Import Food Into The Country, Buhari Tells CBN President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to stop providing foreign exchange for importation of food into the country. He disclosed this on Tuesday when he hosted the All Progressives Congress (APC) governors to Eid-el-Kabir lunch at his country home in Daura, Katsina State. The President explained...... read more
Outrage as China ships used vehicles to Nigeria Automakers, dealers and other stakeholders have expressed anger over China’s resolve to push its used vehicles to Nigeria and other global markets as a strategy to shore up its income from automobile. Although no government official connected with the auto industry and vehicle import was willing to confirm the development, The...... read more
We'll implement street lighting to ensure Business Centres run on 24hrs circle - Abia govt   In a bid to improve power supply and boost businesses on 24 hours circle, Abia State government has said it would soon install generating sets and erect street lights along major roads leading to business centres in Aba and Umuahia. Commissioner for Information, Chief John Okiyi Kalu, who stated this...... read more
Invest in Abia and enjoy tax waivers - Ude Oko Chukwu   Abia State Deputy Governor, Rt Hon Ude Oko Chukwu, has called on citizens and entrepreneurs to invest in the state and enjoy tax waivers for a minimum of five years. Sir Oko Chukwu who made the call at Afaraukwu Umuahia during the opening of a mini residential estate built by...... read more
Ikpeazu tasks Ndigbo on development of S’East Governor, Dr. Okezie Ikpeazu, has urged the Igbo to unite themselves and develop the economy of Southeast to create employment for her teaming youths. He gave the charge while receiving a delegation of Nzuko Umunna led by Mr. Emeka Onwuka, at Government House, Umuahia. He stressed the need for all to...... read more
YESSO: Abia to partner world bank on Youth support program The Abia State government is set to partner Workbank on the Youth Employment and Social Support Operation (YESSO) Project.  YESSO is a programme aimed at strengthening the state level social safety net systems and reducing the vulnerability of poor youth and women through increased access to work opportunities and promoting human...... read more
Nigeria spends 50 percent of revenue on debt servicing-AFDB African Development Bank says Nigeria spends 50% of its earning on debt servicing The bank, revealed this in its West Africa Economic Outlook 2019. According to AfDB, the lowest revenue spent by West African countries on external debt servicing is 17 per cent. The bank adds that with the increasing domestic debt...... read more
We’ll reduce dependence on imported items – Emefiele The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, has said that Nigeria will continue to implement policies that will reduce the importation of goods that can be produced locally. He said this while making a presentation titled, ‘Against the tide: Nigeria’s  heterodox monetary policy and the Bretton Woods consensus’, at...... read more
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Latest News Ikpeazu at 55: A Celebration of Grace, Simplicity and Tenacity FG, Labour Reach Agreement On Implementation Of N30,000 Minimum Wage No plan to remove Fuel subsidy - FG Metuh To Face Trial Over Alleged Destruction Of Evidence Ochanja Market inferno: The Takeaways Buhari Approves N10bn Intervention Fund For Enugu Airport Some Nigerians can’t recite the national anthem - Lai Mohammed EFCC to rehabilitate Yahoo-Yahoo boys Bayelsa, Kogi, ‘difficult states to conduct elections’ – INEC Crisis rocks Nigerian Senate as Leadership hijack employment slots

 

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