Business

President Bola Tinubu has signed four Executive Orders one of which is the suspension of the five per cent Excise Tax on telecommunication services as well as the Excise Duties escalation on locally manufactured products. President Tinubu also signed The Customs, Excise Tariff (Variation) Amendment Order, 2023, shifting the commencement...

As the prices of essential food items continue to skyrocket, Nigerians face an uphill battle in their fight against poverty. The soaring food inflation has exacerbated the poverty situation in the country, leaving many struggling to meet their basic needs. According to data released by the National Bureau of Statistics...

Umar Danbatta, the executive vice-chairman of the Nigerian Communications Commission (NCC), says the country has attracted $75.6 billion in investment through the telecommunications sector. The amount comprises both foreign direct investment (FDI) and local investment, as at 2021. Danbatta spoke at an interactive session with stakeholders in the communications media...

Amidst high cost of fuel in the country, UTM FLNG, a Nigerian gas company has concluded plan to set up the first Floating Liquified Natural Gas (FLNG) facility in Nigeria and the very first being developed by an Indigenous private African company, as they visited President Bola Tinubu to sought...

The Zone 2 Police Command in Lagos State has confirmed the arrest of two members of a syndicate linked to the hacking of no fewer than 1000 bank accounts in Nigeria. The spokesperson for the command, SP Hauwa Idris-Adamu, in a statement on Tuesday, said the suspects, who specialised in...

Nigerians have been asked to brace up for increase in the prices of bread, a major food item on the table of almost all Nigerians. The produce said their cost of production has risen following the withdrawal of fuel subsidy and the liberalization of the foreign exchange (forex) market by...

Nigeria has equalled Angola as the largest oil drilling market in sub-Saharan this year, says a report by Hawilti and the Caverton Offshore Support Group Plc. Oil drilling involves the extraction of oil by drilling a well through the earth’s crust to reach the fossil fuel deposits. According to the...

There are strong indications that terminal operators at the nation’s seaports have jacked up the cargo handling rate by 45 per cent following the devaluation of the naira by the Central Bank of Nigeria (CBN) from N461 to N631 per US Dollar, which the apex bank sold at the Importers...

The Human Rights Writers Association of Nigeria has issued a 72-hour ultimatum to the Federal Government, for the immediate arrest of ex-Niger Delta agitator, Mujahid Asari-Dokubo. The group threatened that should the Federal Government refuse to arrest Asari-Dokubu as it demanded, it would mobilise its members to embark on a...

The federal government may have lifted the ban on importation of vehicles through the land borders, it has been revealed. The development is projected to revitalise economic activities within the corridor. Daily Trust reports that the last administration had closed land borders between Nigeria and Cotonou, Benin Republic, and subsequently...