Last Wednesday in Saudi Arabia, Nigeria and France drilled down the Memorandum of Understanding (MoU) signed last month in Paris, with concrete commitments by France to upgrade the laboratory, provide advanced technological equipment, and fund the exploration of geological data of the Nigerian Geological Survey Agency (NGSA). Meeting on the sidelines of the ongoing Future Minerals Forum in Riyadh, capital …

The Federal Government has reaffirmed its commitment to strengthening the Nigerian capital market as a catalyst for wealth creation and national economic development. Speaking at a recent meeting with the board of the Securities and Exchange Commission (SEC) in Abuja, the Minister of State for Finance, Dr. Doris Uzoka-Anite, emphasized that the administration was dedicated to creating a vibrant capital …

The Independent Media and Policy Initiative (IMPI) has said that there are enough evidence to show that the economic policies of the President Bola Tinubu administration will set new records in 2025. In a policy statement, IMPI Chairman, Dr. Niyi Akinsiju explained that it came to that conclusion after a fundamental analysis of the emerging pattern of the economy since …

More facts have emerged as to how President Bola Ahmed Tinubu and the 36 state governors of the federation finally arrived at a consensus on the contentious tax reform bills. The president, yesterday, issued a statement praising the governors who, speaking under the umbrella of the Nigeria Governors Forum (NGF), announced some adjustments to the tax bills. Thereafter, less than …

Governors have backed the Federal Government’s tax reform bills, while proposing a new sharing formula for value-added tax (VAT). According to the NGF, the new VAT sharing formula would be 50 per cent based on equality, 30 per cent on derivation, and  20 per cent on population. Following a meeting of the Nigeria Governors’ Forum (NGF) and the Presidential Tax …

Nigeria’s inflation rate rose to 34.8 per cent in December from 34.6 per cent in November driven by festive period rise in demand for goods and service. Announcing its Consumer Price Index (CPI) report for December 2024, the National Bureau of Statistics (NBS) said: “In December 2024, the headline inflation rate was 34.80 per cent, relative to the November 2024 …

President Bola Ahmed Tinubu, on Wednesday, assured a global audience in the United Arab Emirates that Nigeria is ready to work with other nations to build a resilient, equitable, and sustainable world for all. President Tinubu spoke on the second day of the 2025 Abu Dhabi Sustainability Week on ‘From Climate Imperatives into Economic Prosperity: Bridging Africa with the Global …

The Federal Government has launched the Technology Export and Digital Trade Desk, an initiative designed to boost Nigeria’s technology exports and strengthen the sector’s contribution to the nation’s economy. The Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani, announced the initiative in a LinkedIn post on Monday. He described the initiative as a significant step in the ministry’s …

The federal government has spent a whopping N8.94 trillion on debt servicing in the first nine months of 2024, representing a significant 47% of total expenditure during this period. The figure marks a sharp 56.8% increase compared to N5.69 trillion spent in the same period in 2023, according to data from the Central Bank of Nigeria’s (CBN) quarterly statistical bulletin. …

Lagos State Internal Revenue Service (LIRS) has issued a reminder to all employers in the state to fulfill their statutory obligation of filling annual tax returns for the 2024 financial year on or before 31 January 2025. This requirement is in line with the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended). In a statement, LIRS’ Executive …