Vice President Kashim Shettima has implored African leaders to work towards ramping up the total $3.1 trillion Gross Domestic Product (GDP) of countries on the continent, amounting to a paltry three per cent of the overall global GDP. During the African Economy of Scale plenary on the sidelines of the ongoing World Economic Forum (WEF) in Davos, Switzerland, the Vice …

Governor Babajide Sanwo-Olu, on Monday, signed the N2.267 trillion 2024 Appropriation Bill of Lagos State into law, ushering in a new expenditure cycle. At a ceremony held in the State House, Alausa, the governor assented to the ‘Budget of Renewal’ days after the House of Assembly passed the proposed expenditure bill and transmitted it to the executive arm for approval. …

The Federal Ministries of Solid Minerals Development, and Environment have said that they are strengthening collaboration to ensure that mining operations in the country have minimal adverse impact on the environment, in line with international best practices. Ministries of Solid Minerals Development, and Environment have said that they are strengthening collaboration to ensure that mining operations in the country have …

Vice President Kashim Shettima has departed Abuja to represent Nigeria at the 2024 annual meeting of the World Economic Forum scheduled to hold in Davos, Switzerland. The Vice President will join other political and business leaders across the world at the annual forum to discuss global socio-economic and development issues. Top on his agenda, apart from the plenary session, is …

The Lagos State Internal Revenue Service (LIRS) has communicated a reminder to employers of labour to submit their annual tax returns on or before the stipulated deadline of 31st January 2024. The agency explained that this is in accordance with applicable tax legislation. In a statement, the agency’s Executive Chairman, Mr. Ayodele Subair said that employers of labour with businesses …

An Indian firm, Jindal Steel Group is working on a $10 billion investment in both new and existing steel plants in Nigeria, which will create over 500,000 direct and indirect jobs in the steel industry in Nigeria. According to the Minister of Steel Development, Prince Shuaibu Abubakar Audu, who briefed President Bola Tinubu along with his Defence counterpart, Alhaji Mohammed …

The Minister of Solid Minerals Development, Dr. Dele Alake has rallied the support of the international community for local value addition in the mining sector, asserting that it is critical for the development of the mining industry and Africa’s economy. Alake, who was a panelist at the opening session of the ongoing Future Minerals Forum (FMF) in Riyadh, Saudi Arabia, stressed …

Nigeria is likely to experience a decline in its economy in 2024 as a result of its huge debt, growing inflation rate, and effects on citizen welfare, according to the United Nations (UN). The UN has made a projection in its World Economic Situation and Prospects (WESP) report for 2024 which was released on Monday, January 2024. Additionally, the UN …

The Economic and Financial Crimes Commission (EFCC) on Saturday said it visited Dangote Group headquarters with a search warrant for some vital documents on foreign exchange allocations to the company from 2014 to 2023 during the tenure of former Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele. It said it decided to search the head office of  Dangote …

The Lagos Chamber of Commerce and Industry (LCCI) has identified the positives in President Bola Tinubu’s new year message, which included commitment to power projects, including the Siemens Energy initiative and efforts to enhance the reliability of transmission lines. It said that the commitment “aligns with the business community’s aspirations for a robust and diversified economy”. In a statement on …