The Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Mr. Taiwo Oyedele has said that four tax reform bills, which President Bola Tinubu submitted to the National Assembly would empower Nigerian youths to play a key role in the digital economy space. On his X handle , Oyedele said that the changes to the income tax laws were …

Vice-President Kashim Shettima has projected that Nigeria’s economy will grow in “leaps and bounds” by 2025. At a retreat organised for presidential aides and heads of units in his Abuja office on Saturday, Shettima referenced the crude oil production of 1.8 million barrels per day recorded recently as part of the country’s economic improvements so far. According to the Vice President, …

Nigeria’s external debt may rise to $45.1 billion by the end of 2024 as the Federal Government advances plans to secure additional external funding. The Debt Management Office (DMO) revealed in its latest report that the country’s external debt stock increased by $780 million in the second quarter of 2024, growing from $42.12 billion in March to $42.9 billion as …

The Nigeria Customs Service (NCS) has announced that it collected N5.7 trillion in revenue as of Tuesday, 12 November 2024. At the ongoing 2024 Comptroller-General of Customs Conference in Abuja, Comptroller-General, Adewale Adeniyi expressed optimism about the service’s capacity to achieve more for the economy. “Our strategic engagements and collaborative approaches have yielded remarkable results across our core statutory responsibilities. …

The Independent Media and Policy Initiative (IMPI) has said that, contrary to suggestions in a section of the media, the economic reforms of the Bola Tinubu administration are based on a clear plan to steer the country away from the tragic path of another oil-rich country, Venezuela. In a statement on Sunday, IMPI’s Chairman, Dr. Niyi Akinsiju said that the …

The Presidency has assured that the tax laws under consideration by the National Assembly would increase the number of taxes now in operation. In an explainer on Thursday, the presidential adviser on Information and Strategy, Mr. Bayo Onanuga said that the proposed laws are rather designed to “optimise and simplify existing tax frameworks”. Addressing the concerns of governors of Northern …

Vice President Kashim Shettima on Wednesday said beyond just promoting the nation’s rich cultural heritage, the Nigerian carnival industry also has enormous potential to drive national unity and cohesion and empower the youths. To this effect, he pledged that the government is positioning the country’s carnival industry to tap from the global carnival market, estimated at $5 billion, as a …

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has said that Nigeria’s $500 million domestic bond was oversubscribed despite warnings from the International Monetary Fund (IMF) not to issue the bond. On 15 August, the Federal Government launched a $500 million domestic bond, which commenced subscription five days later at $1,000 per unit to interested investors. …

The Federal Government has withdrawn the money laundering charges filed against an executive of Binance Holdings Limited, Tigran Gambaryan. In April, the Economic and Financial Crimes Commission (EFCC) arraigned Binance, a cryptocurrency firm, and Gambaryan, on allegations of money laundering. Gambaryan has been in detention since February following the clampdown on Binance over alleged manipulation of the Nigerian currency. At …

Publicly available data show that the Nigerian economy is responding progressively to the economic policies of the Bola Tinubu administration, according to policy think tank, the Independent Media and Policy Initiative (IMPI) This, the group, says is contrary to the doomsday prognosis of a dysfunctional economy by some self-styled analysts. In a policy statement by its Chairman, Dr. Niyi Akinsiju, …