Nigeria’s external debt is the largest amongst all sub-Saharan African nations, despite the fact that it received debt waivers from the Paris Club, London Club or from Independent Creditors. The arrears of this debt have accumulated inexorably, putting Nigeria in the bad books of international financial communities. Also, Nigeria’s huge […]

Anambra State Governor, Prof. Chukwuma Soludo, has said that granting full autonomy to Nigeria’s 774 local government areas could lead to “humongous chaos” and hinder sustainable development. Governor Soludo made this statement on Tuesday at the Governor’s Lodge in Amawbia, Awka, after signing the Anambra State Local Government Administration Law, […]

The Federal Government has dismissed reports claiming that the United Kingdom endorsed a petition submitted by Yoruba Nation agitator, Sunday Adeyemo, popularly known as Sunday Igboho. The petition, which called on the UK government to consider the creation of a Yoruba nation, was submitted at 10, Downing Street, London, last […]

Vice President Kashim Shettima says President Bola Tinubu-led government is building a resilient economy that can withstand shock. Shettima made this known in Abuja at the 30th Nigerian Economic Summit (NES30), with the theme: ”Collaborative Action for Growth, Competitiveness and Stability”. “It is also important to note that stability is […]

The World Bank has stated that Nigeria must maintain its ongoing economic reforms for the next 10 to 15 years to establish itself as a leading economic power, not only in sub-Saharan Africa but also on the global stage. These reforms, according to the bank, are crucial for ensuring sustainable growth […]

Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, says petrol smugglers took advantage of the loopholes in the subsidy regime by making around ₦17m per truck in neighbouring countries. Briefing journalists in Abuja, the NNPCL boss said cross-border smuggling was rampant due to the fuel subsidy, with […]

The national electricity grid has collapsed again, The PUNCH reports. The grid collapsed at about 6:18 pm on Monday, leaving Nigerians in darkness. Checks by our correspondent confirmed that power generation dropped from 3.87 gigawatts at 5 pm to 3.56GW at 6 pm and 0.00GW at 7 pm and 8 […]

•We have to be extremely careful when we push for a complete deregulation – Muda Yusuf Against the backdrop of the presumed full deregulation of Premium Motor Spirit (PMS), also known as petrol, which was believed to have led to the hike in the price of the product, last week, the […]

A peace agreement has been reached between the Nigerian National Petroleum Company Limited (NNPCL) and independent oil marketers, following a mediation led by the Director General of the Department of State Services (DSS), Adeola Ajayi. The agreement will see NNPCL allow the loading of products to cover the N15 billion owed […]

any other company, at the rate of-(i) 27.5% in 2025 year of assessment, and(ii) 25% from 2026 year of assessment,” the document added. “Notwithstanding any provision of this Act or any other enactment, where, in any year of assessment, the effective tax rate of a company is less than 15%, […]