Category: Business
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“Promote transformation in Africa,” urge UN and Lagos to OPS.
The United Nations and Lagos state have called on the private sector to spearhead change in Africa. This call was made during the Africa Social Impact Summit 2023 in Lagos. The summit’s theme centered on harmonizing global visions with local actions for sustainable development outcomes in Africa. UN’s Resident & Humanitarian Coordinator, Matthais Schmale, highlighted…
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Naira decline: Marketers suggest potential rise in fuel prices.
The naira’s depreciation against the US dollar and the recent surge in global crude oil prices have raised concerns among Nigerians about a potential increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol. While the Nigerian National Petroleum Company Limited and other oil distributors haven’t confirmed a price hike, they…
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Dollar surpasses N900/$ mark, approaching N950/$ in secondary markets.
The Nigerian Naira (₦) is facing turbulence, plummeting to N910/$ in the black market, sparking fears it might descend further to N1000/$ soon. Despite stabilizing around N750/$ just weeks ago, it’s been in a rapid decline recently. Trading conditions are notably unpredictable. The Naira is fluctuating between N900/$ and N915/$, with many black market traders…
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“Marketers anticipate a hike in cooking gas prices next week.”
Gas consumers in Nigeria are set for challenging times as marketers signal an impending price surge next week. Olatunbosun Oladapo, the head of the Nigerian Association of Liquefied Petroleum Gas Marketers, alerted consumers to brace for price hikes. A combination of factors, including increased international prices, higher tax rates, vessel costs, foreign exchange scarcity, and…
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Ebonyi CITN Boss tasks FG on multiple taxation
From Lateef Taiwo Chairman Chartered Institute of Taxation Of Nigeria (CITN), Abakaliki and District Society, Dr Justina Nnachi has stressed the need to address the issues of multiple taxation on taxpayers amidst hardship by the removal of fuel subsidy by the federal Government. Nnachi stated this on Monday in Abakaliki, the Ebonyi capital during her…
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NDDC Warns Against Scammers and Fake Contracts
Naira-Dollar Black Market Exchange Rate on August 8th, 2023 Curious about the Dollar to Naira exchange rate on the black market, also referred to as the parallel market (Aboki fx)? Check out the black market exchange rate for Dollar to Naira on August 7th below. These are the prevailing rates for swapping your dollar for…
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Lagos Pursues $10bn in Private Investments for Power Supply.
Governor Babajide Sanwo-Olu aims to attract $10 billion in private investments to elevate Lagos State’s electricity supply, targeting nearly five million homes by 2032. Despite drawing just a quarter of the national grid’s 5,000 megawatts, the state is looking beyond, relying on a diverse range of off-grid power sources. Sanwo-Olu emphasized that their comprehensive power…
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“2022 Floods Inflict $7bn in Economic Losses – FG”
In 2022, Nigeria faced $7bn in direct economic damages due to floods, according to the Federal Government. Moreover, over 600 lives were tragically lost in what’s described as Nigeria’s most severe climate change aftermath. This information was conveyed by Vice President Kashim Shettima during an event under the United Nations Framework Convention on Climate Change…
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FCT-IRS Takes A Bold Step On Tax Remittance Errors
By Iateef Taiwo, Abuja In a bid to put a stop to unending errors associated with tax remmittances by individuals in the territory to other states, the Federal Capital Territory Internal Revenue Service (FCT-IRS) has kick start plans to tackle such practices. Executive chairman FCT-IRS, Haruna Abdullahi said the errors, if not well corrected will…
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Shareholders Rally for First Bank’s AGM Amid Disput
Some shareholders of First Bank Nigeria Holding, FBNH Plc, have voiced their support for the upcoming Annual General Meeting (AGM) scheduled for August 15, 2023. They stand against a group of disgruntled shareholders attempting to halt the AGM and have called on regulatory authorities to intervene. Under the banner of the Trustee Shareholders Association of…