Economy

INLAND REVENUE SERVICE REFUTES REPORT OF FIFTY PERCENT VAT INCREASE

The Federal Inland Revenue Service has refuted report of planned increment of Value Added Tax by fifty per cent to meet up payment of the newly proposed minimum wage.

Also posted in National News, News

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FEDERAL GOVERNMENT CONSIDERS 50 PERCENT INCREASE IN VALUE ADDED TAX TO FUND MINIMUM WAGE

The Minister of Budget and National Planning, Senator Udo Udoma, and the Chairman of the Federal Inland Revenue Service, Babatunde Fowler, has said the Federal Government was considering an upward review of the Value Added Tax by 50 per cent.

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CENTRAL BANK PLANS SINGLE-DIGIT INTEREST LOAN FOR OIL PALM PRODUCERS

The Central Bank of Nigeria has unveiled fresh plans to revive the palm oil value chain to enable the sector to generate foreign exchange and reduce the level of unemployment in the country.

Also posted in Agriculture, National News, News

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FEDERAL GOVERNMENT REITERATES COMMITMENT TO BOOST TOMATO PRODUCTION

The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah has assured tomato producers in the country that government is committed to boosting tomato production in line with on-going economic diversification efforts.

Also posted in Agriculture, National News, News

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EUROPEAN UNION TO LAUNCH THIRTY MILLION EURO ENERGY INVESTMENT FUND IN NIGERIA

The European Union says it will launch a 30 million Euro sustainable energy investment fund in Nigeria.

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PRESIDENCY KICK-STARTS ACTION PLAN ON EASE OF DOING BUSINESS

The Presidential Enabling Business Environment Council has begun the fourth 60-day National Action Plan on Ease of Doing Business the presidency disclosed in a statement.

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CENTRAL BANK BOOSTS FOREIGN EXCHANGE MARKET WITH 210 MILLION DOLLARS

The Central Bank of Nigeria has injected 210 million naira into the inter-bank Foreign Exchange Market.

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FEDERAL GOVERNMENT TO CONSIDER REDUCTION IN CRUDE OIL OUTPUT

President Muhammadu Buhari has said that Nigeria could consider a reduction in crude oil production in support of efforts to shore up the price of the commodity.

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FEDERAL GOVERNMENT GOES AFTER MILLIONAIRE TAX DEBTORS

The Federal Inland Revenue Service has said that the service, in collaboration with other stakeholders like the Nigeria Police Force, will this year go after wealthy tax defaulters.

Also posted in National News, News

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LABOUR CANVASSES REVERSAL OF POWER SECTOR PRIVATIZATION

The Nigeria Labour Congress (NLC) has called for the reversal of power sector privatisation due to what it called “chronic failures” by the distribution companies (Discos) to deliver quality power supply to Nigerians.

Also posted in National News, News

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