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ACCI President canvasses urgent tax reforms to protect SMEs In Nigeria

Their growth will in turn create jobs and collective wealth for the nation. All that is necessary must be done to nurture such new businesses. New companies should not be mandated to produce tax clearance until after a year or so of operations

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2019 Budget: NECA decries late passage, flays government

While speaking on some of the adverse effects of late passing of the budget, Olawale noted that the process leading to the approval and passing of budget in Nigeria had always been a victim of the proverbial fighting of two elephants.

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AMCON denies plans to shut NBML over huge debt

ASSET Management Corporation of Nigeria (AMCON) has denied plans to liquidate the Kano-based Nigerian Braiding Manufacturers Limited (NBML) over loans which have snowballed to over N1b AMCON Spokesman Jude Nwauzor disclosed this in a statement issued over the weekend stating that the Corporation was forced to take over the company, …

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Davos: Elumelu applauds as Africa embraces free trade areas for better economic integration

PLANS to boost intra-African trade and further integrate the African market is gaining traction as a new African free trade area could be just weeks away as the last few countries ratify an agreement signed last year. The deal which will boost the intra-African trade by half has been a …

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NNPC records 219 pipeline vandalism in October 2018, puts incidents at 42.9 %

NIGERIAN National Petroleum Corporation (NNPC) says it recorded 219 pipeline vandalised points in the month of October 2018 saying that tits pipeline network suffered a 42.9 per cent increase in the incidents of pipeline vandalism compared to the previous month during the year. The Corporation raised the alarm on the …

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Customs Seme confiscates PMS, exotic cars, rice worth N1.06b in 2 months

IN the last 2 months the Nigeria Customs Service (NCS) stationed at the Seme border has impounded PMS, exotic cars and rice worth N1.06 billion from smugglers operating that route. This is just as the command’s Customs Area Controller (CAC), Comptroller Mohammed Uba Garba said the command will further strengthen …

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Otedola moves to acquire Forte Oil Upstream, Power Firm

FOLLOWING shareholders approval in mid-2018, the majority shareholder of Forte Oil Plc, Mr. Femi Otedola has concluded plans to buy out Forte Oil’s upstream services and power distribution firm. The company said that the acquisition of the share would be ratified by the shareholders on February 7, 2019. The firm’s …

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NECA raises concern as Nigeria’s debt profile hits N15.814trillion in third quarter

FOLLOWING the third quarter report of the Debt Management Office (DMO) and the 2019 budget assumptions, the Nigeria Employers’ Consultative Association (NECA) has expressed fears at the country’s mounting debt burdens moving up to N15.814trillion in September, 2018 from N15.629trillion in June, 2018. Speaking in Lagos, the Director-General of NECA, …

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Government stalls as 11 companies indicate interest to run Ajaokuta Steel company

NO fewer than 11 companies have indicated interest to operate the Ajaokuta Steel Company but government says the will only be handed over companies when infrastructure needed for runing the company is put on ground. This is just as the Mines and Steel Development Ministry said that the sector had …

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NNPC to crash price of cooking gas, stop export of propane, butane

PLANS are underway for the Nigerian National Petroleum Corporation (NNPC) to crash the price of of Liquefied Petroleum Gas (LPG), also known as cooking gas through effective implementation of commercial framework that would halt the export of propane and butane which are major components in the production of the product …

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