Wealth advisor shares reasonable small actions to tackle food inflation
Ben Eguzozie
September 7, 2021
With Nigerian food inflation at about 20 percent, pushing up headline inflation of 17.5 percent presently, coupled with poor agricultural infrastructure and lower investments in the sector, leading to astronomic rises in food and commodities prices, a wealth advisor, George Iwuagwu has giving out tips on how most ordinary Nigerians can confront the situation with […]
BDCs lament FX scarcity but CBN ban creates loophole for creative sourcing
Charles AbuedeSeptember 6, 2021
Severe scarcity, unmet supplies drag Naira down to N530/$ on Thursday Bureau de change (BDC) operators in the Lagos market area have lamented the difficulties experienced sourcing foreign exchange among their peers in the FX spot market to sell on to end-users amidst the lingering dollar scarcity in the market. However, some traders […]
Wike directs RSRS to ensure full implementation of newVAT Law
Ben EguzozieSeptember 6, 2021
Asks other states to see River VAT victory as federalism enabler Faults Katsina State’s attempt to challenge the Rivers law Tax experts predict long-drawn legal battle as other states follow suit With double legal victory in quick succession, the latest being only hours ago (Monday September 6), the dismissal of FIRS ‘stay of […]
Breaking! Court dismisses FIRS’ stay of execution application over VAT collection by Rivers State
Ben EguzozieSeptember 6, 2021
The Federal Inland Revenue Service (FIRS) has lost its bid to secure a stay of execution in its application seeking to stop the Rivers State government from collecting Value Added Tax (VAT) in the state to which the oil-rich state got a Federal High Court judgement in August. A Federal High Court sitting in Port […]
Vietnam puts off VP Osinbajo’s visit over spiking Covid-19 Delta variant
Ben EguzozieSeptember 6, 2021
Visit may hold by year-end or early 2022 Nigeria set to push pending MoUs The Vietnamese government has put off the earlier planned official visit by the vice president, Yemi Osinbajo to the socialist republic’s capital, Hanoi. The visit was initially slated for 11th – 13th August. The Asian nation with a robust […]
Shell Nigeria assets: Analysts say due diligence rests with bidders
Ben EguzozieSeptember 6, 2021
But sale offers great value Only 20% of assets seen to be commercial It is up to bidders to do their due diligence in the run up to the fire sale of its 30 percent interest in 19 oil mining leases (OMLs) in Nigeria by Shell Petroleum Development Company (SPDC), although the sale […]
Analysts see broad consumer price pressure after gas VAT
Charles AbuedeSeptember 6, 2021
Analysts point to the attendant effect on consumers, economic benefits for producers 5kg of LPG now N2,600; 20MT truck now N8m at depot, says NALPGAM With reaction still trailing the hiking of the price of cooking gas following the reintroduction of value added tax (VAT) on imported liquefied petroleum gas (LPG), a universe of […]
High interest, port congestion, taxation, endangering Nigeria leather export
in Kano, IN LAGOS & JACOB AJAKAIYE, PHILLIP ISAKPASeptember 6, 2021
By PHILLIP ISAKPA, IN LAGOS & JACOB AJAKAIYE, IN KANO Nigeria’s leather export business is in serious danger of running into a sudden halt following threats to the industry by a combination of high interest rates, congestion at the ports, multiple taxation and inconsistencies in the implementation of policies that were designed to ramp […]
Nigeria SEC chief under lawmakers scrutiny over persistent deficit spending
Chris IkosaSeptember 3, 2021
The Security and Exchange Commission (SEC) has come under the scrutiny of the Nigerian Senate over its inability to generate revenue from operational activities. The senate raised the alarm that the commission was gradually becoming insolvent, stating that it may go bankrupt soon. That was the verdict of the upper chamber when Lamido Yuguda, […]
Awabah founder sees robust pension industry in micro sector expansion
Zainab IwayemiSeptember 3, 2021
Digital pension platform founder wants rural, informal sector push Tunji Andrews, co-founder of Awabah, a digital pension platform, has highlighted strategies to meet a robust pension industry in Nigeria, especially with regards to the micro pension which currently captures a paltry percentage of the pension scheme. In a monitored interview on the prospect […]