Nigeria targets N250bn lottery industry in new revenue drive
Charles Abuede
July 29, 2021
To acquire CMS to wedge revenue leakages from lottery business Says Nigerian gaming market grossed N250bn in 2019 with FG receiving N1bn as revenue Nigeria is targeting its growing lottery industry, which is conservatively estimated to be worth N250 billion in revenues, in its continuous drive to plug what it has called leakages in […]
Imo moves to revive moribund Nekede wildlife park
Dikachi FranklinJuly 28, 2021
By Dikachi Franklin, in Owerri 500 different animals in stock A campaign aimed at creating a thorough public awareness for the Imo State Zoological and Wildlife Park at Nekede, Owerri West Local Government Area, Imo State, has begun as the ministry of tourism has flagged off a multimedia awareness campaign for the park. […]
IMF keeps Nigeria’s GDP growth forecast at 2.5% in 2021, 2.6% in 2022
Chris IkosaJuly 28, 2021
Policy efforts from countries to drive recovery amid pandemic The International Monetary Fund (IMF) has maintained that Nigeria continues to hold the prospects of growing its gross domestic products (GDP) at 2.5 percent this year and 2.6 percent in 2022. In its July World Economic Forecast titled, ‘Fault Lines Widen in the Global […]
How Ogoni youths shutdown East-West Road over neglect of 675km highway
Ben EguzozieJuly 28, 2021
N720bn road uncompleted after nearly two decades Road leads to Nigeria’s oil & gas plants Several hundreds of youths from the Ogoni Youth Federation (OYF) recently blocked the Eleme-Onne axis of the 675 km East-West Road (EWR) in a peaceful protest against what they termed the federal government’s neglect of that axis of […]
Lagos Revenue Service says 35% of companies evade tax
Onome AmugeJuly 20, 2021
Less than 65 percent of corporate organisations operating in Lagos state have paid their taxes, while many of them operate without any tax remittance to the government. Seyi Alade, director of legal services, Lagos Internal Revenue Service (LIRS), made the disclosure during the agency’s state-wide sealing of companies and hospitality firms over unpaid consumption taxes. […]
Nigeria’s N15trn capital base InfraCo set to take off in Q3, says CBN governor
Charles AbuedeJuly 14, 2021
Nigeria’s Infrastructure Corporation (InfraCorp), the dedicated N15 trillion capital base privately-managed infrastructure and industrial vehicle designed to harness opportunities for Nigeria’s infrastructure development by originating, structuring, executing and managing end-to-end bankable projects in that space, is set to commence in the third quarter of 2021. Godwin Emefiele, the CBN governor made this announcement at a […]
Downstream oil operators in Rivers get new safety guidelines from state’s energy ministry
Ben EguzozieJuly 14, 2021
DPR backs safety framework with MISTDO Collaborates with ACEP, RSU Given the recent spate of oil downstream incidents in the country, especially in Lagos which caused huge economic losses, and the need to avert similar occurrences in Rivers, a state that houses about 60 percent of facilities of Nigeria’s oil and gas industry, […]
Trade Union Congress decries Nigeria’s rising external loan
Onome AmugeJuly 12, 2021
The Trade Union Congress (TUC) has expressed displeasure at the federal government’s frequent external borrowing following the senate’s recent approval of a $6.1 billion loan request by the Muhammadu Buhari-led administration. The union noted that Nigeria’s borrowings have undermined the relevance of national minimum wage amid the country’s rising cost of living. Speaking on the […]
Nigeria, AEI sign MoU to boost grassroots community entrepreneurship
Onome AmugeJuly 10, 2021
The federal government has inaugurated an advisory board for the African Enterprise Initiative, a strategic intervention designed for Nigerians at the grassroots aimed at developing the nation’s community-based entrepreneurs and micro-enterprises. The appointment was actualised following a Memorandum of Understanding (MoU) for the implementation of the initiative signed by Nasir Sani-Gwarzo, permanent secretary,Federal Ministry of […]
Nigeria Customs intercepts smuggled wood worth N373.5m
Onome AmugeJuly 8, 2021
Four container loads of unprocessed wood valued at N373.5 million about being illegally shipped out of Nigeria to Asia have been impounded by the Nigeria Customs Service. Ahmadu Shuaibu, controller general of customs strike force,Team A, made the disclosure on Wednesday while showcasing the items in Ikorodu, Lagos State. Shuaibu said the wood smugglers […]