Nigeria fails to impress on customer service, survey reveals
Post AMUGE
February 22, 2024
Business a.m The results of the 2023 Nigeria Customer Service Index (NCSI) findings were not promising for Nigeria, as Africa’s biggest economy scored 61.8 per cent out of 100 in terms of customer service satisfaction, a low score that signifies a lot of room for improvement. The first-ever Nigeria Customer Service Index (NCSI) report was […]
Nigeria’s money supply hikes to all-time high of N93.72trn in January
Post AMUGEFebruary 22, 2024
Business a.m The latest figures from the Central Bank of Nigeria (CBN) has indicated that the country’s broad money supply has reached a historic high of N93.72 trillion as of January 2024. This represents a significant increase of N40.48 trillion, or 76 per cent, from the figure of N53.14 trillion recorded in January 2023. A […]
Allianz places Nigeria on ‘sensitive’ immediate risk, ‘highest’, medium term
Post AMUGEFebruary 20, 2024
Investors advised to “tank up before you go” PHILLIP ISAKPA IN LONDON, UK Nigeria’s economic troubles, which have continued to be highlighted by international rating organisations and exposed to the global investor community, are still being picked up and put on display, a new report has shown. The report by Allianz Trade, […]
House of Reps told no ‘1% transaction fees’ on TSA, summons Edu, Cardoso
Post AMUGEFebruary 15, 2024
Business a.m The House of Representatives Committee on Public Accounts (PAC) has resolved to sanction ministries, departments and agencies (MDAs) that flout the TSA regulations. The committee has also summoned the governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, finance minister, Wale Edun, and representatives from the accountant general’s office to appear before […]
Poor management in last 8 years cause of Nigeria’s woes — Agusto
Post AMUGEFebruary 13, 2024
Business a.m Rating agency Agusto & Co. has issued a stinging rebuke of the management of Nigeria’s economy over the past eight years, citing poor management as the root cause of many of the country’s economic woes. In its monthly newsletter for January titled, “2024: A year of reckoning, turning points and balancing acts”, Agusto […]
Importers woes worsen as noose tightens on duty FX rate
Post AMUGEFebruary 5, 2024
Onome Amuge In a span of just 24 hours, the Nigerian government made another change to the exchange rate used by the Nigeria Customs Service (NCS) for the importation of goods. This recent alteration marks the sixth time that the rate has been raised in the past eight months. The Central Bank of Nigeria (CBN), […]
IMF sees slower growth for Nigeria in 2024
Post AMUGEJanuary 31, 2024
Business a.m The International Monetary Fund (IMF) has revised its forecast for Nigeria’s economic growth in 2024 downwards from 3.1 per cent to 3.0 per cent, a 0.1 per cent decline from its previous estimate. The revised forecast was published in the IMF’s latest World Economic Outlook report for 2024 and 2025. The IMF’s quarterly […]
Lack of operation,maintenance practices costing Nigeria 25% of WASH investment, says UNICEF
Post AMUGEJanuary 26, 2024
Business a.m The United Nations Children’s Fund (UNICEF) has expressed concerns over the loss of approximately 25 per cent of annual investments in Nigeria’s water and sanitation sector. According to UNICEF, the lack of adequate operation and maintenance, combined with infrastructural dysfunction, is the main cause of the setback in the sector. This was highlighted […]
Nigeria targets N19.4 trillion in tax revenue for 2024
Post AMUGEJanuary 25, 2024
Business a.m The Federal Government of Nigeria has set a tax revenue target of N19.4 trillion naira for the year 2024, following the record N12.37 trillion naira in tax revenue by the The Federal Inland Revenue Service (FIRS) in 2023, which surpassed the original target of N10.7 trillion naira. In a speech at the Federal […]
Ondo governor,Aiyedatiwa sacks SSG, commissioners appointed by Akeredolu
Post AMUGEJanuary 24, 2024
Business a.m Lucky Aiyedatiwa, the Ondo State governor, has taken the decision to dissolve the State Executive Council (SEC) with immediate effect. A statement issued by Ebenezer Adeniyan, the governor’s chief press secretary, directed all members of the cabinet to hand over their duties to the permanent secretaries or the most senior administrative officers in […]