Oil-rich Rivers State proposes N483bn budget for fiscal 2022
Ben Eguzozie
December 6, 2021
Capex N314.90bn outpaces recurrent N144.76bn GDP growth of 3.5%; inflation 13.5%; N410/$ exchange rate Oil-rich Rivers State plans to spend N483.17 billion in the 2022 fiscal year as Governor Nyesom Wike presented the appropriation bill to the state House of Assembly for consideration. He christened it a budget of consolidation. He said the policy […]
AMCON’s NG Eagle in line for AOC
Sade WilliamsDecember 6, 2021
By Sade Williams/business a.m. Senate directs corporation to publish debtors list Senator Uba Sani, chairman, senate committee on banking, insurance and other financial institutions, is unhappy with the Ministry of Aviation for frustrating the efforts of the Asset Management Corporation of Nigeria (AMCON), a government debt resolution agency, that has scaled all huddles that […]
LCCI says Nigeria’s economy to close 2021 with 2.5% growth
Onome AmugeDecember 6, 2021
The Nigerian economy, despite its adverse economic conditions, is likely to end the current year on a growth rate of two percent or 2.5 percent. Toki Mabogunje, president of the Lagos Chamber of Commerce and Industry (LCCI), made the projection during the recently conducted 133rd annual general meeting of the chamber in Lagos. […]
Edo State-owned Stella Obasanjo Hospital gets N2.5bn ASR Africa grant
Businessam StaffDecember 2, 2021
Grant will enable state government equip hospital The Edo State government is set to undertake an upgrade, expansion, and equipping of the new Stella Obasanjo Hospital in Benin City to a 250-bed specialist hospital with the support of a N2.5 billion donation by the Abdul Samad Rabiu Africa Initiative (ASR Africa). The ASR […]
Obaseki, investment banker governor, proposes N214.2bn budget for Edo State in 2022
Onome AmugeDecember 2, 2021
Seeks State House of Assembly’s approval Godwin Obaseki, the investment banker governor of Edo State, has put together a spending plan of N214.2 billion for fiscal year 2022, which he has sent to the state house of assembly for approval. The banker turned governor is seeking the assembly’s consideration and approval for a […]
Osinbajo tasks farmers on good agronomic practices to address rejection of Nigerian cocoa
Onome AmugeDecember 1, 2021
Yemi Osinbajo, Nigeria’s vice president, has urged Nigerian cocoa farmers to institute an effective mechanism and extend good agronomic practices and knowledge to ensure that cocoa produced in the world’s third largest exporting country meets international standards to avoid rejection in the global market. Osibanjo stated this during the recently conducted Nigerian Cocoa Summit […]
AfDB president cautions Nigerian government on plan to raise taxes
Onome AmugeDecember 1, 2021
Akinwumi Adesina, president of the African Development Bank (AfDB), has cautioned the federal government against the hasty implementation of its tax increment plan, arguing that the country’s relatively low tax-to-gross domestic product (GDP) ratio at 6.1 percent is not a justification for incessant tax increase. Adesina, who gave the advice while delivering a lecture […]
Economic hardship fueling violence against women in Kano, says Justice Reform Team
Adeola AjakaiyeNovember 30, 2021
By Adeola Ajakaiye, in Kano The mounting social and economic difficulties being experienced in the country have been identified as one of the chief factors fueling the rising incidences of sexual and gender-based violence (SGBV) in recent times, a research work conducted by Kano State Justice Reform Team has indicated. Over 4000 cases of […]
Ogun, Nigerian subnational state, plans to spend N350bn in 2022
Onome AmugeNovember 30, 2021
Governor Abiodun presents budget to Assembly Targets revenue and employment generation Ogun State, Nigeria’s fourth highest internal revenue earning state, and next door neighbour to Lagos State, Nigeria’s richest subnational, has laid out a spending plan of N350.74 billion for fiscal year 2022. Governor Dapo Abiodun presented the 2022 appropriation bill estimate tagged […]
South East traders fault NCS new model for calculating import duty
Onome AmugeNovember 30, 2021
Call for finance minister’s intervention Say could lead to high costs of goods Increase economic hardship with social unrest The South East Amalgamated Markets Traders Association (SEAMATA) has voiced its objection to what it described as an “astronomical and indiscriminate” increment in the import duty on cargoes charged by Nigerian Customs Service (NCS). […]