Business

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Background

Business

Experts Reveal The Consequences Of Nigeria’s Increased Indebtedness

Economic experts have cautioned the Federal Government against the use of debt and additional tax burden on businesses to fund budgetary provisions, as this can become detrimental to the economy in the long run. Rather, the Federal Government was advised to implement policies and reforms that will increase investment inflow while other existing businesses are propelled to function in an enabling environment. This was discussed at an analytical conversation on […]

todayJanuary 19, 2022 3

Business

Read Buhari’s Stand On Fuel Subsidy Removal

President Muhammadu Buhari has not directed anyone to implement fuel subsidy removal, President of the Senate, Ahmad Lawan, has declared. He spoke after meeting Buhari at the Presidential Villa, Abuja, yesterday, stating that he had gone to convey the feeling of constituents to him on some concerns, including the proposed removal of subsidy. Specifically, the Minister of Finance, Budget and National Planning, Zainab Ahmed, had last October, said the Federal […]

todayJanuary 19, 2022 2

Business

Nollywood Creates The Most Jobs In 5years

Nollywood, the world’s second-largest film industry, employed close to 300,000 persons in 2021, the highest in five years, according to estimates. The estimate was obtained using Jobberman Nigeria’s interview findings from filmmakers on the capacity that a single movie production can employ, which is an average of 100 persons from pre-production to post-production, and movie production data by the National Bureau of Statistics (NBS). The latest figure by the NBS […]

todayJanuary 10, 2022 2

Business

Stop Eating Beef, Akeredolu Charges South-West

The administration of Governor Rotimi Akeredolu of Ondo State has urged the people of the southwest to stop patronizing beef sellers as a way of curbing capital flight in the region. Akeredolu was quoted to have claimed in his submission that the people of the region spend up to N2.5billion daily on the purchase of beef when there is a cheaper alternative that is produced in the region. The Governor […]

todayJanuary 10, 2022 2

Business

Twitter Meets FG’s Conditions, Read When Ban Will Be Lifted

Social media company Twitter, has reportedly met the six conditions handed to it by the Federal Government of Nigeria and the ban will be lifted very soon. The Buhari-led federal government suspended the operations of Twitter in June of 2021, after the company deleted one of President Muhammadu Buhari's tweets for violating its platform rules, following reports from multiple users. Reports has it that the Technical Committee put together by […]

todayJanuary 4, 2022 3

Business

Read How Much Buhari And Osinbajo Will Spend Just On Travelling In 2022

President Muhammadu Buhari and Vice President Yemi Osinbajo are to spend the sum of N3. 087 billion on travels within and outside the country this year According to the details of the 2022 federal budget, which was signed into law by the president, on Friday, last week, the president plans to spend N2. 309 billion on travels, while the vice President was allocated the sum of N778. 2 million for […]

todayJanuary 4, 2022 4

Business

Petrol Subsidy Removal Will Have Negative Impact On Masses, Moahz Oil Boss Warns

Founder of Moahz Group of Companies, Eng. Ola Abdulqadir has advised the Federal Government against full deregulation of the downstream sector of the Petroleum Industry, saying such a move would lead to rise in the cost of transportation and other essential commodities. Abdulqadir, a leading member of the Nigeria LPG innovation for sustainable energy, in a statement in Abuja, yesterday, noted that implementing the petrol subsidy removal policy would have […]

todayJanuary 4, 2022 4

Business

Dollar To Naira Exchange Rate As At December 6

Information gathered from  the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦413.85/$1 on Monday 6th, after it closed at ₦414.73 to a $1 on Friday, 3rd December 2021.  Likewise,the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N560 and sell for N562 on Monday, December 6th 2021, according to sources at Bureau De Change(BDC). […]

todayDecember 6, 2021 5

Business

What To Know About Newly Launched CBN’s eNaira

The Central Bank Digital Currency (CBDC) eNaira took off on Monday with over N500m of the currency minted so far. The Central Bank of Nigeria(CBN) Governor Godwin Emefiele said 33 banks have been fully integrated and live on the platform. “eNaira is a Central Bank of Nigeria-issued digital currency that provides a unique form of money denominated in Naira. “eNaira serves as both a medium of exchange and a store […]

todayOctober 25, 2021 7

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