Economy

LAGOS—LAGOS Internal Revenue Service, LIRS, has expanded the state’s tax nets  with the aim of increasing the Internally Generated Revenue, IGR. The Executive Chairman, LIRS, Mr. Folarin Ogunsanwo who stated this at a meeting with […]

This is no pitch for supply side economics and its handmaiden trickle-down economics that reduces capital gains tax so that owners of capital can reinvest their gains and create jobs for others. But that government […]

In the wake of the scarcity of petroleum products being experienced in the country, a number of people who were not for the removal of subsidy or were, at best, ambivalent, have come down from […]

SINCE the past couple of weeks, the recurrent fuel scarcity that defines the Nigerian economy has resurfaced across the country.  Most petrol stations stopped selling fuel, claiming scarcity of the product from importers. The usual […]

LAGOS — Industry regulator, the Department of Petroleum Resources, DPR, has issued a four-week deadline for oil and gas operators to furnish it with the cost components of projects currently under execution in the country. […]

ABUJA—STRONG indications emerged yesterday that the Senate will next week pass the 2015 supplementary appropriation bill of N465, 636,926,857 billion. The 2015 Supplementary Appropriation Bill passed the second reading yesterday after it was presented for […]

UMUAHIA—THE Minister of Labour and Employment, Dr. Chris Ngige has said the Federal Government would design a new approach to tackle the massive youth unemployment, saying that the new approach would help to move the […]

Despite the fall in global crude oil prices, its harsh impact on Nigeria’s revenue and the current petrol scarcity in many cities, the Federal Government is still subsidising by N10.58 for every litre of the […]

A popular hip hop song by Kanye West and Jamie Fox that topped the United States and global music chart some 10 years ago has an interesting lyric: “Ain’t messing with a broke nigga.” As […]

Every so often, the Nigerian nation is hard hit with petrol scarcity. This is because the nation has no refining capacity. Ironically, Nigeria is about the fourth largest exporter of crude and the largest importer […]

NOTE: The first part of this series might create the impression that this is political commentary. Even the Editor was alarmed enough to call me about it. Readers need to understand the reason for the […]

Despite seeming iron clad position of the Central Bank of Nigeria, CBN, backed by both the presidency and the newly inaugurated minister of Finance, Mrs. Kemi Adeosun, the short and medium term outlook of the […]

The Federal Government has expressed its willingness to continue to partner the World Bank in the development of the solid minerals sector. Minister of Solid Minerals, Dr Kayode Fayemi, disclosed this when he received a […]

The Nigeria Labour Congress said on Sunday that the state governors had declared war on the Nigerian workers by a recent declaration by the Nigeria Governors’ Forum that its members could no longer sustain the […]

Construction giants- Julius Berger PLC and Reynolds Construction Company (RCC)- have returned to work on the N167 billion Lagos-Ibadan Expressway. The News Agency of Nigeria (NAN) reports that the  workers’ presence  is noticeable at the […]

When PDP came to power in 1999 Nigeria was generating about 4,000 MW of electricity. After 15 years and $20 billion spent we are generating between 3,000 and 4,000 MW. Presidential Candidate Muhammadu Buhari, November […]

Just as the new minister of power has set out to look for the root cause of decades of epileptic power supply in the country, so do the president and his team need to look […]

Nigeria is losing N256bn ($1.3bn) in foreign exchange inflows every month as a result of the global fall in the prices of crude oil, the country’s major revenue earner. The Governor, Central Bank of Nigeria, […]

The Federal Government has a target to raise the sum of $1.5bn (N296bn) from development finance institutions for funding of basic social services such as unemployment allowance and school feeding programme, among others. When compared […]

Contrary to insinuations in some quarters, Wale Odunlami, Executive Chairman of Ikeja Local Government Area, Lagos State, is optimistic that the country will not go into recession in 2016. “It is not true that the […]