The federal government says non-resident companies (NRC) are mandated to remit 6% of turnover from digital services provided to Nigerian customers. An NRC is a company not registered or incorporated in Nigeria but makes profits or income from Nigeria. They include Amazon, AliExpress, Twitter, Zoom Inc. and others. Zainab Ahmed, minister of finance, budget and national…
Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has reiterated the need for extensive structural reform this year to fast-track the country’s economic growth. Emefiele stated this in his personal comment at the last Monetary Policy Committee (MPC) meeting, a copy of which was posted on Monday on CBN’s website. Driven by base-year effect,…
The Nigerian National Petroleum Company (NNPC) Limited has assured of its commitment to further deepen ties with its host communities as it begins activities for 2022. NNPC gave the assurance through the Nigerian Petroleum Development Company Limited (NPDC), one of its upstream subsidiaries. In achieving this, NPDC, recently organised a novel community support programme called…
The Federal Government has called on entrepreneurs, venture capitalists and the business community to invest more capital, innovation and ideas into the development of Science, Technology and Innovation (STI) in Nigeria. The Minister of Science, Technology and Innovation, Dr Ogbonnaya Onu, made the call on Friday in an interview with news men in Abuja. Onu…
Faced with difficult economic circumstances, the organized private sector have expressed concern about high taxation, which it expects could depress the economy this year. In a statement issued on Sunday, Dr. Al-Mujtaba Abubakar, President of the Abuja Chamber of Commerce and Industry, advised Nigerians to view the problems of 2021 as a motivator for united…
Following the National Conference of the refoundation which recommended the extension of the transition from 6 months to 5 years, the transition authorities of Mali submitted to ECOWAS a timetable for the elections. According to this timetable on which the heads of state of the regional organization must rule on January 9, the transition underway…
His Excellency Eng. Mohamed Hamel from the People’s Democratic Republic of Algeria has assumed office as the fourth Secretary General of the Gas Exporting Countries Forum (GECF), the global platform of leading gas exporting countries. He was appointed to the helm of the 18-country energy organisation at the 23rd GECF Ministerial Meeting, presided by the…
The Central Bank of Nigeria has said that the banking sector will increase access to loans for Nigerian households and businesses in 2022. This was disclosed by Governor of the Central Bank of Nigeria, Godwin Emefiele, in a statement. He stressed the need for all stakeholders to work to build a more resilient economy that…
Deposit money banks have witnessed an increase in foreign exchange demand due to the central bank’s ban of forex sale to Bureaux De Change (BDCs). This was disclosed by CBN deputy governor, Adamu Edward Lametek in his statement at the last Monetary Policy meeting. He stated that the naira exchange rate has remained stable since…
The President of Abuja Chamber of commerce and Industry (ACCI), Dr. Al-Mujtaba Abubakar has felicitated with Nigerians on the New Year celebrations even as he called on governments at all levels to embrace policies that will favor business. In a new year statement issued on Friday, Dr. Abubakar tasked Nigerians to regard the challenges of…
