L-R Regional group managing director OMG west& central African (WeCA), Mr Tolu Ogunkoya, Chairman,STB McCann, Sir. Steve Bamidele Omojafor, publisher/CEO The industry newspaper, Mr Goddie Ofose, past president National institute of marketing of Nigeria (NIMN), Managing Consultant at OE&E Consulting Ltd,. Tony Agenmonmen, chairman distinguish performance award, Joe Femi-Dagunro, during[Read More…]
News
Domestic Airfares Increase By 66% In 2022 – NBS
The National Bureau of Statistics (NBS) has revealed that domestic air transport fares increased by 66.36 per cent in the last one year. In its latest report titled ‘Transport Fare Watch (February 2023)’, the NBS stated that the average fare paid by air passengers in air travel for specified routes[Read More…]
FG Loses Suit To Recover N70trn Loot Over Poor Prosecution
Justice Peter Lifu of the Federal High Court in Lagos has struck out the Federal Government’s suit seeking to recover and forfeit the sum of N70tn it alleged was stashed in 29 bank accounts by looters. The judge stated that the Federal Government’s lawyers and the private lawyers which it[Read More…]
FG Announces Removal Of 5% Tax On Calls, Data
The Federal Government has announced the removal of its proposed five per cent excise duty on telecommunication services. The government announced that this was in line with the recommendations of a committee, the Presidential Review Committee on Excise Duty in the Digital Economy Sector, which was constituted to review the[Read More…]
Naira, Fuel Scarcity: 24.8m Nigerians Projected to Face Hardship- Report
No fewer than 28.4 million Nigerians in 26 states and the Federal Capital Territory, including 18,000 Internally Displaced Persons, are projected to face severe crisis between June and August this year due to the scarcity of fuel and naira, the latest report by Cadre Harmonise, stated. In the March 2023[Read More…]
Petrol Ex-Depot Price Hits N237/ltr in Q3 – Report
The Major Oil Marketers Association of Nigeria recent findings have shown that the ex-depot price of the commodity has risen to N237 from N148 per litre in the third quarter of 2022. The market update report, ‘Industry Data Sheet’ prepared by the Association, revealed that as of March 3, petrol[Read More…]
We Didn’t Direct Banks To Disburse Old Notes – CBN
The Central Bank of Nigeria (CBN) Tuesday said it has not issued a fresh directive to commercial banks on last Friday’s judgment of the Supreme Court ordering the circulation of the old naira notes alongside the new ones until December 31. A seven-member panel of justices presided over by Justice[Read More…]
Nigeria’s Balance of Trade Records $20m Deficit
The Central Bank of Nigeria (CBN) has disclosed that Nigeria’s balance of trade position has reversed from surplus to deficit, recording a $20 million trade deficit in November 2022 as against a surplus of $50 million in the previous month, October 2022. CBN revealed this in its Monthly Economic report,[Read More…]
CBN Threatens to Arrest, Prosecute Fake News Peddlers Over New Naira Notes
The Central Bank of Nigeria has warned against fake news, stating that it will investigate, arrest and prosecute those spreading false information about the naira redesign policy. This threat was contained in a statement on Tuesday jointly signed by the CBN’s Deputy Governor, Corporate Services, Edward Adamu, and Director, Corporate[Read More…]
Petrol Rises by 55% to N257/litre in Jan – Report
The National Bureau of Statistics in its Premium Motor Spirit (petrol) price watch for January 2023 stated that on average, Nigerians paid the sum of N257.12 per litre for the product. The report noted that the average price in January 2023 was an annual increase of 54.52 per cent and[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]