Economy

TUC To Tinubu: Nigerians Cannot Afford To Bear Brunt Of Fuel Subsidy Removal In Isolation

TUC To Tinubu: Nigerians cannot afford to bear brunt of fuel subsidy removal in isolation The Trade Union Congress (TUC) on Monday, applauded the decision of the Federal Government to remove fuel subsidy but lamented that the persistent call for sacrifices on the part of citizens was no longer tenable. Festus Osifo, President of TUC, while briefing the media on the state of the nation, noted that the Federal Government never reciprocates the sacrifices made by Nigerians. He urged the Tinubu led administration to show good example by cutting the cost of governance, stressing that the proposed purchase of new…

Jul

2023

A Stitch In Time, Saves Nine: NNPCL Must Stop Indiscriminate Price Increase – By Malam Aliyu Saminu

A STITCH IN TIME, SAVES NINE: IT IS TIME TO ACT If NNPCL are allowed to continue to increase pump price indiscriminately, it will certainly reach the level the country will be grounded completely. The federal, states and local governments should know that, with continues increase in the pump price of petroleum products and considering the amount paid to employees as salary, it will reach a point they will stop going to work, students will be forced to stop schooling as the income parents are making will not be enough to cater for basic necessities of life, let alone have…

Jul

2023

Breaking: The Three Tiers Of Government (Federal Government, States, LGs) Are Set To Share N2Trillion In July 2023, The First Time In History.

💥BREAKING The Three Tiers Of Government ( Federal Government, States, LGs) Are Set To Share N1.959 trillion In July 2023. ●Statutory Collections Make Up N1.7 Trillion Of The Federally Collected Revenues, Followed By N293 Billion From VAT And N12 Billion From Electronic Money Transfer Charges. That FAAC will share almost N2trillion in July, the first time in history, as revenue for the three tiers of government, is an immediate and major benefit of fuel subsidy removal. This money that would have been frettered away, in a month, via fuel subsidy will now go into the coffers of government to improve…

Jul

2023

President Tinubu Signs 4 Executive Orders One Of Which Is The Suspension Of The 5% Exercise Tax On Telecom Services

President Bola Tinubu has signed four Executive Orders one of which is the suspension of the five per cent Excise Tax on telecommunication services as well as the Excise Duties escalation on locally manufactured products. President Tinubu also signed The Customs, Excise Tariff (Variation) Amendment Order, 2023, shifting the commencement date of the tax changes from March 27, 2023 to August 1, 2023 and also in line with the National Tax Policy. Tinubu also ordered the suspension of the newly introduced Green Tax by way of Excise Tax on Single-Use Plastics, including plastic containers and bottles as well as the…

Jul

2023

Our Government Committed To Instituting Reforms – President Tinubu Tells Visiting Bank Of America Team.

STATE HOUSE PRESS RELEASE President Asiwaju Bola Ahmed Tinubu has expressed confidence that his administration is on the pathway to success in spite of the challenges facing the country, saying Nigeria has no reason to fail the rest of the African continent. Receiving visiting Bank of America officials in his office at the State House on Tuesday, the President said his government was committed to instituting reforms that would engender the sustainable growth and development of the country. "We believe we are on the right track so far. We believe we need all the help we can get," the President…

Jul

2023

Petrol Price Crashes At Depots Amid Low Demand

Petrol price crashes at depots amid low demand Private depots at the weekend crashed the price of Premium Motor Spirit (PMS) to N495 – N496 per litre from N502 to N503/litre, The Nation has learnt.Petrol price crashes at depots amid low demand. The development came amid rumour that the prices of petrol may soar in July owing to the recently devalued exchange rate. The Nigerian National Petroleum Company Limited (NNPCL) depot retained its N479.6/litre. Independent Petroleum Marketers Association of Nigeria (IPMAN), National Vice President, Alhaji Abubakar Maigandi broke the news to The Nation on phone

Jul

2023

Dangote Laments, Begs Tinubu As FG Monetary Moves Are Affecting Billionaire’s Businesses

Dangote Laments, Begs Tinubu As FG Monetary Moves are Affecting Billionaire's Businesses. Alhaji Aliko Dangote, president of the Dangote Group, hurried to the Presidential Villa for a meeting with the president after falling to second place on Africa’s rich list for the first time in a decade as a result of Bola Ahmed Tinubu, the new president of Nigeria, deciding to float the exchange rate. In an unexpected visit to Tinubu, the wealthy businessman from Kano State and his friend, Microsoft co-founder Bill Gates, reportedly lobbied the new leader for supportive policies in response to the blow the latter took…

Jul

2023

Independent Petroleum Marketers Association Of Nigeria(IPMAN) Says There is No Plan To Increase Petroleum Products Above It’s Current Price.

“I want to disabuse the mind of the people that they should not panic about it, there is no cause for alarm, we are in control and there is nothing like that. “So, people should be rest assured that there is no way they can buy petrol more than the price it is being sold now. “If we look at the price from NNPC retail limited, which is an integral part of NNPC limited, they have more advantages than independent marketers and major marketers. ”So, it was the retail price that they announced they had never given a specific price…

Jun

2023

Why I Chose To Unify Exchange Rate, Refused To Partake In Arbitrage – Tinubu