Nigerians To Pay More Tax As Senate Approves 7.5% VAT Hike

The  Nigerian Senate on Thursday passed the Finance Bill which seeks to amend seven acts of the National Assembly related to taxes payable in the country. Click here for more.

Foreign debt servicing gulps $1.66bn in 12 months

Servicing the nation’s external debt gulped $1.66bn in one year, from July 2018 to June 2019, an analysis of data obtained from the Debt Management Office has shown. Our correspondent reports that within the one-year period, the country’s external debt rose from $21.59bn to $27.16bn. Click here for more.

FG Begins Negotiation for P’Harcourt-Maiduguri Rail Project

The Federal Government has started negotiations for the commencement of the construction of the Port Harcourt to Maiduguri rail line, the Minister of Transportation, Rotimi Amaechi, has said. Click here for more.

Market Sentiment Remains Positive as Investors Gain N46.31bn; ASI Firms Up By 0.36%

Equities market closed yesterday on a positive note, as NSEASI appreciated by +0.36% to close at 26,872.09 points as against +0.14% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.50%. Click here for more.

Stockbrokers set to discuss issues affecting their profession, market 

Stockbrokers are warming up for ‘village meeting’ to discuss fundamental issues affecting their profession and how to take advantage of emerging opportunities in the financial market. The meeting scheduled for 3 pm on Thursday, November 21. Click here for more.

CBN moves to reduce cassava derivatives import worth $600 million  

In order to reduce the number of cassava derivatives imported into the country, the Central Bank of Nigeria (CBN) has signed a Memorandum of Understanding with the Nigeria Cassava Growers Association and Large Scale Cassava Processors. Click here for more.

Lagos set for 18% pension contributions

The Lagos State Government says it will begin the remittance of 18 per cent contributions into its workers’ Retirement Savings Accounts. The Director-General, Lagos State Pension Commission, Folashade Onanuga, disclosed this at the 17th Retirement Benefits Documentation seminar in Lagos. Click here for more.

Senate Pledges to Support AMCON’s Debt Recovery Drive

The Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani, yesterday said the National Assembly will join forces with the executive arm of government to wedge war against obligors of the Asset Management Corporation of Nigeria (AMCON). Click here for more.

North-east listed among most dangerous places for travel, tourism

Protracted Boko Haram crisis in the North-eastern part of Nigeria has earned the region a place among the most dangerous places for tourists in the world. A map designed to alert travellers of risks abroad showed the likes of. Click here for more.

Exclusive: Exxon Aims to Sell $25 Billion of Assets to Focus on Mega-Projects – Sources

Exxon Mobil (XOM.N) plans to sell up to $25 billion of oil and gas fields in Europe, Asia and Africa in its biggest asset sales for decades, seeking to free up cash to focus on a handful of mega-projects, according to three banking sources. Click here for more.

Democrats Leave Trump in Suspense on Where Impeachment Goes Next

Now that House Democrats have wrapped their last scheduled public hearing on Ukraine they have to decide whether to schedule more, or move to the next step toward impeaching President Donald Trump. Click here for more.

China Still Has Policy Space Amid Trade Spat, PBOC Adviser Says

China still has room to adjust its fiscal, monetary and real-estate policies if uncertainty over trade with the U.S. generates further downward pressure on the economy, central bank adviser Ma Jun said Friday. Click here for more.