Time running out for reforms, Dangote, Sanusi, others tell Buhari

Key private sector players on Monday told President Muhammadu Buhari that time is running out for Nigeria to usher in economic reforms to cater for a bulging population estimated to hit 410 million in 2050. The private sector players at the ongoing 25th edition of the Nigerian Economic Summit (#NES 25) in Abuja said the country’s education system needs an overhaul as it is failing to meet the needs of employers. Click here for more.

FEC Okays N700bn National Assembly Increase In 2020 Budget

The Federal Executive Council on Monday agreed with the increase in the Medium Term Expenditure Framework by the National Assembly from N10.02tn to N10. 72tn. FEC also commended the National Assembly for raising the crude oil benchmark from $55 per barrel to $57 per barrel. Click here for more.

Investors Lose N58.92bn As NSEASI Dips By -0.45% To Open The Week Negative

Equities market closed yesterday on a negative note, as NSEASI depreciated by -0.45% to close at 26,866.41 points as against -0.36% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.52%. Click here for more.

Nigeria’s population, a liability, says Sanusi

The Emir of Kano, Mohammadu Sanusi II, has said that the Nigeria’s huge population is currently a liability to the country. He said this on Monday during a panel session at the 25th Nigerian Economic Summit in Abuja. Click here for more.

Border closure: Prices of rice, frozen chicken soar

The closure of the country’s borders seems to have led to increase in prices of some food items such as rice, frozen chicken and turkey. Observers say if the borders are not opened before December, it portends a bleak Christmas for many Nigerians, given the astronomical rise in the prices of both the local and imported rice. Click here for more.

Court Bars FIRS From Enforcing VAT On Goods Consume In Hotels

Justice Aikawa gave the order while delivering judgment in the suit seeking to restrain the Attorney General (AG) of Lagos State from enforcing the Hotel Occupancy and Restaurant Consumption (Fiscalisation) Regulations Law (HORC), 2017, in the view that VAT Act has covered the field. Click here for more.

FG to Commence Database Capturing of MSMEs Nationwide

The federal government has announced plan to commence national database capturing of all micro, small and medium sized enterprises (MSMEs) nationwide, in a bid to enhance support towards the sector. Click here for more.

SON urges importers to venture into manufacturing

The Standards Organisation of Nigeria (SON) has urged importers to venture into manufacturing to create create wealth and jobs for the nation’s teeming unemployed youths. The standards body said establishing manufacturing plants would go a long way to save the country of foreign exchange (forex) since most of what is imported into the country can be manufactured locally. Click here for more.

Prepare For Prolonged Strike, Union Tells Nigerians

The Nigeria Labour Congress (NLC) on Monday urged the nation’s workers and the citizenry to brace up for a prolonged nationwide strike as the ultimatum it issued to the Federal Government to implement the N30,000 new minimum wage has expired. Click here for more.

Hopes For A Deal Dim As U.S.-China Trade Talks Get Underway In Tense Atmosphere

Prospects for progress in U.S.-China trade talks dimmed on Monday after Washington blacklisted Chinese companies over Beijing’s treatment of predominantly Muslim ethnic minorities, and President Donald Trump said a quick trade deal was unlikely. Click here for more.

U.S. Blacklists Eight Chinese Tech Companies on Rights Violations

The Trump administration placed eight Chinese technology giants on a U.S. blacklist on Monday, accusing them of being implicated in human rights violations against Muslim minorities in the country’s far-western region of Xinjiang. Click here for more.

Kenya’s Biggest Bank Chases Down Defaulters to Stem Loan Losses

KCB Group Plc is pursuing defaulters as Kenya’s biggest lender combines recently purchased National Bank of Kenya Ltd. into its operations. “You’ll see more actions, more demand letters going after our customers” who aren’t repaying loans. Click here for more.