Why Nigeria should start taxing vacant houses – UN
The United Nations (UN) has advised the Nigerian Government to start taxing vacant houses in the country. Speaking at a news conference in Abuja, UN Special Rapporteur on the Rights to Adequate Housing, Leilana Farha said there was a need for the Nigerian Government to address housing challenges in the country by imposing vacant home tax on citizens. Click here for more.
FG Injects N1.5trn In Power Sector In 2yrs
Vice President Yemi Osinbajo has said the federal government has injected about N1.5 trillion intervention fund into the power sector in the last two years, even as frequent outage persists across the country. Click here for more.
FG denies Guinness, Dangote, 13 others tax relief
The Nigerian Investment Promotion Commission has rejected the application of 15 companies seeking pioneer status under the Industrial Development Income Tax Act. The pioneer status is an incentive from the Federal Government which exempts companies from income tax. Click here for more.
Nigeria, China’s bilateral trade hits $8.6bn
Nigeria and China recorded $8.6bn bilateral trade between January and June 2019. There had also been an increase in the projects undertaken by China in the country. The Consul General, Chu Maoming, said this in his speech at the reception to mark the 70th anniversary of the founding of the People’s Republic of China in Lagos. Click here for more.
Market Sentiment Remains Negative As NSEASI Dips Further By -1.08%
Equities market closed today on a negative note, as NSEASI depreciated by -1.08% to close at 27,352.24 points as against -0.17% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.98%. Click here for more.
FMDQ Boss Lists Benefits of Depository Subsidiary to Financial Markets
The Managing Director/Chief Executive Officer, FMDQ Securities Exchange Plc, Mr. Bola Onadele.Koko has said that an effective and fully developed securities depository system is essential for maintaining and enhancing market efficiency. Click here for more.
CBN Warns Banks Against Excessive Treasury Bill Investments
The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, on Tuesday warned Deposit Money Banks against excessive investment in fixed securities to the detriment of real sector financing. Click here for more.
World Bank, IFC Agree To Support Nigeria’s Devt
The World Bank Group and the International Finance Corporation (IFC), have promised to continue to support Nigeria in bridging its infrastructure gap. The two organisations gave the commitment in a statement issued by the World Bank’s Senior Communications Office in Nigeria yesterday in Abuja. Click here for more.
Staff salaries rise to N631 billion per annum for Nigeria’s largest corporations
Salaries and wages of some of Nigeria’s largest corporations topped N631 billion at the end of 2018 representing a 22% growth from the N515.8 billion recorded in 2015. Nigeria has faced economic hardship since 2015 following the fall in the price of oil sliding into a recession in 2016. Click here for more.
Brent Crude Price Drops To $63.13/Barrel
Brent crude oil recorded a marginal drop in price on Tuesday, as it shed $1.64 to close at $63.13 per barrel. Figures from international crude prices showed that the commodity traded for $64.64 per barrel the preceding day. Click here for more.
Trump’s China Trade Rhetoric Turns Harsh At U.N., Says Won’t Take ‘Bad Deal’
Four days after deputy U.S. and Chinese negotiators held inconclusive talks in Washington, Trump’s remarks were anything but conciliatory and emphasized the need to correct structural economic abuses at the heart of the countries’ nearly 15-month trade war. Click here for more.