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The Federal Government is set to increase Value Added Tax (VAT) between 35-50 percent to enable the government to pay the minimum wage. Minister for Budget and National Planning, Udo Udoma disclosed this on Tuesday through Babatunde Fowler, chairman First Inland Revenue Service.

The Central Bank of Nigeria (CBN) has revealed that there is hope that Nigeria will be the world’s third-largest palm oil producer. This was disclosed yesterday by the CBN Governor, Godwin Emefiele in Abuja while addressing stakeholders in palm oil industries.

Investors Set To Acquire Yola Electricity Distribution Company(YEDC)


Disclosure made by the Bureau of Public Enterprises (BPE) on Monday, the 18th of March, 2019 revealed that a total of five bids has been received for the purchase of YEDC. And March 15, 2019, has  been set as deadline for the submission of technical and financial proposals for the acquisition of YEDC and Afam Electricity Generation Company (Afam Power Plc & Afam Three Fast Power Limited).

Production Resumes At Dangote’s Tomato Plant In Kano

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Activities have recently kick-off at the hitherto closed tomato paste factory owned by Alhaji Aliko Dangote, Africa’s richest man. Work was observed to have resumed in the factory located in Kano state of after being redundant for more than two years due to a supply disruption partly caused by a price dispute with the local farmers.

Nigeria's Inflation Rate Drops To 11.31% – NBS

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Nigeria's statistical agency, on Friday, disclosed that the Consumer Price Index which measures inflation has dropped from 11.37 percent in January to 11.31 percent in February. The 11.31 percent represents a decline of 0.06 percentage points lower than the rate recorded in January.

NNPC To Take Over Operation Of OML From Shell - Buhari

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As part of plans to boast the nation's revenue base, President Muhammadu Buhari on 13th March 2019 ordered the Nigerian National Petroleum Corporation to take over the operatorship of the entire Oil Mining Lease (OML) 11 from Shell Petroleum Development Company.

The Ogun State Command of the Nigeria Police on Saturday paraded three suspects who reportedly smuggled 34, 865 live cartridges from the Republic of Togo into Nigeria through Ogun border.

Mike Adenuga Now Africa's Second Richest Person


Owner of Globalcom, the third-largest mobile phone network provider, Conoil oil CEO, Mike Adenuga has been named Africa's second richest man, with a net worth of $9.2 billion only being topped by another Nigerian Aliko Dangote with $10.3 billion.

N359 million Spent By Nigerians Over The Yuletide


The Yuletide season has reached its twilight, it was recorded that several Nigerians took to the street and markets to make it a memorable one and others found self-gratification in the movies.

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