In the second quarter of 2024, the Company Income Tax (CIT) was recorded at N2.47 trillion, reflecting a substantial growth rate of 150.83% compared to the previous quarter when it stood at N984.61 billion in Q1 2024. In the second quarter of 2024, local payments amounted to N1.35 trillion, whereas foreign CIT payments accounted for […] More
The Value Added Tax (VAT) for the second quarter of 2024Â has reportedly reached N1.56 trillion, reflecting a quarter-on-quarter growth rate of 9.11% compared to N1.43 trillion in the first quarter of 2024. In the second quarter of 2024; Domestic payments amounted to N792.58 billion foreign VAT payments totaled N395.74 billion Import VAT contributed N372.95 […] More
Now that NNPC has said they are not the sole off-taker of Dangote petrol, it then means that the price of the product would determine where we are going to buy it. If NNPC imports the product and its price is cheaper than that of Dangote, we will buy from NNPC. The National Publicity Secretary […] More
As of September 8, 2024, the black market exchange rate for the US dollar to Nigerian naira is approximately ₦1,675 for $1. The buying rate is around ₦1,660 per dollar, while the selling rate is ₦1,675. This marks a notable disparity compared to the official Central Bank of Nigeria (CBN) rate, which is ₦1,621 per […] More
In statement released today by Olufemi SoneyeChief Corporate Communications Officer. The NNPC has stated that they are not the exclusive buyer, indicating that the market is available for competitive pricing from any local refinery. NNPC Ltd Not the Sole Offtaker; Market Open to Lower Prices from Any Domestic Refine “The attention of the NNPC Ltd […] More
The smartphone market in Nigeria is experiencing a significant downturn, primarily driven by economic challenges such as high inflation, currency instability, and slow GDP growth. According to a report by techinafrica.com, these factors have drastically reduced the purchasing power of Nigerian consumers, leading to a notable decline in the demand for new smartphones. As a […] More
The Dangote Petroleum Refinery has said that it will export its petrol if the NNPC and other oil distributors in the country choose not to patronise it. On Monday, Devakumar Edwin, the Vice President of Oil and Gas at Dangote Industries Limited, shared this insight while appearing on the live broadcast of the Brekete Family […] More
The governor of Kaduna state, Sen. Uba Sani and Huawei Technologies Company, today signed MOU for the ac2501tualization of the SMART CITY PROJECT in Kaduna State. The Governor said: “Today, I had the honor and privilege of signing a Memorandum of Understanding between the Kaduna State Government and Huawei Technologies Company, Nigeria Limited at the […] More
Nigeria’s GDP experienced a growth of 3.19% in the second quarter of 2024, according to the National Bureau of Statistics. In the second quarter of 2024, Nigeria’s Gross Domestic Product (GDP) experienced a year-on-year growth of 3.19% in real terms. The current growth rate surpasses the 2.51% observed in the second quarter of 2023 and […] More
The Nigerian Exchange Ltd. has lifted the suspension placed on trading in the shares of Guinea Insurance Plc, effective August 12. NGX, in its weekly report made available to journalists in Lagos confirmed that the suspension was lifted because the insurer had filed its audited financial statements for the year ended December 31, 2023. The […] More
The customs CG said that rice importation through the land border was still restricted. Despite approving duty-free importation for major food items, including rice to cushion the impact of food price hike, the Nigeria Customs Service said the order by President Bola Tinubu did not include grain importation through land borders. Addressing journalists, the Comptroller-General […] More