Category: Business

Business
Kenya's taxman targets artificial nails, cryptocurrencies, and more to boost government revenue

Kenya’s taxman targets artificial nails, cryptocurrencies, and more to boost government revenue

AGS

Kenya’s tax authorities are implementing new proposals to generate revenue for President William Ruto’s financially strained government. These measures target various sectors, including artificial nails, cryptocurrencies, spaghetti, and social media influencers. Ruto aims to address the country’s heavily indebted economy … Continue reading Kenya’s taxman targets artificial nails, cryptocurrencies, and more to boost government revenue

Business, News
Lagos state government urges residents to plan travel ahead of Dangote refinery commissioning

Lagos state government urges residents to plan travel ahead of Dangote refinery commissioning

AGS

The Lagos State Government has issued a statement urging residents to plan their travel arrangements in the Lekki-Epe corridor between 8 am and 2 pm, ahead of the upcoming commissioning of the Dangote Refinery by President Muhammadu Buhari on May … Continue reading Lagos state government urges residents to plan travel ahead of Dangote refinery commissioning

Business
Nigeria's inflation rate climbs to 22.22% in April 2023, marking fourth consecutive increase

Nigeria’s inflation rate climbs to 22.22% in April 2023, marking fourth consecutive increase

AGS

The latest report from the National Bureau of Statistics (NBS) reveals that Nigeria’s consumer price index (CPI) rose to 22.22% in April 2023, marking the fourth consecutive increase in the country’s inflation rate this year. Compared to the previous month, … Continue reading Nigeria’s inflation rate climbs to 22.22% in April 2023, marking fourth consecutive increase

Business
Ngozi Okonjo-Iweala urges Nigerian governors to embrace reforms for economic growth

Ngozi Okonjo-Iweala urges Nigerian governors to embrace reforms for economic growth

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Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization (WTO), has called on Nigerian governors to adopt reforms that will drive economic growth in their respective states. Speaking at the induction program of governors-elect organized by the Nigeria Governors Forum … Continue reading Ngozi Okonjo-Iweala urges Nigerian governors to embrace reforms for economic growth

Business
Nigeria's oil production dips below one million barrels per day, lowest in seven months

Nigeria’s oil production dips below one million barrels per day, lowest in seven months

AGS

Nigeria’s oil production in April 2023 dropped below the one million barrels per day (bpd) mark, reaching 998,602 bpd, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This represents a significant decline of 21.26 percent compared to the previous … Continue reading Nigeria’s oil production dips below one million barrels per day, lowest in seven months

Business
Lekki port promoters plan transshipment to eastern ports in other to boost local economies

Lekki port promoters plan transshipment to eastern ports in other to boost local economies

AGS

The developers of Lekki Port and Lekki Freeport Terminal (LFT) have revealed their ongoing discussions to transfer containers discharged at Lekki Port to Eastern Ports such as Calabar, Warri, and Onitsha River Port. This move aims to enhance the economic … Continue reading Lekki port promoters plan transshipment to eastern ports in other to boost local economies

Business
Federal government expects N647.7 billion revenue from power projects and rail concessions

Federal government expects N647.7 billion revenue from power projects and rail concessions

AGS

The Nigerian Federal Government is anticipated to earn N647.7 billion from the concession of two power projects, the implementation of e-ticketing on two rail routes, and the Device Management System. The power projects slated for concession are the Gurara II … Continue reading Federal government expects N647.7 billion revenue from power projects and rail concessions

Business
Rainforest alliance suspends certification for two global tea companies following sexual abuse scandal in Kenya

Rainforest alliance suspends certification for two global tea companies following sexual abuse scandal in Kenya

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Rainforest Alliance, a prominent certification body for sustainable development products, has announced the suspension of its certification for James Finlay (Kenya) Ltd and Ekaterra Tea Kenya Plc. This decision comes after an investigation into a sexual abuse scandal in Kenya, … Continue reading Rainforest alliance suspends certification for two global tea companies following sexual abuse scandal in Kenya

Business
Federal executive council grants approval of N4.3 billion for railway station security equipment procurement

Federal executive council grants approval of N4.3 billion for railway station security equipment procurement

AGS

The Federal Executive Council (FEC) has granted approval for the allocation of N4.3 billion to procure security equipment for railway stations nationwide. The decision was made during a recent FEC meeting chaired by Vice-President Yemi Osinbajo at the presidential villa … Continue reading Federal executive council grants approval of N4.3 billion for railway station security equipment procurement

Business
There's limited borrowing space and troublesome situation under President Buhari - Budget Office

There’s limited borrowing space and troublesome situation under President Buhari – Budget Office

AGS

Nigeria’s borrowing capacity is being rapidly exhausted, according to Mr. Ben Akabueze, the Director General of the Budget Office of the Federation. He issued this warning during the induction ceremony for newly-elected lawmakers of the 10th National Assembly held in … Continue reading There’s limited borrowing space and troublesome situation under President Buhari – Budget Office