PEBEC Tasks BoI, NSDC, NEPZA to work on Business Facilitation
The MDA’s overall performance score is based on Efficiency and Transparency measures, with a 70% to 30% ratio, respectively
Read More
Hazards of Smuggling Used Clothes- Comptroller Ugbagu
Comptroller Michael Ugbagu , the Federal Operations Unit, Zone ‘C’, of the Nigeria Customs Service, Owerri, urged the public to refrain from patronising second-hand clothing and support local manufacturers. Comptroller Ugbagu made the call during a press briefing at the command’s headquarters in Owerri, on Wednesday. He highlighted the dangers posed by smuggling used clothing,…
iea’s Webinar on data centre electricity use
The International Energy Agency (iea)’s says that its webinar on ‘ Understanding data centre electricity use in the AI era’, will hold this week Friday , June 27. In a statement, Iea says that its Digital Demand-Driven Electricity Networks (3DEN) Initiative, the IEA 4E TCP Efficient, Demand Flexible Networked Appliances (EDNA) and the Super-Efficient Equipment…
Nigeria’s Entertainment Industry Is Now Worth $10.8bn
Nigeria’s entertainment industry is now worth $10.8 billion in revenue. The US International Trade Administration gave the estimate, emphasising that the industry is largely driven by Nollywood films and Afrobeats music. Nollywood alone produces more than 2,500 films per year.This makes it the world’s second-largest film industry by volume. Afrobeats has also contributed over $8…
Stop rate hikes to allow economic recovery – MAN
The Manufacturers Association of Nigeria (MAN) has enjoined the Central Bank of Nigeria to focus on promoting domestic production and economic recovery by allowing time for previous rate increases to take effect before implementing further hikes. MAN made the call in reaction to the September increase in the Monetary Policy Rate (MPR) by 50 basis…
How Will The New Withholding Tax Affect Manufacturers?
Taiwo Oyedele, the Chairman of the Presidential Task Force on Fiscal Policy and Tax Reforms Committee, shares this insight on the Withholding Tax Regulations 2024 now gazetted and published as part of President Bola Tinubu’s economic reforms. How will the new WHT Regulations affect small businesses? Small businesses will enjoy exemptions from withholding tax under the new…
UBA Says Harmonization of Currency Exchange Rates Boosts HY2023 Earnings
▪︎UBA’s Group MD/CEO, Mr. Oliver Alawuba United Bank for Africa (UBA) Plc says that harmonization of currency exchange rates by the Central Bank of Nigeria, impacted positively on its earnings in the half year ended June 30, 2023. In a statement, UBA’s Group Managing Director/Chief Executive Officer, Mr. Oliver Alawuba, said: “The Group recorded strong…
Diageo sells majority stake in Guinness Ghana to Castel Group for $81 Million
Diageo Plc, a British multinational alcoholic beverage company, with its headquarters in London, England, has announced the sale of its majority stake in Guinness Ghana Breweries to the Castel Group for $81 million. The transaction will see the UK-based beverage giant part with its 80.4% shareholding in the Ghanaian unit while retaining ownership of its…
India’s Jindal Steel Plans $3bn investment in Nigeria
Jindal Steel and Power Limited, one of India’s foremost private steel producers, has made an investment commitment to invest $3 billion in iron – ore processing and steel development in Nigeria. India Steel firms already on the ground in Nigeria, includes African Steel Mills with operations in Lagos and Abuja; Quantum Steel Nigeria Limited; Saba…
CIoD Installs Tijjani Borodo As 18th President, This Thursday
A ceremony to formally install Alhaji Tijjani Borodo as the 18th President and Chairman of Governing Council of the Chartered Institute of Directors Nigeria (CIoD Nigeria) will hold this week Thursday in Lagos. In a statement, Mr. Dele Alimi, the Director – General/ Chief Executive Officer of CIoD Nigeria, said that the high-profile event will…