▪︎Aliko Dangote with Sen Heineken Lopkobiri. Photo credit: Sen Heineken Lopkobiri’s X. In Summary 1. Nigeria and Africa can become completely self-sufficient in petroleum products, and saves annual imports bill of $17 billion. 2. Nigeria must develop a refining capacity of 1.5 million barrels per day and prioritise domestic crude supply obligations. 3. He urged…
▪︎Alhaji (Dr ) Adeniji Murthada Adeyemi, MD/CEO , Starlink Global & Ideal Limited, African Export-Import Bank (Afreximbank) has approved a US$20.8 million financing facility for Nigeria-based Starlink Global & Ideal Limited to enable the company construct and operate a 30,000-metric tonne per annum cashew processing factory in Lagos. According to the facility agreement signed on…
▪︎VP Kashim Shettima at the Enugu Fashion and Garment Hub Vice-President Kashim Shettima , on Thursday, commissioned an Ultra-Modern MSME Fashion Hub in Enugu State. The Enugu State Fashion and Garment Hub is a facility developed by the Office of the Vice President of Nigeria in partnership with the Enugu government through the Enugu SME…
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…
▪︎Dr. Doris Anite -Uzoka, Minister of Industry, Trade and Investment From the ban on styrofoam, popularly known as “take away packs” to Single-Use Plastics (SUP), the Lagos State Government is on the march again to ban pure water and table waters starting January 2025. The state’s Commissioner for Environment and Water Resources, Tokunbo Wahab, revealed…
▪︎File photo of Coca-Cola The U.S. Labor Department’s Bureau of Labor Statistics (BLS) says owing to investments provided by the Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act, over 700,000 new manufacturing jobs have been created and over $910 billion in private manufacturing investments have been announced nationwide in the industries of the future….
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has noted that while the most vulnerable people are paying multiple taxes, the middle, upper class and the politicians are evading tax. The Nation, reported that Oyedele said this on Thursday, during the Integrated National Financing Framework (INFF) Core Working Group Retreat…
The Botswana High Commissioner to Nigeria, Miss Philda Nani Kereng, is pushing for increase bilateral trades between the two countries.She commended the Nigerian governments for doing so much for the Micro, Small and Medium Enterprises (MSMEs). Kereng, who spoke on Monday in Abuja on the occasion of her country’s 58 Independence anniversary, said: ” Currently, the trade…
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…
