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The total number of local and foreign companies exempted from remitting tax revenue to government coffers increased to 105 as of December 2024, The PUNCH reports. Dangote Fertilisers, Mikano International Limited, and 103 others are included in this list. This came amid uncertainties over the programme’s effectiveness and the government’s announced plan to discontinue the
Justice Deinde Dipeolu of the Federal High Court in Lagos has ordered 54 banks to immediately return a total of N9,329,322,870 fraudulently transferred by hackers from an unnamed old generation bank. The judgment, delivered on April 15, 2025, follows an ex parte motion filed in suit number FHC/L/CS/629/2025. The court directed the financial institutions to
President of Port Harcourt Chamber of Commerce, Dr. Chinyere Nwoga, has tasked journalists in Rivers State to sustain efforts geared towards projecting the state in a positive light via shifting the narrative in the state from perception to reality, even as she noted that journalists play a huge role in attracting or discouraging investors and
The Enugu State Government and the Lion Business Park Limited have signed a Memorandum of Understanding to build a world-class industrial and commercial hub within the Enugu Industrial Park Free Trade Zone. In a speech at the brief event at the Government House, Enugu on Tuesday, Gov. Peter Mbah said the project would leverage the
The Minister of Steel Development, Prince Shuaibu Audu, has reaffirmed the Federal Government’s commitment to creating an enabling environment for the steel sector to operate effectively. Audu made this known during a courtesy visit to Gov. Babajide Sanwo-Olu of Lagos State, on Tuesday at Ikoyi. The minister promised that the Federal Government would ensure that
) The International Monetary Fund (IMF) has released it new economic outlook report, reversing Nigeria’s economic growth projections for 2025 and 2026. The April report was released on Tuesday during World Economic Outlook (WEO) at a press briefing at the ongoing IMF/World Bank 2025 Spring Meetings in Washington, D.C. The report cut the forecast for
Minister of Power, Adedayo Adelabu, announced on Thursday at the 2025 Ministerial Sectoral Update Conference that approximately 150 million Nigerians now have access to adequate electricity. However, he acknowledged that around 80 million citizens still lack reliable power sources. Adelabu highlighted that this progress is largely attributed to Nigeria’s involvement in the “Mission 300” initiative.
Only political will can achieve 24-hour port operations, says a former President of the Nigeria Association of Government Approved Freight Forwarders (NAGAFF), Dr Eugene Nweke. Nweke stated this on Thursday in Lagos during the Fifth Town Hall Meeting, organised by JournalNG. According to him, 24-hour port operations are achievable if the government issues a clear
President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has paid a courtesy visit to former President Muhammadu Buhari to express appreciation for his unwavering support during his tenure at the Bank. Adesina’s second term as AfDB President concludes in September. He said the visit was an opportunity to thank Buhari for backing his
The Pro-Chancellor of Edwin Clark University, Delta State, Prof. Oladapo Afolabi, has stressed the need for the full implementation of the University Autonomy Act for academic development. Afolabi, a former Permanent Secretary Federal Ministry of Education and former Head of Civil Service of the Federation, said this on Thursdayat the valedictory speech and book presentation
