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The Labor Party has criticized the proposed salary increase for political office holders by the mobilization of income, allocation and fiscal commission (RMAFC), describing the step as “unreasonable” in facing the country’s economic challenges. In a statement issued on Friday by the Secretary of the Temporary National Publicity, Tony Akeni, the party warned the commission against the process with the …

The Nigerian equity market yelled at a three -day -old defeat on Friday because investors received N505 billion at the close of trading that day. This follows the surge in the stock prices of FTN Cocoa PLC, Beta Glass PLC, and Veritas Kapital Assurance PLC, among others, on the trading floor. The Benchmark All-Share Index (ASI) rose to 141,004.14 points …

Three levels of government on Friday share N2 trillion as an income allocation for July. The Director of Information and Public Relations at the Ministry of Finance, Muhamed Manga, revealed this in a statement issued at the end of the Federation Account Allocation Committee (FAAC) this month led by the Minister of Finance and the Coordinating Minister for Economic, Wale …

The federal government has announced plans to compensate for 2.7 trillion debt owed to the gas company by utilizing royalty loans. The Head of the Nigerian Hulu Oil Regulation (NUPRC) Executive Commission, GBENGA KOMOLAFE, revealed this on Thursday during a virtual meeting organized by the Minister of State for Oil Resources (Gas), Ekpo Experikpe, to mark their second year in …

Tinubu Bola President on Friday encourages Nigerians to use the newly introduced personal income tax calculator, which is designed to help citizens estimate their tax obligations based on new tax reforms. In a statement distributed on his official X account, the President said the tool allows individuals to compare their current tax rates with projections under the new framework, which …

Here are the top 10 stories throughout the country. 1. Analysis: How the Nigerian Electric System Condensing Poverty, Hampers Productivity For the third year in a row, the World Bank ranks Nigeria as a country with the poorest electricity access with more than 86 million Nigerians who live in the dark. Read more 2. The economy shows stability, but the …

The Nigerian equity market fell further on Thursday because investors lost the N781 billion at the close of trading that day. This follows the decline in the price price of the University Press PLC, International Energy Insurance, and Thomas Wyatt PLC, among others, on the trading floor. The Benchmark All-Share Index (ASI) fell to 140,332.44 points from 141,566.30 points recorded …

When Nigeria introduced service -based electricity tariffs in 2020, its mission was clear: to increase equality in electricity tariffs. Five years later, the evidence shows that this system cannot provide stable and affordable electricity, has a negative impact on productivity, and deepens poverty for 86.8 million Nigerians, more than 30 percent of the population. For the third year in a …

The Nigerian Employer Consultative Association (NECA) has warned that while the new reforms may have attracted the country’s economy to come out of the “intensive care unit,” millions of Nigerians are still staggered from inflation, weakening requests, and several taxation. This group reacted to comments by the Director General of the World Trade Organization (WTO), Ngozi Okonjo-iweala, who recently stated …

The Nigerian anti-corruption campaign has recorded a dramatic surge in the sentence over the past 15 years, with the Economic and Financial Crime Commission (EFCC) which has been securing unprecedented success in recent times. Data from SBM Intel tracking petitions, prosecutions and sentences from 2010 to 2024 shows that while the agency struggles in the early years to change the …