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Nigeria: How N215 Billion Import Waiver Was Disbursed in 4 Years, Mostly During ‘Night Visits to President’

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A total N215 billion in import duty exemptions was granted in four years, between 2011 and May 2014 under the leadership of ex-President Goodluck Jonathan, PREMIUM TIMES can report today. Most of the waiver deals, it was gathered, were sealed during midnight visits to the presidential villa. Data obtained from the Budget Office of the Federation detail a fiscal policy ...

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Nigeria: How We Will Get Nigeria Out of Recession – Govt

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The Federal Government has declared that it has a long way to go in terms of fixing the economy. Finance Minister Kemi Adeosun said this on Wednesday while fielding questions from State House reporters after a meeting of the Federal Executive Council presided over by President Muhammadu Buhari. The minister admitted that this was the worst possible time for the ...

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Nigeria: Oil Market Volatility May Last Till End of 2017 – Shell

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Global oil giant, Shell said oil market volatility prompted by huge oversupply which has weighed on prices for the past two years may not likely clear until the second half of 2017. The potential return to the market of some 1.5 million barrels per day of supply from Libya and Nigeria and uncertainty about Iranian and Iraqi production levels could ...

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Nigeria economy contracts, slides into recession

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Nigeria’s gross domestic product (GDP) contracted by 2.06 percent in the second quarter, the statistics office said on Wednesday, sending Africa’s biggest economy into a recession after a decline in the first quarter. The Nigerian Bureau of Statistics (NBS) said the non-oil sector declined due to a weaker currency while lower oil prices dragged the oil sector down. Output shrank ...

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Nigeria: Actionaid Condemns Planned Tax On Phone Calls, Text Messages, Data

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ActionAid Nigeria on Tuesday frowned at the proposed Communication Service Tax (CST) bill and urged the federal government to reject the bill. The group, which is the Nigerian arm of the global movement of people working together to promote human rights and defeat poverty, said imposition of the new tax would worsen the poverty situation of consumers. The country director ...

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Nigeria: ‘Nigeria to Create 758,500 Jobs for Youth Through Agriculture’

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The Federal Government says it will create jobs for over 758,500 youth across the country under the Youth Employment in Agriculture Programme (YEAP) to boost agricultural productivity. Mrs Karima Babangida, the National Programme Coordinator said this on Tuesday in Katsina during the inauguration of Katsina State YEAP Steering Committee. Represented by Mr Suleiman Aliyu, Babangida said that the three-year programme ...

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South African Airlines marks one year of Accra-Washington flights [photos]

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The South African Airlines (SAA) has celebrated one year of its non- stop travel between Ghana and the United States. The SAA, launched the Accra Washington route on August 2, to among other things strengthen SAA’s presence in West Africa. The event was attended by  the South African  High Commissioner  to Ghana, H.E Lulu Xingwana,  the  Country Director for  South ...

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Nigerian bank execs meet central bank over FX market suspension – sources

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Nigerian bank executives met with central bank officials, banking sources told Reuters on Wednesday, a day after the monetary authority suspended nine lenders from foreign exchange transactions for failing to remit money owed to the government. The suspensions from the interbank market were imposed after the banks failed to remit $2.1 billion, the government’s share of dividends from state-owned gas ...

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