LAGOS APRIL 30TH (NEWSRANGERS)-The Federal Government has introduced new set of taxes on beer, imported vehicles and single use plastics. It has also added to the list of items banned from being imported into the country. Under the newly introduced taxes, the Federal Government will charge N75 per litre of beer or stout imported into…
LAGOS APRIL 28TH (NEWSRANGERS)The Federal Government has suspended plans to remove fuel subsidy by June this year. Minister of Finance, Budget and National Planning, Ahmed Zaniab gave the indication on Thursday, shortly after the National Economic Council, NEC, meeting, chaired by the Vice President, Yemi Osinbajo. She said the NEC, which comprises State Governors deliberated…
LAGOS APRIL 28TH (NEWSRANGERS)-Nigeria’s state oil firm NNPC Ltd signed a memorandum of understanding with Golar LNG of Norway to build a floating liquefied natural gas plant in the country, the company said late on Wednesday. Africa’s biggest oil producer, Nigeria, holds some of the world’s biggest gas reserves and is seeking investment to…
LAGOS APRIL 26TH (NEWSRANGERS)- The action of these two men has shown that Nigeria still has honest people among them. A fashion designer, Abdulrahman Abdullahi has displayed uncommon integrity by returning a huge sum of money he found in a customer’s bag. He said that a client brought a bag of clothes to him for…
LAGOS APRIL 27TH (NEWSRANGERS)-For the third time in less than a month, the rate of exchange (RoE) applicable to foreign airlines has ballooned, hitting N582/$1 with attendant spike in the cost of international air travel. At the new RoE, registered by the Global Distribution System (GDS), a six-hour Lagos-London economy class ticket now fluctuates between…
LAGOS APRIL 23RD (NEWSRANGERS)-The World Bank has recommended a single foreign exchange (Forex) market, urging Nigeria to do away with its multiple forex markets. In its latest ‘Macro Poverty Outlook for Nigeria: April 2023’, the World Bank said unification of the forex markets should be one of the reforms to strengthen the recovery of the…
LAGOS APRIL 19TH (NEWSRANGERS)-Nigeria spent nearly all the revenues it earned last year servicing its debts, the World Bank said in a new report. Debt service as a proportion of government income increased to 96% in 2022 from 83% a year earlier, according to the World Bank. Low revenue and rising interest payments have left…
LAGOS APRIL 19TH (NEWSRANGERS)-Domestic flights in Nigeria were being disrupted on Monday, local airlines said, as aviation employees in Lagos blocked roads to the country’s busiest local airport to begin a two-day strike in protest over working conditions and wages. The strike is likely to add to problems in a sector that regularly faces jet…