LAGOS JUNE 5TH (NEWSRANGERS)-The Chairman of the Presidential Tax and Fiscal Policy Reforms Committee, Taiwo Oyedele, has said the proposed plan to increase the Value Added tax rate from 7.5 per cent to 10 per cent will be implemented in phases. This was as he revealed that empirical data had confirmed that less than 10…
LAGOS APRIL 6TH (NEWSRANGERS)-The President Bola Tinubu administration has hinted on another increase in electricity tariffs across the country. This comes barely 48-hours after the Nigerian Electricity Regulatory Commission (NERC) approved increase of electricity tariff for customers under Band A. The Minister of Power, Adebayo Adelabu, disclosed this during a press briefing in Abuja on…
LAGOS FEBRUARY 25TH (NEWSRANGERS)-Nigeria has agreed to restore electricity supply to Niger Republic as the Economic Community of West African States (ECOWAS) yesterday lifted the sanctions on Niger, Mali, Burkina-Faso and Guinea. The sanctions were lifted after the extraordinary summit of ECOWAS on the political, peace and security situation in the sub-region held at the…
By Ndubuisi Ekwekwe LAGOS JANUARY 25TH (NEWSRANGERS)-One of the worst economic policies in Nigeria since 1999 is the current floating of the Naira. That decision has a score of “F” from me, because despite what any person could tell you, from the IMF to the Central Bank of Nigeria, economics is “science” played by the…
LAGOS DECEMBER 2ND (NEWSRANGERS)-The Federal Airports Authority of Nigeria (FAAN), has banned the use of ‘Ghana Must Go’ sacks by passengers at all airports in the country. According to a circular by FAAN, titled, ‘Re: Prohibition of Usage Of Ghana Must Go’, signed by Manager, Airport Services, Henok Gizachew, the ban is particularly for passengers…
LAGOS SEPTEMBER 29TH (NEWSRANGERS)-Nigeria plans to overhaul its tax system to shift more of the burden to wealthy citizens while cutting corporate taxes. The move — part of President Bola Tinubu’s reforms to overhaul the beleaguered economy – aims to lift the country’s tax take to 18% of gross domestic product within three years from…
LAGOS SEPTEMBER 28TH (NEWSRANGERS)-Senator Adams Oshiomhole says government must intervene to stabilise the country’s currency, the naira, saying market forces cannot do such. Nigeria’s currency exchanges for close to N1,000 for a dollar in the parallel market and a pound going for around N1,200 months after the Central Bank of Nigeria (CBN) floated the naira….
LAGOS SEPTEMBER 26TH (NEWSRANGERS)-Presidential candidate of the Labour Party (LP), Mr. Peter Obi, has said efforts of the Federal Government in seeking foreign investors abroad is waste of time if environment for businesses to thrive is not put in place. This is coming on the heels of President Bola Tinubu’s statement on the sidelines of…