LAGOS JUNE 7TH (NEWSRANGERS)-The Presidency on Thursday denied reports that the Federal Government was proposing N105,000 as the new minimum wage. The Special Adviser to the President on Information and Strategy, Bayo Onanuga, described the report as false. The report followed the presentation of the cost implications of implementing a new national minimum wage to…
LAGOS JUNE 7TH (NEWSRANGERS)-The Presidency has disowned the two leaked policies in circulation insinuating that the Federal Government may have returned to the payment of fuel subsidy and be considering fiscal measures to battle food inflation in the country. In a release signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy,…
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…