Reps Pass Nigerian Insurance Reform Act for Legal, Legislative Framework  The House of Representatives on Wednesday enacted the Nigeria Insurance Industry Reform Act, 2024, to provide for a comprehensive legal and regulatory framework for insurance business in Nigeria. The new Act repealed the Insurance Act, Cap...

AfDB, IITA Sign €5m Deal for 40m Farmers to Boost Agriculture The African Development Bank Group has signed an agreement with the International Institute of Tropical Agriculture to finance Phase II of the Technologies for African Agricultural Transformation programme. The TAAT programme is a core component...

Tax Reform Bills: NITDA, TETFUND to Remain as Reps c’ttee Proposes Major Changes The House of Representatives Committee on Finance has proposed major changes in the tax reform bills sent to the National Assembly by President Bola Ahmed Tinubu. Daily Trust reports that the committee modified...

E-invoicing to Boost tax-to-GDP Ratio, Curb Revenue Loss - FIRS The Federal Inland Revenue Service (FIRS) has stated that the implementation of the electronic-invoicing (e-invoicing) system will boost Nigeria’s tax-to-GDP ratio by improving tax compliance, enhancing transparency and curbing revenue losses. The e-invoicing, according to the...

Nigeria’s Oil production Declines to 1.47m bpd - Report Nigeria’s average daily crude oil production has fallen again below the quota allocated by the Organisation of the Petroleum Exporting Countries. Oil production figures released by the Nigerian Upstream Petroleum Regulatory Commission showed that the country’s crude...

Marketers Predict N800/litre Petrol Sale as Import Cost Drops Major oil marketers in Nigeria have moved to offer a lower price against the gantry loading cost of N825 per litre set by Dangote Petroleum Refinery. This development followed a revelation by marketers that the landing cost...