Goronyo Announces Steering Committee to Tackle FERMA’s Funding Challenges In a strategic move to address the persistent funding challenges faced by the Federal Roads Maintenance Agency (FERMA), the Honourable Minister of State for Works, Bello Muhammad Goronyo, Esq., has unveiled plans to establish a steering...

Manufacturers, Others Fume Over 4% Levy on Imports The imposition of a four per cent increase in charges on all consignments imported into the country by the Nigeria Customs Service (NCS), last week, drew disapproval from manufacturers, economists and other stakeholders at the weekend. The...

10 Top Manufacturers in Nigeria Face N666bn Cost Challenge   The cost of sales for 10 manufacturing and consumer goods companies in Nigeria surged to N665.95bn in 2024, reflecting a 72.47 per cent increase from N386.16bn recorded in 2023. The company’s statement of profit or loss and other comprehensive...

Naira Sustains Gains, Sells at ₦1,565/$ in Parallel Market The naira continued its upward trend on Monday, gaining ₦45 against the dollar in the parallel foreign exchange market. As of Monday, February 10, 2025, the naira was trading at ₦1,558/$ (buy) and ₦1,565/$ (sell), though market...

Nigeria, World Bank Target Capital Market to Bridge Infrastructure Funding Gap   The Federal Government of Nigeria has initiated discussions with the International Finance Corporation (IFC), a member of the World Bank Group, to develop policies that leverage the capital market and other funding options within the country....

IGR: 30 States Rake in N2.8tn, Spend N3tn on Operational Costs - Report  An analysis of the 2024 full-year budget implementation report of state governments has revealed that 30 state governors generated N2.8tn as Internally Generated Revenue but disbursed N3.03tn on operational costs. The N.03tn was...