Food Prices Soar As Inflation Drops To 17.75%
Prices of food continued to rise as the Consumer Price Index (CPI) which measures inflation (rate of change in the increase in prices) increased by 17.75 percent in June 2021, signifying a 0.18% drop compared to the...
ECOWAS Advices Nigeria To Raise VAT On Hotels, Others
The Economic Community of West Africa States has canvassed an increase in the Value Added Tax on luxury items including perfume, wine and other alcoholic beverages, fuelling speculations about inflation on the items.
According to ECOWAS, Nigeria...
Banks’ Total Assets Rise By N6.97trn In A Year
The total assets in the banking sector rose by N6.97tn between April 2020 and April 2021, according to the Central Bank of Nigeria.
Despite the effect of the COVID-19 pandemic, the assets rose from N46.2tn to N53.17tn...
FG Spent 72% Of Revenue On Debt Servicing
The Federal Government made a total of N3.25tn in 2020, according to a review of the budget performance of the 2020 Appropriation Act.
The review also showed that the Federal Government spent a total of N2.34tn on debt...
FEC Awards N309.9bn Road Contracts To Dangote
The Federal Executive Council on Wednesday approved the award of a contract to Dangote Industries for the construction of five roads totaling 274.9 km at the cost of N309.9bn to be advanced to the company as tax credit.
Minister...
Customs Seize N3.3bn Worth Of Smuggled Goods In June
Customs Area Controller, Federal Operations Unit, Zone A, Usman Bello Yahaya, said on Wednesday that the Unit recorded a total of 144 seizures with a Duty Paid Value (DPV) of N3.3 billion in June 2021.
He said...
