Import Tax: FG Eyes N124bn from 0.5% Imposition The Federal Government is set to make about N124.26bn in a year from the imposition of a 0.5 per cent import tax on goods introduced in Finance Bill 2023. The Finance Bill 2023 which was signed into law...

AfDB Approves $20m Investment Fund for Africa’s Renewable Energy The African Development Bank, Board of Directors, approved an equity investment of $20m in Evolution Fund III, a pan-African clean and sustainable energy private equity fund that will invest about $400 million in renewable energy and...

Floods: FG Receives N109.3bn Support, Constructs Mini-dams   The Federal Government has received $249m (N109.3bn at Tuesday’s official exchange rate of N439.02/$) from the African Development Bank ($244m) and the International Fund for Agricultural Development ($5m) for flood impact mitigation and food production. It has also commenced...

AfDB, Others Vow to Strengthen Trade, Investment in Africa The African Development Bank (AfDB), Afreximbank, and six other partners have reaffirmed their commitment to better leverage guarantee and insurance products in Africa. In a statement issued on its website, AfDB, said the six partners were collaborating...

Amid Revenue Crisis, Nigeria’s Debt Rises to N42.84tn - DMO Report The Debt Management Office official report has shown that domestic debt pushed Nigeria’s total public debt stock from N41.60tn as of March 2022 to N42.84tn as of June of the same year, showing an...

Nigeria Spent $5.26bn Importing Generators, Others- ITC The International Trade Centre data has revealed that Nigeria spent $5.26bn importing electric generating sets, electric transformers, vacuum cleaners, hair clippers, and other electrical machinery and equipment in 2020 and 2021. In a recent report, the National Bureau of...