VAT Hike Will Kill Businesses, Shrink GDP, Experts Say Experts and groups such as the Nigeria Employers’ Consultative Association have said the recent increase in the Value Added Tax rate from five per cent to 7.2 per cent will lead to closure of many businesses. The...

Insurance in Nigeria started gaining ground in the early part of the nineteenth century. The British Bank of West Africa started operating as an insurance agent in 1894, while the Royal exchange assurance of London was the first to set up a branch office...

Fitch Ratings has assigned Nigeria’s $300m Diaspora Bond ‘B+(EXP)’ indicating that the relative stability in the foreign exchange market with reversal of the slide in gross domestic products, GDP, did not reflect in the expectations for the bond offer. The rating agency added that the...

The Debt Management Office (DMO) Monday revealed that Nigeria’s total debt stock increased to N19.15 trillion at the end of first quarter 2017, from the N17.36 trillion at the end of last year. According to the DMO, the external component of the country’s debt stood...

Acting President Yemi Osinbajo has inaugurated the Nigeria Industrial Policy and Competitiveness Advisory Council, which will spearhead the industrial agenda that will boost the contribution of manufacturing to the country’s Gross Domestic Product (GDP) by 250 per cent over a five-year period. The ambitious agenda...

Nigeria’s Gross Domestic Product (GDP) contracted by -0.52 per cent (year-on-year) in real terms in the first quarter (Q1) of 2017, a report by the National Bureau of Statistics (NBS), has indicated. The NBS report, tagged, ‘Nigerian Gross Domestic Product Report for first quarter 2017’...