Capital Importation Drops By 48% - CBN   Capital importation into the country for the production and manufacturing sector crashed by 48.42 per cent in 2022. Economic Confidential observed that foreign investments in manufacturing businesses in the country fell from $100.97m in January 2022 to $52.08m in...

Nigeria To Earn N6trn Yearly From Fuel Subsidy Removal, Says CPPE     The removal of fuel subsidy would unlock a minimum of N6 trillion in revenue into the federation account annually. This was disclosed by an economic think tank, the Centre for the Promotion of Private Enterprise...

"Nigeria’s Corporate Tax Rate, Global Highest"   The Centre for the Promotion of Private Enterprises (CPPE) has called for the review of Nigeria’s tax laws, saying that the corporate tax at about 34 percent represents the highest globally. The firm noted that the current tax regime stifles...

FG Spent N1trn On Steel Imports In Nine Months Federal Government has spent $1.038 trillion on iron and steel imports in the last nine months. In a similar fashion, the Federal Government pumped N21.3 billion into the moribund Ajaokuta Steel Complex between 2016 and early 2022. The...

OPEC Says Nigeria Loses N101bn Oil Revenue The Organisation of Petroleum Exporting Countries recent date has revealed that Nigeria’s crude oil production plunged by 2.3 million barrels in July 2022 when compared to what the country produced in the month of June. In its latest Monthly...

Increase in Diesel Will Lead to Fuel Hike - Experts Analysts at the Lagos Chamber of Commerce and Industry and the Centre for the Promotion of Private Enterprise have said that the soaring cost of diesel is expected to accelerate inflationary pressure on the economy...