In Five Years, Nigeria Lost $10.8bn In Telecom Sector     Nigeria lost $10.8bn in the last five years to capital flight in the telecommunications sector amid lingering foreign exchange scarcity in the country. In its ‘National Policy for the Promotion of Indigenous Content in the Nigerian Telecommunications...

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...

Nigeria is Far from a Hopeless State - NIPR     Contrary to insinuations of Nigeria being a hopeless state, the Nigerian Institute of Public Relations (NIPR) has said that the country has the potentials of emerging as foremost nation of the world. The Chairman, NIPR Integration, Peace...

Manufactured Imports Rise To N40.94trn       Between January 2017 and March 2021, Nigeria spent N40.94tn on the importation of manufactured goods. It earned only N4.22tn on the export of manufactured goods within the same period. These are according to data obtained from the Foreign Trade report of the...

Foreign Investors’ Interest In Nigeria Drops By 27.5% In Q1, 2021       Nigeria received about $8.4bn investment announcements as at 4th March 2021, out of which $5.46bn were pledged by foreign investors. The remaining $2.08bn was promised by domestic investors, statistics obtained from the Nigerian Investments...

Nigeria: It’s Time to Stop the Borrowing Binge, by Kingsley Moghalu     The rate at which Nigeria’s public debt has increased in the last six years is unprecedented, alarming, and unsustainable. From $10.31 billion at the end of June 2015, the total external debt increased to...