Just another News Updates
Zamfara State has emerged as the leading state in internal revenue generation (IGR) growth in Nigeria, according to the 2024 BudgIT report. The annual report, published last Tuesday, evaluates the long-term budget performance and fiscal sustainability of each Nigerian state, highlighting Zamfara’s impressive leap in revenue collection. In a statement, Zamfara State Governor’s spokesperson, Sulaiman […]
Vice President Kashim Shettima revealed on Tuesday that Nigeria incurred losses of over ₦300 billion during the nationwide #EndBadGovernance protests that took place in August 2024. Shettima shared this during an event held to receive 114 protesters, both minors and adults, who had been arraigned by the Nigeria Police Force but were discharged by a […]
An estimated 14 million Nigerians were pushed into poverty in 2024 due to low labor income amid rising inflation, according to the World Bank’s latest ‘Macro Poverty Outlook: Country-by-Country Analysis and Projections for the Developing World’. The report reveals that nearly 47% of Nigeria’s population now lives below the international poverty line of $2.15 per […]
President Bola Tinubu has resisted a recommendation by the National Economic Council (NEC) to withdraw the tax reform bills that have stirred public debate. The Northern Governors’ Forum recently expressed opposition to the bills, asserting that they did not align with the interests of the northern region. Following its Thursday meeting, the NEC recommended that […]
The Federal Government has announced a nine-month window for Nigerians who are holding U.S. dollars outside the banking system to bring these funds into formal financial channels without facing legal or financial penalties. This new policy was introduced by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during a press briefing […]
Northern governors have voiced strong opposition to the proposed Tax Reform Bill, advocating against its passage in the National Assembly. Their primary concern is that a derivation-based Value-Added Tax (VAT) distribution model would financially disadvantage northern states, given that many multinationals, which contribute heavily to VAT, are headquartered outside the region. Gombe State Governor, Mohammed […]
Zamfara State’s Commissioner for Budget and Economic Planning, Hon. Abdulmalik Gajam, has announced that the 2025 budget is strategically designed to advance a “New Zamfara.” Speaking at a one-day stakeholder town hall meeting organized by the state Ministry of Budget and Economic Planning, Gajam emphasized that the budget aligns with Governor Dauda Lawal’s “Renewed Hope” […]
The Central Bank of Nigeria (CBN) has clarified that the old ₦200, ₦500, and ₦1,000 banknotes will remain legal tender indefinitely, countering reports that they would cease to be accepted by December 31, 2024. In a statement released on Thursday, the acting Director of Corporate Communications, Sidi Hakama, dismissed such claims as false and an […]
The House of Representatives has urged the Central Bank of Nigeria (CBN) to begin the phased withdrawal of old ₦200, ₦500, and ₦1,000 notes ahead of the December 31, 2024 deadline. During a plenary session on Thursday, lawmakers also called on the CBN to accelerate the distribution of new banknotes to ensure a smooth transition […]
The Federal Government has officially ended subsidies on fuel and foreign exchange, according to an announcement made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Thursday. Speaking at the presentation of the Nigeria Development Update by the World Bank in Abuja, Edun explained that the subsidies had drained the […]