First of all, no panic. The VAT you pay when you buy something? It hasn’t changed. It’s still 7.5%. So if you’re buying soap, fuel, electronics, or even paying for services, nothing extra is added yet. Also, companies, whether big or small, are still paying 30% of their profit as company income tax. No increase
Qatar has reaffirmed its commitment to deepening economic ties with Nigeria, with special focus on agriculture, food security, and petrochemicals. The confirmation came during a high-level diplomatic exchange, where Abdulaziz Al-Khulaifi, the Qatari Minister of State for Foreign Affairs, disclosed that several Qatari companies are already expressing strong interest in entering the Nigerian market. “Our
President Bola Ahmed Tinubu has welcomed fresh investment initiatives from Qatari investors aimed at exploring Nigeria’s vast agricultural potential, reaffirming the country’s openness to strategic and mutually beneficial partnerships that support economic diversification and food security. The President gave the assurance during high-level discussions with a delegation of Qatari investors at the Presidential Villa in
In a pivotal moment for Nigeria’s economic future, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun has called on the Ministry’s Top Management Staff to leverage their expertise in driving economic acceleration and fiscal stability for the benefit of all Nigerians. This clarion call was made today at the
The Federal Government of Nigeria has officially announced the cancellation of its long-standing foreign scholarship scheme, citing economic constraints and the urgent need to redirect funding toward revitalizing the country’s domestic education sector. The announcement, made by the Federal Ministry of Education through the Federal Scholarship Board (FSB), confirms that the government will no longer
In a strategic move to enhance transparency, accountability, and ease of doing business in Nigeria’s solid minerals sector, the Corporate Affairs Commission (CAC) and the Nigeria Mining Cadastre Office (MCO) have entered into a collaborative partnership aimed at driving improved regulatory compliance among mining stakeholders across the country. The partnership was formalized during a high-level
A new report released by the Nigerian Economic Summit Group (NESG) in partnership with Stanbic IBTC Bank shows that Nigerian businesses are growing more confident about the future, even as they continue to face major hurdles such as poor electricity, high rent, and limited access to finance. According to the April 2025 edition of the
In a resounding endorsement of President Bola Ahmed Tinubu’s reform agenda, the Former Congress for Progressive Change (CPC) Stakeholders Forum has hailed the administration’s economic and institutional overhauls as transformative and effective. The forum, comprising influential figures from the defunct CPC, commended the President’s decisive actions aimed at revitalizing Nigeria’s economy and governance structures. Speaking
The House of Representatives has called for the rapid establishment of additional Compressed Natural Gas (CNG) centres across Nigeria, citing the urgent need to ease the rising cost of transportation and promote the use of cleaner, more affordable energy alternatives. This development comes as part of the legislative chamber’s broader support for the Federal Government’s
The United Nations Development Programme (UNDP) has raised an alarm over the staggering economic losses Nigeria suffers yearly as a result of poor electricity supply. According to the UN agency, the country loses over N2 billion every year due to its inadequate and unreliable power infrastructure, a situation that continues to cripple critical sectors of
