The Nigerian economy has slipped into its second recession in five years after the gross domestic product contracted the second consecutive quarter. The National Bureau of Statistics on Saturday announced that the nation recorded a contraction of 3.62 per cent in the third quarter of 2020. The country had […]

The Federal Government has barred Emirates Airlines from operating in Nigeria. According to the Minister of Aviation, Hadi Sirika, the ban will take effect from Monday, September 21, 2020. The tweet read: “The PTF sub-committee met today with EU Ambassadors to discuss Lufthansa, Air France/KLM ban. The meeting progressed well.  […]

WTO members indicated that the five candidates who should advance are Ngozi Okonjo-Iweala of Nigeria, Yoo Myung-hee of the Republic of Korea, Amina C. Mohamed of Kenya, Mohammad Maziad Al-Tuwaijri of the Kingdom of Saudi Arabia and Liam Fox of the United Kingdom. “Throughout the six days of consultations it […]

The naira continued its downward trend, as it exchanged for the dollars at N460 in the parallel market on Tuesday, despite the resumption of forex sales to the Bureau de Change Operators. The naira had earlier dropped from N480/$ following the Central Bank of Nigeria’s announcement to resume forex sales […]

The amount spent as subsidy on petrol increased from N2.87bn in November 2018 to about N60.37bn in November 2019, representing an increase of 2,001 per cent. An analysis of the amount spent on petrol subsidy in November this year showed that every litre of the product consumed in Nigeria was […]

Oyo State government has assured the people of the State that the present government would not increase tax on small and medium scale enterprises (SMEs) in its drive to soar up its revenue base. The Chairman, Oyo State Board of Internal Revenue (BIR), Aremo John Adeleke stated this recently in […]