New tax reforms aim to encourage wage increases and ease transportation costs for low-income workers in Nigeria The Nigerian Federal Government has introduced a new initiative aimed at providing a 50% tax relief for firms increasing wages, helping employers improve salaries or offer transportation allowances to low-income employees. This initiative forms part of a broader…
Amid rising dollar liquidity and controlled FX demand, the naira gains value ahead of the Central Bank’s FX automation trial In a sign of increased dollar liquidity and moderated demand, the naira has shown a notable recovery ahead of the CBN FX automation trial. Closing at N1,600 per US dollar in the official market, the…
Nigerians urged to report distribution companies that demand consumers purchase transformers, poles, and cables In a recent reminder to Nigerians, the Nigerian Electricity Regulatory Commission (NERC) emphasized that DisCos must supply transformers and cables—a duty the Commission expects all electricity distribution companies to fulfill. NERC’s announcement aims to ensure that consumers are not burdened with…
Customers of Guaranty Trust Bank (GTBank) have faced significant frustration and confusion over the past ten days due to a recent technological upgrade implemented by the bank. On Friday, October 11, 2024, GTBank announced the transition to an advanced Finacle Core Banking Application System, with the upgrade scheduled to conclude by Monday, October 14. However,…
GoTV subscribers, especially football fans, express frustration over missing channels and demand refunds following an unexpected service disruption GoTV subscribers demand compensation for service outage and missing channels, especially those who rely on the prepaid satellite service for sports and entertainment. On Tuesday night, several football enthusiasts across Nigeria experienced the frustration of having key…
The International Monetary Fund (IMF) has downgraded Nigeria’s economic growth projection for 2024 to 2.9%, citing insecurity and climate-related challenges affecting key sectors The International Monetary Fund (IMF) has lowered Nigeria’s economic growth forecast for 2024 to 2.9%, reflecting a decline from earlier estimates. This adjustment comes as the IMF projects the global economic growth…
President Tinubu promotes CNG as an affordable alternative to petrol during recent energy initiative discussions In a recent address, President Bola Tinubu urged Nigerians to consider the new petrol and CNG pricing in Nigeria: petrol at N1,000 per litre and CNG at N200. During a meeting at the State House, he highlighted the government’s commitment…
Dangote Refinery challenges the issuance of petroleum import licenses to NNPCL and other entities, seeking annulment in court Dangote Refinery has initiated legal proceedings, seeking the annulment of petroleum import licenses issued to the Nigerian National Petroleum Company Limited (NNPCL) and other companies involved in the oil and gas sector. The refinery, owned by Africa’s…
Air Peace faced Heathrow Airport slot denial due to late submissions, prompting the UK to outline alternative options In response to the Nigerian government’s inquiry, the United Kingdom recently explained why Air Peace faced Heathrow slot denial for both the Summer 2024 and Winter 2024/2025 seasons. According to UK authorities, including Secretary of State for…
The Transmission Company of Nigeria confirms the continuous supply of 24-hour electricity to neighboring countries despite local challenges Nigeria consistently supplies 24-hour electricity to neighboring countries, including Niger, Togo, and Benin, according to the Transmission Company of Nigeria (TCN). Despite ongoing challenges within Nigeria’s power sector, TCN Chief Executive Officer, Sule Abdulaziz, revealed that these…
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