nairametrics news

  1. Nigeria World News

    World Coca-Cola hits $2.6 billion profit – Nairametrics

    Coca-Cola announced on Friday that its third-quarter profits increased by 38% as the company’s gain rose to $2.6 billion. Chief Executive Officer of the company, James Quincey, explained that it was the solid... Read more via Nairametrics – https://ift.tt/2P1TcTQ Get more World News
  2. Nigeria Business News

    Business China to pay $261.4 million for production of Made-in-Nigeria transformers – Nairametrics

    As the “Buy Made-in-Nigeria products” campaign is gradually gathering momentum due to the support of the Federal Government, some engineers and technicians are getting closer to manufacturing made-in-Nigeria transformers. This, the Nigerian government believes, will solve the electricity...
  3. Nigeria Business News

    Business Nigeria will enjoy foreign investments before December, IMF predicts – Nairametrics

    Despite the rising debt profile especially from China, the International Monetary Fund (IMF) has predicted better times for Nigeria, stressing that financial conditions in Nigeria favoured more foreign investments. This was disclosed by Evan Papageorgiou, Deputy Division Chief, Monetary and...
  4. Nigeria Business News

    Business IGI cuts 60 jobs, as MD seeks turnaround measures – Nairametrics

    60 employees engaged with Industrial and General Insurance (IGI) Plc have allegedly lost their jobs due to prolonged liquidity issues encountered by the company. Nairametrics gathered that sack letters were distributed to the affected workers through WhatsApp. .. Read more via Nairametrics...
  5. Nigeria Business News

    Business Buhari enjoined to appoint Emefiele, others in Economic Advisory Council – Nairametrics

    President Muhammadu Buhari has been urged to include the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, the Minister of Finance, Zainab Ahmed as well as some other ministers in the Economic Advisory Council (EAC). This was said by the Managing Director/Chief Executive Officer...
  6. Nigeria Business News

    Business Bureaux De Change operators warn against proposed VAT increment – Nairametrics

    The Association of Bureaux De Change Operators (ABCON) has warned the Federal Government against the proposed increment in Value Added Tax (VAT). While condemning the Federal Government’s move to expand the VAT net and increase it, the Bureaux De Change operators unanimously said it was a...
  7. Nigeria Business News

    Business CBN clears air on Diaspora Remittances, official inflows $2.6bn not $26bn – Nairametrics

    The Central Bank of Nigeria (CBN) has disclosed that the official inflows of the remittances of Nigerians living abroad to the country was $2.6 billion and not $26 billion as quoted in some quarters..... Read more via Nairametrics – https://ift.tt/2IO16w9 Get more: Nigeria Business News
  8. Nigeria Political News

    Politics Fashola makes case for VAT, drums support for 2020 budget – Nairametrics

    Giving an explanation on how the proposed Value Added Tax (VAT) will be shared, Minister of Works and Housing, Babatunde Fashola, noted that the bulk of the money would be enjoyed by the States and.... Read more via Nairametrics – https://ift.tt/2orTDvQ Get More Nigeria Political News
  9. Nigeria Political News

    Politics APC is “locked inside Buhari’s intellectual prison” – Feyi Faweyinmi – Nairametrics

    On Friday, October 11th, 2019, Nairametrics had an interesting tweet chat with Feyi Faweyinmi, a UK-based accountant and finance professional whose experiences cut across banking, insurance, and asset management..... Read more via Nairametrics – https://ift.tt/2MyeAgE Get More Nigeria...
  10. Nigeria Political News

    Politics 2020 Budget : Presidency to upgrade presidential fleet with N1.5 billion – Nairametrics

    The Presidency intends to upgrade some of the aircraft in the Presidential Air Fleet (PAF) next year with a proposed sum of N1.492 billion. This information was contained in the.... Read more via Nairametrics – https://ift.tt/2q8bDM7 Get More Nigeria Political News
  11. Nigeria Business News

    Business Adeleke confirmed as NCC Executive Commissioner by the senate – Nairametrics

    Barr. Adeleke Adewolu has had his nomination as an Executive Commissioner of the Nigerian Communications Commission (NCC) confirmed by the Senate yesterday. This occurred after the consideration and adoption of the report of the Senate Committee on Communications led by Senator Oluremi Tinubu...
  12. Nigeria Business News

    Business Finance Minister, Zainab Ahmed says Nigeria’s VAT collection rate is low – Nairametrics

    As the Nigerian Government is trying to raise revenue through the increase of Value Added Tax (VAT), the Minister of Finance, Budget and National Planning, Zainab Ahmed has lamented Nigeria’s poor collection rate of VAT, saying it is 0.2%, lower than the African average of 0.33%..... Read...
  13. Nigeria Business News

    Business Power sector records N2.2 billion loss, here is why – Nairametrics

    The Nigerian power sector as at Friday, October 5, 2019, recorded an estimated N2.2 billion loss. As disclosed in a daily energy report by the Advisory Power Team office of Vice President Yemi Osinbajo, the loss recorded was..... Read more via Nairametrics – https://ift.tt/2ANOjVX Get more...
  14. Nigeria Business News

    Business Dangote Tomatoes CEO seeks total ban on tomato import – Nairametrics

    Nigeria’s biggest tomato plant owned by the billionaire, Aliko Dangote has called on the Federal Government to ban the importation of tomatoes. The Managing-Director of Dangote Tomatoes Processing Plant, Abdulkarim Lawal Kaita, told reporters that, for the Federal Government to sustain the...
  15. Nigeria Business News

    Business Nigeria to partner Britain on job creation – Nairametrics

    The Federal Government has disclosed plans to partner with the British Government in order to create job opportunities and tackle the issue of unemployment in the country. This was announced by the Minister of State for Labour and Employment, Mr. Festus Keyamo, when the Political Counsellor...
  16. Nigeria Business News

    Business Senate rejects VAT increase, proposes 9% tax on SMS, Data usage, others – Nairametrics

    The Nigerian Senate has fully rejected the proposed 7.5% Value Added Tax (VAT) currently planned by the Federal Government to take effect by January 2020. The disclosure of the rejection was made available by the Chairman of the Senate Committee on Army, Senator Ali Ndume, while speaking …...
  17. Nigeria Business News

    Business Buhari to release N600 billion for capital expenditure in 3 months – Nairametrics

    President Muhammadu Buhari has disclosed that his administration would release the sum of N600 billion for Capital Expenditure between October and December 2019. The President, who revealed this during his 59th Independence Day speech earlier on Tuesday at the State House, Abuja, explained...
  18. Nigeria Business News

    Business CBN increases LDR to 65%, sets December deadline – Nairametrics

    The Central Bank of Nigeria (CBN) has issued a fresh circular mandating commercial banks operating in the country to lend out up to 65% of their customer deposits. In a new circular addressed to all banks obtained by Nairametrics, the CBN disclosed that the minimum Loan to Deposit Ratio (LDR)...
  19. Nigeria Business News

    Business Firstbank targets 500,000 agents to boost financial inclusion – Nairametrics

    With a view to enhance financial inclusion across the country, First Bank of Nigeria Limited has announced its drive to get up to 500,000 operators on board its agent banking platform. This was disclosed at the opening ceremony of the 12th Annual Conference of the Chartered Institute of...
  20. Nigeria World News

    World Saudi Aramco Ramps up IPO Preparations Despite Weakened Demand Outlook – Nairametrics

    67 years until Nigeria exhausts proven gas reserves As at the end of 2018, Nigeria’s total proven gas reserves were 202Trillion Cubic Feet (TCF), 37.26% of the total African deposits. With these reserves, Nigeria is second to none in Africa, and 9th in the world. The potential is even …...