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WE STAND BY OUR ADVICE ON NIGERIA REMOVING FUEL SUBSIDY, FLOAT NAIRA – IMF The International Monetary Fund (IMF) says it stands by its advice to Nigeria to remove petrol subsidy and float the exchange rate. The Bretton Woods institutions have been accused of advising President Bola Tinubu on the present economic policies, especially the removal of subsidy from PMS …

RIVERS GOVT APPEALS COURT ORDER STOPPING FEDERAL ALLOCATION TO THE STATE The Rivers State Government has filed an appeal against a recent Federal High Court ruling in Abuja that barred the Central Bank of Nigeria (CBN) from distributing federal allocations to the state. Recall that on Wednesday, Justice Joyce Abdulmalik of the Abuja Federal High Court declared that Governor Siminalayi …

TOUGH TIMES AHEAD AS NEW REPORT INDICATES THAT NIGERIA’S ECONOMY WILL UNDER PERFORM NEXT YEAR A recent report by BMI, a Fitch Solutions company, forecasts Nigeria’s economic growth will reach 3.5% in 2025. However, weak Foreign Direct Investment (FDI) and low oil output are expected to continue hindering performance. According to the report, there will be a substantial decline in …

YOU DON’T OVERTAX PEOPLE AND EXPECT IT’S THE WAY TO DRIVE GROWTH – NASARAWA GOVERNOR ABDULLAHI SULE Governor Abdullahi Sule of Nasarawa State has dismissed claims that Northern Nigeria opposes President Bola Tinubu’s administration due to the region’s stance on the proposed Tax Reform Bill. This comes after the Northern Governors’ Forum, during a meeting with traditional rulers and stakeholders, …

FORMER BRITISH COLONIES OWE DEBT OF GRATITUDE, SAYS UK PARLIAMENTARIAN Britain’s former colonies should be thankful for the legacy of empire, not demanding reparations, according to the Conservative leadership candidate Robert Jenrick. In comments that were described by a Labour MP as “deeply offensive”, the former minister said countries that were part of the empire “owe us a debt of …

NIGERIAN WORKERS POORER THAN BEFORE – OSHIOMHOLE Comrade Adams Oshiomhole, former President of Nigeria Labour Congress (NLC), says current Nigerian workers are poorer than those who worked for country in the past. Oshiomhole, a former governor of Edo State, also decried the present N70,000 minimum wage, arguing that the celebrated wage when converted to dollars, is equivalent to $42. The …

NORTH HAS MORE POOR PEOPLE, DESERVES LARGER ALLOCATION – MINISTERIAL NOMINEE Nentawe Yilwatda, ministerial nominee for the Ministry of Humanitarian Affairs and Poverty Alleviation, has disclosed that about 65 percent of poor people in Nigeria live in the North. Yilwatda, hence, said the region deserves more allocation based on needs assessment. He stated this on Wednesday while speaking at the …

SIX KEY PROVISIONS IN TINUBU’S PROPOSED TAX BILL In early October 2024, President Bola Tinubu transmitted the Nigeria Tax Bill 2024 to the National Assembly. The bill is expected to reshape Nigeria’s fiscal framework and establish a comprehensive legal framework governing taxation of incomes, transactions, and instruments. The bill is entitled, “An Act to Repeal Certain Acts on Taxation and …

PRO-WIKE RIVERS LAWMAKERS WITHDRAW COURT AFFIDAVIT CONFIRMING DEFECTION FROM PDP TO APC Hon Martin Chike Amaewhule-led pro-Wike lawmakers in Rivers State have withdrawn part of an affidavit they sworn to at the Federal High Court in Abuja, confirming their defection from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC). The lawmakers’ defection followed a rift between Nyesom …

SENATE CONFIRMS BIANCA, OTHERS AS MINISTERS The Senate on Wednesday confirmed the seven new ministerial nominees forwarded to it by President Bola Ahmed Tinubu. The new ministers confirmed during plenary are Dr Nentawe Yilwatda, (Humanitarian Affairs and Poverty Reduction), Muhammadu Maigari Dingyadi (Labour and Employment), Bianca Odinaka Odumegu – Ojukwu (Foreign Affairs – State). Others are Dr Jumoke Oduwole (Industry, …