Experts canvass funding for regulatory agencies to reduce dependence on levies
Experts have stressed the need for regulatory agencies to be better funded by government, to reduce their dependence on fees, fines and levies from businesses...
Halting slide into higher unemployment, poverty levels
When Vice President Prof. Yemi Osinbajo announced that about 39.4 million Nigerians, or 33.6 per cent of Nigeria’s population may be left without jobs by the end of 2020, if the country failed to take proactive measures, many experts and employers acknowledged that the reality had just dawned on the leaders and limits of propaganda reached.
Economic necessity, dilemma of fuel subsidy removal
With the recession in 2016, former Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kwachikwu, announced in January that the prices of petroleum products in Nigeria will be “modulated” to ensure efficiency and availability of products.
Stakeholders split over OPEC reduction of oil output
Mixed reactions yesterday trailed the reduction of daily oil production to 10 million barrels by the Organisation of Petroleum Exporting Countries (OPEC) and the extent to which the action could impact the nation’s economy.
Coronavirus and echoes of 2016: Choking under burden of oil dependence
In August 2016, the Nigerian economy, after two consecutive quarters of declining growth, was declared to have slipped into a recession. The price of oil had fallen from highs of about $112 a barrel in 2014 to below $50 at that time.
‘Technology deployment will boost tax compliance’
Experts in Nigeria’s financial sector have called on the Federal Government and tax professionals to deploy more technology to the taxation subsector, saying it would improve the ease of paying, collection and administration of taxes in the country.
LCCI warns investments, economic activities may slow down due to traffic law
The Lagos Chamber of Commerce and Industry (LCCI) has warned that continued implementation of the traffic law in its present form by the Lagos State government will not only slow down momentum of economic activities...
‘How government can stem inflationary trend, encourage real sector borrowing’
With consumer prices expected to remain high in the course of the year, as a result of impacts from increased value added tax (VAT), as well as high food prices, the Lagos Chamber of Commerce and Industry...