Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has confirmed plans by the Federal Government to raise Value Added Tax, VAT, to 15 percent. However, the minister explained that only luxury goods consumed by the rich would be affected. Edun made the disclosure[Read More…]
Two Federal Government of Nigeria (FGN) bonds have been offered for subscription in October at N1,000 per unit. A Debt Management Office (DMO) statement said the first offer is a two-year FGN savings bond due on Oct. 16, 2026, at an interest rate of 17.084 per cent per[Read More…]
Eid-ul-Mawlid: FG declares Monday as Public Holiday The Federal Government has declared Monday, September 16, 2024, as a public holiday to mark the celebration of the Eid-ul-Mawlid. Eid-ul-Mawlid is the commemoration of the birth of the Holy Prophet Muhammad (PBUH). The Minister of Interior, Dr. Olubunmi Tunji-Ojo,[Read More…]
FG increases fees for Nigerian Passport The federal government has announced an increase in the cost of obtaining the Nigerian Passport effective from September 1, 2024. The Nigeria Immigration Service‘s spokesman, Kenneth Udo, revealed this in a statement posted on the NIS’s X handle on Wednesday. According to the statement,[Read More…]
FG commences Crude oil sales in naira to Dangote, others October 1 The Federal Government has announced that sales of crude oil to Dangote Refinery and other local refineries will commence October 1, 2024, The Punch reports. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun,[Read More…]
Nigeria seeks $500m World Bank loan for dam safety, others The Federal Government has requested a $500m loan from the World Bank to improve dam safety and enhance water resource management across the federation. The request was disclosed in World Bank’s Project Information Document on Monday. According to the document,[Read More…]
FG warns IOCs against disregarding gas flare directives The Federal Government, on Wednesday, warned International Oil Companies operating in Nigeria to desist from disregarding gas flare directives of various regulatory agencies in Nigeria. It stated that though a few IOCs often complied with these directives, most of the[Read More…]
FG seeks World Bank’s Support for $50m solar power project The Federal Government has requested $50 million in funding from the World Bank to support state governments in the installation of solar plants and infrastructure upgrades. The Minister of Finance and the Coordinating Minister of the Economy, Wale Edun,[Read More…]
FG announces UAE visa availability for citizens Minister of information and national orientation, Mohammed Idris has said Nigerians can now apply for and obtain visas to the United Arab Emirates (UAE). Idris said the federal government has reached an agreement with the UAE to allow Nigerian passport holders to[Read More…]
BREAKING: FG announces suspension of taxes on importation of food commodities The federal government has announced that certain essential food commodities imported via land and sea borders will no longer incur charges, levies, or taxes. This declaration was made by the Minister of Agriculture and Food Security, Abubakar Kyari,[Read More…]
