News & Insights

The Minister of State, Federal Ministry of Industry, Trade and Investment, Mrs. Maryam Yalwaji Katagum, has said the Federal Executive Council (FEC) has finally approved the revised National Policy on Micro, Small and Medium Enterprises (MSMES) which provides the framework to resolve the challenges faced by the sub-sector. The minister […]

• ‘Remove bottlenecks to achieve accelerated growth’ • $200b five-year spending required to step up response to COVID-19 A day after the National Bureau of Statistics (NBS) released report that said states and federal debts had hit N32.92 trillion as at December 2020, the International Monetary Fund (IMF), yesterday, made […]

The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI) Dr. Ogbonnaya Orji, has described as dangerous, the non-disclosure of actual ownership of some companies in the country. A statement by the Head of Communications and Advocacy at the organisation, Obiageli Onuorah, stated that Orji spoke while addressing a […]

THE Nigeria LNG train 7 will attract $10 billion into Nigeria’s economy, according to the Nigeria LNG Limited. In his Goodwill message, presented at the Nigeria International Petroleum Summit (N.I.P.S) Pre-Summit Conference, titled: The Decade of Gas, in furtherance of the Federal Government initiative that declared January 1, 2021, to […]

The Federal Government has started the development of Mineral Resources in all 6 geopolitical regions. This was disclosed by Dr Uchechukwu Ogah, Minister of State, Mines and Steel Development, on Monday at the 32nd Enugu International Trade Fair. The Minister revealed that the federal government has started the development of […]

The federal government has said efforts were being intensified to establish a trade remedy authority that will be responsible for the enforcement of rules of origin and tightening of borders against fraudulent invoicing. It stated that this was part of government’s efforts to ensure a successful implementation of the African […]

The Nigerian National Petroleum Corporation (NNPC) has so far paid a total of $3.118 billion cash-call debts owed the five major international oil companies (IOCs), leaving an outstanding debt of $1.570, according to statistics released by the corporation. The statistics showed that NNPC funded its Joint Venture (JV) oil and […]

To evolve a vibrant commodities trading ecosystem to boost foreign exchange earnings, the Securities and Exchange Commission has released new rules covering warehousing and collateral management and other matters. According to the rule, every warehouse that stores commodities to be traded on a registered Exchange shall apply to be registered […]

The Federal Inland Revenue Service (FIRS) says any company that wishes to pay income taxes in instalments must apply in writing before the due date of filing. According to a statement signed by Muhammad Nami, the FIRS executive chairman, the application must be accompanied by evidence of full payment of […]

Egypt’s Suez Canal has been blocked by a massive container vessel, which ran aground the key waterway, and could cause some delays in global shipments of commodities. The Panama-flagged container vessel Ever Given got stuck in the southern end of the canal while making a turn on Tuesday (5:40 GMT), […]