Olusegun Oruame

Nov 26, 2024 | economicconfidential.com | Olusegun Oruame |Rahma Oladosu

President Bola Ahmed Tinubu has applauded the Nigeria National Petroleum Company Limited (NNPCL) for the successful revival of the Port Harcourt refinery. The President described the achievement as a testament to the administration’s resolve to rebuild Nigeria’s energy infrastructure and address longstanding challenges in the oil and gas sector. POLITICS DIGEST had earlier reported that NNPC commences crude oil processing from the plant and delivery of petroleum products into the market.

Nov 26, 2024 | economicconfidential.com | Olusegun Oruame |Rahma Oladosu

The Securities and Exchange Commission (SEC) on Monday revealed that banks and other companies raised a total sum of N2.7trn from the capital market in the first 11 months of 2024. It said the substantial sum was generated through various investments, securities, and financial instruments in an effort to expand business operations, support economic growth, and enhance financial market activities.

Nov 26, 2024 | economicconfidential.com | Olusegun Oruame |Rahma Oladosu

President Bola Tinubu on Monday said Nigeria is on track to becoming a $1trn economy by 2030. Tinubu premised this assertion on the recent statistics that showed a 3.46 per cent GDP growth for the third quarter of 2024 (July, August, and September). The third-quarter report by the National Bureau of Statistics showed that Nigeria’s Gross Domestic Product grew by 3.46 per cent, compared to the 3.19 per cent growth recorded in the second quarter.

Nov 26, 2024 | economicconfidential.com | Olusegun Oruame

We Don’t Need New Taxes, We Need New Tax Payers – FIRS BossThe Federal Inland Revenue Service (FIRS) Chairman, Dr Zacch Adedeji, has reassured Nigerians that the proposed tax reform laws are not aimed at creating new taxes but increasing the number of eligible taxpayers. He made this statement on Tuesday during the Second Edition of the Annual National Dialogue, organised by Nigeria Politics Online (NPO).

Nov 26, 2024 | economicconfidential.com | Olusegun Oruame

CBN Raises Interest Rate to 27.50% to Combat InflationThe Central Bank of Nigeria (CBN) has increased the interest rate by 25 basis points to 27.50% to tackle the rising inflation rate, which stood at 33.87% in October 2024. This decision was made during the 298th Monetary Policy Committee (MPC) meeting held in Abuja. The CBN Governor, Olayemi Cardoso, said the committee unanimously agreed to raise the monetary policy rate to combat inflation.