-
1 week ago | 
nigeriaworld.com | Yinka Kolawole
At the backdrop of growing global financial market volatility, the African Development Bank (AfDB) has projected that the naira will depreciate by at least 6% between 2025 and 2026. The projection was revealed in the African Economic Outlook 2025 published by the bank, highlighting the impact of global uncertainty on the stability of African currencies over the next year.
-
1 week ago | 
allafrica.com | Yinka Kolawole
At the backdrop of growing global financial market volatility, the African Development Bank (AfDB) has projected that the naira will depreciate by at least 6% between 2025 and 2026. The projection was revealed in the African Economic Outlook 2025 published by the bank, highlighting the impact of global uncertainty on the stability of African currencies over the next year.
-
1 week ago | 
nigeriaworld.com | Yinka Kolawole
The Manufacturers Association of Nigeria (MAN) has expressed deep concerns regarding the unwholesome treatment of its members by some commercial banks regarding unmet foreign exchange (FX) forward obligations. FX forward obligations are binding contracts to exchange currencies at a predetermined rate on a future date, used to hedge against fluctuating exchange rates.
-
2 weeks ago | 
allafrica.com | Yinka Kolawole
At the backdrop of perceived daunting macroeconomic challenges, major operators in the manufacturing sector of the Nigerian economy may have started witnessing a major turnaround. Following a challenging 2023-2024 characterised by Naira depreciation and steep inflation some of the country's major fast moving consumer goods (FMCG) companies and other manufacturing concerns, seem set on a recovery path, showing either a return to profitability or a sharp narrowing of losses.
-
2 weeks ago | 
allafrica.com | Yinka Kolawole
·Vows to back reforms to simplify trade regulationsThe Speaker, House of Representatives, Tajudeen Abbas, has said that more than 75 percent of goods offloaded in the Benin Republic ports are bound for Nigeria, blaming inefficiencies and high costs at Nigerian ports. Abbas stated this when he received a delegation from the Presidential Enabling Business Environment Council (PEBEC), according to a statement by Musa Krishi, his spokesperson.
-
3 weeks ago | 
nigeriaworld.com | Babjide Komolafe |Peter Egwuatu |Yinka Kolawole |Nkiruka Nnorom
Nigeria’s foreign exchange earnings have come under fresh threat following plans by the United States’ Congress to impose a five per cent tax on all diaspora remittances.
The Bill, unveiled by the House Republicans on Monday, is aimed at curbing money transfers to foreign countries.
The tax would be paid by the sender and collected quarterly by the US Treasury Department.
Verified US citizens would be exempted from the levy and could claim it as a credit.
-
3 weeks ago | 
thisdaylive.com | Yinka Kolawole |Ima Ekanem |Ayo Yusuf
Yinka Kolawole in Osogbo In a bid to foster stronger ties between the academia and traditional institutions, the Provost, College of Education, Osun State University, Professor Florence Adeoti Yusuf has solicited the support of His Royal Majesty, Oba Akintola Imran Ayodeji, the Alua of Erin-Oke. Yusuf, who led her management team on a courtesy visit to the monarch, said that the visit was aimed at soliciting his support for the growth and development of the college.
-
1 month ago | 
allafrica.com | Yinka Kolawole
The Nigerian Investment Promotion Commission (NIPC) has said that a total of 105 companies were exempted from remitting corporate income tax (CIT) to the government in the fourth quarter of 2024 (Q4'24). NIPC disclosed in the Q4'24 report on the pioneer status incentive application. The pioneer status incentive is a tax holiday which grants qualifying industries and products relief from payment of CIT for an initial period of three years, extendable for one or two additional years.
-
1 month ago | 
nigeriaworld.com | Yinka Kolawole |Gabriel Ewepu
•
As CSOs demand urgent actions
• All the signs of poverty, economic failures are present — CISLAC
• How Nigeria can avoid the poverty crises — NACCIMA
• Govt should address key drivers of poverty — Muda Yusuf
The World Bank’s verdict on Nigeria’s poverty level has attracted widespread outcry, with some interest groups demanding urgent action to avoid a poverty-induced economic meltdown.
-
1 month ago | 
nigeriaworld.com | Yinka Kolawole
The Manufacturers Association of Nigeria (MAN) has reported a 9 percent surge in the local sourcing of raw materials in Nigeria’s manufacturing sector in 2024, buoyed by the lingering foreign exchange (FX) volatility, high import costs, and government incentives promoting local content.
This is even as investment in the manufacturing sector contracted by 35.3 percent in 2024.
