Again, FIRS Extends Tax Debt Payments to August 31

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

By Adedapo Adesanya Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85 per cent ownership in oil and gas lease OML 128, including the unitized 20.21 per cent stake in the Agbami oil field, operated by Chevron. Speaking on the deal, Equinor’s senior vice president for Africa Operations, Ms Nina Koch, said Nigeria has been an important part of Equinor’s international portfolio over the past 30 years, noting that, “This transaction realizes value and is in line with Equinor’s strategy to optimize its international oil and gas

By Aduragbemi Omiyale President Bola Tinubu has said the 2024 budget presented to the joint session of the National Assembly on Wednesday was designed to achieve macroeconomic stability, a better investment environment, greater access to social security, poverty reduction and enhanced human capital development. According to him, if these goals are achieved, the standard of living of Nigerians will improve and the citizens will enjoy the dividends of democracy. While presenting the 2024 Appropriation Bills to the parliament yesterday, the President said this was why he christened the budget proposal as the Budget of Renewed Hope. Mr Tinubu told the

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Bon Peters The Area 1 Command of the Nigeria Customs Service (NCS) in Port Harcourt, Rivers State, has commenced a sensitisation programme for stakeholders to educate them on issues of non-conformities with statutory procedures and other vices in customs clearance processes. The event, which began last week in Port Harcourt, comes in phases to avail the maritime operators, especially the Association of Nigeria Licensed Customs Agents (ANLCA), NAGAFF, Bonded Terminals operations, shipping agents, among others, the opportunity to learn the customs procedure codes which would, in turn, ensure seamless clearance of containers at the ports. In his opening remarks,

By Dipo Olowookere The stock market in Nigeria further closed marginally by 0.07 per cent on Thursday as investors continue to trade cautiously, with a focus now on the release of first-quarter earnings of listed firms. Some of the big organisations have started to announce dates for their board meetings for the approval of the Q1 2021 earnings and before the end of the month, investors will have a knowledge of how the companies performed in the first three months of the year. But before then, investors are comfortable watching the equity market from the sidelines and just cherry-pick shares

By Adedapo Adesanya, Ahmed Rahma The Naira could not extend its recent rally against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange market on Wednesday. Yesterday, the local currency depreciated by 82 kobo or 0.21 per cent to trade at N394.17/$1 in contrast to the N393.35/$1 it was sold the previous day. This poor outcome was triggered by an increase in the demand for forex at the market segment on Wednesday as traders exchanged $89.50 million, 47.2 per cent or $62.67 million higher than the preceding session’s $26.83 million. However, stability was maintained at

By Dipo Olowookere After getting battered by the implementation of new know your customer requirements by the Nigerian authorities, Airtel Africa is beginning to see an improvement in its customer base. In its unaudited financial statements for nine months ended December 31, 2021, the leading telco said it recorded 1.9 million net additions in the third quarter, taking total group customer additions to 3.1 million. This supported that 21.7 per cent revenue growth to $3.492 million from $2.850 million achieved in the same period of 2020. A closer look into the revenue line showed that voice accounted for $1.747 million

By Adedapo Adesanya Crude oil continued its stellar performance on Friday as the US Dollar dropped to an almost nine-month low and more indicators pointed toward growing demand from top oil importer, China. This raised the Brent crude futures by $1.25 or 1.5 per cent to settle at $85.28 a barrel, while the US West Texas Intermediate (WTI) crude futures rose for the seventh-straight session by $1.47 or 1.9 per cent to $79.86 a barrel. This made them notch their biggest weekly gains since October. Brent gained 8.6 per cent this week, while WTI rose by 8.4 per cent, recouping

By Adedapo Adesanya Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to provide a copy of the agreement the federal government had with the social media company, Twitter. On Wednesday, January 12, the FG announced that it has reached an arrangement with the micro-blogging site to lift the ban it placed on its use in Nigeria on June 4, 2021. Now, the organisation is calling on the President to use his good offices and leadership position to direct the Minister of Information and Culture, Mr Lai Mohammed, to provide it with a copy of the agreement recently

By Modupe Gbadeyanka Stakeholders in the capital market will on Saturday, December 7, 2019, gather in Lagos for the 2019 annual conference of the Capital Market Correspondents Association of Nigeria (CAMCAN). A statement from the group said during the interactive session scheduled to take place at the Dover Hotel, Ikeja, participants will discuss Bridging Nigeria’s Infrastructure Gap: The Capital Market Option, which is the theme. It is an open secret that the present administration of President Muhammadu Buhari has been making efforts to the infrastructure challenges in the country, which has further widened the infrastructure deficit. However, this weekend, investment

By Dipo Olowookere Nigeria and Algeria are to resuscitate the Bi-National Commission and the several economic agreements between the two countries. Vice President, Mr Yemi Osinbajo, made this known after the meeting the Algerian President, Mr Abdelaziz Bouteflika. “We discussed a very wide, variety of issues. As you know, Nigeria and Algeria have had very strong relations over the years and we are also partners in the Bi-National Commission. We are resuscitating that Commission…I am sure some of you are aware of the Trans-Saharan Gas Pipeline, as well as the Trans-Saharan Fibre Optic projects. These are some of the economic