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By Modupe Gbadeyanka The chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has asked his counterpart in the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, to support his agency to achieve the Renewed Hope Agenda of President Bola Tinubu, who appointed both of them. Speaking during a courtesy visit to the headquarters of the anti-money laundering firm, Mr Adedeji said the EFCC has a role in ensuring that taxpayers’ funds are “judiciously utilised in line with the social contract with the people.” He assured that the FIRS would continue to strive to raise the revenue

In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is my first annual budgetary presentation to the National Assembly. Distinguished Senators and Honourable Members of the National Assembly, I commend your swift consideration and passage of the 2023 Supplementary Appropriation Bills and the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper. Your prompt action underscores your devotion

By Adedapo Adesanya  Angola, one of Africa’s top crude oil producers and a key member of the Organisation of the Petroleum Exporting Countries (OPEC), has officially rejected the proposed production quota for the year 2024 and may even exit the group. This was signalled by Mr Diamantino Pedro Azevedo, Angola’s Minister of Energy and Mineral Resources, confirming the nation’s decision and indicating a divergence from OPEC’s suggested allocations for both member and non-member countries. The announcement was made during the 26th OPEC+ Meeting on Thursday, where the organisation proposed 1.11 million barrels of crude oil per day production quota for

By Adedapo Adesanya The Naira put up a weak performance against the United States Dollar across the various segments of the foreign exchange (FX) market on Thursday. November 30, 2023, the last trading session of the month. In the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, which is the official market, the Nigerian currency lost 0.1 per cent or 85 Kobo against the greenback during the session to settle at N832.32/$1 compared with the preceding day’s value of N831.47/$1. A slight strain in the supply of forex into the spot market was partly responsible for the weakening of the local

By Dipo Olowookere The proposed raising of fresh capital worth N1.33 billion by Red Star Express Plc has received regulatory approval, Business Post can authoritatively report. Last month, Business Post reported that the leading logistics solution provider with offices in over 160 locations in Nigeria was planning to raise the above amount from its shareholders through rights issue at a date to be fixed by the board, subject to approval of the Nigerian Stock Exchange (NSE). Over the weekend, Business Post confirmed that the approval from the NSE has been secured by the company and the exercise will commence at

By Modupe Gbadeyanka Federal Government has called on states and Local Governments authorities to invest in the healthcare delivery system in the country. Minister of Health, Prof Isaac Adewole, made the call while declaring open the 2nd Annual Primary Healthcare Service Lecture recently in Abuja. The 2nd Primary Healthcare Annual Lecture was organized by the National Primary Healthcare Development Agency (NPHCDA) for stakeholders in the health sector to discuss sustainable financing of Primary Healthcare Centres. The Minister who was represented by Director Public Health in the Ministry, Dr Evelyn Ngige, expressed happiness that the lecture was one of the strategies

By Adedapo Adesanya  Major oil prices dropped into the second consecutive day on Tuesday after losing most of its gain as weak Chinese industrial data slowed progress in the US-China trade deal. On Tuesday, expectations for a rise in the United States crude inventories and wane in optimism over a US -China trade deal saw oil prices drop further. During the trading session, price of the Brent crude oil went down by 12 cents or 0.2 percent to trade at $61.13 per barrel, while price of the West Texas Intermediate (WTI) crude lost 38 cents or 0.68 percent to sell at

By Dipo Olowookere It is not a good time for Nigerian stocks at the moment as investor sentiment remains negative as the market awaits a positive trigger to propel another round of buying interest. On Thursday, the Nigerian Exchange (NGX) Limited slightly went down by 0.01 per cent to extend its stay at the negative territory for the fourth straight session. It means the stock market has not recorded a single growth this trading week, though it closed flat on Tuesday with a red. The decline reported yesterday was majorly influenced by selloffs in some value stocks and investors did

By Adedapo Adesanya Nigeria’s President, Mr Muhammadu Buhari, has reiterated the determination of his administration to make business environment very conducive for the private sector. He also said efforts would be made to stop importation of basic items and create job opportunities for unemployed citizens across the country. The President stated this when he received members of the Nigeria Employers’ Consultative Association (NECA) led by its acting President, Mr Taiwo Adeniyi, at the Presidential Villa, Abuja on Wednesday, July 17. “Nigeria is a blessed country with abundant resources. We have all it takes locally to meet our most basic needs,”

By Nneka Okumazie Without Christianity, psychology is dead. Someone can argue that knowledge from psychology differs a lot from Christianity, yes, but that’s not the point. The psychological needs of the world are such that the subject of psychology or related fields cannot cater to the majority. The teachings of wisdom, the requirements of obedience in secret or in the open and the hope for eternal life contribute to how lots of people keep the mind together. Psychology has studies, labels, theories, etc. The subject is applied widely, preferred to explain mind and behaviour situations. But there are unknowns beyond

The wheat value chain continues to play key roles in providing employments for the active segment of the population while strengthening the nation’s food security position. The jobs and the affordable meals that are being delivered to the local markets through the bold developmental actions pursued by the local wheat millers couldn’t have come at a better time as Nigeria’s unemployment situation and inflationary trends grow agonizingly worse. Data released by the National Bureau of Statistics (NBS) indicates that unemployment, underemployment and youth unemployment/ underemployment, reached 33.3 %, 22.8 %, 42.5% respectively in the 4th quarter of 2020 in the

Zedcrest Research The bond market witnessed a spur of activity in Tuesday’s session, as a flurry of headline political news dominated trading sentiments over the course of the session. We witnessed continued selloff by offshore clients mostly on the 2027s and 2028s as tensions in the political space further strengthened their recent bearish position on the market. We also noted a shift in the date of the scheduled bond auction for the month of August to 15-Aug from the earlier scheduled date of 22-Aug. This is also believed to have influenced some selloff, especially on the 2028s, as market players