PZ Cussons Tops Gainers’ Log as NGX Index Rises 0.12%

By Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

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

By Modupe Gbadeyanka Strong inflationary pressures in November further negatively impacted companies in Nigeria, with new orders and output both falling as customers were either reluctant or unable to pay higher charges. Purchase prices rose at the fastest pace in almost two years amid exchange rate weakness and higher costs for fuel and materials. According to the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC, business conditions remained under pressure, scoring 48.0 points last month compared with the 49.1 points it garnered in October 2023. Readings above 50.0 signal an improvement in business conditions, while readings below 50.0 show deterioration.

By Modupe Gbadeyanka The sum of N3.780 billion was received by the Kwara State government as its share of federal allocation for the month of October. The amount was disbursed to the state government from the revenue generated by the country through crude oil sales, tax revenue and others. A statement issued on Friday by the Commissioner for Finance and Planning, Mrs Florence Olasumbo Oyeyemi, disclosed that the money was lower than the September 2020 allocation by N264.414 million or 6.54 per cent. She noted that the amount sent to the state government was without the full deductions of loans

By Adedapo Adesanya As the country starts its second phase of coronavirus vaccination, Nigeria is set to receive 3.92 million extra doses of the Oxford/AstraZeneca vaccine latest in early August. This was disclosed by the Executive Director of the National Primary Health Care Development Agency (NPHCDA), Dr Faisal Shuaib, at the briefing to update Nigerians on the status of COVID-19 vaccination. Although an exact date that the country will take delivery of the vaccine was not given, he confirmed that, “We now have information that Nigeria will get 3.92 million doses of Oxford/AstraZeneca by end of July or early August.”

By Modupe Gbadeyanka A leading Public Relations measurement agency in Nigeria, P+ Measurement Services, has promoted its key personnel to motivate them for better efficiency. The development was announced in a statement issued in Lagos on Wednesday by the foremost and fastest-growing independent PR company. It was disclosed that the Lead Analyst of the organisation, Mr Philip Odiakose, has been elevated to the post of Chief Insight Officer, while Mr Abidemi Animashaun is now the new Business Manager. As the new Chief Insight Officer, Mr Odiakose will be responsible for setting the short and long-term strategic direction of the client’s

By Modupe Gbadeyanka At least 970 widows, 11 of whom are in university, have been empowered by the Rose of Sharon Foundation set up by one of the richest women in the world, Mrs Folorunso Alakija, a decade ago. During the period it was established, the foundation has also awarded scholarships to 1,366 widow’s children and 72 orphans. Business Post reports that on May 23, 2008, the Rose of Sharon Foundation first opened its doors to widows and orphanages. The Rose of Sharon foundation was founded to guarantee the financial independence and educational opportunities for widows and orphans through schemes

By Modupe Gbadeyanka Plans are underway to recover unremitted one percent deductions for the Nigerian Content Development Fund from defaulters. Chairman of the Special Presidential Investigation Panel (SPIP), Mr Okoi Obono-Obla described non remittance to the NCDF as economic sabotage. According to Mr Obono-Obla, the recovery would be done in support with the Nigerian Content Development and Monitoring (NCDMB). The panel chief, during a courtesy visit to the Executive Secretary of NCDMB, Mr Simbi Wabote, at the board’s liaison office in Abuja last Monday, stated that, “We are aware that your board is mandated by law to get one percent

By Adedapo Adesanya The National Pension Commission (PenCom) has disclosed that it has commenced the payment of the 2.5 per cent differentials of 2004 and 2014 specified by the Pension Reform Act (PRA) to retirees. This was disclosed by Mr Saleem Abdulrahman, Head, Contribution and Bond Redemption Department, at the 2021 Journalist Workshop organised by the commission in Lagos with the theme Positioning the Pension Industry in the Post COVID Era on Monday, July 26. He said the beneficiaries were retirees between 2019 and 2020 of the Federal Government Treasury Funded Ministries, Departments and Agencies (MDA’s). The 2014 PRA as

By Modupe Gbadeyanka Minister of Agriculture and Rural Development, Mr Audu Ogbeh, has disclosed that the Federal Government was working hard to ensure farmers in the country get loan at a single interest rate. Mr Ogbeh made this disclosure on Saturday when he had a chat with social media influencers in Abuja. At the meeting, the Minister advised youths in the country to embrace agriculture as he announced that the present administration would soon launch the ‘Invent Your Future’ programme. During the interactive session with the team of social media influencers, the Minister said farming was more profitable than other

By Modupe Gbadeyanka On Friday, January 13, 2017, PwC announced an innovative agreement with GE to provide integrated, enterprise managed tax services to GE on a global basis. As part of this agreement, PwC will hire more than 600 of GE’s highly regarded tax team members from around the world and acquire GE’s tax technologies to further both PwC’s focus on the Tax Function of The Future and the provision of global enterprise tax solutions to the marketplace. PwC has the largest tax practice in the US and the world with a global network of 41,000 tax professionals operating in