BUSINESS

Nigeria’s banking stock rises on the back of suspension of CBN Gov Emefiele

Daily Dispatch June 14, 2023

Nigeria’s banking stock index rose more than 8 percent on Tuesday as local investors reacted to the suspension late last week of central bank governor Godwin Emefiele, who oversaw restrictive policies that cramped their earnings. Tuesday was the first opportunity for investors to react to the

BUSINESS

Nigeria records N710bn VAT in Q1 2023 –NBS

Daily Dispatch June 14, 2023

The National Bureau of Statistics, NBS, has said the aggregate Value Added Tax, VAT, stood at N709.59 billion in Q1 2023. This is according to the VAT Q1 2023 Report released in Abuja on Tuesday. The report shows a growth rate of 1.75 per cent on a quarter-on-quarter basis from N697.38 billion in Q4 2022. […]

BUSINESS

FG spent N408.5bn on debt servicing in February – Report

Daily Dispatch June 11, 2023

The Federal Government spent 85.37 per cent of its revenue servicing debt in February. The Centra Bank of Nigeria, in its monthly economic report for February 2023, noted that the Federal Government had a retained revenue of N478.57bn in February. The bank also stated that the Federal Government spent N408.5bn on debt servicing in the same month. […]

BUSINESS

Subsidy removal: Dapo Abiodun leads oil marketers to meet Tinubu

Daily Dispatch June 7, 2023

President Bola Tinubu is meeting with major oil marketers at the Aso Rock Villa in Abuja. The oil marketers were led by Governor Dapo Abiodun of Ogun State. The President’s meeting with the oil marketers comes amid the controversy and protests trailing the removal of subsidy on Premium Motor Spirit known as petrol. The President […]

BUSINESS

Nigeria, Netherlands to establish bi-National Commission to boost trade, investment

Daily Dispatch June 6, 2023

Nigeria and the Kingdom of Netherlands are in talks over establishing a Joint Bi-National Commission to boost existing trade and investment ties between both countries. This latest action is coming on the heels of President Bola Tinubu open invitation to countries that may be interested in doing business with Nigeria. Permanent Secretary of the Ministry […]

BUSINESS

Polaris Bank restates commitment to environmental sustainability in Nigeria

Daily Dispatch June 5, 2023

Polaris Bank, Nigeria’s leading digital financial institution, has restated its commitment to environmental sustainability in the country. The Bank’s commitment is coming on the heels of the 2023 World Environment Day observed yearly on June 5. The annual event is led by the United Nations Environment Programme (UNEP) which is observed globally to encourage awareness and