BUSINESS

UBA revitalises Alumni Network, extends benefits for ex-Staff

Daily Dispatch May 31, 2023

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has relaunched the UBA Alumni Network Program, aimed at fostering stronger connections and providing exclusive benefits to its esteemed former employees. Improving upon the services it promised when it was first launched two years ago, the

BUSINESS

FIRS: Nigeria’s tax-to-GDP ratio, 10.86% as at 2021

Daily Dispatch May 31, 2023

Nigeria’s Tax-to-GDP ratio which, in the last 12 years, hovered between 5% to 6% rose to 10.86% by the end of 2021. The new ratio was communicated to the Federal Inland Revenue Service (FIRS), via a letter signed by the Statistician-General of the Federation, Prince Adeyemi Adeniran, on the 25th of May 2023, following a joint […]

BUSINESS

Breaking: FG increases fuel price, sells at N537/litre

Daily Dispatch May 31, 2023

Nigeria has finally removed subsidy on premium motor spirit (PMS) popularly known as Petrol as the Nigeria National Petroleum Company (NNPC) Limited Wednesday morning officially changed its pump price to N537 per litre in Abuja. LEADERSHIP checks also showed a similar trend in Lagos State where NNPCL now retails fuel at N488 per litre at […]

BUSINESS

Mr. President Withhold Assent To The Amendment Of The Central Bank of Nigeria Act

Daily Dispatch May 30, 2023

Centre for Social Justices (CSJ) notes with regret the recent amendment to the Central Bank of Nigeria Act, increasing advances the CBN can grant to the Federal Government of Nigeria from 5 percent to 15 percent. The amendment contradicts best practices in fiscal responsibility and is an authorization of the Executive to create macroeconomic distortions […]

BUSINESS

Subsidy: FG owes NNPCL N2.8tn, says Kyari

Daily Dispatch May 30, 2023

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, on Tuesday, in Abuja said the Federal Government still owes the company N2.8tn that it had spent on petrol subsidy. “Today, we are waiting for them to settle up to N2.8tn of NNPC’s cash flow from the subsidy regime and we […]

BUSINESS

NNPCL reacts to the removal of fuel subsidy by President Tinubu

Daily Dispatch May 30, 2023

The Nigerian National Petroleum Company Limited, NNPC Ltd, has said that the decision to remove subsidy on Premium Motor Spirit, PMS, known as fuel by President Bola Tinubu is a welcome development. Malam Mele Kyari, Group Chief Executive Officer, GCEO, NNPC Ltd. made the remark at the NNPC Ltd. Towers in Abuja while briefing newsmen […]