The federal government has dismissed reports that it plans to introduce new taxes on telecommunications services and petroleum products. It dismissed the claim in a statement on Tuesday by Maryann Duke, Senior Special Assistant on Communications and Press Affairs to the Minister of Finance and Coordinating Minister of the Economy, describing it as inaccurate and …
The Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, has called on the government to focus on tackling the structural factors driving inflation in Nigeria rather than relying solely on monetary policy measures. He made the call on Monday in a policy brief on the country's inflation …
The Alliance for Economic Research and Ethics has called on the federal government to reject the International Monetary Fund's (IMF) recommendation for new taxes on fuel, telecommunications services, and consumption. In a policy statement released on June 14 by its chairman, Dele Oye, the think tank group warned that such measures would worsen poverty, raise …
Nigeria’s headline inflation rate rose to 15.93 per cent in May, from 15.69 per cent in April, marking the first increase in two months. The National Bureau of Statistics (NBS) revealed the figure in its monthly Consumer Price Index (CPI) data released on Monday, June 15. The latest figure signals persistent price pressures across the …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that continued reliance on high interest rates to manage Nigeria's economy could undermine investment, job creation and economic growth, despite recent gains in macroeconomic stability. In a statement on Sunday, the chief executive officer of CPPE, Muda Yusuf, said while the International Monetary Fund's …
Nigeria and the United Kingdom have deepened their economic partnership by launching a £15 million growth programme. The programme is aimed at supporting Nigeria's economic reforms, unlocking investment and accelerating growth over the next three years. The initiative was announced during a high-level meeting on Thursday between the minister of finance and coordinating minister of …
When Nigeria returned to democratic rule in 1999, ushering in the Fourth Republic, the average citizen earned far less than today but could afford much more with those earnings. At the time, the gross domestic product (GDP) per capita was estimated at $450, the naira exchanged at around ₦92 to the dollar, petrol sold for …
Twenty-six years after Nigeria returned to democratic rule, the country’s manufacturing sector remains trapped in low growth, with its contribution to Gross Domestic Product (GDP) largely stagnating at between 9 and 10 per cent. The Centre for the Promotion of Private Enterprise (CPPE) raised the concern in a statement issued on Thursday by its Chief …
The Federal Government said it welcomed the International Monetary Fund’s (IMF) latest assessment of Nigeria’s economy. In a statement on Tuesday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the assessment validates the economic reforms introduced under President Bola Tinubu and confirms that Nigeria is on a stronger path to …
Nigeria's next growth phase will be driven by states and private capital rather than federal spending alone, Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele said as he outlined the government's strategy to attract investment, deepen fiscal reforms and unlock projects across the country. Speaking at the Invest Lagos 3.0 Governor's Investment …
