The Permanent Representative of Nigeria to the United Nations (UN), Amb. Tijjani Muhammad-Bande, says Nigeria will continue to champion global tax cooperation discourse at the ongoing 78th session of UN General Assembly (UNGA). The Nigerian delegation had, during the 77th session of UNGA, presented a historic resolution entitled “Promotion of Inclusive and effective International Tax…
President Bola Ahmed Tinubu and President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, on Monday in Abu Dhabi, have finalized a historic agreement, which has resulted in the immediate cessation of the visa ban placed on Nigerian travelers. Furthermore, by this historic agreement, both Etihad Airlines and Emirates Airlines are to immediately…
I crude strengthened above $85 per barrel on Monday, hovering at the highest levels in over nine months, underpinned by expectations that OPEC+ leaders would extend measures to keep oil supplies tight. Russian Deputy Prime Minister Alexander Novak said on Thursday that Russia agreed with its OPEC partners on the parameters for continued export cuts….
Federal Inland Revenue Service, FIRS, has issued a five-month ultimatum to international shipping lines in Nigeria to comply with the tax obligations imposed by extant tax laws. Executive Chairman of FIRS, Muhammad Nami, in a statement on Monday said The Service observed that many international shipping lines have not complied with the tax obligations despite…
WTI crude futures rose past $82 per barrel on Monday, extending gains for the third session underpinned by factors including supply constraints and a halt in dollar’s upward momentum, while persisting struggles within China’s economy cast a shadow on the market sentiment. Output cuts from OPEC+ majors Saudi Arabia and Russia have been boosting oil…
China has announced plan to increase retail prices of petrol and diesel on Thursday, as the local market reacts to the rise in international oil prices. Trading Economics reports that WTI crude oil futures advanced to over $84 per barrel on Wednesday, the highest since November 2022, amid growing concerns of low supply. China says…
British Foreign Minister James Cleverly will set out a new package of support to make Nigeria’s agriculture sector more climate-resilient during a visit to the African country this week, his office said on Tuesday. The support includes a 55 million-pound contract to help transform Nigeria’s rural economy and a 2.9 million-pound grant to support more…
President Vladimir Putin of Russia says his country will offer preferential loans to enable African companies to buy industrial goods from the European country and enjoy after-sales services. He said his government was devising a leasing mechanism tailored for Africa, and that the Russian Agency for Export Credit and Investment Insurance would provide insurance for…
As part part of the strategies to foster a thriving commodity-trading ecosystem, the Securities and Exchange Commission, SEC, it was set to provide a platform for selected players in the commodities trading ecosystem to engage with mining companies on opportunities for accessing long-term funding in the Nigerian Capital Market. According to the Commission, in a…
The Nigerian Export Promotion Council, NEPC, says the country recorded $2.54 billion revenue from non-oil exports in the first half of 2023. The revenue under review represents 0.09 per cent decrease when compared with the $2.59 billion recorded in the corresponding period of 2022, Ezra Yukusak, the NEPC Executive Director/Chief Executive Officer told journalist in…
