The Nigeria Governors’ Forum (NGF) has voiced strong opposition to any plans to increase the Value Added Tax (VAT) rate, stressing the need for reforms that safeguard economic stability and prioritize the welfare of Nigerians. During a meeting with the Presidential Tax Reform Committee on Thursday, the governors discussed the country’s fiscal policies and outlined…
Social media giant TikTok has announced plans to cease its operations in the United States this Sunday, 19th January, 2025 if a legislator-mandated ban takes effect. The decision would impact over 170 million American users, marking a significant turning point in the app’s presence in one of its largest markets. The shutdown requires TikTok to…
In a historic breakthrough, Israel and Hamas have agreed to a ceasefire in Gaza, coupled with the exchange of Israeli hostages for Palestinian prisoners. This landmark agreement comes after months of intense negotiations mediated by Egypt and Qatar, with substantial backing from the United States. The timing of the deal is notable, as it precedes…
Nigeria’s inflation rate surged to 34.80% in December 2024, up from 34.60% in November, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Wednesday. The rise, although marginal at 0.20%, reflects increased demand for goods and services typical of the festive season. The December 2024 inflation…
The Federal Government, through the Debt Management Office (DMO), has unveiled two new Savings Bonds designed to provide Nigerians with a secure and rewarding investment opportunity. Offering competitive interest rates, these bonds are an appealing option for both individuals and institutional investors looking to grow their wealth in a safe and reliable way. The new…
Members of the Lagos State House of Assembly have impeached Speaker Mudashiru Obasa over allegations of financial impropriety and statutory misconduct. This decision marks a dramatic turn in Obasa’s tenure, which has been marred by controversy. The lawmakers wasted no time in appointing his successor, Mojisola Meranda, as the new Speaker. Meranda, who represents Apapa…
The Nigerian government has approved four airlines to streamline air travel for Nigerian pilgrims attending the 202 Hajj. The announcement was made known by Prof. Abdullahi Usman, the Commission’s Executive Chairman of the National Hajj Commission of Nigeria (NAHCON) on Sunday. Following a rigorous selection process, the following airlines have been granted approval: Air Peace…
In a significant step of boosting Nigeria’s infrastructure, the China Development Bank (CDB) has approved a €245 million ($254.76 million) loan to support the construction of the Kano-Kaduna railway. This standard-gauge railway, spanning 203 kilometers, is set to enhance connectivity between Kano and Abuja, transforming travel and trade in the region. The Kano-Kaduna railway is…
The U.S. Congress descended into turmoil on its first day of the new session as right-wing Republican dissenters blocked Louisiana Congressman Mike Johnson’s bid to return as Speaker of the House. Despite backing from former President Donald Trump, Johnson fell short of the simple majority needed to secure the gavel in a dramatic first round…
U.S. appeals court has blocked President Joe Biden administration’s push to restore net neutrality. The court determined that the Federal Communications Commission (FCC) lacks the legal authority to reinstate net neutrality rules. The decision, delivered by a three-judge panel from the 6th U.S. Circuit Court of Appeals in Cincinnati, underscores the ongoing debate over the…
