Business

The Federal Government’s fiscal deficit rose from N491.28billion in March to N643.09bn in April. According to the Central Bank of Nigeria, the 14.3 percent increase in FGN retained revenue was offset by the 23.8 per cent rise in public spending, leading to an expansion of the fiscal deficit. Provisional federally collected revenue rose by 66.3 percent relative to the level in March but fell short of the budget by 14.7 […]

As the prices of food items continue to increase in the country, beef has recorded a significant increase at the popular Ekeonuwa Market, in Imo state. In an interview with Boss Radio Business Correspondent, a Butcher, Destiny Amakame says the price changes by day. Another butcher, Ignatius Onachukwu, who spoke in vernacular, speaks on the increase in price of transportation. Chiemere Monday, blames in the increase on insecurity and high […]

The Nigerian Customs Service has granted the sum of N2.29trillion as Customs’ tax exemptions in 2021. According to reports, this represents a 194.65 per cent increase from the N779.74billion waivers granted in 2020. The report revealed that the highest jump in aggregate Customs’ exemptions was in the Common External Tariff levy, which jumped from N223.99billion in 2020 to N1.42trillion in 2021.  

The Presidential Enabling Business Environment Council, PEBEC, has unveiled its plans to kick start a $750million World Bank-funded programme in January next year. This was disclosed by Vice President, Yemi Osinbajo, during a meeting of the PEBEC on Tuesday. According to Osinbajo, the $750million operation comprises two main areas, a $730million Program-for-Results Financing component and a $20million technical assistance for investment project financing.

The House of Representatives’ Committee on Public Accounts has disclosed that it is investigating the Federal Ministry of Agriculture over the award of contracts worth N18.9billion to several Companies to clear bushes during the COVID-19 lockdown. Chairman of the committee, Oluwole Oke, made this known at an investigative hearing on Tuesday in Abuja. Oke stated that the House was interested in finding out the location and significance of such projects, […]

The price of garri has recorded a significant increase at the popular World Bank market. In an interview with Boss Radio Business Team, Ikechukwu Ugwu, says a bag is N28,000. Another garri seller, Charity Ikechi, says it has increased.

The inflation in prices of food items has affected the price of Palm Oil in the popular Amakohia Market in Imo State. Speaking with Boss Radio Business News, a Palm Oil Seller, Nneka Okeke, blames the increase on diesel. For Chinedu Michael, the Palm Oil price increase is as a result of dollar increase.

Investors lost N571billion at the end of trading on the floor of the Nigerian Exchange Limited last week. The All-Share Index and market capitalization depreciated by 2.09 per cent to close at 49,664.07 and N26.787trillion last week. According to the NGX, 33 equities appreciated in price during the week, lower than 41 equities in the previous week.

The Federal Government has revealed that the total cost of post-harvest losses in Nigeria’s agriculture industry is N3.5 trillion. Minister of State for Agriculture and Rural Development, Mustapha Shehuri, made this known at a presentation of the International Standard Organization Certification. Shehuri added that for fruits and vegetables, losses could be as high as 50–60%.