Foreign borrowing, not enough to solve Nigeria’s infrastructural deficit – Shettima
Nigeria’s Vice President, Senator Kashim Shettima, has said that the infrastructural deficit in the West African sub-region can best be tackled using internal resouces and not through foreign borrowing alone. He said the job of the capital market in Nigeria and across the region was therefore cut out for it and this extends to Africa at […]
Taxes on parallel market transactions seen fueling FX crisis
A proposal to introduce excise taxes on parallel foreign exchange market transactions in Nigeria has been met with strong criticism, with some economists warning it could fuel the country’s FX crisis. The Presidential Fiscal Policy and Tax Reforms Committee, chaired by Taiwo Oyedele, has recommended “the imposition of excise tax on foreign exchange transactions outside […]
US supports 18,000 Nigerian small businesses with $244m
The United States has extended its support to 18,000 small businesses in Nigeria to boost economic development and entrepreneurship. A statement said with an investment of $244m, the initiative would impact the local business landscape, ushering in a new era of growth and opportunity. The United States government, through the US Agency for International Development, […]