The Fiscal Plan is benchmarked on the price of crude oil at $73.96, an exchange rate of $700, and oil production of 1.78 million barrels per day. READ MORE
2. At Second FEC Meeting, Tinubu’s Government Moves To Avert Strike
- Approves 30-day MoU Implementation Plan With Labour Unions
- FEC Meeting To Hold Every Monday Now
In a bid to avert an industrial action from the Organised Labour comprising the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), the Federal Executive Council, (FEC), on Monday approved a 30-day implementation plan for the Memorandum of Understanding (MoU) between the Federal Government and the Organized Labour. READ MORE
3. Senate Cautions BPE On Sale Of Coal Blocks
The Bureau of Public Enterprises (BPE) has been instructed by the Senate Committee on Solid Minerals Development to immediately halt all procedures related to the sale of the Nigerian Coal Corporation’s (NCC) final five coal blocks. The committee also issued a seven-day deadline to BPE for the submission of all records pertaining to the transactions and current state of the nation’s coal blocks.The directive came after BPE published advertisements for expressions of interest for the public auction of NCC Five Coal Blocks in many national dailies on April 4, 2023. READ MORE
4. 2023 IMF/World Bank Meetings: Multilateral Development Banks Pledge Increased Financing For Development
Rising from the 2023 IMF/World Bank Annual Meetings in Morocco, Heads of Multilateral Development Banks (MDBs) have pledged to strengthen their individual and collaborative actions to accelerate inclusive socioeconomic development.
To achieve a greater impact, the institutions have agreed to explore innovations to scale up financing capacity, boost climate action, strengthen co-financing and catalyse private sector engagement. READ MORE
5. Senator Ishaku Abbo Is Sacked by Appeal Court
The Court of Appeal in Abuja has ruled that Ishaku Elisha Abbo, the legislator representing Adamawa North Senatorial District in the National Assembly, was not legitimately elected. READ MORE
6. Emefiele Withdrew N3.2 trillion But Printed Only N402 billion-Falana
Femi Falana, a prominent human rights lawyer and Senior Advocate of Nigeria, has slammed the Central Bank of Nigeria (CBN) for its naira redesign policy.
According to Falana, the CBN collected about N3.2 trillion from various sources but printed only N402 billion during the implementation of the policy.
The naira redesign policy aimed to phase out old N200, N500, and N100 notes and replace them with new ones, but it caused a scarcity of the naira currency, which had a detrimental impact on businesses and households in Nigeria. READ MORE
Nigeria’s inflation rate has climbed to 26.72 per cent, marking a 0.92 per cent increase from the previous month’s 25.80 per cent
This was according to the September 2023 Consumer Price Index (CPI) and Inflation Report released by the National Bureau of Statistics (NBS) on Monday. READ MORE
8. Compliance Monitoring Exercise Of VAT,WHT Begins From October 23rd-FIRS
The Federal Inland Revenue Service (FIRS) in Nigeria has announced its intention to launch a nationwide Value-Added Tax (VAT) and Withholding Tax (WHT) compliance monitoring exercise for all taxable individuals and entities, beginning on October 23, 2023. According to a statement released on Monday by Zacch Adedeji, the FIRS chairman this initiative is aimed at enhancing tax compliance and revenue collection in the country. READ MORE
9. Election Tribunals: Abuja, Lagos Appeal Courts to hear all election matters
As step to curb political influence on tribunals,
Court of Appeal, President, Justice Monica Dongban-Mensem, has directed all election petition cases in the 36 states to Abuja and Lagos divisions.
As stated by Oasis Magazine: “It implies that the Court of Appeal will only hear and rule on appeals resulting from decisions made by other electoral petition tribunals around the country in its Abuja and Lagos divisions.
READ MORE10. Again! Portable Fight Dirty Over Money Contentious
The Nigerian musician Portable said on Sunday that an Italian event organiser was keeping the money that was sprayed on him while he was performing.
The vocalist of Zazu shared a video of himself and the promoter fighting on his verified Instagram stories. The artist has been touring Europe. READ MORE
