Fashola slashes land charges in Lagos

Lagos State Governor, Mr. Babatunde Fashola SAN, Monday signed into law an Executive Bill reducing the cost of land transactions in the State saying it is “in order to ensure that land transactions are carried out with minimal difficulty especially with difficulties relating to payment of taxes, rates and legitimate levies charged under the enabling law”.

South African Stocks Record Largest Daily Decline Since 2008

South Africa’s benchmark Top-40 index shed 3.9% Monday, its biggest drop since November 2008. The article blamed a worldwide dumping of  emerging market assets in the face of a resurgent dollar and falling oil prices.

Nigerian All Share Index Shed 2%

The Nigerian Stock Exchange closed its first day of trading 2014 on a negative note with the All Share Index losing 2.08% to close lower at 33,943. 

The Presidency Is Budgeting N815m For Fueling of Cars & Generator in 2015

The breakdown of the 2015 Budget is becoming a holy grail of some sort. For some reason it is yet to e published officially over two weeks after it was presented to the National Assembly.

We’ve employed 50,000 youths in 43 months —Amosun

Ogun State Governor, Senator Ibikunle Amosun has disclosed that his administration has in 43 months of its emergence employed no fewer than 50,000 youths in the state through direct and indirect employment.

Oil Price Now As low at $53

The prices of crude oil in the international market declined further on Monday raising fears that the Organisation of Petroleum Exporting Countries,

Federal Government to spend N9.626 trillion in 2015 as against N12.188 trillion spent in 2014

WORRIED by the dwindling economic fortunes of the country, the Federal and 31 state governments of the country have proposed what has been termed as ‘austere’ budgets

N20.5bn will be spent on Kaduna education sector in 2015 – Gov. Yero

Speaking at the 22nd Annual General Meeting of the Zaria Education Development Association in Zaria, Kaduna State, Yero said his administration had placed education second to security which has made the sector to receive allocation of N20.5 billion.

Nigeria’s Economy: Gloomy And Dangerous

A friend of mine once said, “Nigeria is so rich that nothing will ever create an economic down-turn.”

DON’T MISS These Reports If You Invest In Shares or Plan To Someday

Emma is an avid football fan and a supporter of Arsenal football club. Every morning, afternoon and night he gets alerts via a number of sports news outlets informing him of activities about his club and sports in general.

US Crude Oil Import from Nigeria

This is just a stark reminder of how bad Nigerian crude oil exports have performed this year. From exporting over 450,000 barrels to the US in 2007, Nigeria exported nearly zero to the US in 2014.

35% Additional Import Duty on Tokunbo Vehicles Was Postponed?

The government has bowed to pressure and postponed the planned increase of tariffs on second hand vehicles to April 30, 2015. According to an article in the Punch, the government gave the following reasons for taking that decision.

The Tony Elumelu Foundation to invest $10million for 1,000 African startups

For all the debate about lack of funding for African tech startups, things are about to make a turn for better in 2015.

Here Is How Much Nigerian All Share Index Returned In 2014

Phew 2014 is finally over for Nigerian stocks!!! What a year it has been for the Nigerian All Share Index. The year opened with very high expectations following a resounding 47% posted in 2013.

Russia Is Now Considering Sharia Financing

It appears Russian Banks are considering a ‘drastic’ new way of raising finance after the Central Bank raised interest rates to 17% earlier in the month.Bloomberg reports they are now considering Islamic Finance  aka Sharia Finance as an option to raise money.

CBN Blows $2billion Defending The Naira (One Month After Devaluation)

It’s just over one month since the CBN devalued the Naira and increased lending rate in a drastic attempt at defending the naira. Most analysts saw this as a very bold move by the CBN Governor and hoped the naira slide will bottom out.

Skye Bank Appoints New MD for Mainstreet Bank

Skye Bank Plc says it has appointed Mrs. Amaka Onwughalu as the interim Managing Director of Mainstreet Bank.

Skye Bank said that Onwughalu would also oversee the affairs of the bank as the Deputy Managing Director.

These Are The Two Worst African Currencies of 2014

It appears the Ghana’s cedi and Zambia’s kwacha are set to end 2014 as the worst performing African currencies in 2014. According to data from Reuters, the cedi and kwacha have both depreciated by 27% and 15% year to date. In fact at some point in time this year, the Ghanaian currency was down 40%. Nigerian naira looks set to close down 13.5% this year.

This Is The Full 2015 Nigerian Budget Speech

HIGHLIGHTS OF PROPOSED 2015 BUDGET: LUXURY TAX DETAILS UNVEILED; FOOD PRICES AND INFLATION DOWN DESPITE OIL PRICE DROP; SPECIFIC MEASURES TO REDUCE EXPENDITURE

DIVERSIFICATION IS WORKING; FOOD PRICES ARE STABLE
AND INFLATION IS LOW

The CBN Plans Sale of N1.22 trillion Treasury Bills In The Next 12 Weeks and Will Sell on Xmas Day

• The Central Bank has announced plans to borrow about N1.22 trillion via sale of Treasury Bills in the First Quarter of 2014.
• The sale is for the period between December 18, 2014 to March 5 2014.