Author: Casey Ayodeji
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Foreign Investment Drought: 32 Nigerian States Struggle to Attract Capital in 2024
In a troubling economic revelation, the latest National Bureau of Statistics (NBS) data shows that 32 out of 36 Nigerian states have failed to attract any foreign investment in the first nine months of 2024, a deterioration from 2023, when 27 states were in a similar position. The numbers tell a story of concentrated economic…
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NCAA to Sanction Airlines Over Delayed Ticket Refunds
The Nigerian Civil Aviation Authority (NCAA) has announced it will enforce strict penalties against airlines failing to process ticket refunds within prescribed timelines. Michael Achimugu, NCAA’s director of public affairs and consumer protection, made it known that ticket refund compliance is a critical priority for the agency. Under the NCAA Regulations of 2023, airlines must…
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Trump, Shallipopi, Bobrisky Top Google’s 2024 Nigeria Year in Search Trends
Google has released its annual “Year in Search” report for Nigeria, revealing the most searched and trending topics of 2024. Bobrisky and Beta Edu led the national personality search, while Donald Trump dominated global searches. Notable searches also included personalities like Junior Pope and Herbert Wigwe. Entertainment tops the trend with movies like ‘A Tribe…
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Vatican Court Jails Sistine Chapel Choir Officials in Fraud Case
The Vatican court has sentenced three defendants in a high-profile financial fraud case involving the management of the historic Sistine Chapel Choir. Massimo Palombella, the former musical director, received a three-year and two-month prison sentence and a €9,000 fine. Michelangelo Nardella, the former administrative director, was sentenced to four years and eight months in prison.…
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Oil Prices Drop as Syria Regime Change Concerns Ease
Oil prices experienced a slight decline on Tuesday as market concerns about the Syrian regime change began to settle. Brent crude, the global oil benchmark, fell 0.11 percent to $72.06 per barrel, while US West Texas Intermediate crude dropped 0.20 percent to $68.23. Despite the current dip, both benchmarks had climbed over 1 percent on…
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Africa Needs $200bn Annual Investment to Meet Energy Goals, Says NLNG Boss
Philip Mshelbila, managing director of Nigeria LNG Ltd, has called for over $200 billion in annual investments to address Africa’s energy challenges and climate objectives. Speaking at the 2024 World LNG Summit in Berlin, Mshelbila emphasized the critical need for strategic energy investments in a continent with a young population and limited economic resources. “The…
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December Blockbusters: Nollywood’s Biggest Names Bring the Heat to Cinemas
Three of Nollywood’s most celebrated actresses are set to captivate audiences with major film releases this December in time for the festive season. Funke Akindele’s “Everybody Loves Jenifa” and Mercy Aigbe’s “Thin Line” will premiere on December 13, 2024, with Toyin Abraham’s “Alakada Bad and Boujee” following on December 20, 2024. Akindele is making an…
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Tax Reforms Promise Benefits for All Nigerians, Says Oyedele
Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has detailed how the proposed tax reforms will deliver benifits across multiple sectors of Nigerian society. In a statement on X (formerly Twitter) on Monday, Oyedele emphasized that the tax bills contain considerable gains for households, individuals, youth, small businesses, investors, high-income…
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Nigeria, Saudi Arabia Open Talks on Iron Ore and Steel Partnership
Nigeria and Saudi Arabia have established partnership to extract and process iron ore, heralding a step towards Nigeria’s industrial development. The agreement emerged from high-level discussions between Dele Alake, minister of solid minerals development, and Khalid Al-Musdaifer, Saudi Arabia’s deputy minister of minerals and energy. In line with President Bola Tinubu’s Renewed Hope agenda, the…
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Nigeria Sees Sharp Decline in Company Income Tax
The National Bureau of Statistics (NBS) reports that Nigeria’s federal government collected N1.77 trillion in company income tax (CIT) during the third quarter of 2024, a significant 28.2 percent decrease from the previous quarter’s N2.47 trillion. The breakdown reveals local payments at N920.91 billion and foreign CIT contributions at N852.29 billion. Despite the quarterly drop,…