Nigeria gets W’Bank $1.5bn for subsidy removal, tax bills

Nigeria gets W’Bank $1.5bn for subsidy removal, tax bills

he World Bank has fully disbursed a $1.5bn loan to Nigeria following the Federal Government’s implementation of key reforms, including removing fuel subsidies and introducing comprehensive tax policies, The PUNCH reports. The loan, part of the Reforms for Economic Stabilisation to Enable Transformation Development Policy Financing initiative, is among the fastest disbursements Nigeria has received with both tranches released in less than six months. According to a World Bank document , the […]

December 30, 2024 10

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NEWS

Defence ministry gets 20 armoured personnel carriers

The Ministry of Defence, on Wednesday, handed over 20 newly acquired Armored Personnel Carriers to the Defence Headquarters to enhance the professional capabilities of troops of the Nigerian Armed Forces. This is contained in a statement by Dr Ibrahim Kana, Permanent Secretary of the MoD in Abuja on Thursday. The APCs were handed over to the Chief of Defence Staff, Gen. Christopher Musa, by the PS. In his remarks at […]

May 9, 2024 24 2

BUSINESS

Dangote refinery gets valid operating licence soon – FG

The Federal Government, on Tuesday, announced that it was set to issue a fully valid operating licence to the 650,000 barrels per day capacity Dangote Petroleum Refinery. It announced this at the Stakeholders’ Consultation Forum on Midstream and Petroleum Host Community Development Trust Regulations organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja. The NMDPRA, an agency of the Federal Government, however, explained that though it had […]

May 1, 2024 42

NEWS

Impeachment: Shaibu gets final chance to open defence

The Deputy Governor of Edo State, Philip Shaibu, on Thursday, failed to show up to open his defence before the seven-man panel probing allegations of perjury and leaking the government’s secrets against him. The retired Justice S. A. Omonuwa-led panel, which had its inaugural sitting on Wednesday in Benin, had adjourned till Thursday for Shaibu to open his defence. The Edo State House of Assembly, which is the petitioner in […]

April 5, 2024 12

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