Prosperity

Abuja chamber welcomes FCT tax harmonisation

Abuja Chamber of Commerce and Industry (ACCI) has welcomed the plan by the Minister of the Federal Capital Territory (FCT), Alhaji Muhammad Bello to harmonise tax policies within the territory in order end multiple taxations on by businesses in the territory. The President of ACCI, Alhaji Abubakar, in a statement yesterday, commended the minister for acknowledging the challenges faced by businesses within the territory due to series of levies, charges and taxes from Federal, FCTA and Area Councils. “Multiple taxations within the FCT and the larger national economy has imposed crippling consequences on businesses. “The fallout has been many failed businesses, the rising level of inflation, the non-thriving of existing ones and the lack of capacity to engage many unemployed youths. “We want ...

World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021

ABS-CBN The World Bank says global economy is expected to grow by 4 per cent in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year. It said this in a statement issued in Washington D.C. on Tuesday at the presentation of the January 2021 Global Economic Prospects. It added that the said recovery would likely be subdued unless policy makers moved decisively to tame the pandemic and implement investment-enhancing reforms. The bank also said that growth in Sub-Saharan Africa was forecast to rebound moderately to 2.7 per cent in 2021, while Nigeria’s growth was expected to resume at 1.1 per cent. For the region, it said that while the recovery in private consumption and investment was forecast to be slower than previously envisioned, export growth was expe...

Governor Fayemi hails Ooni on fifth coronation anniversary

The Governor of Ekiti State, Kayode Fayemi, has congratulated the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, on his fifth coronation anniversary. The Governor said the foremost traditional ruler has been making very significant impact in the development of Yoruba land in particular and Nigeria in general since his ascension to the exalted throne. Fayemi, in a statement by his Chief Press Secretary, Yinka Oyebode, hailed the Ooni for using his position to promote peace among the various ethnic nationalities in the country as well as working with relevant stakeholders and institutions to advance the socio- economic development of the people. Describing Ooni Ogunwusi as a vibrant, visionary and progressive monarch, the Governor noted that the Arole Oodua has always been in the forefr...

African environment ministers support green recovery plan

Ministers of Environment from Africa on Friday agreed to support a comprehensive green recovery plan to boost economies and social systems aimed at building back better from the coronavirus (COVID-19) pandemic. This is contained in a ministerial statement issued at the end of the eighth special session of the African Ministerial Conference on the Environment (AMCEN) in Nairobi, Kenya. Representatives of the 54 African governments re-affirmed their commitment to enhance environmental resilience as well as protect and sustainably use natural resources for the region’s development. The high-level ministerial regional conference held virtually under the theme “Enhancing Environmental Action for Effective Post-COVID Recovery in Africa”, further called to accelerate the protection and restoratio...

President Buhari urges Nigerians to pray for peace, unity

President Muhammadu Buhari has urged Nigerians to continue to pray for peace, unity and stability in the country. The president made the call in an address at the 70th anniversary of the Qaddriyya on Saturday in Kano. Buhari, represented by Alhaji Sabo Nanono, Minister of Agriculture and Rural Development, said the call was imperative to foster unity and address security challenges in the country. He enjoined the youth to avail themselves of the opportunities of agriculture and economic empowerment programmes initiated by the Federal Government to learn trades, become self reliant and engage in productive activities. Buhari expressed delight over the conduct of the event and commended the Leader of the Qadiriyya, Sheikh Qaribullah Nasiru-Kabara for his support and constant prayers for the ...

Governor Fayemi: Traditional institution agent of grassroots development

The Ekiti State Governor, Dr. Kayode Fayemi, has promised to always accord the traditional institution with respect, describing it as agents of grassroots development, hence the desire of his administration to always fill vacant stools promptly Fayemi’s said this on Tuesday, at the presentation of the staff of office and instrument of appointment to the new Olorin of Orin Ekiti, Oba Olufemi Adeniran Ajibewa. The ceremony was held at the Conference Hall of the Governor’s Office, Ado Ekiti in line with COVID-19 protocols. Fayemi urged Oba Ajibewa to see his new position as a call to duty to serve his people and move the town forward. Represented by the Deputy Governor, Otunba Bisi Egbeyemi, the Governor described the throne as a sensitive position that calls for considerable wisdom, diligenc...