Customs implements duty-free import of food items

The Nigeria Customs Service has been directed to start the implementation of the zero per cent import duty and exemption of Value-Added Tax on basic food items after President Bola Tinubu gave approval. The Ministry of Finance confirmed Tinubu’s approval in a letter to the Nigeria Customs Service dated August 8, 2024. Subsequently, the Comptroller-General …

Nigeria and Equatorial Guinea president sign gas pipeline agreement

President Bola Tinubu and President Teodoro Mbasogo of Equatorial Guinea have signed an agreement on a gas pipeline for Gulf of Guinea. The president’s spokesman, Ajuri Ngelale disclosed this in a statement on Thursday, August 15. He said the agreement on the Gulf of Guinea gas pipeline project was signed on Wednesday, August 14. According …

Report says Nigeria’s infation drops for the first time since 2022

Nigeria’s inflation fell to 33.40 percent in July 2024 from 34.19 percent in June on a year-on-year basis. This is the first time the country’s inflation has cooled down since December 2022 when it stood at 21.34 percent. The National Bureau of Statistics disclosed this in its latest Consumer Price Index and Inflation for July …