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The Sea Empowerment Research Centre has said that with the right investments, policies and regulations, the maritime industry can play a crucial role in driving the country’s economy and connecting it to global market. The Center added that it is essential to address the myriads of challenges plaguing the industry and implement reforms that will enhance the efficiency and competitiveness of …

The CBN’s Economic Report for the review period showed that the rise was from $28.31 billion in the corresponding period of 2023. Data from the Central Bank of Nigeria said the net foreign exchange (FX) inflows through the economy rose by 65.7 per cent year-on-year (YoY) to $46.92 billion in the first ten months of 2024 (10m’24). The CBN’s Economic …

The manufacturing sector remained the top contributor to Value-added Tax (VAT) with a contribution of N395.34 billion, representing 22.21 percent of the N1.78 trillion total VAT collections in the third quarter of 2024 (Q3’24), reaffirming its critical role in Nigeria’s economic development. Recall that the National Bureau of Statistics (NBS) also reported the manufacturing sector as the highest sectoral contributor, accounting …