Author: bibncollar

Vice President Kassim Shettima, speaking at the Nigeria Economic Summit in Abuja, expressed deep empathy on behalf of himself and President Bola Tinubu for the hardships Nigerians are facing due to the government’s economic reforms. Despite the challenges, Shettima stated that the reforms are crucial to achieving sustainable growth. “Our hearts go out to Nigerians, especially the poor and young, enduring difficult times,” Shettima said. “But we have no option if we must return Nigeria to the path of sustainable economic growth.” He emphasised that Nigeria’s economy has been volatile, over-reliant on oil, and unable to create enough jobs…

The national electricity grid has collapsed again, leading to a nationwide blackout. According to a statement on X by Abuja Electricity Distribution Company (AEDC), the national grid collapsed at 6:58pm. Power Outage Alert❗ #GridSystemOutage#PowerOutages #AEDC #PowerofCommitment pic.twitter.com/eGjayyjele — aedcelectricity (@aedcelectricity) October 14, 2024 The Spokesperson of Enugu Electricity Distribution Company, Emeka Ezeh also confirmed the grid collapse in a statement on Monday evening. He said the general system collapse occurred at 18.48 hours on Monday. The statement reads, “The Enugu Electricity Distribution Company PLC (EEDC) wishes to inform her esteemed customers of a general system collapse that occurred at 18:48…

Nigeria’s wealthiest citizens will be subject to a Personal Income Tax (PIT) rate of 25% starting next year. Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, announced this during the ongoing #NES30 conference in Abuja. Speaking as a panelist in the session titled “Fiscal and Monetary Policy Reforms: Removing Barriers to Private Sector Investment,” Mr. Oyedele explained that the tax bills currently before the National Assembly aim to provide relief to Nigerian taxpayers. Once passed, the new law will take effect in January 2025, reducing the tax burden on low-income earners while imposing…