Deputy Spokesman of the House of Representatives, Philip Agbese, has expressed support for President Bola Tinubu’s proposed tax reform bills, asserting that their implementation will ease the financial burden on poor Nigerians and small businesses. The four executive tax bills, currently under consideration, have sparked opposition from some of the 36 state governors, who argue … Read more
The federal government is planning to raise the Value Added Tax (VAT) from 7.5 percent to 10 percent. EKO HOT BLOG reports that an executive bill to formalize the increase has already been submitted to the National Assembly. According to a Sunday report by The Cable, the proposed legislation seeks to gradually raise the VAT … Read more
The Federal Executive Council (FEC) has given its approval for the Economic Stabilization Bills (ESB), marking a significant step in the government’s Accelerated Stability and Advancement Plan. This decision was reached during the council’s 18th meeting, chaired by President Bola Tinubu at the Aso Chambers of the State House in Abuja. The ESB, based on … Read more
No Proposed Increase in VAT Rate Input VAT Credit for Businesses Suggested Basic Goods and Services to be VAT-Exempt Eko Hot Blog reports that, addressing concerns raised by media reports, the Federal Government has clarified its position on Value Added Tax (VAT) reforms. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax … Read more
FG begins Disement Of N200bn Palliative Loans Three categories of funding totaling N200 billion to support manufacturers and businesses nationwide. Delays and criticisms surround the program, but disbursements are ongoing. EKO HOT BLOG reports that the Ministry of Industry, Trade, and Investment has initiated the disbursement of the Presidential Conditional Grant Scheme to verified applicants following … Read more
EKO HOT BLOG reports that the Lagos State Governor, Mr. Babajide Sanwo-Olu and his predecessor in office, Mr. Babatunde Fashola (SAN) have stressed the need for urgent sacrifices to alleviate the current hardship caused by the economic downturn rocking the country. The duo spoke during the 18th edition of the state Executive and Legislative Parley organized … Read more
EKO HOT BLOG reports that according to a recent survey, cement prices in some northern states have seen a decline. As reported by Legit, major cement manufacturers like Dangote, Lafarge, and BUA are selling the product at nearly identical prices. Despite efforts by the Nigerian government to alleviate the rising costs of construction materials, cement remains … Read more
Nigeria faces a multitude of crises, a suffocating blend of economic hardship and escalating insecurity. This dangerous mix is evident in the recent kidnapping of over 280 pupils and teachers from schools in Kaduna state. While the safe return of these victims remains the most pressing concern, this horrific event compels us to analyze the … Read more
EKO HOT BLOG reports that President Bola Ahmed Tinubu has approved N50 billion for small businesses. The president announced this in his nationwide broadcast on the state of the economy. EDITOR’S PICKS BREAKING: Tinubu Appoints Special Investigator To Probe CBN BREAKING: ECOWAS Imposes No Flight Zone On Niger Republic Over Coup JUST IN: Nnamdi Kanu … Read more