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10
Mar

Daily Business News Brief |  Thursday, March 10th,  2022.

Gains in Consumer Goods, Oil & Gas Sectors LiftsStock Market by N71bn –  Thisday

The stock market of the Nigerian Exchange Limited (NGX) yesterday closed transactions on a positive note, rebounding from the five consecutive bearish trading days.  In summary, the NGX All-Share Index (ASI) grew by 132.74 basis points or 0.28 per cent to close at 47,287.09 basis points, while the overall market capitalisation value gained N71 billion to close at N25.485 trillion . ……………… read more

LIRS Reaffirms March 31 Deadline for Filing Individual Annual Tax Returns – Vanguard

The Lagos State Internal Revenue Service (LIRS) has notified all individual taxpayers, including self-employed persons and employees under the PAYE Scheme to file their Annual Tax Returns on or before March 31, 2022.  This it said in a statement is in accordance with provisions of the Personal Income Tax Act (PITA) Cap P8 2011 (as amended)………………. read more

CBN increases currency in circulation by N418bn over cash transactions – Punch

THE currency in circulation rose by N418bn from N2.91tn in December, 2020, to N3.33tn in December,  2021, according to figures obtained from the Central Bank of Nigeria. The CBN data showed that currency in circulation had increased by 19.06 per cent from N2.44tn recorded as of December, 2019. The CBN said in its report on currency operations that, “the growth in CIC reflected the continued dominance of cash in the economy.”……………… read more

Crude oil price: MAN warns of hyper inflation, subsidy hits N400, diesel, 625 – Thisday

The rising prices of crude since the Russia-Ukraine war began, coupled with exchange rate instability in Nigeria, among others, have pushed up the prices of refined petroleum products across the country, according to findings by The PUNCH.  Industry figures seen on Tuesday showed that the cost of Brent, the crude against which Nigeria’s oil is priced, rose above $133/barrel around 6pm Nigerian time. The commodity had traded below $90/barrel before the war in Ukraine started…………… read more

Boat operators push for floating fuel stations – Daily Independent

The Association of Tourist Boat Operators and Water Transport of Nigeria has urged the Federal Government to establish floating fuel stations on the nation’s water bodies. The National President, ATBOWTON, Ganiyu Tarzan, disclosed this in an interview with our correspondent. He added that this would address the issue of fuel supply for boat operators.  He said, “On the issue of fuel stations, we need floating fuel stations.  This is a floating station located in the middle of the water which will solve the issue of boat operators going back and forth looking for fuel……………. read more

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