Author: Gbenga Oluranti OLALEYE

Lagos State Governor Babajide Sanwo-Olu has expressed deep sorrow over the tragic truck accident that occurred in the Aiyetoro area of Epe, Lagos State, on Monday, November 11, which claimed the lives of at least three people and left several others injured. In a statement posted on X (formerly Twitter) on Tuesday, November 12, Governor Sanwo-Olu extended his condolences to the families of the victims, describing the incident as heartbreaking. “I wish to extend my heartfelt condolences in light of the tragic traffic accident that occurred in the Aiyetoro area of Epe, Lagos State, yesterday, Monday, 11 November 2024,” Sanwo-Olu…

The Federal Government has announced significant progress in Nigeria’s export sector, with trade policies and facilitation programmes leading to a surge in the country’s trade balance. According to government officials, Nigeria’s trade surplus reached N6.5 trillion in the second quarter of 2024, driven by strong export performance. Vice President Kashim Shettima, speaking at the 3rd National Conference on Non-Oil Exports in Abuja on Tuesday, November 12, revealed that exports now make up 60.89% of Nigeria’s total trade, amounting to N19.42 trillion. This marks a slight increase of 1.31% from the first quarter of 2024, and a remarkable 201.76% growth compared…

The estimated landing cost of Premium Motor Spirit (PMS), commonly known as petrol, in Nigeria has decreased significantly, offering a glimpse of potential relief for consumers. The cost of bringing petrol to the country dropped by 20.34%, falling to N971.57 per litre over the past three months, according to recent data released by the Major Energy Marketers Association (MEMA). However, despite this decline in the cost of importing and distributing the fuel, Nigerians are facing higher petrol prices at the pump. As of November 8, 2024, the retail price of petrol has increased by a staggering N443 per litre, or…

The Chairman of the Presidential Tax Reform Committee Mr. Taiwo Oyedele, has warned sternly about the potential consequences of allowing state governments to collect Value-Added Tax (VAT). Speaking at a recent public forum, Oyedele cautioned that such a move could severely harm businesses, disrupt economic stability, and undermine Nigeria’s tax revenue system. His remarks come amid ongoing legal and political debates over VAT collection, with some states, most notably Rivers and Lagos, seeking to take control of VAT collection from the federal government. Oyedele, who has played a pivotal role in Nigeria’s tax reform efforts, pointed to the historical context…

The Chairman of the Presidential Tax Reform Committee, Mr. Taiwo Oyedele, has forecasted a dramatic increase in Nigeria’s VAT revenue, suggesting that it could double in less than two years if a proposed tax reform bill passes through the National Assembly. He argued that the reform, which would streamline tax collection processes and allocate more responsibility to states, would not only boost national revenue but also incentivize state governments to actively support economic activities within their jurisdictions. Speaking at a public engagement on the proposed tax reforms, Oyedele emphasised that the reforms were designed to shift the balance of revenue…

Former Vice President of Nigeria, Prof. Yemi Osinbajo, has advised Nigerian business owners to reconsider their lavish lifestyles, which he says are unsustainable and detrimental to the long-term health of their businesses. Osinbajo made the call during his keynote address at the 2024 Women in Management, Business and Public Service (WIMBIZ) conference, held in Lagos on Thursday, November 7. The two-day event, now in its 23rd edition, is themed *“Dream, Dare, and Do”* and chaired by Professor Folasade Ogunsola, the Vice Chancellor of the University of Lagos. In his speech, Osinbajo expressed concern that many business owners in Nigeria are…

As Nigeria approaches the 2027 general elections, two key figures within the opposition Peoples Democratic Party (PDP) former Senate President Bukola Saraki and Governor Seyi Makinde of Oyo State have called on PDP stakeholders to unite and revitalise the party in order to offer a clear, hopeful path for Nigeria’s future. The two leaders made the appeal on Wednesday during the inauguration and unveiling of the Board of Governors of the Peoples Democratic Institute (PDI) in Abuja. The event marked a significant step towards rejuvenating the PDP’s ideological direction ahead of the upcoming elections. Governor Makinde, in his remarks, emphasised…

President-elect Donald Trump has made his first official appointment after his surprise election victory, naming Susie Wiles, his campaign manager, as White House chief of staff. This marks the first woman to hold the position in Trump’s administration and underscores his intention to bring a fresh leadership style to the White House. Wiles, a Florida native, is known for her tough, pragmatic approach and has earned widespread respect within Trump’s team. In a statement, Trump praised Wiles for her “smart, innovative” leadership, calling her “universally admired and respected.” Her appointment is seen as a significant move for Trump as he…

President Bola Tinubu has called on media managers to focus on factual reporting and uphold professional integrity as key pillars of the industry, highlighting their essential role in Nigeria’s development. Tinubu appealed during his address at the All Nigerian Editors Conference in Yenagoa, Bayelsa State, on Thursday, November 7. The conference, which brought together media owners, editors, and other key stakeholders, was held under the theme: “Economic Growth and Development Strategies in a Resource-Rich Country.” During the event, several media professionals expressed concerns about the economic difficulties facing the industry, urging the President to take steps to safeguard the future…

Victor Osimhen scored twice as Galatasaray handed Tottenham Hotspur their first defeat of the Europa League season, securing a 3-2 victory in Istanbul on Thursday that propelled the Turkish champions to the top of Group D. Osimhen’s brace, combined with an early stunner from Yunus Akgun, helped Galatasaray extend their perfect record in the competition to four matches, leaving them with 10 points and all but guaranteeing their qualification for the knockout stage. In contrast, Spurs dropped to fifth place after losing their 100% record in the group. The match kicked off in explosive fashion, with Galatasaray taking the lead…