The Defender

President Muhammadu Buhari says his administration will continue to review obsolete laws that are hindering growth in many sectors of the Nigerian economy. President Muhammadu Buhari President Buhari spoke on Friday when he received executive members of the Institute of Chartered Accountants of Nigeria, ICAN, at the State House, Abuja. The President, who said his administration has in the last three years, worked hard to enhance the transparency and efficiency of public sector financing through strict implementation of the Treasury Single Sccount, TSA, noted that government has also introduced policies which have made significant impact on the business environment. Commending the chartered accountants for drawing public attention to the issues of the environment and climate change in their recently concluded conference, President Buhari said that steps are being taken to revive the environment in Niger Delta region even as he lamented the adverse effect of desertification in ...

The Federal Government has sold twenty one percent of its shares in the Nigerian security, printing and minting company to the Central Bank of Nigeria (CBN). Speaking after the signing ceremony, Vice President Yemi Osinbajo who is the chairman national council on privatization, noted that the ceremony underscores the importance government attaches to its privatization. The purpose of the strategic investment is for CBN to manage, restructure and restore the company to profitability within a period of five years. Highlight of the event was the signing ceremony between the Bureau of Public Enterprises (BPE) and the Central Bank of Nigeria (CBN). The transaction is expected to contribute a net sum of over seventeen billion naira to the federal government treasury.

Experts who made this call in Lagos while speaking on the Ease of Doing Business and boosting Exports Trade in the Country said depending so much on Importation is hurting Local Production. The Nigerian Government has been charged to address the issue of Trade Imbalance in the Country through the Promotion of Non-Oil Export. They added that if Nigeria Patronises Local Goods it will save the Country Millions of Dollars spent annually on Importation. On the ease of Doing Business at the Nation’s Sea Ports, others want Government to Monitor the Implementation of the Executive Order on Doing Business and provide the needed Infrastructure. Despite the fact that Nigeria has the Largest Market in Africa, the Country’s Trade Volume as a percentage of Total Trade within the African Continent still hovers around Five Point Five Per Cent.

The count down to the 2019 general election is already taking its toll on the internally generated revenue of kwara state as the internal revenue service says it recorded low collection in the second quarter of 2018. The chairman, kwara internal revenue service (KWIRS), Murtala Awodun stated this during a media parley in Ilorin, the kwara state capital. Giving a breakdown of the performance of the revenue service in the second quarter, Awodun explained that the revenue generated in the quarter was three point eight billion naira which is low compared to the six point four billion naira generated in the first quarter. He attributed it to the influence of political activities in the state. Awodun while noting that the revenue agency generated ten point three two billion naira as revenue between January and June 2018, said thirteen point five billion naira has been remitted to the special infrastructure development fund of the state since its inception in 2016. He noted that t...