Economy Archives - Page 5 of 10 - Independent Digital News Network

Tinubu’s Tax Tsunami: From “Runs Girls” to Influencers, All Income Now Taxable

Tinubu’s sweeping tax reforms declare every form of income taxable, from sex work to social media influencing, triggering shockwaves across Nigeria’s economy and culture.

PENGASSAN vs Dangote: Strike Cripples Power Grid, Costs Nigeria $110m Daily

IDNN4 months ago4 months ago0

Nigeria reels as the PENGASSAN strike cuts power output in half and halts crude exports. Dangote Refinery, at the heart of the storm, turns to the courts and security forces to stave off sabotage claims and looming economic paralysis.

Dangote Refinery Fuel Supply Crisis Deepens as Reps, FG Step In

IDNN4 months ago4 months ago0

Nigeria’s fuel supply faces turbulence as PENGASSAN targets Dangote Refinery, lawmakers intervene, and FG reassures stability under naira-for-crude.

Dangote Refinery Sack Row: Union Claims Mass Dismissal, Management Silent

IDNN4 months ago4 months ago0

Union leaders allege Dangote Refinery has sacked Nigerian workers after joining PENGASSAN. A leaked memo fuels confusion, while management remains silent.

AMCON Sells 34.22% Unity Bank Stake to Providus

IDNN4 months ago4 months ago0

AMCON has sold its 34.22% stake in Unity Bank to Providus Bank in a deal regulators say will stabilise Nigeria’s banking sector. But questions linger about transparency, governance, and investor confidence.

Naira Comeback on Carry Trade and Softer Dollar

IDNN4 months ago4 months ago0

The naira rallied this week, buoyed by carry trade inflows and a weaker U.S. dollar. Analysts say CBN’s policy easing has boosted investor appetite for Nigerian assets.

CBN Rate Cut: OPS Says Relief Still Marginal

IDNN4 months ago4 months ago0

The Central Bank of Nigeria cut rates for the first time in five years, lowering the MPR to 27%. But the Organised Private Sector says relief remains marginal for businesses battling high borrowing costs.

Nigeria’s overnight lending rate falls 100 bps

IDNN4 months ago4 months ago0

Nigeria’s overnight lending rate fell by 100 basis points this week, reflecting excess liquidity after the CBN’s policy easing and growing confidence in monetary stability.

TUC President Osifo: Nigeria’s Refineries Worked But Ran at Loss

IDNN4 months ago4 months ago0

TUC president Festus Osifo insists Nigeria’s refineries did function but at a loss, calling for 51% private control to improve efficiency and end recurring shutdowns.

Oil Workers Warn FG’s JV Stake Sale Could Bankrupt NNPC Ltd

IDNN4 months ago4 months ago0

By IDNN Energy Desk The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers...