Good morning, here are the latest top business news headlines for today Friday, October 2021.
MTN Appoints New Digital, Fintech CFO
MTN Group has announced the appointment of Adekunle Awobodu as its new Chief Financial Officer for Digital and Fintech.
Kunle is a seasoned business and finance professional who has spent most of…Read more
Rising Debt Profile: “FG Had To Spend Its Way Out Of Recessions” – Buhari
President Muhammadu Buhari revealed that Nigeria’s debt profile is rising because the Federal Government (FG) had to spend its way out of recessions.
Nigeria has suffered a recession twice since President Buhari entered power in 2015…Read more
Moderna To Build Vaccine Factory In Africa
Moderna, a biotechnology company and COVID-19 vaccine maker revealed that “it will build a state-of-the-art mRNA facility in Africa with the goal of producing up to 500 million doses of vaccines each year.”
In a statement released on Thursday, the company said it anticipates “investing up to…Read more
EU, GIZ Extend €48m Power Sector Intervention in Nigeria
The European Union (EU) and Germany’s Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) have extended their €48 million investment in the Nigerian Energy Support Programme (NESP) till next year.
With the extension, the EU has added €15 million additional funding to the…Read more
States Have No Power To Enact Laws On VAT Collection – Malami
Attorney-General of the Federation (AGF), Abubakar Malami, says state governments have no power to legislate on Value Added Tax collection.
Malami added that only the National Assembly has the power to enact VAT law…Read more
World Bank’s Growth Forecast For Nigeria Is Set At 2.4% In 2021
Washington-based global financial body World Bank has projected Nigeria’s economic forecast to be 2.4 percent in 2021, highlighting the fragile state of African economic recovery from the effects of the pandemic.
This was shared in its Africa’s Pulse Report for October, where it said that…Read more
FG To Accrue More Debt To Support 2022 Budget Deficit
The Minister of Finance, Zainab Ahmed, has disclosed plans of the Federal Government to borrow in order to plug the deficit in the 2022 budget.
She shared this at a press conference after the Federal Executive Council (FEC) in…Read more
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