Daily Archives: May 12, 2023

Inflation defiles natural laws, may surge to 22.67% April on supply chain disruptions – Rewane

Inflation in Nigeria has consistently defiled Newton’ law of gravity that says everything thing that goes up must come down, as it is poised to hit a fresh 17-year high of 22.67 per cent in April, Bismarck Rewane, Chief Executive Officer of Financial Derivatives Company (FDC) Limited has said in its latest publication.
According to Rewane, the inflation has refused to yield to natural laws by rising for the fourth consecutive time.

Herbert Wigwe takes over from Abdul Rabiu as president of France Nigeria Business Council

Herbert Wigwe, the group managing director of Access Bank is now the president of the France Nigeria Business Council. He takes over from Abdul Samad Rabiu who have successfully completed a two term tenure as pioneer president of the council.

World Bank says Nigeria, others get mere 40% of natural resources revenue, advocates tax

The World Bank has said Nigeria and some other countries endowed with natural resources are only getting 40 per cent of revenue from proceeds from minerals, oil and gas as a result of weak policies.
In a statement announcing the new Africa’s Resource, the World Bank recommends full taxation of natural resources.