Nigeria’s economic landscape tells an increasingly troubling story for certain states with extremely low Internally Generated Revenue (IGR). According to the National Bureau of Statistics (NBS), 10 states recorded the lowest IGR figures in 2023, with eight Northern states dominating the list. For context, Ogun State IGR (₦146.88 billion) or Lagos IGR in 2023 is more than the … Read more
The recent response from the Northern Governors Forum, led by Gombe State Governor Mohammed Yahaya, opposing a proposed derivation-based Value Added Tax (VAT) sharing formula is not only laughable but reveals their unwillingness to engage in meaningful economic discourse. According to the proposed policy, states hosting more multinational companies would receive a larger share of … Read more
A suspended pastor of the Redeemed Christian Church of God (RCCG), Ayorinde AdeBello, has denied the allegation of homosexuality levelled against him by the church. He took to his Instagram page to react to the RCCG letter which announced his suspension because of alleged discussions he had with teenage boys of the church. Ayorinde, who said … Read more
The Minister of Federal Capital Territory (FCT), Mr Nyesom Wike, has ordered beggars in the city to relocate to their respective states to state. In a trending video, the FCT minister was heard saying, “Whether you said you are not the cause of your (situation), it is none of my business. “Stay in your state … Read more
Moniepoint is now the eighth unicorn out of Africa after the latest Series C fund. Here are the highlights of the company’s success in the recent fundraising: Funding Round Success: Nigerian fintech Moniepoint has raised $110 million, with Google’s Africa Investment Fund and Verod Capital joining as new investors, alongside existing backers, Development Partners International … Read more
An internal memo of the Redeemed Christian Church of God (RCCG) has revealed that Pastor Ayorinde AdeBello and Deacon Oke Mayowa have been suspended from the church over homosexuality allegations against young people in the church. In an internal memo dated October 28, 2024, cited by InfomediaNG, the Special Assistant to the General Overseer on Administration has also been … Read more
The recent attacks on power infrastructure in Nigeria’s North East and North West, affecting 13 states, underscore that Boko Haram insurgents—or whatever they call themselves—still have the capacity to severely impact Nigeria’s economy. They must be crushed without any hesitation. The rhetoric of “they have been decimated” must end. Reports indicate that insurgents vandalized the … Read more
The Northern Governors’ Forum says they are unhappy with President Bola Tinubu’s proposed tax policy, which is based on a derivation principle. According to this principle, states would receive tax revenue in proportion to what they contribute to the national tax purse. While this policy has not yet become law, President Bola Tinubu has requested that the … Read more
Nigeria’s Mining Marshals have apprehended a group of illegal miners, comprising three Chinese nationals and two Nigerians in Rafin-Gabas in Kokona Local Government Area of Nasarawa State. A reliable source told InfomediaNG on Monday that the illegal miners engaged in illicit mining of flourite, zinc, lead, and tin at the location. It was gathered that … Read more
What is Fire Insurance? Fire insurance is a type of insurance policy that provides financial coverage for damages or losses caused by fire. It protects your property—whether it’s your home, office, or business—by covering the costs of repairing or replacing the damaged structure and belongings. This policy ensures you are not left to bear the … Read more
Bluebird International is an IT staffing and software development company founded in 2001 by Balaz Refi, a Web Developer and Software Engineer. It has its headquarters in Budapest, Hungary, and operation offices in Australia, Ireland, and the United States. Type: Private Industry: Information Technology, Staffing, Software Development, FinTech, Automotive, Artificial Intelligence Founded: 2001 Founder: Balaz Refi Headquarters: … Read more
Consumers are increasingly conscious of what they put into their bodies and how products affect their health and the environment. This awareness has led to a demand for transparency in product ingredients, with consumers seeking clarity and honesty from brands. PwC highlights that a significant 31% of conscious consumers see inflation as the top risk … Read more
Losing a loved one is one of the most difficult experiences in life. On top of the emotional toll, you may find yourself dealing with various responsibilities, including managing their financial affairs. If your loved one had a life insurance policy, knowing how to claim the benefits can help ease some of the financial burden … Read more
Decentralized Finance (DeFi) insurance refers to a blockchain-based insurance system that operates without the need for traditional intermediaries such as insurance companies or brokers. In DeFi insurance, smart contracts are used to automate claims and payouts, allowing users to protect their digital assets in a decentralized manner. This innovative approach aims to bring more transparency, … Read more
Nigeria’s government is proposing a 70% windfall tax on the foreign exchange profit made by the financial institutions in the country, following the country’s devaluation of its currency. So what is windfall tax? A windfall tax is a levy imposed by governments on companies that have benefited unexpectedly from circumstances they did not contribute to, … Read more