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Falling Oil Prices: Nigeria may double VAT

The federal government plans to double its value-added tax (VAT) and cancel government projects if oil prices continue to slide. Coordinating Minister for the Economy/Minister of Finance, Dr. Ngozi Okonjo-Iweala said this in an interview with The Wall Street Journal. According to OKonjo-Iweala, the country is reviewing some 6,000 ongoing projects to see which will be kept, delayed, or scrapped. ...

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Lagos petitioned by Yaba Community

Dwellers on Yeye Street, Iwaya in the Yaba area of Lagos State have petitioned the Lagos State Governor, Babatunde Fashola, the state’s House of Assembly and the ministry of justice, among others on the alleged blockade of the street by one Alhaji Wahab Adamson It was learnt that Adamson fenced the area after a court ruling which vested on him ...

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Lagos land which appreciates by 50% in 12 months

Every society has its exclusive locations where those who are, socially and economically, out of the ordinary nestle their homes generally defined by sophistication, taste, class and luxury living. Nigeria has a fair share of such locations nurtured and sustained by its fast-paced urbanization, an exclusive class of the nuveau-riche and a growing clan of the middle class whose access ...

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FLOODING: Agbado Communities government intervention

The residents of Abule Oki and eight other adjoining communities in Agbado Oke-Odo Local Council Development Area of Lagos state have appealed to the state government to complete the dredging and concrete lining of the Aboru canal. According to them, the completion of the concrete lining of the Arigbanla canal has exposed, and put them at the mercy of a ...

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Property Tax in FCT approved by National Assembly

Significant reduction in construction activity in the FCT

The two chambers of the National Assembly have passed into law a bill which seeks the establishment of the Federal Capital Territory Internal Revenue Board. The bill, among others, empowers the Federal Capital Territory Administration to establish its own Internal Revenue Board which would have, among others, the legal powers to collect tax on property.According to the harmonised report of ...

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Lagos and Kano hit by Bird Flu

The Federal Ministry of Agriculture and Rural Development on Thursday announced that there had been unusual high mortality in two poultry farms and live bird markets in Kano and Lagos states. The ministry said the bird’s blood samples forwarded to the National Veterinary Research Institute tested positive for H5 Strain of Avian Influenza virus, otherwise known as bird flu, adding ...

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Two years after Badia demolition, families still seek compensation

Just like any other parent, Mr. Babatunde Ogunyemi’s aim has been to have family that would always be together to celebrate every festive period. For Ogunyemi, his joy has been to watch his children grow with high model of moral social values in them. Unfortunately, these wishes were cut short on February 23, 2013, when the Lagos State Government demolished ...

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Property destroyed by fire in Balogun market

In the early hours of Monday, January 12, the popular Balogun market in Lagos was said to been engulfed by a raging inferno that destroyed property worth thousands of Naira as the fire razed some shops in the market. Mr Ibramhim Farinloye who is the Spokesperson for the National Emergency Management Agency (NEMA) Southwest said “At 04:36 hours, there was ...

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Politicians sell property to raise funds for elections

In a desperate bid to raise funds ahead of February general elections, politicians seeking or sponsoring candidates for elective posts have started selling their property in major cities of the country such as Lagos, Abuja and Port Harcourt. According to a report by PUNCH, the development had crashed property market value as the politicians reduced the cost of their property ...

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Ikorodu-Mile12 BRT Extension to be completed in 1st quarter of 2015

The 13.5 kilometre Mile 12 to Ikorodu Bus Rapid Transit, BRT extension project which has reached 90 percent completion, will be delivered before the end of the first quarter of 2015. When completed, the project will have the capacity to move more than 300,000 passengers daily. This was disclosed to newsmen by the Managing Director of the Lagos Metropolitan Transport ...

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