ABUJA — President of the African Development Bank (AfDB), Akinwumi Adesina, has said, the fact that the country’s tax to gross domestic product (GDP) ratio is low does not justify the incessant tax increase. He indicated that although the country’s tax to gross domestic product (GDP) ratio is at 6.1 percent, the FG must exercise restraint in tax increment. The AfDB boss said this on Tuesday in Abuja while delivering a lecture at the 51st...

LAGOS — The bulls returned to the Nigerian stock market on Tuesday with investors’ net worth appreciating by N102 billion on bargain hunting. The bullish performance was due to investors’ buy interest in industrial goods, consumer goods, and oil & gas sector stocks. Specifically, the market capitalization rose by N102 billion to close at N20.266 trillion from N20.164 trillion recorded on Monday. Also, the All-Share Index increased by 195.30 points or 0.50 percent to close...

The Debt Management Office (DMO), on Wednesday, announced the auctioning of three Federal Government bonds of N150 billion at N1, 000 per unit. Details obtained from DMO’s website said that the three bonds were valued at N50 billion each, with interest rates of 16.29 per cent; 12.50 per cent, and 9.80 per cent, respectively. It listed the auction date as April 21, while the settlement date is April 23. “Minimum units for sale are N50,...