A recent report has revealed that up to 98% of Nigerians operating in the informal economy pay taxes daily, with some businesses paying taxes 3 times a day. In Lagos, for instance, some bus drivers pay as much as N3,000 a day in taxes to different groups.
The market capitalization of the top five banks, referred to as the Tier-1 banks decreased to N2.43 trillion at the close of business, on Friday, August 6, 2021, as investors in these banks lost N31.56 billion during the trading week, making it the second consecutive week FUGAZ stocks have closed negative.
Nigeria has been unable to deepen the penetration and utilization of Liquefied Petroleum Gas (LPG) in the country despite theoretically being in a position to produce sufficient LPG to meet local demand.
