Politics
Senate Passes Amended Tax Reform Bill After Months of Deadlock
Nigeria's upper chamber passed the long-stalled tax reform legislation Thursday, paving the way for changes that economists say could reshape how businesses are taxed.
PoliticsBy People's News Editorial Team
Lagos Governor Announces Free Bus Routes Linking Island to Mainland
Governor Babajide Sanwo-Olu announced three new free bus rapid transit routes connecting Lagos Island to the mainland, a move he said would reduce commute times by up to 40 percent for residents in affected corridors.
Lagos Governor Babajide Sanwo-Olu on Wednesday announced three new free bus rapid transit routes as part of the state's ambitious mass transit expansion, targeting commuters who cross between Lagos Island and the mainland daily.
The routes will run from Obalende to Ikeja, from Marina to Oshodi, and from CMS to Mile 2, with dedicated lanes on major arteries. The governor said fares would be subsidized entirely from the Lagos Internally Generated Revenue pool for the first 18 months.
"We know what commuters go through every morning. This is not a temporary fix," Sanwo-Olu said at the announcement ceremony in Alausa.
Transport analysts welcomed the announcement but flagged the dedicated lane implementation as the critical test. Previous BRT expansions have been undermined by enforcement gaps that allow private vehicles into bus lanes.
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Business
Naira Gains Ground Against Dollar as Oil Output Climbs
The naira strengthened to 1,540 per dollar on Thursday as Nigeria's oil production hit a six-month high, easing pressure on the central bank's foreign exchange reserves.