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.
BusinessBy People's News Editorial Team
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.
Nigeria's naira posted its strongest single-day performance in three months on Thursday, gaining 2.3 percent against the dollar to trade at 1,540 at the official NAFEM window.
The move coincided with data from the Nigerian Upstream Petroleum Regulatory Commission showing oil output climbed to 1.62 million barrels per day in June, the highest level since December.
For the diaspora: If you are planning to send money home, analysts at Lagos-based Chapel Hill Denham say the naira could consolidate in the 1,500 to 1,560 range over the next two weeks, suggesting the current window is relatively favorable for remittances. Watch for the Central Bank of Nigeria's next rate decision on July 23.
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Diaspora
UK Home Office Tightens Nigerian Student Visa Rules: What You Need to Know
New guidance from the UK Home Office targets dependent applications linked to Nigerian student visas. Here is a plain-language breakdown of what changes, what stays the same, and what to do if you have an application in progress.