FG and Foreign Airlines are Scheduled to Meet on Trapped Funds.
The International Air Transport Association, a worldwide airline trade group with headquarters in Switzerland, issued a warning on Sunday that…
Month: June 2023
As Saudi Arabia Reduces Production, OPEC Increases Nigeria’s Oil Supply.
On Sunday, OPEC+ members and non-members agreed to reduce crude oil production levels in order to maintain the stability of…
NLC Refuses to Attend a FG Meeting, and Electrical Workers Support Strike.
The Federal Government convened a meeting on Sunday to discuss the elimination of the fuel subsidy and the ensuing increase in fuel pump prices across the nation. The Nigeria Labour Congress refused to attend. The union emphasized that unless a legitimate team was assembled, it would not engage in any discussion with government representatives. However, representatives from the Trade Union Congress were present during the meeting, which was a follow-up to last week’s impasse-filled negotiations with the NLC at the Presidential Villa in Abuja. As the Bola Tinubu administration removed gasoline subsidies, the power workers promised to join the strike and cause a nationwide blackout in response. Hakeem Ambali, the NLC’s CentralTreasurer, confirmed the decision of the union to boycott the meeting which was a follow-up to…
Outgoing Parliament: Nigeria Spent $25 billion to Repair Refineries.
Nigeria spent more than 11.35 trillion naira ($25 billion) in the last ten years repairing its three inoperable refineries, according…
According to FIRS, Nigeria’s tax-to-GDP ratio is at 10.86%.
The Federal Inland Revenue Service (FIRS) Executive Chairman, Mr. Muhammad Nami, said yesterday that the nation’s tax-to-GDP ratio climbed to…
CLO: Nigeria’s Withdrawal of Gasoline Subsidies will Increase Cash in Sovereign Wealth Funds.
The withdrawal of gasoline subsidies, according to the Nigeria Sovereign Investment Authority’s chief investment officer, will increase the amount of…
Stock Investors Seek Change as Capital Flight Continues.
The effects of fiscal and monetary policies on the Nigerian equities market have raised concerns among stakeholders, despite the fact…
CBN Devalues the Naira to N631 per $1.
The Nigerian Central Bank depreciated the naira from N461.6 to N631 per US dollar. 48 hours after President Bola Ahmed…
FG Approves Nigerdock’s Multi-Billion Dollar Snake Island Port Expansion.
The federal government has given the go-ahead to Nigerdock, a service provider to the offshore oil and gas industry, for…
NNPC Increases Petrol Price to Between N488 and N557 Per Litre With End of Subsidy.
Yesterday, the Nigerian National Petroleum Company (NNPC) Limited increased the price of gasoline at the pump by about 200 percent…
Due to the liquidity shortage, the insurance business has shrunk by 7%, according to NBS.
The National Bureau of Statistics’ most recent data show that the insurance sector’s growth decreased by 7.25 percent in the…
NCAA Stakeholders Call for a 50% Energy Transformation.
Aviation stakeholders have urged the Nigerian Civil Aviation Authority to start working with other industry participants and governmental organizations to…
Exchange Rates Used by CBN may Increase Debt Loads, According to W’Bank.
David Malpass, the president of the World Bank Group, has issued a warning that Nigeria’s parallel exchange rate is detrimental…
Naira Increases on the Black Market and Reaches 750/Dollar.
The naira’s value versus the dollar increased at the parallel market, where it closed on Wednesday at N750 as opposed…
Amethis completes a second transaction for the Africa Europe Expansion Fund.
The first Amethis Europe Expansion close has been announced by Amethis and Edmond de Rothschild Private Equity. The Fund is…