PENGASSAN Warns that Power Supply Crisis in Nigeria may Linger.
According to the Petroleum and Natural Gas Senior Staff Association of Nigeria, Nigerians who are hoping for better electricity supply…
Year: 2023
Nigeria’s April Oil Production Fell Below 1mln bpd.
Following a strike at Exxon Mobil’s local facilities, Nigeria’s oil production dropped below 1 million barrels per day (bpd) in…
FEC Authorizes Additional N129 billion for the Ogoni Remediation.
The Federal Economic Council authorized the expenditure of N129.8 billion for a number of projects within the Ministry of the…
NDDC Supports the Senate’s Proposal to look into N1tn Spending.
The Niger Delta Development Commission applauded the Senate for taking action to investigate the agency’s account from 2021 to 2022…
Nigeria Leaders Receive N651m Hardship Allowance.
According to research, state governors, including vice president Yemi Osinbajo, may have received around N651.2 million in hardship payments over…
CBN: Debt Servicing Hits $112m Monthly.
The Federal Government spent $112.35 million in January 2023 repaying external debt. According to information from the Weekly International Payments…
UN: Trade is Crucial for Implementing the 2030 Agenda.
Guy Ryder, the Undersecretary-General for Policy in the United Nations Secretary-General’s Executive Office, claims that trade is a crucial strategy…
Otedola Fumes Over Transcorp Deal.
Femi Otedola, a multibillionaire businessman, claimed on Tuesday that his offer to pay N250 billion for the Nigerian giant Transnational…
KCB Group Modifies its Investment in NSSF.
The National Social Security Fund (NSSF) sold shares valued at Sh837.2 million in the three months prior to December, according…
CBN Penalizes Shipping Companies that Export Illegal Cargoes from Nigeria.
CBN Governor, Godwin Emefiele, while speaking at the RT200 non-oil export summit 2023 in Abuja with the theme “RT200: Challenges…
Seplat is Mandated to have an Annual General Meeting by the Court.
The annual general meeting of the local energy company Seplat Energy Plc has been mandated by an Abuja-based Federal High…
The NCC Approves the Lease of NTEL’s Spectrum to MTN.
MTN Nigeria is given permission by the Nigerian Communications Commission to lease spectrum from Natcom Development and Investment Limited. The…
Fashola Reports that 383,431 Jobs were Created in Six Years.
Fashola said that from 2016 to 2022, 383,431 jobs were created through the government’s infrastructure renewal, with jobs being generated…
FG Orders Private Aircraft to Leave Abuja International Airport.
Prior to the new government’s anticipated May 29, 2023,inauguration, the Federal Airport Authority of Nigeria has ordered the immediate transfer…
IMF Cautions Nigeria that Foreign Loans will Decrease.
Nigeria has been forewarned by the International Monetary Fund to prepare for a substantial decrease in foreign loans as the…
CBN’s ‘RT200’ Strategy Increases Fund Repatriation by 40%, According to Emefiele.
Godwin Emefiele, the governor of the Central Bank of Nigeria, claimed that the bank’s ‘Race to USD200bn In FX Repatriation’…
Vantage Capital Buys Promamec Stake in Secondary Deal
A significant minority stake in Promamec will be acquired by Vantage Capital, the largest mezzanine fund manager in Africa, through…
Nigerian payment Startup Nomba Revealed it Secured $30 million in Pre-Series B Funding.
Base10 Partners, based in San Francisco (investors in Nubank, Plaid, and Brex), led the investment, which also included Helios Digital…
Reps Query NCC Over Multi-billion Naira USPF Projects.
The Nigerian Communication Commission (NCC) has been questioned by the House of Representatives regarding 1014 projects funded by the Universal…
Transcorp Power Receives a Discharge Certificate from Osinbajo.
According to Vice President Yemi Osinbajo, meeting Nigeria’s growing energy needs would require “serious” private sector investment in the country’s…
Dangote Refinery Set to Launch May 22nd.
There is new hope for Nigeria to increase its capacity for domestically refined fuel by 103.34 million liters per day…
Eight Banks Report Loan Losses at N502 billion.
Eight banks reported N502 billion in net impairment charges in 2022, in an effort to lessen the adverse effects of…
Purchasing Power Falls as FG Slams New Tax Law.
The federal government recently adopted a new tax law that was included in the 2023 Fiscal Policy measures and has…
Nigeria is Ready for Cashless Policy Due to Mobile Transaction Increase.
Economists interpret the recent surge in mobile transaction volumes as a sign that Nigeria is poised for a cashless economy.…
Nigeria, Others Need $7.5 billion to Deepen LPG Usage.
According to the African Refiners and Distributors Association, replacing charcoal with clean cooking gas, also known as liquefied petroleum gas,…
Nigerian Oil Production Falls for First Time in Seven Months.
Nigeria’s crude oil production fell by 38,102 barrels per day in March, a cumulative monthly loss of about 1,181,162 barrels,…
FG Advances Biometric Technology to Stop Illegal Mining.
The federal government, through the Ministry of Mines and Steel Development, stressed that collecting biometrics of registered artisanal and small-scale…
NIMC: E-identity is Critical to the Digital Economy.
A strong and secure e-identity system is crucial, according to Aliyu Abubakar, Director-General of the National Identity Management Commission, in…
UN Mobilizes N38 Billion for Nigeria’s Agriculture Sector .
In order to enhance Nigeria’s agriculture industry from 2023 to 2027, the United Nations will work with the federal and…
Nigeria’s World Bank Borrowing Hits $14.34 Billion In Q1 – Report.
Nigeria’s borrowing from the World Bank has reached $14.34 billion as of March 31, 2023. This is up from its…