Nigeria to Pay back $800million World Bank Loan for 25 Years.
The World Bank granted a loan of $800 million as a subsidy palliative, and the next administration, led by Major…
Year: 2023
FG Approves N23 billion for Roads and Third Mainland Bridge Repairs.
The Third Mainland Bridge in Lagos State will get a total of N23.33 billion in funding for surface maintenance. The…
IMF Calls on Nigeria to Increase Tax, Decrease Borrowing.
The International Monetary Fund (IMF) has once again advised Nigeria to intensify efforts to expand the tax base, raise taxes,…
Nigeria Signs an MoU to Upgrade the Aviation College.
The Nigerian College of Aviation Technology, Zaria’s profile as a top-tier training facility will be enhanced thanks to a Memorandum…
N’Assembly Demands Jail Time for Those Who Advocate Ponzi Schemes.
The Investment and Securities Bill, which might result in jail time for people in Nigeria who advocate Ponzi schemes, was…
FG Fines Oil Companies N22 billion for Gas Flaring.
The Federal Government will punish oil and gas companies operating onshore for flaring 24 billion SCF of gas between January…
FG Seeks to Eliminate Multiple Road Taxes and Promote Road Safety.
According to the Federal Government, it is attempting to do away with different road taxes in order to encourage the…
Despite Receiving N6tn in Subsidies, Fuel Prices have Increased by 81%.
According to National Bureau of Statistics figures analyzed by our correspondent, the cost of Premium Motor Spirit, also known as…
Railroad Employees are Enthusiastic about a 95% Pay Raise.
Com Segun Esan, the Secretary-General of the Nigerian Union of Railway Workers, highlighted the optimism of railroad workers regarding the…
IMF Advises CBN to Maintain a Strict Monetary Policy to Control Inflation.
The Central Bank of Nigeria (CBN) was given a recommendation by the International Monetary Fund (IMF) to continue tightening monetary…
Lawmakers Call Finance Minister, AGF, Others Over Whistleblower Policy, $2.4 Billion Illegal Crude Oil Sale.
The Attorney General of the Federation, Abubakar Malami, the Secretary to the Government of the Federation, Boss Mustapha, and the…
NAICOM Sets a Deadline for Insurers to Switch to IFRS 17 as a Finance Reporting Standard.
The Financial Reporting Standard (IFRS)17 will be used by Insurance Managers starting in June of this year, according to the…
Public Debt Stock Increased 4.96% to N46.25 trillion in Q4.
In the fourth quarter of last year (Q4 2022), the overall public debt stock of the nation climbed by 4.96…
A loss at Airtel Africa Sent the Stock Market Down N569 billion.
Profit-taking by investors in Airtel Africa Plc continued to rule the Nigerian stock market at the start of the week…
22 Nigerian Universities Receive a N5 billion Grant from AbdulSamad Rabiu.
The Abdul Samad Rabiu Africa initiative has disbursed a grant of N5.5 billion to 22 academic institutions in Nigeria. Each…
President Buhari Grants Ekiti Free Trade Zone Designation.
The Ekiti Knowledge Zone project of the Ekiti State Government has received approval from the President, Major General Muhammadu Buhari…
NPC will Spend Roughly N3 billion on Transmitting Census Data.
The NPC said in January that 786,741 functionaries would be educated for the census of 2023. However, the NPC recently…
Bitcoin Surpasses $30,000 as Speculators Anticipate an End to Rate Increases.
As investors increased their bets that the U.S. Federal Reserve will soon halt its aggressive monetary tightening campaign, major cryptocurrency…
NCAA Increases Airlines Penalty to N10 Million.
The maximum penalty for airlines is N10 million, while the minimum is N1 million, according to the Nigerian Civil Aviation…
SEC Moves to Prioritize the Updated Capital Market Master Plan.
The First Capital Market Committee meeting in 2023 will be dominated by the implementation of the updated master plan of…
Experts Stomp as 40 Presidential Panels Gulp N20bn
Between 2015 and April 2023, research revealed that over N20 billion was set aside for presidential committees under the Office…
According to NPA, Port Renovation will Cost $800 million.
Mohammed Bello-Koko, the managing director of the Nigerian Ports Authority, has provided an explanation for why the organization may spend…
PFAs Lower Pension Funds’ Bank Investments to N1.6 trillion.
The Contributory Pension Scheme’s funds invested in fixed deposits and bank acceptance were lowered by the Pension Funds Administrators to…
NBS: 5G Increased Foreign Investment in Telecoms by 325%.
Foreign investments in the telecom sector increased by 325.12% in 2022 as a result of increased 4G and 5G rollout.…
Nigerian Unemployment to Reach 41% in 2023, According to KPMG.
According to KPMG, the continued influx of job seekers into the labor market will cause Nigeria’s unemployment rate to soar…
Notwithstanding its 2060 Carbon Emission Pledge, Nigeria Resumes Coal Exploration.
The federal government has indicated that coal mining would resume in the nation despite its goal to achieve net-zero carbon…
The Petroleum Ministry Seeks Closer Cooperation with NIPSS for Knowledge Sharing.
The National Institute of Policy and Strategic Studies (NIPSS) and the Ministry of Petroleum Resources have committed to working together…
Russia Declares a 700,000 Bpd Reduction in Oil Production in March.
According to Bloomberg, Russia claims to have reduced oil production by 700,000 barrels per day in March, significantly more than…
NCAN: Cashew Production in Nigeria can Generate Over $2.7 billion Annually.
According to Mr. Joseph Ajanaku, President of the National Cashew Association of Nigeria (NCAN), Nigeria could earn about $2.7 billion…
Nigerians are to Grow Interest in Digital Payment Methods.
The implementation of the cashless policy may have had its problems, but the rising use of digital and electronic payment…