Local FG gets $600,000 relief fund from Gates Foundation September 27, 2024 Ekemini Uba The Nigerian government has received $600,000 from the Bill and Melinda Gates Foundation to help people affected by floods and to improve health and farming. This announcement was made when…
Business investment Local ExxonMobil Unveils $10bn Deepwater Investment Plan in Nigeria, Shettima Ecstatic September 27, 2024 Ekemini Uba The Nigerian government is working hard to bring more businesses and money into the country. Recently, ExxonMobil, a big oil company, announced it will invest $10 billion to help Nigeria…
Finance Local Cash transfer: FG releases N24bn to 991,261 households September 27, 2024 Ekemini Uba The Nigerian government has given out N24.78 billion to help 991,261 poor families across the country. This is part of a program to reduce poverty and help families with their…
Business Local SEC, NGX give Flour Mills approval for minority shareholders buyout September 27, 2024 Ekemini Uba Flour Mills of Nigeria (FMN), a big food company in Nigeria, has received approval from the Securities and Exchange Commission (SEC) and the Nigerian Exchange (NGX) to buy out smaller…
Business Local Petrol landing cost drops to N981/litre September 27, 2024 Ekemini Uba The landing cost of Premium Motor Spirit (PMS), also known as petrol, has dropped to N981 per litre, as of September 2024, down from N1,130 in previous weeks. This decrease…
Local Oil companies owe govt over $6bn – NEITI September 27, 2024 Ekemini Uba In Nigeria, oil companies owe a lot of money to the government—about $6.175 billion! This money is for things like taxes and fees they haven’t paid. Over the years, the…
Business Local Nigeria’s exports to six countries hit N8.88tn in Q2 – Report September 27, 2024 Ekemini Uba In the second quarter of 2024, Nigeria sold a lot of goods to six major countries: Spain, the USA, France, India, the Netherlands, and China. The total amount of these…
Business Local Trade Equity market halts gaining streak with N267bn loss September 27, 2024 Ekemini Uba On Thursday, the Nigerian Exchange faced a setback, losing N267 billion and ending its three-day rally. This drop was mainly due to losses from major companies like MTNN, Okomu Oil,…
Business Local Retirees park N798bn in pension for life September 26, 2024 Ekemini Uba Many people who have retired in Nigeria are saving their money in something called “life annuity.” This means they give a big amount of their retirement savings to an insurance…
Local Breaking: FG increases NYSC monthly allowance to N77,000 effective July 2024 September 26, 2024 Ekemini Uba The Nigerian government has decided to give more money to young people who are part of the National Youth Service Corps (NYSC). Starting from July 2024, they will now get…
Business Local Nigeria to widen tax net over revenue shortfall September 26, 2024 Ekemini Uba The Nigerian government wants to get more people and businesses to pay taxes. This will help the country get more money to take care of its citizens. The government has…
Business Local PENGASSAN to Fed Govt: increase stake in Dangote Refinery to 45% September 26, 2024 Ekemini Uba PENGASSAN, a group for oil and gas workers in Nigeria, wants the government to own more of the Dangote Refinery. Right now, the government owns only 7%, but PENGASSAN thinks…
Business Local Fed Govt okays N158b for Lekki Port service lanes September 26, 2024 Ekemini Uba The Nigerian government has approved a big project costing N158 billion. This project will build new service lanes, or extra roads, to make it easier for cars and trucks to…
Banking Local CBN boosts FX market with $20,000 to BDCs September 26, 2024 Ekemini Uba The Central Bank of Nigeria (CBN) has decided to help people and businesses get U.S. dollars more easily. They will sell $20,000 to each Bureau De Change (BDC) operator at…
investment Local ExxonMobil mulls $10b investment in Nigeria’s deep-water September 26, 2024 Ekemini Uba Nigeria’s economy is getting stronger because two big companies are planning to invest a lot of money in the country. ExxonMobil wants to spend $10 billion to work on oil…
Banking Business Local CBN sells dollars to BDCs at N1,590/$ September 26, 2024 Ekemini Uba The Central Bank of Nigeria (CBN) has decided to help people and businesses get more foreign money by allowing bureau de change (BDC) operators to buy dollars. They will sell…
Business Local Tinubu vows to restore federal authority amid economic challenges September 25, 2024 Ekemini Uba President Bola Tinubu’s government is working hard to strengthen Nigeria’s economy and improve security. To help with this, his administration is training government offices on how to prepare the 2025…
Business Local Oyetola promises zero piracy incidence in Nigerian waterways September 25, 2024 Ekemini Uba The Nigerian government is working hard to make sure its maritime agencies follow global standards, especially when it comes to safety. Minister of Marine and Blue Economy, Adegboyega Oyetola, emphasized…
Business Local FG explains minimum wage July 29 backpay September 25, 2024 Ekemini Uba The Federal Government has announced that payments for the new minimum wage will begin on July 29, 2024, following President Bola Tinubu’s approval. This decision was shared by the National…
Local CBN, banks sell $9.9bn as naira weakens to N1,670/$ September 25, 2024 Ekemini Uba In August 2024, foreign exchange turnover through Nigeria’s Autonomous Foreign Exchange Market surged to N15.74 trillion ($9.90 billion), a 33.88% increase from the previous month. This boost in trading was…
Business Local Domestic air fare rises 25% to N123, 700 in one month September 25, 2024 Ekemini Uba In August 2024, the average fare for air travel in Nigeria surged to N123,700.14, a sharp 25.51% increase from N98,560.28 in July 2024, and a 56.56% rise from N79,011.38 in…
Business PENGASSAN urges FG to increase stake in Dangote refinery to 45% September 25, 2024 Ekemini Uba The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the Federal Government to raise its stake in the Dangote Petroleum Refinery from the current 7%…
Business Local Nigeria’s unemployment rate rose to 5.3% in Q1 – Report September 25, 2024 Ekemini Uba Nigeria’s unemployment rate increased slightly to 5.3% in Q1 2024 from 5.0% in Q3 2023, with females facing higher unemployment at 6.2% compared to 4.3% for males, according to a…
Business Local Aviation stakeholders back Emirates on dollar airfares September 25, 2024 Ekemini Uba Aviation experts have expressed support for Emirates Airlines’ decision to charge Nigerian passengers in dollars, citing the airline’s dollar-denominated expenses and difficulties repatriating funds from Nigeria. Olumide Ohunayo, a member…
Business Local FG raises N2.75bn via savings bond September 25, 2024 Ekemini Uba The Federal Government’s savings bond for September 2027 has attracted successful subscriptions worth N2.75 billion, with a coupon rate of 18.20 per cent. The subscription period ran from September 2…
Business Local Legal implications of CBN’s 5% borrowing Cap: Agbakoba and Ozekhome weigh in September 25, 2024 Ekemini Uba Legal experts have examined the implications of the Central Bank of Nigeria’s (CBN) reaffirmation to maintain its Ways and Means Advances to the federal government at a 5% threshold for…
Africa Business South African Rand Appreciates by 11% Amid Economic Recovery September 25, 2024 Ekemini Uba As of September 25, 2024, the South African Rand (ZAR) has risen by 11% against the US dollar since February, following gains in key sectors like electricity and transport. The…
Business Local PZ Cussons cuts pre-tax losses by 86%, boosts revenue for period ending August 31 September 25, 2024 Ekemini Uba PZ Cussons Nigeria Plc reported a pre-tax loss of N5.2 billion in its interim financial statements for Q2 2024 (ending August 31, 2024). Despite the loss, this represents a notable…
Business Local Ethiopian Plans 10 weekly Flights To Rome, Celebrates Six Decades of Services September 24, 2024 Ekemini Uba Ethiopian Airlines has announced plans to expand its weekly flights to Rome, Italy, increasing the frequency to 10 flights per week starting December 1, 2024. This expansion coincides with the…
Local Car-Free-Day: Lagos, group, restate commitment to NMT infrastructure devt September 24, 2024 Ekemini Uba The Lagos State Government has announced its plans to integrate Non-Motorised Transport (NMT) infrastructure into its road planning and design as part of its commitment to promoting sustainable mobility. This…
