FG gets $600,000 relief fund from Gates Foundation
The Nigerian government has received $600,000 from the Bill and Melinda Gates Foundation to help people affected by floods and…
Year: 2024
ExxonMobil Unveils $10bn Deepwater Investment Plan in Nigeria, Shettima Ecstatic
The Nigerian government is working hard to bring more businesses and money into the country. Recently, ExxonMobil, a big oil…
Cash transfer: FG releases N24bn to 991,261 households
The Nigerian government has given out N24.78 billion to help 991,261 poor families across the country. This is part of…
SEC, NGX give Flour Mills approval for minority shareholders buyout
Flour Mills of Nigeria (FMN), a big food company in Nigeria, has received approval from the Securities and Exchange Commission…
Petrol landing cost drops to N981/litre
The landing cost of Premium Motor Spirit (PMS), also known as petrol, has dropped to N981 per litre, as of…
Oil companies owe govt over $6bn – NEITI
In Nigeria, oil companies owe a lot of money to the government—about $6.175 billion! This money is for things like…
Nigeria’s exports to six countries hit N8.88tn in Q2 – Report
In the second quarter of 2024, Nigeria sold a lot of goods to six major countries: Spain, the USA, France,…
Equity market halts gaining streak with N267bn loss
On Thursday, the Nigerian Exchange faced a setback, losing N267 billion and ending its three-day rally. This drop was mainly…
Retirees park N798bn in pension for life
Many people who have retired in Nigeria are saving their money in something called “life annuity.” This means they give…
Breaking: FG increases NYSC monthly allowance to N77,000 effective July 2024
The Nigerian government has decided to give more money to young people who are part of the National Youth Service…
Nigeria to widen tax net over revenue shortfall
The Nigerian government wants to get more people and businesses to pay taxes. This will help the country get more…
PENGASSAN to Fed Govt: increase stake in Dangote Refinery to 45%
PENGASSAN, a group for oil and gas workers in Nigeria, wants the government to own more of the Dangote Refinery.…
Fed Govt okays N158b for Lekki Port service lanes
The Nigerian government has approved a big project costing N158 billion. This project will build new service lanes, or extra…
CBN boosts FX market with $20,000 to BDCs
The Central Bank of Nigeria (CBN) has decided to help people and businesses get U.S. dollars more easily. They will…
ExxonMobil mulls $10b investment in Nigeria’s deep-water
Nigeria’s economy is getting stronger because two big companies are planning to invest a lot of money in the country.…
CBN sells dollars to BDCs at N1,590/$
The Central Bank of Nigeria (CBN) has decided to help people and businesses get more foreign money by allowing bureau…
Tinubu vows to restore federal authority amid economic challenges
President Bola Tinubu’s government is working hard to strengthen Nigeria’s economy and improve security. To help with this, his administration…
Oyetola promises zero piracy incidence in Nigerian waterways
The Nigerian government is working hard to make sure its maritime agencies follow global standards, especially when it comes to…
FG explains minimum wage July 29 backpay
The Federal Government has announced that payments for the new minimum wage will begin on July 29, 2024, following President…
CBN, banks sell $9.9bn as naira weakens to N1,670/$
In August 2024, foreign exchange turnover through Nigeria’s Autonomous Foreign Exchange Market surged to N15.74 trillion ($9.90 billion), a 33.88%…
Domestic air fare rises 25% to N123, 700 in one month
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…
PENGASSAN urges FG to increase stake in Dangote refinery to 45%
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the Federal Government to raise its…
Nigeria’s unemployment rate rose to 5.3% in Q1 – Report
Nigeria’s unemployment rate increased slightly to 5.3% in Q1 2024 from 5.0% in Q3 2023, with females facing higher unemployment…
Aviation stakeholders back Emirates on dollar airfares
Aviation experts have expressed support for Emirates Airlines’ decision to charge Nigerian passengers in dollars, citing the airline’s dollar-denominated expenses…
FG raises N2.75bn via savings bond
The Federal Government’s savings bond for September 2027 has attracted successful subscriptions worth N2.75 billion, with a coupon rate of…
Legal implications of CBN’s 5% borrowing Cap: Agbakoba and Ozekhome weigh in
Legal experts have examined the implications of the Central Bank of Nigeria’s (CBN) reaffirmation to maintain its Ways and Means…
South African Rand Appreciates by 11% Amid Economic Recovery
As of September 25, 2024, the South African Rand (ZAR) has risen by 11% against the US dollar since February,…
PZ Cussons cuts pre-tax losses by 86%, boosts revenue for period ending August 31
PZ Cussons Nigeria Plc reported a pre-tax loss of N5.2 billion in its interim financial statements for Q2 2024 (ending…
Ethiopian Plans 10 weekly Flights To Rome, Celebrates Six Decades of Services
Ethiopian Airlines has announced plans to expand its weekly flights to Rome, Italy, increasing the frequency to 10 flights per…
Car-Free-Day: Lagos, group, restate commitment to NMT infrastructure devt
The Lagos State Government has announced its plans to integrate Non-Motorised Transport (NMT) infrastructure into its road planning and design…