NLNG Witnessing Insufficient Gas Supply – FG
The Federal Government said that the existing trains of the Nigeria Liquefied Natural Gas company are witnessing insufficient gas supply, noting that this is why NLNG trains cannot produce at…
CBDC Research To Intensify As 80% Of Central Banks Mull Projects Similar To ENaira
According to the Global Index retail in 2022 CBDC projects have reached greater maturity levels than wholesale projects. Research indicates more than 80% of central banks around the world are…
Subscribers Groan as Telecoms Operators Begin Deactivation of SIM Cards Not Linked to NIN
About 37 million telecoms subscribers across all networks have been affected by the recent order given to telecoms operators. The federal government authorized the deactivation of all SIM cards that…
Food imports exceed exports by N2.23tn in 12 months
The total international trade in agricultural goods in the country stood at N3.24tn in 2021, with the import value exceeding export value by N2.23tn, findings have revealed. Despite interventions by…
Shell demands $1.15bn outstanding cash-calls, other debts
Managing Director of SPDC and Country Chair, Shell Companies in Nigeria, Mr. Osagie Okunbor, stated this in his presentation at the 2022 Society of Petroleum Engineers(SPE) Oloibiri Lecture Series and…
UK prevents use of private jet linked to Russian oligarchs
British transport minister Grant Shapps said on Saturday he has prevented the use of another private jet that has links to Russian oligarchs. We won’t stand by and watch those…
Fed Govt new borrowings rise by 278.03% in six years
The Federal Government’s new borrowing allocations rose by 278.03 per cent or N4.03tn between 2015 and 2021. This was disclosed in the presentation of the public debt data as of…
Nigeria issues new travel guidelines on COVID-19
A new international travel guideline has been issued by the Presidential Steering Committee (PSC) on COVID-19, removing mandatory Polymerase Chain Reaction (PCR) testing for fully vaccinated visitors and stiff penalties…
FG grants three-year tax relief to 33 companies, bars 10 firms
The Federal Government approved the application of 33 companies seeking pioneer status under the Industrial Development Income Tax Act in 2021. This was contained in the quarterly PSI reports released…
CBN imposes heavy sanctions on banks over mutilated notes
The Central Bank of Nigeria has expressed concern over the increasing amount of mutilated banknotes deposited with the apex bank by Deposit Money Banks. To this end, the CBN has…
77.1 million identity numbers issued as NIN-SIM registration ends today
The National Identity Management Commission (NIMC) has issued 77.1 million unique National Identification Numbers (NIN) in the country. This new milestone was attained on March 21. It comes as the…
US Embassy in Abuja begins interview waiver for visa renewals
The United States Embassy in Abuja says it will begin processing certain non-immigrant visa renewal applications without requiring an interview starting from March 30, 2022. The Embassy’s Senior Public Affairs…
World Bank suspends Nigerian firm, MD for bribery
THE World Bank has sanctioned SoftTech IT Solutions and Services Ltd., a Nigerian information technology solutions company, and its Managing Director, Mr Isah Kantigi, for alleged corrupt practices. The firm,…
Russia-Ukraine war: Oil hits $114, OPEC laments seven million bpd loss
Brent, the crude against which Nigeria’s oil is priced, moved up in price to $114/barrel as at 4.34pm Nigerian time on Wednesday, rising by $3.72 or 3.37 per cent when…
Ogun launches N900m fund for business
OGUN State government has launched a N900m loan programme for Micro, Small and Medium Enterprises operating in the state. This was revealed by the Commissioner for Industry, Trade, and Investment,…
Police salary increment: Reps summon minister, accountant general, others
The House of Representatives’ Committee on Police Affairs has invited the Minister of Finance, Budget and National Planning, Zainab Ahmed; and the Accountant-General of the Federation, Ahmed Idris, over the…
NAICOM bars undercapitalised insurers from new businesses, orders claims settlements
The National Insurance Commission has stopped some insurance firms from taking new businesses. It also placed a limit on the transactions some of them can underwrite based on the level…
Poor Nigerians to hit 95.1m in 2022, says World Bank
THE World Bank has said that poverty reduction stagnated since 2015, with more Nigerians falling below the poverty line over the years. The President, Major General Muhammadu Buhari (retd.), was…
Exports to India in Q4 2021 valued at N875 billion – NBS
In a statement obtained from the National Bureau of Statistics (NBS), the largest exported commodity to India was petroleum oils and oils obtained from bituminous minerals crude (N774.5 billion). This…
Marketers disagree with depot owners over petrol price hike
THE Independent Petroleum Marketers Association of Nigeria has criticised private depot owners over the recent increase in the pump price of Premium Motor Spirit, also known as petrol, in some…
Ukraine resumes evacuations after Russian ‘provocations’
Ukraine said Tuesday it had reopened humanitarian corridors and evacuated civilians from war-scarred regions after a one-day pause over what Kyiv called possible Russian “provocations”. “Three humanitarian corridors were agreed…
In China’s Shanghai, Bankers And Traders Sleep In Offices To Beat Covid Lockdown
More than 20,000 bankers, traders and other workers are bedding down in office towers in Shanghai’s Lujiazui district as they bid to keep China’s giant financial hub ticking over through…
JUST IN: NRC suspends train operations along Abuja-Kaduna route indefinitely
The Nigerian Railway Corporation has suspended train operations along the Abuja-Kaduna route indefinitely. The NRC made this known in a post via its official Twitter handle @Official_NRC on Tuesday morning.…
HURIWA condemns Buhari’s silence on Kaduna airport, rail attacks
The Human Rights Writers Association of Nigeria on Tuesday condemned what it described as the silence of the President, Major General Muhammadu Buhari (retd.), on the attacks of terrorists on…
Buhari, govs, others congratulate Tinubu at 70
The President, Major General Muhammadu Buhari (retd.); the President of the Senate, Ahmad Lawan; Speaker of the House of Representatives, Femi Gbajabiamila; Deputy Speaker, Ahmed Wase; and some state governors…
Russia-Ukraine war: Soaring shipping costs may worsen inflation in Nigeria, others, IMF warns
THE International Monetary Fund has said rising shipping costs as a result of the ongoing war between Russia and Ukraine may worsen inflation in Nigeria, and other nations in the…
Telcos warn of disruptions in 11 states over Kogi’s clampdown
THE Kogi State Government through its Kogi State Internal Revenue Service agency has shut down a number of critical telecommunications sites in the state in a bid to force telecom…
‘Infrastructure funding deficit to hit $100b
Nigeria’s infrastructure funding deficit will grow to $100 billion in the next five years, the Infrastructure Concession Regulatory Commission (ICRC), has said. ’ICRC Acting Director-General, Michael Ohiani made this known…
FG establishes SDGs innovation hubs to boost states’ social financing
The Vice President, Prof. Yemi Osinbajo, on Monday, announced the establishment of six Sustainable Development Goals innovation hubs by the Federal Government in each geopolitical zone in Nigeria to help…
Fed Govt to reduce wheat importation
The Federal Government (FG) plans to deploy measures to reduce wheat importation into the country. Government said it anticipated that shortfall of wheat supply in the country can be bridged…