Budget cuts, extend wait for retiree benefits
The reduction in the budget for pensions and retiree benefits in the 2024 budget has led to further delays in paying retirement benefits to Federal Government retirees and deceased employees.…
Agricultural research spending fails to boost farmer output
Despite the federal government spending N266 billion on agricultural research institutes over the past five years, farmers’ output remains low, according to findings by BusinessDay. The allocation averaged N53.2 billion…
Govt derisking power sector to attract investments– Verheijen
Olu Verheijen, President Bola Tinubu’s energy special adviser, has highlighted ongoing government efforts to reduce risks in the power sector to attract investments. Speaking at the 2024 CERAWeek by S&P…
CBN clarifies fertiliser donation as not new intervention
The Central Bank of Nigeria (CBN) clarified that the recent donation of 2.15 million bags of fertilisers to farmers is not a new intervention but a way to utilize existing…
Senate passes bill for NYSC Trust Fund
The Senate has approved a bill put forward by Senator Yemi Adaramodu (APC, Ekiti) to establish the National Youth Service Corps (NYSC) Trust Fund. This initiative aims to create a…
FG moves to address under-utilization of ports
Chief Adegboyega Oyetola, Minister of Marine and Blue Economy, emphasized the need for the federal government to fully support the Nigerian Ports Authority (NPA) in addressing factors hindering the optimal…
African Guarantee Fund to support green finance
The African Guarantee Fund (AGF) is teaming up with the Nordic Development Fund (NDF) to assist banks in enhancing their green portfolios, aligning with the Paris Agreement on Climate Change.…
LCCI raises alarm over soaring Inflation
The Lagos Chamber of Commerce and Industry (LCCI) has expressed deep concerns regarding the continuous rise in inflation, stating that it poses a significant threat to the economic welfare of…
SEC declines PZ Cussons request to buy out Other shareholders
PZ Cussons Nigeria’s plan to delist from the Nigerian Exchange Group (NGX) has encountered a hurdle, as the Securities and Exchange Commission (SEC) has rejected the company’s proposal for its…
Naira Strengthens To N1400/$ At Parallel Market
Parallel market operators are now quoting a buy price of N1400/$1 for individuals looking to sell dollars, indicating a significant strengthening of the naira. Investigations by Daily Trust suggest that…
Customs launches authorised economic operators programme
The Nigeria Customs Service (NCS) unveiled the Authorised Economic Operators (AEO) programme in Abuja on Wednesday, aiming to enhance ease of doing business and trade facilitation in the country. Comptroller-General…
CBN Clears Foreign Exchange Backlogs
The Central Bank of Nigeria (CBN) has announced the clearance of all valid foreign exchange backlogs, fulfilling a key pledge by CBN Governor, Mr. Olayemi Cardoso, to address an inherited…
NNPC Public Listing Is Within Sight, Says Kyari
Mele Kyari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, indicated during the CeraWeek Conference in Houston, United States, that the public listing of…
GTCO Food and Drink festival returns in 2024
The eagerly anticipated 7th edition of the GTCO Food and Drink Festival is set to take place from Friday, April 26th to Sunday, April 28th, at GTCentre, Victoria Island, Lagos.…
FBN Holdings appoints new directors under Otedola’s chairmanship
FBN Holdings, Nigeria’s oldest bank, has appointed three new directors for the HoldCo and two for the Bank, marking the start of Femi Otedola’s tenure as chairman of the holding…
Nigeria’s Economic Outlook Brightens As Brent Hits $86
Nigeria’s economic outlook has brightened with Brent crude oil prices surging to $86 per barrel, a significant increase from previous levels. The May delivery of Brent crude oil futures witnessed…
CBN lifts restrictions on milk and dairy imports
The Central Bank of Nigeria (CBN) has announced the lifting of restrictions on the importation of milk and dairy products. In a notice to commercial banks dated March 12, the…
Jim Obazee allegedly request N2bn from CBN Gov over assignment
The Chairman of the Special Investigative Committee, Jim Obazee, has reportedly requested N2 billion from the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, for various assignments. In…
Unchecked frequencies of foreign airlines in Nigeria, threat to ‘local operators’
Local airline operators in Nigeria are expressing concern over the number of daily flights, or frequencies, that foreign airlines are operating in and out of the country. They fear that…
Ali Pate to deliver keynote speech at NDFF 2024 conference
The Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, has been confirmed as one of the keynote speakers at the Nigeria Development and Finance Forum (NDFF) 2024…
Sudan’s Bashir moved to ‘secure military site’ – lawyer
Former Sudanese president Omar al-Bashir, represented by his lawyer Mohamed al-Hassan al-Amin, has been relocated from a hospital, where he has been receiving treatment since the outbreak of war in…
Suspected poachers killed in gunfire with Zimbabwe rangers
In a shootout near the Kazungula border post in Matabeleland North province, Zimbabwe rangers have fatally shot two suspected poachers. According to Tinashe Farawo, spokesperson for the Zimbabwe Parks and…
Nigeria launches mega solar plant to boost national grid
Nigeria has taken a significant step towards clean energy by signing a deal to construct a 20MW hybrid hydro-solar power plant, the first phase of a larger 300MW project. Located…
Prominent DR Congo journalist Stanis Bujakera freed
Prominent journalist Stanis Bujakera has been released from the notorious Makala prison in Kinshasa, Democratic Republic of Congo, despite authorities attempting to block his release. Bujakera had already served a…
Senegal President: “I did nothing wrong”
Senegal’s President Macky Sall has defended his decision to attempt to postpone elections, which triggered deadly protests in the country last month. In an interview with the BBC, President Sall…
IMF reaches agreement with Pakistan to disburse $1.1 billion
The International Monetary Fund (IMF) announced on Wednesday that it has reached a staff-level agreement with Pakistan. If approved by the IMF’s board, this agreement will result in the disbursement…
Tanker capsizes off coast of Japan, seven deaths confirmed
A South Korean-flagged chemical tanker named Keoyoung Sun has capsized off the coast of Yamaguchi prefecture in western Japan. According to the Coast Guard, the vessel requested assistance after 0700…
New Zealand government to ban disposable e-cigarettes
On Wednesday, the New Zealand government announced plans to implement stricter regulations on e-cigarettes, including banning the sale of disposable devices and increasing fines for retailers who sell to individuals…
PH refinery: Marketers eye fuel price reduction, ready to load
The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Major Energy Marketers Association of Nigeria (MEMAN) are anticipating a slight decrease in the pump price of Premium Motor Spirit…
South Africa: boat captain missing, search begins
South African authorities are intensifying efforts to locate missing charter boat captain John Matambu after his vessel, the Magnum Too, was found burned and abandoned on a beach in Mozambique.…