Aiteo-Nembe Dispute Threatens Nigeria’s Oil Production
Nigeria’s daily crude oil production, which currently stands at 1.5 million barrels per day, is at risk of declining due…
Category: Local
Company Income Tax Reduced By 12% In Q1
Nigeria’s Company Income Tax (CIT) revenue fell to N984.6 billion in the first quarter of 2024, marking a 12.87 percent…
Micro pension records mixed fortune as contributions decline
Despite a rise in the number of contributors to the micro pension fund, informal sector workers are reducing their contributions…
FG Seeks $500M World Bank Loan for Rural Roads and Agricultural Marketing Development
The Federal Government of Nigeria is pursuing a $500 million loan from the World Bank to enhance rural roads and…
We secured about $5.5 billion in bank loans to build Dangote Refinery – Aliko Dangote
Africa’s richest individual, Aliko Dangote, disclosed that his company secured approximately $5.5 billion in bank loans from domestic banks across…
Banking sector remains safe, CIBN assures customers
The Chartered Institute of Bankers of Nigeria (CIBN) has reassured bank customers of the stability and security of the Nigerian…
16 Directors Exit After Ex-Governor’s Misconduct Probe
Sixteen out of twenty-nine directors at the Central Bank of Nigeria (CBN) have been relieved of their duties, leaving only…
Company Income Tax Dips N135.4bn, VAT Grows N230bn In Q1
Nigeria’s Company Income Tax (CIT) has seen a significant decline, dropping to N984.61 billion in the first quarter of 2024,…
Uncertainty Clouds Nigeria’s Eurobond Plans
Nigeria’s plans to issue Eurobonds this year, a key strategy to strengthen government finances, are facing significant uncertainties. Initially announced…
Full text of President Bola Tinubu’s Democracy Day speech, June 12, 2024
TEXT OF PRESIDENT BOLA TINUBU’S NATIONAL BROADCAST ON THE 25TH ANNIVERSARY OF UNBROKEN DEMOCRACY IN NIGERIA, DEMOCRACY DAY 12TH JUNE…
Tolaram Splashes Over N100bn For Diageo’s 58.02% Stake In Guinness
Tolaram, a Singapore-based holding company, is set to acquire Diageo’s 58.02 percent stake in Guinness Nigeria for approximately N103 billion…
Price war on London route takes off as foreign airlines slash fares
Competition on the popular Lagos-London route has intensified, with foreign airlines significantly reducing fares. British Airways now offers economy class…
I Was Warned Against Building Refinery — Dangote
Aliko Dangote, the Nigerian billionaire behind the Dangote Group, recently spoke about the challenges of constructing Africa’s largest oil refinery…
Sacked CBN Employees Seek Reinstatement
A group of recently dismissed employees from the Central Bank of Nigeria (CBN) is challenging the manner of their termination,…
Zenith Bank Appoints Adaora Umeoji as First Female GMD/CEO
Zenith Bank Plc, a leader in Nigeria’s banking sector, has appointed Adaora Umeoji as its new Group Managing Director and…
Insurance sector charged on digital adoption to accelerate penetration
Enterprise Life Nigeria, a leading insurance provider, is calling for the industry to embrace digital adoption. Their CEO, Mrs. Funmi…
Food security: FG providing N200 billion to support the cultivation of hectares of land
The Secretary to the Government of the Federation (SGF), Sen. George Akume, announced that the federal government will allocat N200…
Police declare ‘fugitive’ First Bank employee, Tijani Muiz, ‘wanted’ over alleged N40 billion fraud
The Nigerian Police Force has declared Tijani, an employee of First Bank of Nigeria Limited, wanted for multiple offenses, including…
Australian authorities project loss of 250,000 jobs dependent on foreign students
Authorities in Australia have warned that new measures to limit international students could severely impact the $48 billion international education…
Freight services resume on Lagos-Kano narrow gauge railway
Freight services have resumed on the rehabilitated Lagos-Kano narrow gauge railway line, announced by the Minister of Transportation, Saidu Alkali,…
Chinese Construction Company Creates 10,000 Jobs in Abuja Rail Project
The China Civil Engineering Construction Company (CCECC) has revealed that it generated 10,000 jobs during the construction of the Abuja…
Nigerian Refineries Look to US Oil to Fill Domestic Supply Gap
Nigerian modular refineries, facing an unreliable domestic crude oil supply, are exploring imports from the United States. This comes as…
Minimum wage negotiations inconclusive, says Ajaero as presidency debunks N105,000 proposal rumour
With just days left before the expiration of the ultimatum given by organized labor, negotiations on the minimum wage remain…
Airtel Africa to pay N276 billion total dividend for 2023, chooses N1,485.99 as exchange rate for final dividen
Airtel Africa is set to pay a total dividend of N276 billion ($224 million) for the fiscal year ending March…
Mansard’s 704% profit surge masks core operational concerns
Despite a staggering 704% increase in pre-tax profits, a closer look reveals a need for improvement in core business operations…
Relief for households as cooking gas price falls to N900/kg
Households in Nigeria are celebrating a significant decrease in the price of Liquefied Petroleum Gas (LPG), also known as cooking…
Heritage Bank Depositors to Get Money Back Within a Week
The Nigerian Deposit Insurance Corporation (NDIC) has begun the process of reimbursing depositors of Heritage Bank, whose license was revoked…
FG Considers Duty Suspension and VAT Cuts to Fight Inflation
In an effort to combat inflation, the Nigerian government is proposing a six-month suspension of import duties on essential goods.…
FCMB Secures $15m Trade Finance Facility with ITFC
First City Monument Bank (FCMB) has entered into a $15 million Master Murabaha Agreement with the International Islamic Trade Finance…
FG Plans N6.6 Trillion Supplementary Budget under ASAP
The Federal Government is preparing to seek approval from the National Assembly for a N6.6 trillion supplementary budget to fund…