Investors Demand Insurance and Pension Growth.
The necessity to expand the insurance and pension sectors has been discussed by financial sector stakeholders. They spoke on the…
Category: Local
Contributory Pension Assets Increased by N1.68 trillion in a Year.
The Contributory Pension Scheme’s assets increased by N1.68 trillion, from N13.76 trillion at the end of February 2022 to N15.45…
Reps Seek Compulsory 5 Year service to Nigeria by Doctors before Going Abroad.
The House of Representatives has approved a bill in second reading that would limit the number of medical and dental…
Obasanjo: The Next Administration must Work to End Ethnic Division in Nigeria
Olusegun Obasanjo, a former president, believed that the future administration would have its work cut out for it in terms…
Rewane: Two US Banks’ Collapse Will Squeeze Funding for Nigerian Fintechs, Startups.
According to Mr. Bismarck Rewane, the Managing Director/Chief Executive Officer of the Financial Derivatives Company Ltd (FDC), the failure of…
UBA Plans to Sell Abuja Disco to Repay a $122 million Debt.
In order to recoup a $122 million debt that the Disco owes it, the United Bank for Africa has made…
World Diesel Prices are Declining as the Economic Recession gets Worse.
As the economy sputters, additional refineries start operating, and exports from Russia are rerouted and replaced by fuel from the…
$800m W’Bank Support: NECA Requests that Repairing Refineries Be Given Priority Over Sharing Palliatives.
The Nigeria Employers’ Consultative Association (NECA) has urged the federal government to fix the nation’s paralyzed refineries before sharing $800…
Reps are Looking into Claims that NNPCL Officials Diverted N20 billion.
The Nigerian National Petroleum Corporation Limited is the subject of an investigation by an ad hoc committee established by the…
World Bank: The Value of the Naira Decreased by 10% in 2022.
The World Bank estimates that in 2022, the value of the naira fell by 10.2%. This occurred at a time…
LCCI: The Increase of Nigeria’s Public Debt Deeply Concerns Us.
The Lagos Chamber of Commerce and Industry (LCCI) is concerned about Nigeria’s national debt, which will expand exponentially between 2013…
Nigerias’ Financial Crisis Lowers Productivity in the Private Sector.
In March 2023, the private sector of the Nigerian economy saw productivity steadily decline as a result of the country’s…
Senate Debates Buhari’s Request for a N9.6 billion Refund to Plateau and Borno.
Ahmad Lawan, the President of the Senate, requested that the Senate Committee on Foreign and Local Loans take into account…
Senate Indicts NNPCL for Withholding Information on N102 billion.
The Nigerian National Petroleum Corporation Limited (NNPCL) was indicted by the Senate for failing to submit information on the crude…
NCDMB Opens a N7 billion Pipe Manufacturing Facility.
The groundbreaking ceremony for a N7 billion pipe manufacturing facility at Polaku, Bayelsa State, was conducted by Engr Simbi Wabote,…
Nigeria’s Poor Oil Output will Impact OPEC+ Supplies.
According to a Reuter article, Nigeria and Angola are to blame for the OPEC oil output being one million less…
Broadband Subscribers Increase Consistently, Reaching 92.6 Million in February 2023.
According to data given by the Nigerian Communications Commission (NCC), Nigeria’s broadband subscribers increased steadily over the course of a…
Subsidy Removal: FG to Disburse $800 million to 50 million Nigerians.
According to Finance Minister Zainab Ahmed, Nigeria has received $800 million from the World Bank to expand its national social…
FEC Approves N392.786bn Contracts for Works Ministry, Customs, and Other.
The Federal Executive Council (FEC) adjourned meeting in Abuja after approving a number of contracts worth a combined N392.786 billion…
Fashola: Second Niger Bridge to be Opened May 15.
According to the Federal Government, the second Niger bridge would be completely accessible to traffic on May 15. This was…
Nigeria FG Implements 180 Business-friendly Reforms.
More than 180 reforms have been implemented by the Presidential Enabling Business Environment Council with the goal of making Nigeria…
African Development Bank Approves $525,000 Grant for Fintech Companies.
A grant of $525,000 has been authorized by the African Development Bank for an online digital hub that will act…
Nigerian Stock Market Draws $19.2 Billion in Investment Over Five Years.
According to a National Bureau of Statistics research, the Nigerian stock market drew a total of $19.2 billion (N8.83 trillion)…
Foreign Capital Imports Fall to $5.32 billion in 2022 from $1.06 billion in Q4.
Capital inflows decreased by 8.53 percent, from $1.15 billion in the previous quarter to $1.06 billion in the fourth quarter…
37 FG Agencies are Charged in a Recent Audit Report.
The Panel on Public Accounts indicted 37 Ministries, Departments, and Agencies for financial procedure violations as the Senate began debating…
Nigeria: Maritime Operators will Receive $700 million for Vessel Acquisition.
The Federal Government has said operators in the maritime sector may get about $700m to acquire new vessels. At least…
Buharis Administration Recommends Salary Increases after Eliminating Fuel Subsidies.
According to Labour Minister Chris Ngige, the outgoing government in Nigeria has advised the next administration of President-elect Bola Tinubu…
Nigeria Approves a New Chinese Bank for a Railway Project.
Following the withdrawal of another Chinese lender from the Kaduna-to-Kano rail project in 2020, the Nigerian Senate has accepted China…
The Federal Government Cancels Benue’s N84 billion Debt.
In order to discharge its debts of N84 billion, the Benue State Government said it had engaged into a debt…
As OPEC+ Reduces Output, the Price of Oil Increases.
After the voluntary production reduction by Organization of Petroleum Exporting Countries (OPEC) members and OPEC allies, collectively known as OPEC+,…