FG’s borrowing from CBN rises by 96.54%, hits N18.16tn
The Federal Government’s total borrowing from the Central Bank of Nigeria through Ways and Means Advances has risen by 96.54…
Category: Local
Cross River decries N34m federal allocation for March
The Cross River State Government received only about 15 per cent of its statutory allocation from the Federation Account in…
Buhari mourns US Secretary of State Madeleine Albright
The President, Major General Muhammadu Buhari (retd.), has joined the world to mourn the passage of the United States’ first…
Nigerians need to consume, export what they produce -Emefiele
The Central Bank of Nigeria says Nigerians need to consume what they produce and export the surplus after adding value…
Customs, CBN disagree over e-valuation of imports, exports
THE Nigerian Customs Service has refuted media reports which claimed that the service has adopted the e-evaluator and e-invoicing for…
IOCs fear collapse as FG says N1.36tn crude stolen in 14 months
The total value of Nigeria’s crude oil stolen between January 2021 and February 2022 is about $3.27bn (representing N1.361tn at…
Capital imports in Q4 2021 increases to $2.187m
According to a statement obtained from NBS website, when compared to the corresponding quarter of 2020, capital importation increased by…
Foreign Airlines’ Trapped Funds In Nigeria Hit N117bn
From $147 million (N61 billion) which the International Air Transport Association (IATA) said was the total foreign airlines’ fund trapped…
MTN Names New COO For Nigeria, Appoints Others
MTN Company President and CEO Ralph Mupita remarked, “Today’s announcement reflects the depth of ability within the group, as well as the strength of our succession planning.” Hassan Jaber takes over as MTN Nigeria’s Chief Operating Officer (COO) following Mazen Mroue’s recent appointment as MTN Group Chief Information and Technology Officer. Jaber moved from MTN Irancell where he serves as COO, bringing with him some 25 years of telecoms…
How CBN is stabilising Naira –Emefiele
In his virtual goodwill message at the opening of the 32nd Seminar for Finance Correspondents and Business Editors in Akure,…
FG disburses N142.6m to 14 tertiary institutions for mineral research
Mr. Olamilekan Adegbite, the Minister of Mines and Steel Development (MMSD), announced on Tuesday that N142.6 million had been distributed…
6.4 million applied for N-Power Batch-C programme –FG
Sadiya Farouq, Minister of Humanitarian Affairs, Disaster Management, and Social Development, revealed on Tuesday that the Federal Government received 6.4 million applications for its N-Power Batch-C youth empowerment scheme. N-Power is a federal government initiative launched in June 2016 to combat young unemployment and promote social development. She told…
Energy crisis: MAN bemoans power crisis, high cost of diesel
As Nigeria’s energy crisis continues to buffet businesses across the country, the Manufacturers Association of Nigeria (MAN) has urged the…
FG will continue to boost business reforms, private sector investment, says Osinbajo
Yemi Osinbajo has said Federal Government will continue to partner with the private sector to ensure wholesome national development. He…
Russia-Ukraine: Nigerian banks not under any major risk, says S & P
The ongoing Russia-Ukraine conflict will have no major negative impact on the overall operations and assets quality of Nigerian banks.…
Buhari summons Gov. Uzodinma, Power Minister, Economic Adviser
President Muhammadu Buhari on Monday summoned Governor Hope Uzodinma of Imo, Minister of Power, Abubakar Aliyu, and his Chief Economic…
FG scraps PCR test for fully vaccinated travellers
The Federal Government announced on Monday that fully vaccinated inbound travelers will no longer be needed to perform a pre-departure PCR COVID-19 test. The FG stated, however, that they will be subjected to a free quick antigen test at the airport by the NCDC in the arrival hall. Many travelers had complained about the high cost of the PCR test, prompting the decision. He added that passengers who are unvaccinated or partially vaccinated are mandated to take a COVID-19 PCR…
Buhari inaugurates 3m metric tonnes Dangote Fertiliser Plant
The President, Major President, Major General Muhammadu Buhari (retd.), has inaugurated the three million metric tonnes Dangote Fertiliser Plant in…
OPEC+ Compliance Jumped To 136% In February, Say Delegates
Compliance among deal-bound members of the Organisation of Petroleum Exporting Countries (OPEC) and allies OPEC+ rose to 136 per cent…
Stakeholder: CBN’s $250m Intervention in Discos’, TCN Interface Will Stabilise Power Grid
The intervention of the Central Bank of Nigeria (CBN), in the rehabilitation of interfaces between Nigeria’s transmission and distribution infrastructure…
FAAC meets today as NNPC deductions threaten states’ allocations
The planned deduction of N242.53bn fuel subsidy from the Federation Account this month by the Nigerian National Petroleum Company Limited…
CBN to meet NNPC, finance ministry over petrol scarcity
The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, on Monday said that the management of the apex would…
Massive oil thefts threatening external reserves, revenue – MPC
The Monetary Policy Committee of the Central Bank of Nigeria on Monday decried the negative impact of the increasing oil…
Buhari inaugurates Lagos intl airport terminal today
The President, Major General Muhammadu Buhari (retd.), is to inaugurate the newly built international terminal of the Murtala Muhammed Airport,…
FG commends SON for topping the rating index in ease of doing business
The Federal Ministry of Trade and Investment has commended the Standards Organisation of Nigeria, SON, for coming as the topmost…
Nigeria: Reforms in Agro-Export, Proceed Repatriation Take Shape Albeit At Slower Pace
The federal government’s drive to provide a conducive environment for businesses appeared to have gained traction but at a slower…
FG’ll tap $2.2bn Eurobond for fuel subsidy funding– Minister
Crude oil production drops as Nigeria misses OPEC quota again The FG is planning to tap $2.2bn by this month…
Reps go after 77 oil firms over unremitted N2.6tn revenue
The House of Representatives commenced an investigative hearing on the N2.6tn owed the Federal Government by 77 oil companies operating…
CBN to Introduce Bank Cash Hubs, Releases Guideline
The Central Bank of Nigeria has released a draft guideline for the registration and operation of Bank Neutral Cash Hubs…
Lagos airport, three others to get concessionaires next week
The Federal Government has finalized plans to announce approved concessionaires for the quadrupling of Lagos, Abuja, Port Harcourt, and Kano…