An aviation expert has said Nigeria needs an additional 159 aircraft by 2042. Joep Ellers, Airbus…
Category: Business
Nigeria, Benin Republic collaborating to strengthen trade relations – NCS
The Nigeria Customs Service (NCS) says it is in collaboration talks with the Customs Service of…
Nigeria Air suspension: Aviation experts, CSOs mull next move
The Minister of Aviation and Aerospace, Mr Festus Keyamo few weeks ago opened a fresh page…
Nigeria records 148 crude oil theft incidents in Six days – NNPCL
The Nigerian National Petroleum Company Limited (NNPCL) said it documented 148 crude oil theft incidents between…
Nigeria’s revenue from postal services dropped to N3.01bn in 2022 – NBS
Nigeria’s revenue from postal services dropped by 17.05 per cent to N3.01 billion in 2022 from…
Afreximbank commits $40bn trade investment in Africa
African Export-Import Bank (Afreximbank) will double its intra-African trade financing to $40 billion by 2026. According…
FG mulls tax cuts over economic hardship
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, says…
FG delists 28 illegal digital money-lending apps (Full List)
The Federal Government has delisted 28 illegal digital money-lending apps to sanitize the sector. This was…
Nigeria’s founding chartered accountant, Akintola Williams dies at 104
Akintola Williams, a pioneer chartered accountant in Nigeria and Africa, is dead. The doyen of accounting…
NERC unveils Power Outage Reporting app
The Nigerian Electricity Regulatory Commission (NERC) has launched a Power Outage Reporting (PORS) app on Monday.…
Nigeria’s constitution should be amended to make it compulsory for govt agencies to submit yearly financial statements – Taiwo Oyedele
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, says Nigeria’s…
Nigerians don’t trust government – Tax Committee chair reveals reason for non-payment of taxes
Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has said…
Tinubu woos Volkswagen, other manufacturers back to Nigeria
President Bola Ahmed Tinubu, on the sideline of the G-20 summit in India, met with German…
FG has secured $163m AfDB loan for wheat production – Shettima
Vice President Kashim Shettima has disclosed that the African Development Bank (AfDB) has agreed to loan…
FG has secured $163m ADB loan for wheat production – Shettima
Vice President Kashim Shettima has disclosed that the African Development Bank (ADB) has agreed to loan…
Digitize operations to end forex crisis, bureau de change operators tell CBN
The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of…
Nigeria earned only N188.03m from cargo conveyed via rail transport in Q2 2023 – NBS
Nigeria earned only N188.03 million from goods or cargo conveyed through rail transport in the second…
Petrol, used vehicles, gas oil, Nigeria’s largest imports in Q2 2023 – NBS
Premium Motor Spirit, also known as petrol, used vehicles and gas oil, are Nigeria’s largest imports…
Petrol, used vehicles, gas oil, Nigeria’s largest imports in Q2 2023
Premium Motor Spirit, also known as petrol, used vehicles and gas oil, are Nigeria’s largest imports…
Petroleum oils, bituminous minerals, crude Nigeria’s largest exports in Q2 2023
Petroleum oils and oil obtained from bituminous minerals and crude are Nigeria’s largest exports in the…
EEDC expresses regret over power outage in Anambra
The management of the Enugu Electricity Distribution Company (EEDC) has expressed regret over the power outage…
NEGF mulls establishing regional rail transport, power generation companies
The North East Governors Forum (NEGF) said it is considering the establishment of an independent power…
Metered electricity customers in Nigeria increase to 5.47m in Q2 2023
Metered electricity customers in Nigeria increased to 5.47 million in the second quarter of 2023. The…
Global rice prices hit 15-year high in August – FAO
Global rice prices have increased to a 15-year high according to reports released in August. The…
Nigeria’s electricity supply marginally increased in Q2 – NBS
Nigeria’s electricity supply increased in the second quarter of 2023 to 5,909.83 GWh from 5,851.87 GWh…
DisCos’ total revenue generated hit N263bn in Q2 2023 – NBS
The total revenue collected by electricity distribution companies in Nigeria rose to N263.08 billion in the…
Commissioner charges BEDC to meter customers in Ekiti
Ekiti State Commissioner for Infrastructure and Public Utilities, Prof Mobolaji Aluko, has urged the Benin Electricity…
Naira gains, exchanges at N736/$1
The Naira on Thursday gained against the dollar, exchanging at N736.62 at the official window. According…
Nigeria earns N1.10bn from rail transport passengers in Q2 2023
Nigeria earned N1.10 billion from rail transportation passengers in the second quarter of 2023, the National…
Nigeria’s active internet subscribers rise to 157.5m in Q1 2023
Nigeria’s total active internet subscribers for the first quarter of 2023 hit 157,551,104 million, the National…
Nigeria’s telecom contribution to GDP hits 16% – NCC boss, Danbatta
The Executive Vice Chairman and Chief Executive Officer, EVC/CEO of the Nigerian Communications Commission, NCC, Prof…
Telecoms: Nigeria’s voice subscribers hit 222m in Q1 — NBS
Nigeria’s active voice subscribers in the telecommunications sector increased by 13.33 per cent to 226,161,713 in…
Nigeria records N12.7bn foreign trade in Q2 – NBS
Nigeria’s total foreign trade was N12.741.96 billion in the second quarter of 2023 according to the…
NNPCL denies opposing Oando’s acquisition of Agip
The Nigerian National Petroleum Corporation Limited (NNPCL) has debunked claims that it kicked against Oando PLC’s…
Nigeria’s energy market huge, attractive – Onuigbo urges investors
Sam Onuigbo, the Southeast representative on the governing board of the North East Development Commission (NEDC),…
G20 Summit: Tinubu meets industrialist Hinduja over foreign direct investment in Nigeria
President Bola Ahmed Tinubu, at the sideline of the ongoing G20 Summit in India, met with…
Nigeria Customs deactivate authorized dealer banks over defaults in duty remittances
The Acting Comptroller General of the Nigeria Customs Service, Bashir Adeniyi, has said the service had…
Experts blame forex, excise duty for electricity prepaid meters hike
Experts in the power sector have blamed the increase in prepaid electricity meters on fluctuations in…
Poverty eradication will reduce insecurity by 50% – Edu
Betta Edu, Minister of Humanitarian Affairs and Poverty Alleviation, said poverty eradication will reduce Nigeria’s insecurity…
Nigeria’s energy transition plan requires $10bn yearly investment – Tinubu
President Bola Tinubu says Nigeria’s energy transition plan will require an annual investment of $10 billion.…
Cattle sellers decry drop in sales after subsidy removal
Alhaji Sadiq Ibrahim, Chairman, Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Bauchi State, has decried…
Don’t Procrastinate – Tinubu tells Indian investors over $14billion investment pledge
President Bola Ahmed Tinubu has told Indian investors not to procrastinate over a $14 billion investment…
Indian investors pledge $14bn investment in Nigeria
President Bola Ahmed Tinubu says Indian investors have pledged $14 billion in direct investments in Nigeria.…
Multiple taxes will not allow economy to grow – NCC
The Nigerian Communications Commission (NCC) has declared that multiple taxes are an impediment to economic development…
Don’t Procrastinate – Tinubu tells Indian investors over $14 investment pledge
President Bola Ahmed Tinubu has told Indian investors not to procrastinate over a $14 billion investment…
NERC okays 40% price increase for meters
The Nigerian Electricity Regulatory Commission on Tuesday approved a 40 per cent upward review of unit…
Forex turnover hits $44bn in seven months on FMDQ
The foreign exchange turnover on the FMDQ stood at $44 billion (N22.98 trillion) between January and…
Tincan, Apapa Customs get new comptroller as CG redeploys senior officers
The acting Comptroller General of the Nigeria Customs Service (NCS), Adewale Adeniyi, has approved key appointments…
G20 Summit: Tinubu meets industrialist Hinduja over foreign direct investment in Nigeria
President Bola Ahmed Tinubu, at the sideline of the ongoing G20 Summit in India, met with…
Cut cost of governance, inflation, insecurity to halt economic hardship – Ekpo tells Tinubu
Prof. Akpan Ekpo, Chairman of the Foundation of Economic Research and Training, has urged President Bola…
Join FG to turn around Nigeria’s economy – VP Shettima tells financial experts
The Vice President, Kashim Shettima, has urged financial experts to join the government to improve Nigeria’s…
Our economic policies yielding results – VP Shettima
Vice President Kashim Shettima has said the economic policies of the Bola Tinubu administration are already…
AfDB commits $25bn to African climate fund – Adesina
Akinwumi Adesina, the President of the African Development Bank, said the bank has committed to providing…
Google appoints Alex Okosi as Managing Director in Africa
Google, a global technology company, has announced the appointment of a Nigerian-born, Alex Okosi, as its…
Nigeria earns N1.490trn from VAT in first half of 2023
Nigeria earned N1.490 trillion from Value Added Tax in the first half of 2023. The National…
NASENI EVC Haliru vows to boost Nigeria’s economy
The newly appointed Executive Vice Chairman of the National Agency for Science and Engineering Infrastructure (NASENI),…
Tinubu departs Abuja for G-20 Summit
President Bola Ahmed Tinubu, on Monday, departed Nigeria for India to attend the G-20 Summit upon…
Enugu govt to supplement LG funds by 60 per cent
The Government of Enugu State says it will augment funding for development projects by local government…
100 days in office: Tinubu’s policies divide financial experts
The first 100 days of President Bola Ahmed Tinubu’s administration have been laced with praise and…
FG generated N193.59bn from solid minerals in 2021 – NEITI
The Federal Government generated N193.59 billion from the solid minerals sector in 2021. The sector also…
Tinubu mulls partnership with tech firm for data accuracy, transparency
President Bola Tinubu has expressed support for partnerships with global technology companies to ensure that data…
Economy: FG to deepen collaboration with Japanese Government
The Federal Government on Monday pledged to deepen its existing bilateral diplomatic and economic ties with…
Oando PLC acquires Nigerian AGIP oil company
Oando PLC has announced an agreement with ENI over the 100 per cent acquisition of Nigerian…
NDIC boss Bello Hassan appointed vice-chairperson of IADI-ARC
The International Association of Deposit Insurers, African Regional Committee (IADI-ARC) has appointed the Managing Director and…
Nigeria’s Company Income Tax rises to N1.53trn in Q2 2023
Nigeria’s Company Income Tax, CIT increased by 226.40 percent N1.53 trillion in the second Quarter of…
Nigeria earns N781.35bn from VAT in Q2 2023
Nigeria’s Value Added Tax for the Second Quarter of 2023 grew marginally by 10.11 percent to…
NGX records N16.4trn gains in three months, trails Ghana Stock Exchange in performance
The Nigerian Exchange Limited (NGX) recorded N16.388 trillion gains from June to August 31. The development…
NGX records 16.4trn gains in three months, trails Ghana Stock Exchange in performance
The Nigerian Exchange Limited (NGX) recorded 16.388 trillion gains from June to August 31. The development…
BREAKING: Lagos Blue Rail Mass Transit commences commercial operations 40 years after
The Lagos State Government has commenced commercial operation of the Blue Line Rail Mass Transit years…
NEMSA allays fear of electricity consumers over meter upgrade
The Nigerian Electricity Management Services Agency, NEMSA, has assured electricity consumers using prepaid meters that units…
Solid minerals will contribute 50 per cent to nation’s GDP – Minister
The Minister of Solid Minerals Development, Mr Dele Alake says that solid minerals will contribute 50…
FG to set up taskforce against illegal miners
The federal government has unveiled plans to create a task force against illegal miners. The Minister…
Take currency swap with China seriously, reduce reliance on Dollar – Economist tells FG
An economist and the former Director General of the West African Institute for Financial and Economic…
FG’s Q1 2023 expenditure exceeds revenue by N1.4trn – CBN
The federal government’s expenditure exceeded its revenue by N1.43 trillion in the first quarter of 2023.…
Take currency swap with China seriously, reduces reliance on Dollar- Economist tells FG
An economist and the former Director General of the West African Institute for Financial and Economic…
Brent crude oil reaches over $88 per barrel, highest in eight months
Brent crude oil traded at an increased price of over $88 per barrel, the highest in…
DisCo laments loss of revenue over blackout in Anambra
The Enugu Electricity Distribution Company (EEDC) has lamented the loss of revenue due to days of…
NIPOST unveils N255 commemorative stamp
The Nigerian Postal Service has unveiled a N255 commemorating stamp to mark the Pan African Postal…
There’ll be efficiency in government expenditure under Tinubu administration – Edun
Wale Edun, Minister of Finance and Coordinating Minister for the Economy, says there will be an…
FG mulls review of N6trn annual tax waivers to increase revenue
Taiwo Oyedele, the Presidential Tax Reform Committee Chairman, says the federal government would review its tax…
Fuel price will drop to N200 per litre with functional refineries – IPMAN
Joseph Obele, the Chairman, Independent Petroleum Marketers Association of Nigeria, Rivers State Chapter has said the…
It’s fake – Elumelu debunks report of being penned down as CBN Governor
The Chairman of United Bank for Africa Group, Tony Elumelu has debunked reports making the rounds…
FAAN earns 60% revenue from Lagos – Keyamo
The Minister of Aviation and Aerospace Development, Festus Keyamo, has revealed that 60 percent of the…
CBN deputy governor Obiora reportedly arrested by DSS
Kingsley Obiora, the Deputy Governor of the Central Bank of Nigeria, has been reportedly arrested by…
Petrol consumption falls by 30% – NNPC
The Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, has revealed…
FG to clamp down on illegal miners to boost revenue generation
The Minister of Solid Minerals Development, Dele Alake, said he would clamp down on illegal miners…
NCAA suspends Xejet’s operating licence
The Nigeria Civil Aviation Authority, NCAA, has suspended the operating licence of Xejet Airlines over alleged…
Consider customers’ data protection as human right – Tijani warns banks, others
The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, has warned banks and other…
FG, States, LGs share N4.37trn FAAC allocations Jan-June 2023
The three tiers of government – the Federal, States and Local Government Councils (LGs), shared a…
BUA Cement holds FY2022 Annual General Meeting, aims to achieve 17 million MTPA capacity by Q1 2024
Abdul Samad Rabiu, Chairman of BUA Cement Plc, Nigeria’s second-largest cement company, announced during the BUA…
We won’t relent in revamping Nigeria’s economy- Tinubu tells NESG
President Bola Tinubu has said, with active collaboration with the private sector, he will not relent…
Aviation Minister Keyamo discontinues Nigeria Air project, cancels airport concession deals
The Minister of Aviation and Aerospace Development, Festus Keyamo, has suspended the controversial Nigeria Air Project…
Taskforce shuts down filling station in Jigawa for tampering with metre
A Petroleum Taskforce in Jigawa State has sealed the IMG filling station in Dutse for tampering…
FG to revamp steel sector for provision of job opportunities
The Federal Government said it would revamp the nation’s steel to benefit its economy. According to…
Tailors protest alleged extortion by Aba Power Limited
Tailors in Aba, the commercial hub of Abia State, on Wednesday staged a protest against alleged…
NRC monthly revenue drops from N500m to N1m
Engr. Fidet Okhiria, the Managing Director of the Nigeria Railway Corporation, NRC, says the monthly revenue…
Nigeria’s 4.1 per cent unemployment rate divides experts
Controversies have continued to trail Nigeria’s 4.1 per cent unemployment figure amid economic hardship occasioned by…
Lagos pays N2bn to 644 pensioners
The Lagos State Government says it has paid N2.017 billion in retirement benefits to 644 pensioners.According…
Mining University in Plateau will bring rapid economic development – Senator Plang
The Chairman of the Senate Committee on Employment and Productivity, Diket Plang has called for the…
NECA, NESG back Tinubu’s eight-point agenda
The Nigeria Employers’ Consultative Association, NECA, and Nigerian Economic Summit Group, NESG, have backed plans by…