No fewer than 16 commercial vessels of various sizes berth in Calabar Port every month. The…
Category: Business
Tinubu inaugurates committee on tax reforms, names Oyedele as Chairman
President Bola Tinubu has approved the establishment of a Presidential Committee on Fiscal Policy and Tax…
Tinubu’s suspension of 2023 Finance Act highest level of political will – Prof Sanni
Prof Abiola Sanni, a don of Commercial Law at the University of Lagos, said President Bola…
Tinubu’s suspension of arbitrary taxes signals commitment to creating enabling environment – CPPE
The Centre for the Promotion of Private Enterprise, CPPE, has said President Bola Ahmed Tinubu’s suspension…
NNPCL eyes another $8bn international gas pipeline
The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari has announced that…
NNPLC eyes another $8bn international gas pipeline
The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari has announced that…
Fuel subsidy removal: IPMAN begins plans for gas-powered engines
The Chairman of Independent Petroleum Marketers Association of Nigeria, IPMAN, Edo State chapter, Comrade Douglas Iyike…
Electricity: Indigenous manufacturers kick against FG’s plans to use $155m World Bank loan to import metres
The Association of Meter Manufacturers and Assemblers Nigeria, AMMON, has kicked against the plan of the…
Expert warns Nigerians against diaspora investment through wrong channels
Amid economic challenges facing the Nation, a Financial expert has advised Nigerians in diaspora not to…
VAT Direct Initiative not for traders below N25m turnover – Ononuga
Lovette Ononuga, the director of Value Added Tax at Federal Inland Revenue Service, said its VAT…
PIA: FG to rake in revenue from fines, sanctions – MOMAN’s Chairman, Adeosun
The Chairman of the Major Oil Marketers Association of Nigeria has said the country would rake…
UNCTAD calls for support to close $4trn green energy investment gap in developing countries
Amid the raging energy crisis, the United Nations Conference on Trade and Development (UNCTAD) has called…
Nigeria targets N553bn from unremitted shipping taxes
The Federal Government says it intends to recoup over N553 billion in unremitted taxes from international…
Tinubu backs completion of Africa’s largest gas project worth $5bn
President Bola Ahmed Tinubu has said the Federal Government will support implementation of a $5 billion…
Telecoms investment in Nigeria worth $75.6bn – NCC EVC Danbatta
The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has…
FCCPC to investigate PoS vendors in Lagos over price fixing
The Federal Competition and Consumer Protection Commission (Commission) has said it would commence a probe of…
MSMEs will boost domestic, foreign investments under Tinubu’s administration – Perm Sec, Ngige
The Federal Government, on Tuesday, reiterated its commitment to reposition the Micro, Small and Medium Enterprises…
Fuel subsidy removal: Publish details of savings, provide palliatives for Nigerians – CTA tells Tinubu
Amid the uncertainties surrounding the savings from fuel subsidy removal and palliative to cushion its effects…
Rice, tomato, yam, other foods prices soar in May – NBS
Amid hardship caused by fuel subsidy removal, the prices of food items such as tomato, rice,…
Fuel subsidy removal, forex unification: We’re on track – Tinubu
President Bola Ahmed Tinubu has expressed confidence that his administration is on the path to success…
Naira appreciates by 3.61 per cent, exchanges at N741.50 against US Dollar
The Naira appreciated against the US dollar, exchanging at N741.50 at the investors’ and exporters’ window.…
Fuel subsidy removal: NNPCL to roll out electric vehicle charging ports
Amid the quest for a solution to the effect of fuel subsidy removal, the Nigerian National…
Katsina Gov, Radda orders implementation of TSA
Katsina State Governor, Malam Dikko Radda has commenced a Treasury Single Account (TSA). According to NAN,…
Fuel subsidy removal: ‘N400bn savings’ raises questions
After more than 30 days of fuel subsidy removal, the controversy surrounding the projected ‘N400 billion…
Tinubu govt announces plan to collect tax from market traders, informal sector
President Bola Ahmed Tinubu government has announced the Value Added Tax Direct Initiative to enable FG…
DMO announces two FGN savings bonds for subscription
The Debt Management Office (DMO) has listed two Federal Government of Nigeria (FGN) Savings Bonds for…
Tinubu assures investors of consistency in economic policies
President Tinubu has promised policy consistency and a good business climate for investment. Dele Alake, Special…
Inflationary pressures to ease by December – Economist, Yusuf
The Director of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf has said…
Hardship: What Tinubu’s administration must do for Nigerians – CPPE
Amid the raging challenges caused by fuel subsidy removal and foreign exchange reforms introduced by President…
Curb exploitative charges by banks – Financial expert tells CBN
Mr Okechukwu Unegbu, a financial expert, has called on the Central Bank of Nigeria (CBN) to…
Fuel subsidy removal: Nigeria’s inflation to hit 25 per cent in five months – World Bank
The World Bank has projected that Nigeria’s inflation would hit 25 per cent in the coming…
African Securities Exchange, AfDB eye $1.3 trillion market capitalization
African Securities Exchange Association aims at achieving $ 1.3 trillion Market capitalization through collaboration with African…
DisCo breaks silence on planned electricity tariff hike
Amid speculations of an electricity tariff hike from July 1, Ibadan Electricity Distribution Company (IBEDC) has…
AfDB has approved my $115m loan request for Abia – Ikpeazu claims
Former Governor of Abia State, Okezie Ikpeazu, has said African Development Bank, AfDB, has given final…
Don’t panic, no plans to increase fuel pump price to N700 – IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied the alleged plan by the association…
FCCPC reacts to complaints of inability to purchase electricity units amid tariff hike
The Federal Competition and Consumer Protection Commission, FCCPC, has reacted to consumer complaints under the Ikeja…
Why Naira is undervalued – Financial expert, Gbolade
Idakolo Gbolade, Chief Executive Officer of SD & D Capital Management, said one of the impacts…
First transhipment vessel arrives Lekki Port
The Lekki Deep Seaport has announced the arrival of Rimbaud, the first transhipment vessel to call…
Fuel Price: Ex-MOMAN boss cautions against speculation
A former Chairman of the Major Oil Marketers Association of Nigeria, MOMAN, Tunji Oyebanji has cautioned…
Why we increased PoS charges – Mobile money agents
Point of Sales, PoS operators have justified why their charges per transaction were increased. Stephen Adeoye,…
Fuel subsidy removal: FG saves N400bn in four weeks – Operators
Operators within the downstream oil and gas sector have said the federal government has racked in…
Forex disparity: God forbid that I participate in the arbitrage – Tinubu
President Bola Ahmed Tinubu has said he could have chosen to maintain the hitherto multiple foreign…
ICAN reacts as FG removes professional bodies, councils from budget funding
The Institute of Chartered Accountants of Nigeria, ICAN, has reacted to the federal government’s discontinuation of…
Microsoft Edge gets nearly 300m users after ChatGPT merger
After integrating ChatGPT, Microsoft Edge has accumulated nearly 300 million users, a worldwide browser market share…
Nigeria gets four varieties of wheat to boost local production
The Flour Milling Association of Nigeria has said four wheat varieties would be introduced to farmers…
Why prices of bread should not increase – Breadmiller President, Onuorah
A stakeholder within the breadmaking value chain has cautioned against an upward price review. The President…
CBN limits contactless payments to N50,000 daily
The Central Bank of Nigeria (CBN) has placed a N50,000 daily limit on contactless payments through…
FG removes professional bodies, councils from budget funding
The federal government has discontinued funding of professional bodies and councils with effect from 2026. The…
Subsidy removal, forex unification painful but key to growing Nigeria’s economy – World Bank
The World Bank has said the Federal Government’s subsidy removal and exchange rate unification policies remain…
More hardship looms for Nigerians as DisCos mull tariff increment
While the pains of fuel subsidy removal still linger, the confusion surrounding a planned electricity tariff…
Foreign exchange: Adopt multidimensional approach to end crisis – NECA tells FG
Nigeria Employers Consultative Association, NECA, has urged the Federal Government to adopt a multidimensional approach to…
There’s no approval yet – FG gives update on electricity tariff increment
The Federal Government has responded to claims of a purported electricity tariff increment on July 1.…
CBN’s move to obtain bank consumers’ social media handle unnecessary – NDPB
The National Commissioner of Nigeria Data Protection Bureau, Dr Vincent Olatunji has said it is unnecessary…
Experts raise concern as Nigerians abandon local foods for imported options
The Nigerian Institute of Food Science and Technology (NIFST), Western Chapter, has raised concern over the…
Exchange rate: DisCo announces electricity tariff increment
Abuja Electricity Distribution Company, AEDC, has announced the new tariff increment in the Federal Capital Territory,…
Nigeria’s debt servicing cost rose to 1.24trn in Q1 2023
Amid worries about Nigeria’s increasing debt burden, the country’s debt servicing cost has risen by 55.71…
CBN, Bill Gates to partner on financial inclusion
The Central Bank of Nigeria, CBN, and the Bill and Melinda Gates Foundation, BMGF, have pledged…
Withdraw regulations on bank customers’ social media or face legal action – SERAP to CBN
The Socio-Economic Rights and Accountability Project, SERAP has urged the Central Bank of Nigeria, CBN to…
Nigeria’s total debt stock rises to 49.85trn in March 2023 – DMO
The Debt Management Office has said Nigeria’s total foreign debt for March 31, 2023, has risen…
Subsidy removal: FG provides power supply for over 700 households, businesses in Danchitagi
The Rural Electrification Agency, REA, said it had provided power supply to over 700 households and…
Tinubu applauds AfDB’s $520m investment in Nigeria’s agro industries
President Bola Ahmed Tinubu has applauded an investment of $520 million in specialised agro-processing zones by…
NPA resuscitates comatose 2.4m gallons daily Apapa water works
The Nigerian Ports Authority, NPA, has resuscitated the 2.4 million gallons per day Apapa Water Works.…
Again Naira drops against Dollar, exchanges at N765.13
The Naira depreciated against the Dollar on Thursday at the investors and exporters window, exchanging at…
DMO gives Tinubu conditions to meet before borrowing
The Debt Management Office, DMO, has listed conditions President Bola Ahmed Tinubu should meet before borrowing.…
Multiple taxation: FIRS partners with MATAN for VAT remittance from informal sector
The Federal Inland Revenue Service (FIRS) has partnered with the Market Traders Association of Nigeria (MATAN)…
Naira drops against US dollar, exchanges at N763.17
The Naira on Wednesday depreciated against the US dollar at the investor’s and exporters’ window, exchanging…
Electricity power supply increases to 5,852Gwh in Q1 2023 – NBS
The National Bureau of Statistics said power supply in Nigeria increased in the first quarter of…
Electricity customers rise to 11.27m amid looming tariff hike
Amid a planned tariff hike in July, the National Bureau of Statistics (NBS) said the number…
PIA: No overlap between NMDPRA, NUPRC – Ahmed clarifies
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has clarified that there is no overlap…
Enugu residents groan over electricity tariff hike
Residents of Enugu State have expressed concern over the proposed 40 per cent hike in electricity…
NIMASA not for generating revenue – Ex-DG Dosunmu speaks on merger plan
Dr Ade Dosunmu, former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) has said…
Subsidy removal: NEITI to probe controversial 66.8m litres daily fuel consumption figure
The Nigeria Extractive Industries Transparency Initiative, NEITI, has stated that it has begun steps to probe…
Naira appreciates against dollar
The Naira on Tuesday appreciated against the dollar at the Investors and Exporters window, exchanging at…
Subsidy: Likelihood of increase in storage, freight, others will arise – ANLCA warns
The Association of Nigerian Licensed Customs Agents (ANLCA) says there is a likelihood of increase in…
NEPZA attracts $346.6m foreign direct inflow to govt in 4 years
The Nigeria Export Processing Zones Authority (NEPZA) says it has attracted $346.6 million in Foreign Direct…
Investors at NGX make N8bn marginal gains amid Tinubu’s forex reforms
Amid the foreign policy reforms by President Bola Ahmed Tinubu’s administration, investors at the Nigerian Exchange…
NECA reveals solutions to unemployment, hardship to Tinubu
The Nigeria Employers’ Consultative Association (NECA) has revealed what President Bola Ahmed Tinubu’s administration must do…
It’s unfair – ICPC faults Transparency International’s corruption index
The chairman of the Independent Corrupt Practices and Other Related Offences Commission, ICPC, Prof. Bolaji Owasanoye,…
Naira falls against US dollar, exchanges at N770 amid Tinubu’s forex reforms
Amid the foreign exchange reforms by President Bola Ahmed Tinubu’s administration, the Naira on Monday depreciated…
Electricity tariff increase, 7.5 per cent VAT on petrol unsettles Nigerians
For many Nigerians, the first 22 days of President Bola Ahmed Tinubu’s administration have been ‘bitter-sweet.’…
Data Protection Act: Banks, telcos to lose 2% revenue for breaches – NDPC CEO Olatunji
The National Commissioner and CEO of the Nigeria Data Protection Commission (NDPC), Dr Vincent Olatunji, has…
CBN gives update on foreign exchange market, lifts restriction
The Central Bank of Nigeria, CBN, has announced further policy changes. According to the Director of…
Fuel subsidy hardship: Economists offer Tinubu urgent solutions
Financial experts have listed what the federal government must do to boost the country’s external reserves…
Nigeria’s mining cadastre 100% online – Nkom
The Nigeria Mining Cadastre Office (MCO) has said it is 100 per cent online compliant to…
Abia IRS disclaims fake revenue touts
The Abia State Internal Revenue Service (AIRS) has alerted the public that the ban on e-ticketing…
Foreign Exchange unification, electricity act solves 45 per cent problems – Enemuo
An expert in the production sector and a manufacturer, Mr Christopher Enemuo has said the unified…
IMF backs CBN on foreign exchange unification
The International Monetary Bank has backed the Central Bank of Nigeria in unifying its foreign exchange…
Nigeria Mining Cadastre generated N18bn in four years – DG, Nkon
The Director General of Nigeria Mining Cadastre Office (MCO), Mr Obadiah Nkon, said the office increased…
Anambra eyes N160bn revenue from palm oil, coconut investment
Anambra State Government hopes to rake in more than N160 billion yearly from ongoing palm oil…
Electricity Act 2023 Tinubu’s palliative to Nigerians – Manufacturers
The Manufacturers Association of Nigeria, MAN, has said signing the Electricity Act 2023 by President Bola…
Naira drops against dollar, exchanges at N702.19
Amid the liberation of the foreign exchange market by the Central Bank of Nigeria, CBN, the…
Naira floating: Nigeria’s revenue to rise by 200 per cent – Economic expert, Chizea
Following the Naira floating and the liberation of the foreign exchange market by the Central Bank…
Cooking gas: Marketers attribute price decrease to international market forces
The President of the Nigeria Liquefied Petroleum Gas Association (NLPGA), Mr Nuhu Yakubu, has attributed the…
Countries waste trillions of dollars on subsidies – World Bank
The World Bank said trillions of dollars wasted on subsidies for agriculture, fishing and fossil fuels…
Nigeria’s inflation rises to 22.41%
Nigeria’s inflation has risen to 22.41 per cent, according to a new figure by the National…
Nigeria reclaims spot as largest oil-producing country in Africa
Nigeria has regained its position as the largest oil producer in Africa, displacing Angola, according to…
CBN abolishes RT200 Rebate, Naira4Dollar Remittance
The Central of Nigeria has announced the cessation of the RT200 Rebate and the Naira4Dollar Remittance…
Naira drops against dollar after CBN grants banks freedom to trade forex
Naira on Wednesday depreciated against the dollar at the Investors and Exporters window, exchanging N664.04 to…
CBN confirms operational changes to foreign exchange market
The Central Bank of Nigeria, CBN, has confirmed the operational changes to the foreign exchange market.…
CBN: Bold step – CPPE reacts to unification of exchange rate
The Centre for the Promotion of Private Enterprise, CPPE, said the unification of foreign exchange rate…