Nigeria’s total pension asset achieved an N3.36 trillion gain in 2023. The National Pension Commission, PenCom,…
Category: Business
DisCos received N99.94bn out of N133.3bn worth of electricity consumed in November 2023 – NERC
The Nigerian Electricity Regulatory Commission, NERC, says N99.94 billion was received by 11 electricity Distribution Companies,…
Forex crisis, naira freefall: Tinubu moves crude oil sales revenue from NNPCL to CBN
Amid the continued foreign exchange crisis in Nigeria and the freefall of the Naira, President Bola…
CBN warns Forex dealers against deliberate attempts to create price distortions
The Central Bank of Nigeria, CBN, has accused Authorised Dealers in the foreign exchange market of…
Blackouts over gas shortage spark fresh concerns in Nigeria’s failing power sector
Blackouts in parts of Nigeria due to a gas supply shortage to generation plants have sparked…
Naira hits historic low, tumbles massively against US dollar at forex market
The Naira tumbled massively, falling to a historic low of N1,348.63 against the US Dollar in…
Ekiti cargo airport will commence operation by July – Oyebanji
Governor Biodun Oyebanji of Ekiti State has disclosed that the cargo airport in the state will…
Dangote refinery looks to US for crude oil import – Bloomberg
Dangote refinery is set to import crude from the US in the coming months, Bloomerg reports.…
CBN announces injection of fresh $500m to clear forex backlog
The Central Bank of Nigeria, CBN, has announced that it is injecting another $500 million to…
Dangote Refinery operations will reduce Nigeria’s revenue by 3% – NIMASA
The Nigerian Government says the commencement of production at Dangote Refinery will reduce the country’s freight…
Mining companies owing us trillions of naira – Nigerian govt
The Nigerian government has declared that it is being owed trillions of naira in unpaid royalties…
Nigeria’s manufacturers mull fresh price hike over freefall of Naira at forex
Nigeria’s manufacturers project fresh hikes in the prices of commodities in the market in response to…
Subsidy: NNPCL justifies non-remittance of fund into Federal Account
The Nigerian National Petroleum Company Limited, NNPCL, has revealed why it remitted literally zero funds to…
Nigeria’s maize, rice price to rise by 25, 40 per cent in 2024 – AFEX
Nigeria’s maize and paddy rice prices are projected to rise by 25 and 40 per cent,…
What Nigerian government must do to stabilize Naira – Experts
Financial experts have advised the federal government under President Bola Ahmed Tinubu on what to do…
Countries must act fast to phase out fossil fuels – UN
António Guterres, the United Nations Secretary-General, says countries worldwide must act towards phasing out fossil fuels.…
UNRWA: Several countries suspend $490m funding amid staff involvement in October 7 attack
More than eight countries have suspended funding to the United Nations Relief and Works Agency, UNRWA,…
Tinubu not recruiting ‘area boys’ to collect tax – Oyedele
Taiwo Oyedele, the Chairman of the presidential committee on Fiscal Policy and Reforms, says the federal…
Why electricity supply dropped nationwide – Power Minister Adelabu explains
The Minister of Power, Adebayo Adelabu, has opened up on why electricity supply is reduced nationwide.…
NCAA suspends Mattini Airline’s permit over Ibadan crash-landing
The Nigeria Civil Aviation Authority, NCAA, has suspended the Permit for Non-Commercial Flight, PNCF, of Mattini…
Naira records gain against US dollar at forex market
The Naira has appreciated against the US dollar, closing the week on an impressive note at…
Court orders YEDC to pay damages for unlawful disconnection in Taraba
The Taraba State High Court, in Jalingo, the state capital, on Friday mandated the Yola Electricity…
Nigerian Govt unveils plans to leverage Audience Measurement System for economic growth
The Nigerian federal government has unveiled plans to leverage the Audience Measurement System, AMS, to strategically…
Miners back Nigerian govt’s clampdown on illegal mining
The licensed and legal coal miners in Kogi State have backed the federal and state governments…
How Nigerian Govt will achieve N19.4trn revenue target in 2024 – FIRS
The Nigerian federal government has announced that it will ramp up revenue generation and achieve its…
Naira depreciates massively against US dollar at foreign exchange market
The Naira depreciated significantly against the US dollar at the foreign exchange market on Thursday. Data…
NGX records marginal growth rate as ASI appreciates by 0.57%
The Nigerian Exchange Limited recorded a marginal growth rate as the All-Share Index appreciated by 0.57…
Domestic transactions in NGX increase to 3.167trn in 2023
Nigerian Exchange Limited’s total value of domestic transactions hit N3.167 trillion in December 2023, up from…
Nigeria-Morrocco Gas Pipeline: FG, Morocco in talks to expedite project
The Nigerian government has intensified discussions with the Kingdom of Morocco to fast-track the Final Investment…
Why there’s a drop in Nigeria’s power supply – TCN
The Transmission Company of Nigeria, TCN, has blamed gas constraints on thermal generating companies for the…
Nigeria’s national grid controlled by TCN collapsed 46 times in six years – Report
Nigeria’s national power grid managed by the Transmission Company of Nigeria, TCN, collapsed 46 times from…
NGX crosses historic 100,000 points as ASI appreciates by 3%
The Nigerian Exchange Limited achieved a historic mark as the All-Share Index crossed 101,571.11 points, appreciating…
Naira tumbles against US dollar at foreign exchange market
The Naira depreciated against the US dollar at the foreign exchange market on Wednesday. Data from…
Edo govt spends N58 billion on roads in 2023
Edo State Government says it spent a total of N58 billion for the construction of 565…
NDIC, others to spend over N8.7bn on software in 2024
Three government agencies, the Nigeria Deposit Insurance Corporation, NDIC, the Federal Inland Revenue Service, FIRS, and…
NIS gives update on automated issuance of Nigerian passport
Nigeria Immigration Service, NIS, has given an update on automated passport issuance, saying all applicants still…
Nigeria’s inflation will drop to 21.4 per cent in 2024 – CBN
The Central Bank of Nigeria says the country’s inflation will drop to 21.4 per cent in…
Saudi Arabia to open first alcohol store in capital – Report
Saudi Arabia is planning to open its first alcohol store in the capital, Riyadh, according to…
Why petrol pump price will fall in 2024 – CBN governor
Central Bank of Nigeria, CBN, Governor, Yemi Cardoso, has said the pump price of petrol will…
FG to sell five power plants at $1bn – BPE
The Federal Government plans to sell five power plants in Nigeria under the National Integrated Power…
Nigeria’s oil-producing states receive N57.915bn as 13% oil derivative revenue – FAAC
Nine oil-producing states in Nigeria received N57.915 billion as 13 per cent derivative from mineral revenue…
Yobe Assembly passes LGs’ 2024 harmonized budget
Yobe State House of Assembly has passed the 2024 local government areas’ harmonized budget of N71,167,000,000.00…
FAAC shares N1.1trn to federal, state, local governments
The Federation Account Allocation Committee shared N1.1 trillion in December 2023 to the federal, state, and…
IPMAN tackles NNPCL over delay in fuel supply
The Independent Petroleum Marketers Association of Nigeria, IPMAN, has tackled the Nigerian National Petroleum Company Limited,…
Naira appreciates massively against US dollar at forex market
The Naira appreciated massively against the US Dollar at the foreign exchange market on Tuesday. Data…
US interested in doing business in Nigeria – Blinken
U.S. Secretary of State, Anthony Blinken has reiterated the Americans commitment to investing in Nigeria’s economy.…
PENGASSAN rejects planned sales of Shell, ready to embark on strike
The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has rejected the planned sale…
Bureaux de change operators seek reversal of ban on forex rates display
The Association of Bureaux de Change Operators of Nigeria, ABCON, is seeking a review of the…
IPMAN blames NMDPRA for petrol products price hike
The Independent Petroleum Marketers Association of Nigeria, lPMAN, has blamed the Nigerian Midstream and Downstream Petroleum…
Incessant price hike may undermine success of subsidy removal – IPMAN
The Independent Petroleum Marketers Association of Nigeria, lPMAN, says continual hike in price of petroleum products…
We are engaging Dangote refinery for direct supply of products – PETROAN
The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN says it is engaging the management…
Dangote Refinery announces IPMAN, MOMAN, DAPMANN as product distributors
Dangote Refinery has announced that it has registered members of the Independent Petroleum Marketers Association of…
Nigerian exchange market appreciates by 1.31%
The Nigerian Exchange Limited has continued this year’s bullish run as the All-Share Index appreciated by…
CBN to increase banks’ capital base to N907bn – Report
The Central Bank of Nigeria has been projected to raise the minimum capital requirement for commercial…
Naira tumbles again against US dollar at forex market
The Naira has tumbled further against the US dollar in the foreign exchange market. Data from…
Nigerians languish in poverty as inflation rises unfettered under Tinubu
Nigeria’s untamed inflation rates have become persistent nightmares for the citizens. President Bola Ahmed Tinubu’s reign…
Average price of cooking gas increases by 8.70% annually – NBS
The average price of 5kg of Liquified Natural Gas, LNG, also known as cooking gas, increased…
Japa: British Council in Nigeria announces fees increase for IELTS
The British Council in Nigeria has increased the fees for taking the English Language Testing System,…
NNPCL gives details on $3.3bn loan from Afriximbank
Following the mounting concerns on the $3.3 billion loan secured for the Nigerian Government by the…
Enugu DisCo announces date to commence TID rollover
The Enugu Electricity Distribution Company has announced that it will commence Token Identifier, TID, rollover by…
Nigerian govt berths largest container vessel
The Nigerian Government has berthed the largest container vessel on Lekki Deep Seaport. The Nigerian Port…
Why Nigeria trails behind Botswana, Morocco in Real Estate investment – Report
Nigeria trailed behind Botswana and Morocco regarding foreign direct investment in the real estate sector because…
Despite NGX’s growth under Tinubu, many Nigerians are poorer – Ndubuisi Ekekwe
A United States-based innovator and tech entrepreneur, Prof Ndubuisi Ekekwe, says while the Nigerian Stock Exchange…
Kano Internal Revenue Service debunks sacking eight directors
The Management of the Kano State Internal Service has not only debunked sacking eight of its…
Govt agency to investigate Shell’s pipeline oil spill
The Nigerian Oil Spill Detection and Response Agency, NOSDRA, has said it will investigate a crude…
Naira depreciates against US dollar at forex market
The naira depreciated marginally in the foreign exchange market on Friday.Data from FMDQ showed that the…
14 firms record $346.71bn profits from fossil fuel in 12 months – Report
Fourteen fossil fuel companies in 24 months made profit windfalls of $346.713bn, data by ActionAid has…
Abuja: AEDC announces blackout in Gwarimpa
The Abuja Electricity Distribution Company has announced a power outage in Gwarimpa, the Nation’s capital. The…
Internet Access lifts 7% Nigerians from extreme poverty – World Bank
The World Bank says improved access to internet coverage in three years led to a seven…
World of cashew nut business in Enugu community: How women make fortune
Obollo-Afor, the headquarters of Udenu Local Government Area in Enugu State is known for production of…
Customs generates N1.13bn in Katsina
The Katsina Area Command of the Nigeria Customs Service, NCS, says it generated more than N1.132…
CBN announces first MPC meeting under Cardoso
The Central Bank of Nigeria has released its first Monetary Policy Committee 2024 schedule under its…
Interior Minister, Tunji-Ojo gives update on Fire Service recruitment exercise
Minister of Interior, Olubunmi Tunji-Ojo, has given an update about the ongoing recruitment of federal fire…
Aviation workers support relocation of FAAN headquarters to Lagos
Aviation workers have reacted to the announcement made by the Federal Airports Authority of Nigeria, FAAN,…
Centre demands resignation of CBN Gov as naira continues free fall
The Centre for Social Justice, Equity, and Transparency, CESJET, has asked the Governor of the Central…
PETROAN welcomes NNPCL’s call for private oil firms to run Port Harcourt Refinery
The Petroleum Product Retail Outlet Owners Association of Nigeria, PETROAN, says it is a positive development…
Minimise administrative bottlenecks in your support to us – Gov Buni to World Bank
Yobe State Governor, Mai Mala Buni has urged the World Bank to minimise administrative bottlenecks in…
Nigerian Govt permits DisCos to purchase electricity directly from producers
The Federal Government has given Electricity Distribution Companies, DisCos, in Nigeria the nod to buy electricity…
No increment in electricity tariff – Kaduna Electric informs customers
A power distribution company, Kaduna Electric, says electricity tariff remains unchanged within its franchise areas. The…
Nigeria’s non-oil exports decline to $4.5bn in 2023 – NEPC
The Nigerian Export Promotion Council, NEPC, says the country’s worth of non-oil exports declined to $4.5…
TCN gives reason for power outage in three states
The Transmission Company of Nigeria, TCN, says the electricity outages in parts of Gombe, Yola and…
Forex crisis: Foreign airlines repatriate N795.5bn from Nigeria in six months
Foreign airlines repatriated N795.5 billion from Nigeria in six months, according to data from the Central…
Nigerian govt gives GSK approval to exit NGX
The Nigerian federal government, through the Security and Exchange Commission, SEC, has approved the request by…
Naira bounces back against US dollar at forex market
The Naira has recorded significant gains against the US dollar in the foreign exchange market. Data…
We relocated headquarters to Lagos in Nigeria’s best interest – FAAN
The Federal Airports Authority of Nigeria (FAAN) on Thursday said that it relocated its corporate headquarters…
ICPC, FIRS move to tackle tax frauds
The Independent Corrupt Practices and Other Related Offences Commission, ICPC, and the Federal Inland Revenue Services,…
Nigerian govt to partner private sector in job creation – Labour minister
The Federal Government says it is committed to actively engaging the private sector to ignite a…
Kogi Govt restricts issuance of consent letters to miners
The Kogi State Government has banned the issuance of consent letters to miners. Kogi State Commissioner…
Nigeria remains highest African oil-producing nation as output hits 1.4m bpd – OPEC
Nigeria has remained the highest African oil producing and exporting nation as its oil output rose…
Investors attracted to Nigerian Govt’s planned $2bn fibre infrastructure fund – Tijani
The Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijjani, says that the Nigerian Government…
90% of $20bn 2023 Diaspora remittances did not end up in Nigeria – Oyedele
The Chairman, Presidential Committee on Fiscal Policy and Tax Reforms,Taiwo Oyedele, says findings have shown that…
Nigeria’s stock market displaces Argentina to emerge world best
Nigeria’s stock market toppled Argentina’s stock to emerge as the world’s best market on Wednesday. The…
5,686 illegal refinery sites destroyed from 2021 to date – NNPCL
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Mr. Mele Kyari,…
Economic crisis: Nigerian govt runs to World Bank for $1.5b
The Minister of Finance, Wale Edun, has disclosed that Nigeria is in talks with the World…
Naira slumps again against US Dollar at forex market
The Naira depreciated significantly for a consecutive time against the US Dollar in the foreign exchange…
CBN declares ‘war’ on forex defaulters
The Central Bank of Nigeria, CBN, has said it is set to prosecute forex defaulters in…
Nigerian Govt announces plan to suspend multiple taxation nationwide
The Nigerian government, through the Presidential Fiscal Policy and Tax Reforms Committee, has announced plans to…
Nigerian govt will save N8 trillion from fuel subsidy, forex annually – Presidential Committee
The Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has revealed that the Nigerian federal…
Dangote refinery: What Nigerians should expect on fuel price – Retailers
Petroleum product retailers have revealed what Nigerians should expect as fuel prices following the commencement of…
NGX reaches all-time high as ASI appreciates by 3.93 per cent
The Nigerian Exchange Limited continued its bullish run as the All-Share Index appreciated by 3.93 per…