BUSINESS
Zamfara State Govt Says It Did Not Borrow N14bn
The Zamfara State Government has clarified that the reported sum of N14.26 billion was not obtained through a loan but part of the proceeds from a N20 billion bond initiated by the previous administration in the state. It said the current administration of Governor Dauda Lawal has not taken any domestic or external loan since assuming office. Sulaiman Bala Idris, the...
Adopt Zimbabwe’s Style To Curb Inflation, Obasanjo Urges FG
Former President Olusegun Obasanjo has advised the Federal Government to adopt the Zimbabwean model to weather the current storm of galloping inflation. He made the call at a Youth leadership symposium with the theme “Opportunities for Peace: Roles of The Youths in Conflict Prevention in Africa” held at Olusegun Obasanjo Presidential Library in Abeokuta, the state capital, as part of...
Reps To Investigate High Flight Cost, Poor Service In Aviation Sector
The House of Representatives yesterday mandated its committee on aviation to investigate the hike in international flight fares and poor service delivery by foreign airlines operating in Nigeria. This, it said , was to curb unwholesome practices by airlines and ensure that flight fares were at par with that of neighbouring countries. It also called on the ministries of interior and...
Buhari Presents N20.5 Trillion 2023 Budget To National Assembly
President Muhammadu Buhari has put the total budget estimate for 2023 at N20.5 trillion. Out of this, the government is budgeting about N6 trillion for debt servicing in 2023. He however said that the 2023 proposals reflect the serious challenges facing the country. He said the policy of government is designed to ensure strategic thinking in government performance in 2023. The President said...
Dangote’s Refinery Is Game-Changer For Nigeria, Africa – Akinwumi Adesina
President of the African Development Bank (AfDB) Akinwumi Adesina has described the Dangote Refinery and Petrochemical Plant projects as a “game-changing initiative” that will spur development and deepen regional integration. Adesina said this after a tour of the crude oil refinery and petrochemical production plant owned by Dangote Industries Limited on Saturday. “I was very impressed with Dangote’s refinery and petrochemical...
Miners Owing FG N2tn, Says Minister
The Minister of Solid Minerals Development, Dele Alake, has disclosed that miners and operators owe the federal government more than N2 trillion. He however noted that in Kaduna State, over N300 billion is owed. Speaking yesterday in Kaduna during a meeting with Licensed Minerals Holders, Laterite/Sand Operators Dealers, the minister who was represented by the Acting Zonal Mines Officer, North-West Zonal...
Bakers Set To Raise Prices Of Bread Again, Say Cost Of Production Increasing
Bakers, under the aegis of the Premium BreadMakers Association of Nigeria, have warned of yet another hike in prices of bread due to the skyrocketing cost of baking materials. President of the association, Emmanuel Onuorah, disclosed this to The PUNC...
We Spent N42 Billion Fixing Pipelines In 6 Months – NNPC
The Nigerian National Petroleum Corporation, NNPC has said it spent a total of N41.98bn on pipeline repairs and management cost in the first half of this year. The NNPC disclosed this in its latest monthly oil report, saying, “Products theft and vandalism have continued to destroy value and put NNPC at the disadvantaged competitive position.” A total of 1,067 vandalised points...
President Buhari Unveils 1 Million Bags Of Rice Pyramids In Abuja (Pictures)
The Executive Governor of Jigawa state Alhaji Mohammed Badaru Abubakar joins President Muhammadu Buhari to unveil the FCT MEGA rice pyramids in Abuja. The One million paddy rice stacked in 15 separate pyramids in Abuja, is in collaboration of the CBN with the Rice Farmers Association of Nigeria (RIFAN). Five State Governors including Ekiti, Kayode Fayemi; Kebbi, Atiku Bagudu; Cross River,...
FG Moves To Regulate Prices Of Goods As Hardship Bites Harder
The federal government has said plans are in the works to establish a National Commodity Board as a solution to the escalating food prices in the country. The commodity board will be expected to assess and regulate food prices, as well as maintain a strategic food reserve for stabilizing prices of crucial grains and other food items. Vice President Kashim Shettima...
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