BUSINESS
Adamawa Governor, Fintiri Raises NYSC Members’ Pay By N10,000
The governor of Adamawa state, Ahmadu Umaru Fintiri, on Tuesday increased the monthly allowance of National Youth Service Corps (NYSC) members in the state with ₦10,000 (ten thousand naira). Fintiri disclosed this in a statement and said he was excited to welcome the 2023 Batch ‘C’ Stream II Corps members to Adamawa State. “Your dedication to nation-building is recognized, and we’re...
Gov. Sani Reveals Actual Debt Burden Inherited From Predecessor, El-Rufai
Kaduna State Governor, Uba Sani, has said his administration inherited a huge debt burden of $587 million, N85 billion, and 115 contractual liabilities from the previous administration of Nasir El-Rufai. Governor Sani lamented that due to the rise in the exchange rate, the state is now paying back almost triple of what was borrowed by the previous administration. Governor Sani, who...
Nigeria Gets 60% Share Of Aferimbank’s $30bn Oil, Gas Funding
The African Export-Import Bank on Wednesday, disclosed that it has become the largest financier of oil and gas projects in Africa. The bank disclosed investing $30bn in industry projects, with Nigeria receiving 60 per cent despite reduced global funding for hydrocarbon ventures in Africa President, Afreximbank, Prof Benedict Oramah, said Africa has to find innovative solutions to its huge energy deficit. Oramah...
IPMAN Announces Petrol Price Reduction To ₦935 Per Litre
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a significant reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol. Starting today, petrol will be sold at ₦935 per litre across outlets nationwide. This price adjustment follows a new agreement between IPMAN and the Dangote Petroleum Refinery, which sets a fixed ex-depot price of ₦899.50...
It’s Not A Sin To Borrow – Buhari’s Aide, Garba Shehu
President Muhammadu Buhari’s Senior Special Assistant on Media, Garba Shehu, while speaking with journalists at the weekend in Abuja, also said that it was not wrong for the federal government to borrow more money to finance infrastructure in the country. “It is not a scandal to borrow, the bad thing about borrowing is when you deployed it to your pocket....
CBN Breaks Silence, Says Old Naira Notes Remain Legal Tender Till Dec 31st
The Central Bank of Nigeria (CBN) says the old N200, N500 and N1000 notes remain legal tender until December 31, 2023. Isa Abdulmumin, CBN spokesperson, announced the development in a statement on Monday. “In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and...
VIDEO: Ohafia Traditional Rulers Council Unveils Economic Development Masterplan
In a groundbreaking move, the Ohafia Traditional Rulers Council (Nde Eze Ohafia) has launched a comprehensive economic development package aimed at transforming Ohafia Local Government Area (LGA) into a hub of economic growth and development. https://youtube.com/live/yoZSsWJO6ic The package includes a range of projects designed to unlock the economic potential of the region and make it a modern architectural city like Dubai. At...
FG Fixes December 2024 Deadline For Completion Of Rehabilitation Work In Kaduna Refinery
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has revealed that the ongoing quick-fix project at the Kaduna Refinery and Petrochemicals Company Limited will be back on stream by the end of 2024. This was disclosed in a statement posted on the official X handle of the Nigerian National Petroleum Company Limited on Saturday. According to the statement, Lokpobiri...
It’s Illegal For NNPCL To Fix Price Of Dangote Refinery Petrol – Falana
Human rights lawyer, Femi Falana, SAN, says it is illegal for the Nigerian National Petroleum Company Limited, NNPCL, to determine the price of Premium Motor Spirit, also known as petrol, for the Dangote Refinery after deregulation. Falana, who said this in a statement on Tuesday, added that the action of the NNPCL contravenes Section 205 of the Petroleum Industry Act,...
How Insecurity, Inflation, Lack Of Access To Funds Killed 2m Businesses In 5 Years — SMEDAN
The Director General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Olawale Fasanya has said that over two million businesses in Nano, Micro, Small and Medium Enterprises (nMSMEs) subsector died between 2017 and 2021 alone, pushing more than six million Nigerians into unemployment market. He said the death of the businesses was largely caused by insecurity that had denied...
