BUSINESS
NNPCL Confirms 1.5bn Litres Of Petrol In Stock, Moves To Fight Hoarding
The Nigerian National Petroleum Company (NNPC) Limited has engaged security agencies and other industry stakeholders to dismantle cartels suspected to be hoarding petrol across the country. The company said that as the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continue to improve, it has products that can last for 30 days. The Chief Corporate Communications...
FULL LIST: 5 Charges Nigerians Pay For Electronic Transactions
The Central Bank of Nigeria (CBN) has issued an order to all banks operating within the country to impose a cybersecurity levy on transactions. In a circular released on Monday, May, the apex bank stated that the implementation of the levy would begin two weeks from the date of the circular. The circular was directed to all commercial, merchant, non-interest, and payment...
NERC Directs Downward Review Of Tariff For Band A Electricity Customers
The Nigerian Electricity Regulatory Commission (NERC), has ordered the downward review of electricity tariff for Band A customers to N206.80 per kilowatt-hour from the N225/kWh. In a statement on Monday, the electricity market operator said the development was due to the appreciation of the naira in the official exchange window. “Effective from May 6, 2024, Band A end-user tariffs have been...
FG Commences Disbursement Of N50b Grants To Small Business Owners
Beneficiaries of the Federal Government’s N50,000 grant for nano business owners have started receiving credit alerts. Minister for Industry, Trade and Investment Dr Doris Uzoka-Anite, who confirmed this at the weekend, said no fewer than 200,000 small business owners have received the payment. According to her, 800,000 others will get their grants before the close of the programme by May 31. This...
VP Shettima Jets Out To US For Business Summit
Vice President Kashim Shettima has departed Abuja for Dallas, United States of America, to represent President Bola Tinubu at the 2024 US-Africa Business Summit hosted by the Corporate Council on Africa. A statement by his Senior Special Assistant on Media and Communications, Stanley Nkwocha says the Vice President will join other political and business leaders across Africa, the United States...
Nigeria To Commence Local Manufacturing Of Vehicle Next Year — Minister
The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, says Nigeria is ready to commence local automobile manufacturing before the end of the year. At the African Association of Automotive Manufacturers and the Nigerian Automative Manufacturers Association’s meeting in Abuja, Uzoka-Anite said funds to grow the nation’s automotive industry have been made available to local manufacturers. According to her, it was...
Turkey Suspends Trade Activities With Israel
Turkey said Thursday it was suspending all trade with Israel until it allows aid to enter Gaza unhindered during its offensive against Hamas militants in the territory. “Exports and imports to and from Israel have been suspended,” the trade ministry said in a statement, adding: “Turkey will apply these new measures… until the Israeli government authorises an uninterrupted flow of...
Ex-Abia Governor, Ikpeazu Participates In Investment Promotion Event In Australia (Photos)
His Excellency Dr. Okezie Victor Ikpeazu, the former governor of Abia State, recently attended a two-day investment promotion event between the Australian and Nigerian governments. ABN TV gathered that the event was organized by the Nigerian High Commission in Australia, in collaboration with the Australia-Africa Chamber of Commerce. During the event, Dr. Ikpeazu delivered a keynote address on "Efforts by Sub-National...
Rejection Of Electricity Tariff Hike Will Lead To Total Blackout, FG Tells Nigerians
The Minister of Power, Adebayo Adelabu Monday warned that there would be total blackout in the country in the next three months if the proposed electricity tariff hike is not implemented. The minister disclosed this yesterday in Abuja when he appeared before the Senate Committee on Power at an investigative hearing over the recent electricity tariff hike by the Nigerian...
We’re Worried Over Naira Depreciation — Senate
The Senate Committee on Finance has expressed worry over the instability and continuous depreciation of the naira. According to the Senate, the persistent depreciation of the Naira against major foreign currencies has become a pressing concern. In a statement signed in Abuja on Sunday, Senator Sani Musa who noted that there was the urgent need for concerted efforts at tackling the...
