BUSINESS
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...
Tinubu Declares State Of Emergency On Food Security
President Bola Tinubu has declared a state of emergency on food security in Nigeria. Presidential spokesman, Dele Alake, made this known while briefing State House correspondent on Thursday. The President directed that all matters pertaining to food and water availability and affordability, as essential livelihood items, be included within the purview of the National Security Council. The directive was said to be...
Naira Appreciated To N1,535/$ In Parallel Market
The Naira yesterday depreciated to N1,535 per dollar in the parallel market from N1,525 per dollar on Monday. But the Naira appreciated to N1,485.05 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira fell to N1,485.05 per dollar from N1,495 per dollar on...
CBN Auctions $876m To 26 Banks, Disqualifies Six
The Central Bank of Nigeria (CBN) has successfully auctioned $876.26 million to 26 deposit money banks (DMBs) in the latest Retail Dutch Auction System (RDAS) held on Tuesday, August 6, 2024. The auction was part of the apex bank’s efforts to enhance foreign exchange liquidity in the market, alleviate demand pressure, and support price discovery, in line with its objectives. The CBN disclosed...
Arik Sacks 10 Pilots Who Protested Pay Disparity, Welfare With Foreign Colleagues
The management of Arik Air has dismissed at least 10 of its pilots for embarking on industrial action without due notice. The Guardian learnt that the aggrieved pilots began strike this week in protest against protracted wage disparity between expatriate and Nigerian pilots that has still not been resolved by Arik Air. The management, in a memo, yesterday, described the protest...
Buhari names Soludo, Rewane, Salami in new economic team
President Muhammadu Buhari has named an Economic Advisory Council, EAC. The Council replaces the Economic Management Team that was chaired by the Vice President, Prof Yemi Osinbajo. The new EAC Buhari named on Monday has Prof Doyin Salami as the Chairman. Other members are Dr. Mohammed Sagagi (Vice-Chairman); Prof Ode Ojowu; Dr Shehu Yahaya; Dr Iyabo Masha; Prof Chukwuma Soludo;...
MultiChoice Slashes Price On DStv, GOtv Decoders
MultiChoice Nigeria has announced a price slash on its DStv and GOtv decoders from Monday, February 1, 2021. The price slash will see the DStv HD decoder, dish kit with Compact package subscription drop from N18,600 to N9,900 on Confam package, while GOtv decoder, GOtennae with GOtv Jolli package subscription will go from N8,400 to N6,900. Speaking at a virtual media...
President Buhari Reportedly Set To Extend Validity Of Old Naira Notes Till April 10
President Muhammadu Buhari is reportedly considering extending the validity of old 200, 500 and 1000 naira notes by 60 days. TheCable reports that this is to avoid disobeying the order of the Supreme Court of Nigeria which ruled that the old notes remain valid until it delivers judgment in the case filed by some states against the federal government. The CBN...
ROXETTES Motors Set To Commence Operations At Abia Assembly Plant As Gov. Otti Assures Conducive Environment (Photos)
ROXETTES Motors is almost set to commence the assembling of vehicles in Abia State before the end of October 2024 as the construction of its assembly plant at Obu-Aku City in Ukwa West Local Government Area of Abia State nears completion and all the equipment needed to start the 40,000 units of automobiles per annum are expected to arrive...
BREAKING: Nigeria Joins OPEC To Cut Crude Oil Production
The Federal Government on Friday said crude oil price would rebound by at least $15 per barrel in the short term following the latest intervention of the Organisation of Petroleum Exporting Countries and its allies, jointly referred to as OPEC+. Minister of State for Petroleum Resource, Timipre Sylva, said the rebound could translate to additional revenue of $2.8bn for Nigeria. He...
