BUSINESS
FG: Fuel Subsidy Removal Saved Nigeria $84bn, Funded Major Infrastructure Projects
The Federal Government has declared that President Bola Tinubu’s removal of the petrol subsidy has ended a massive financial drain that cost Nigeria over $84 billion and enabled the funding of 40 key road projects within two years. This was revealed in a policy document titled “Two Years Later: Key Benefits of Subsidy Removal”, released by the National Orientation Agency...
Agricultural Development: FG Pledges Readiness To Carry Abia Along
The Federal Government has expressed its commitment to carry Abians along in its agricultural policies to further guarantee food security in the state. ABN TV reports that the Managing Director Nigeria Film Corporation, Dr Chidia Maduekwe made this known on Tuesday during the flagging off of the Central Bank of Nigeria's anchor borrowers programme. He said the agricultural programme is one...
FG To Sell Three Power Plants For N434 Billion
The Federal Government has revealed that it was making arrangement to sell Geregu, Omotosho and Calabar power plants for N434 billion in 2021. The government also hinted of its plan to concession National Art Theatre, Tafawa Balewa Square and all the River Basin Development Authorities at N836 million. Similarly, the federal authorities said that it would concession the National Stadium,...
Don’t Shut Down Cryptocurrency Business, Atiku Appeals To Buhari
Former vice-president Atiku Abubakar has urged the Buhari administration not to shut down cryptocurrency business, as announced by the Central Bank of Nigeria on Friday. In a statement signed by him on Saturday, Atiku urged government to regulate the sector rather than embarking on an outright shutdown. “This is definitely the wrong time to introduce policies that will restrict the inflow...
Price Increase: After Return Of Fuel Queues In Abuja, Lagos, Nigerians Angry, Apprehensive — IPMAN
Following long fuel queues that have resurfaced in the Federal Capital Territory (FCT) and other states across the country, the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Sunday, said Nigerians were being apprehensive over a likely increase in pump price. This is coming on the heels of increasing queues in filling stations within Abuja, where getting the commodity seems...
Consumers Traders Kick Against Plan To Ban Ponmo
Some Nigerians have kicked against the proposed plan by the Federal Government to ban the consumption of cooked cow skin, popularly known as ponmo. Recall that the Director General of the Nigerian Institute of Leather and Science Technology, Zaria, Prof. Muhammad Yakubu, recently said the institute and other stakeholders would be approaching the National Assembly and state governments to establish...
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...
Old Naira Notes To Remain Legal Tender Indefinitely — CBN
The Central Bank of Nigeria (CBN) says the old N200, N500, and N1,000 notes are to remain legal tender indefinitely. While new currency notes were introduced last year with the old ones set to cease as legal tender, the apex bank on Tuesday extended “the legal tender status deadline of the old design of N200, N500 and N1,000 denominations, ad...
Nigeria’s Lokpobiri Reaffirms Country’s Leadership In Africa’s Energy Security, Calls for Regional Integration
Nigeria’s Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, Ph.D, has reiterated Nigeria’s leading role in advancing Africa’s energy security, stressing the need for deeper regional cooperation at the Africa Oil Week (AOW) 2025 Ministerial and CEO Leadership Forum. In a statement signed by his Special Adviser on Media and Communication, Nneamaka Okafor, Lokpobiri said regional integration offers...
Dangote Refinery To Employ 57,000 Personnel — Aliko Dangote
The President/Chief Executive, Dangote Industries Limited, Aliko Dangote, has unveiled plans to increase the human capacity at the Dangote Refinery Project site from 40,000 to 57,000 personnel in the coming months. According to him, the project currently employs 29,000 Nigerians and 11,000 foreigners at the 650,000 barrels-per-day world’s largest single refinery project located in Ibeju Lekki area of Lagos. This is...
