BUSINESS
Stop Patronising Imported Items, Runsewe Urges Nigerians
The Director General of National Council For Arts and Culture, NCAC, Otunba Oluwasegun Runsewe, has called on Nigerians to desist from taking pride in patronising imported items. Instead, he said they should make gainful habit of patronising made in Nigeria products. Lamenting the low rate at which Nigerians were patronising local products,the culture expert said the development had killed Nigerian...
Senate Threatens NNPCL Boss, Kyari With Prison Sentence Over N12 Trillion Maintenance Of Refineries
The Senate on Wednesday threatened to recommend the sack and possible jailing of the Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, and heads of government agencies in the oil sector over the Turnaround Maintenance on which N12 trillion has been spent without tangible results. The upper chamber specifically threatened to sack heads of agencies...
OPEC+ Postpones Policy Meeting To November 30
The ministerial meeting of the OPEC+ alliance earlier fixed for Saturday and Sunday, November 25 and 26, 2023, in Vienna has been postponed to Thursday, November 30, 2023. This was disclosed on Wednesday by the Vienna-based agency of the Petroleum Exporting Countries on its website. “The 187th Meeting of the OPEC Conference, the 51st Meeting of the Joint Ministerial Monitoring Committee...
Alake Tours Solid Minerals Agencies
The minister of solid minerals development, Dele Alake, has commenced a tour of the agencies under the Solid Minerals Ministry. The visit is aimed at canvassing reforms and adherence to due process in line with the Renewed Hope agenda of the Tinubu administration. The special assistant on media to the minister, Segun Tomori, in a press statement said the Alake’s tour started with...
Gov. Otti Denies Spending Almost One Billion Naira on Feeding, Personal Welfare
Abia State Governor, Dr. Alex Otti has denied spending nearly one billion Naira on his feeding and personal welfare, saying such information is untrue, ABN TV reports. The governor's chief press secretary, Kazie Uko, and his Special Adviser on Media and Publicity, Ferdinand Ekeoma in a statement titled, "ABIA STATE Q3 BUDGET EXPENSES: UNDERSTANDING THE ISSUES" said Abia State Government...
After Subsidy Removal, FG Records Over N1tn Monthly Revenue Inflow – Finance Minister
The Minister of Finance, Mr Wale Edun, says that the Federation Account is witnessing improved revenue inflow since the removal of subsidy from an average of N650 million monthly to over N1 trillion in the last four months. The minister stated this on Monday in Asaba at the opening ceremony of a four-day retreat organised for members of the Federation...
Air Peace Obtains Direct Flight Permit To Dubai
The government of United Arab Emirates has granted Air Peace the approval to operate direct flight to Dubai. Minister of Aviation and Aerospace, Festus Keyamo, SAN, who disclosed this weekend, said Emirates Airlines, which has stopped operations to the country due to its inability to repatriate dollars earned in the country home, also announed its readiness to commence direct flights...
We’re Not Creating Debt Crisis But Reducing Poverty In Africa, Says Chinese Envoy
The Chinese government has said it is partnering with African countries to reduce poverty on the continent, pledging that it will not create a debt crisis for African countries. The Chinese Consul-General, Lagos, Yan Yuqing, made this known at the 18th China-African lecture held on Thursday at the Faculty of Arts of the University of Lagos. Yuqing said the partnership between...
Our Economic Environment Does Not Support Further Borrowing, Finance Minister Tells Senate
The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has disclosed that the country cannot rely on borrowing to fund the 2024 budget. Edun stated this on Thursday when he appeared before the joint Senate Committee interrogating the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper chaired by Senator Sani Musa. The finance minister told the joint...
Nigeria’s Inflation Rate Hits 27.3%
Nigeria’s annual inflation rate rose to 27.33 percent in October from 26.72 percent in the previous month. This was disclosed by the National Bureau of Statistics (NBS) in its consumer price index report for September, released on Tuesday, November 14. The CPI measures the rate of change in prices of goods and services. The statistics office said the October 2023 headline inflation rate...
