BUSINESS
Over 5,000 Debtors Owe FG N5.2trn, Says Finance Minister
Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed has said the Federal Government will enforce the recovery of N5.2 trillion debt owed by over 5,000 debtors through various Ministr...
Inflation Rises To 16.82% In April 2022 – NBS
The National Bureau of Statistics, NBS, said inflation rate rose to 16.82 percent in April 2022, representing a 0.90 percent rise when compared to 15.92 per cent recorded in March 2022. The bureau also said that the composite food index rose year...
Aero Contractors Suspends Scheduled Operations Indefinitely
Aero Contractors, Nigeria’s oldest airline, says it will suspend passenger flights from Wednesday, July 20. The airline, in a statement on Monday, said the suspension is temporary but did not indicate when it will resume operations. In May, Aero h...
Buhari Should Account For $1bn Security Fund Jointly Contributed By States – Gov. Ortom
Governor Samuel Ortom of Benue State yesterday asked the Federal Government to account for the $1 billion security funds jointly contributed by the 36 states of the federation to fight insurgency giving the worsening insecurity in the country. Speaki...
Senate Summons Emefiele To Explain Uncontrolled Fall In Naira Value
The Senate has resolved to summon the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, to explain the reasons for the rapid depreciation of the value of the naira. It has also mandated its Committee on Banking, Insurance and Other Financi...
We’re Working Hard To Ensure Free Fall Of Naira Stops, Emefiele Vows
With an escalating demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has assured that it would continue to make deliberate efforts in the foreign exchange sector to avert further downward slide in...
Niger Now Exports Fuel To Nigeria
The Niger Republic, a country that started commercial oil production in 2011, now exports petroleum products to Nigeria. For decades, Nigeria’s three major refineries have been grounded to near-zero capacity utilisation with all of its refined fuel imported from other countries. According to Guardian, data obtained from the African Refiners & Distributors Association (ARA) revealed that strong refinery performance in the...
Take Advantage Of Nigeria’s Resources For Investment, Buhari Urges International Community
President Muhammadu Buhari on Thursday urged the international community and investors to take advantage of Nigeria’s diversity in human and natural resources for investment. The President also explained that his administration remains committed to youth development, integration and employment. He spoke at a ceremony to receive the Letters of Credence of the Ambassadors of Belgium, Mauritania, Austria and Norway at the...
Dangote’s Refinery Is Game-Changer For Nigeria, Africa – Akinwumi Adesina
President of the African Development Bank (AfDB) Akinwumi Adesina has described the Dangote Refinery and Petrochemical Plant projects as a “game-changing initiative” that will spur development and deepen regional integration. Adesina said this after a tour of the crude oil refinery and petrochemical production plant owned by Dangote Industries Limited on Saturday. “I was very impressed with Dangote’s refinery and petrochemical...
Fuel Sells For N400/litre In Abuja, Others, Scarcity Persists In Lagos
Residents of Abuja and neighbouring states of Niger and Nasarawa are still facing tough times sourcing for Premium Motor Spirit, popularly called petrol, with the commodity selling for as high as N400...
