BUSINESS
After Lagos Stampede, Customs Suspends Food Distribution
The Nigeria Customs Service has announced the temporary suspension of the national food distribution initiative which it started it Lagos over the weekend over the unfortunate stampede which led to fatalities. The Service, in a statement by its National Public Relations Officer, Abdullahi Maiwada, said the intervention was aimed at alleviating the hardships faced by Nigerians and improving access to...
FG Promises To Deal With Economic Destabilizers
The Federal Government has vowed to go after individuals sabotaging the nation’s economy. The Minister of Information and National Orientation, Mohammed Idris, made this known in a statement he personally signed on Friday. Idris stated that one of the decisions of President Bola Tinubu when he was sworn-in was the removal of petrol subsidy which all the “three major candidates” agreed...
Hardship: Some People Working To Undermine Our Efforts — VP Shettima
The Federal Government has said that some people are working to undermine the efforts of the President Bola Tinubu administration to revamp the Nigerian economy. The Vice President, Sen. Kashim Shettima disclosed this at the Public Wealth Management Conference, in Abuja on Wednesday. Pointed accusing fingers at smugglers and politicians as brains behind the attempt to pull the nation backward. The VP...
CBN Increases Customs Duty Rate To N1,605.82 Per Dollar Once More
Less than five days after it marginally reduced the Customs Exchange rate from N1515.48 to N1472.756 last week, the Central Bank of Nigeria (CBN) has again, for the umpteenth time, increased the rate to N1605.82 per dollar. The rate, which has already been reflected on the Customs portal today, February 21st, 2024, has further dampened the hope of the despondent...
Tinubu Orders Payment Of Electricity Bill Owed By Aso Villa
President Bola Tinubu has ordered the payment of Aso Rock’s electricity bill to avoid disconnection in the nation’s seat of power. In an advertorial titled ‘Notice of disconnection’ published on Monday, the Abuja Electricity Distribution Company (AEDC) said the presidential villa owes an electricity bill of N923.87 million. It issued a 10-day notice to the presidential villa and 86 government ministries,...
Tinubu Sacks Tukur As NFIU Boss, Appoints Bakari
President Bola Tinubu has fired Moddibo Tukur as the Director/Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), naming Ms Hafsat Abubakar Bakari as his replacement. According to Ajuri Ngelale, presidential spokesman, who announced the appointment, it is subject to confirmation by the Senate. “Ms. Bakari is a lawyer and financial intelligence expert with years of experience in anti-money laundering,...
Customs Service To Distribute Confiscated Food Items As Hunger Bites Nationwide
The Nigeria Customs Service (NCS) has expressed its readiness to distribute seized food items to Nigerians to help mitigate the current hardship in the land. It said the distribution will be done after all the food items have been certified fit for human consumption. Recall that hundreds of young Nigerians had taken to the streets in some parts of the country...
Rising Food Prices Inherited From Previous Administration But Tinubu Working Hard To Tackle Challenge — Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the President Bola Tinubu government inherited the rising prices of food and general commodities from the previous administration but is doing what it can to bring down the prices of food as well as the soaring inflation rate in the country. The finance minister stated this on...
AEDC Vows To Disconnect MDAs, Aso Villa, DHQ, CBN Others Over Heavy Debt
No fewer than 86 ministries, agencies and departments of government are owing the Abuja Electricity Distribution Company to the tune of N47bn. According to a public notice by the management of the AEDC, the Presidential Villa owes the DisCo the sum of N923.9m; the National Security Adviser owes N95.9bn; the Ministry of the Federal Capital Territory being supervised by Nyesom...
Bag Of Cement Price To Drop To N7000
Cement manufacturers have agreed to bring down the price of the product to between N7,000 and N8,000 per 50kg depending on the location nationwide. During a meeting initiated by the Minister of Works, David Umahi, and attended by his counterparts from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite, in Abuja on Monday, February 19, efforts were made to...
