BUSINESS
FG encourages use of gas-powered vehicles to remove subsidy on petrol
The Minister of State for Petroleum Resources, Timipre Sylva, said that plans are ongoing by the Federal Government to expand the use of Compressed Natural Gas in order to stop subsidy payment on Premium Motor Spirit, also known as petrol. Sylva, who made this known while briefing newsmen in Abuja on Wednesday, said that the government was set to discourage the...
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...
Gov. Mbah Lists Gains Expected As He Signs N521.5bn 2024 Budget Into Law
Governor of Enugu state, Peter Mbah has signed a N521.5billion Enugu State 2024 Budget into law, saying it would engender disruptive economic growth, radical infrastructural development and efficient service delivery. Mbah, who said that the Enugu State 2024 Appropriation Law, consisting N414.3billion Capital Expenditure, representing 79 per cent of the budget and N107.2 billion, representing 21 per cent of the...
MTN, Havenhill Synergy, Others Get Permits To Generate Electricity
The Nigerian Electricity Regulatory Commission has issued permits to Golden Penny Power Limited, MTN Communications Nigeria Limited, Havenhill Synergy, and others for mini-grid electricity generation. The NERC said it issued nine new off-grid generation licences in the first quarter of 2024 with a gross capacity of 109.69 megawatts and three new trading licences. According to a report by the commission, Golden...
Naira Redesign: Governors On Our Watchlist Have Increased – Says EFCC
The Economic and Financial Crimes Commission (EFCC) has said the number of governors on its watchlist has increased. The Chairman of the commission, Abdulrasheed Bawa, disclosed this while briefing news men at the State House after meeting with President Muhammadu Buhari on Thursday. Bawa, who declined to mention the number of governors currently under the EFCC watch, also refused to reveal...
Trump Proposes 100% Tariff On Foreign-Made Films To Boost U.S. Movie Industry
U.S. President Donald Trump announced on Sunday that his administration is preparing to impose a 100% tariff on all films produced outside the United States, arguing that the American movie industry is being “devastated” by productions relocating abroad. The announcement, made via Trump’s Truth Social platform, is the latest in a series of protectionist trade moves that have sparked controversy...
FG Commences Disbursement Of N50b Grants To Small Business Owners
Beneficiaries of the Federal Government’s N50,000 grant for nano business owners have started receiving credit alerts. Minister for Industry, Trade and Investment Dr Doris Uzoka-Anite, who confirmed this at the weekend, said no fewer than 200,000 small business owners have received the payment. According to her, 800,000 others will get their grants before the close of the programme by May 31. This...
You Can’t Ban Open Grazing, Miyetti Allah Challenges Governors
The Miyetti Allah Kautal Hore, a factional umbrella body for herdsmen in the country, has said it is opposed to the ban imposed on open grazing of cattle by South-West governors. It said the enforcement of the ban was tantamount to an eviction notice. This is however against the position of the Miyetti Allah Cattle Breeders Association of Nigeria, which...
FG To Meet Foreign Diplomats Over Twitter Ban
Following reactions to the Federal Government’s suspension of twitter operations, the Minister of Foreign Affairs Geoffrey Onyeama will meet with foreign diplomats by noon today. US, UK, EU, Sweden have all reacted against the ban, which they condemned as an infringement on rights of the people. The meeting, it was gathered, is meant to explain government’s stance on the issue. Snippet about...
Dangote Refinery Sells Petrol At N960/Litre To Ships, N990 For Trucks
Dangote Refinery has disclosed the price of its petrol, saying that it sells at N990 per litre in trucks and N960 per litre into ships. The disclosure follows the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) claim of importing the products at cheaper rates compared to that of Dangote. The marketers...
