BUSINESS
VP Shettima Summons Lokpobiri, Mele Kyari, Ribadu Over Petrol Price Hike
Vice President Kashim Shettima has summoned the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and Group Managing Director of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari. Also summoned on Thursday at the Presidential Villa is the National Security Adviser, Nuhu Ribadu over the recent hike in the price of Premium Motor Spirit (PMS), popularly known as...
Subsidy Removal: Meeting Between FG, Labour Leaders Ends In Deadlock
The meeting between the Federal Government and the Nigerian Labour Congress (NLC) over fuel subsidy removal has ended without a consensus. The meeting began around 4 pm on Wednesday at the Presidential Villa, Abuja. Representatives of the Federal Government included Dele Alake, the spokesperson for President Bola Tinubu; and the Group CEO of the Nigerian National Petroleum Company (NNPC) Limited, Mele...
Buhari Says His Administration Has Done Well In Reviving Economy Irrespective Of Criticisms
President Muhammadu Buhari, Tuesday said irrespective of what some people say, the administration he leads has made strides in stabilizing the security situation in the country, reviving and diversifying the economy, and fighting corruption. The President gave himself the pass mark when he received a delegation of political, religious and business leaders from Gombe State at State House, Abuja, that...
Budget Deficit May Trigger Fresh Recession – Finance Minister, Zainab Ahmed
With the deficit financing of the revised N10.509 trillion 2020 budget rising from N1.847 trillion to N4.563 trillion, the economy might be heading for another recession, the Minister of Finance, Budget and National Planning, Zainab Ahmed, has warned. She expressed the fear yesterday in Abuja during a session with the Senate Committee on Finance where heads of revenue-generating agencies made...
DSTV, GoTV Users To Pay More From May 1 As Multichoice Announce Price Increase
MultiChoice Nigeria, on Tuesday, announced an upward review of prices on its DStv and GOtv packages by 17 per cent. This was confirmed in a text message sent to customers that the new rates will take effect on May 1, 2023. The pay-tv firm said the price adjustment was due to the rising costs of business operations. “Please note that from May...
Probe Alleged Missing N20trn Stamp Duty Now, Group Tells Tinubu
A non-governmental organisation, Pristine Initiative for Social Development (PRISOD), has called on President Bola Tinubu to probe the circumstances surrounding failure of some government agencies to remit N20 trillion accruing from stamp duty payments to the federation account. PRISOD made the call in a letter addressed to President Tinubu in which it traced the history of the missing fund. In a...
COVID-19 Costs Nigerian Aviation N17bn — Sirika
Hadi Sirika, minister of aviation, says many airlines will not survive the economic crisis which is a fallout of COVID-19. Speaking at the briefing of the presidential task force on COVID-19 on Wednesday, Sirika said though COVID-19 has affected different sectors of the economy, none could be compared to that of aviation. Also Read: COVID-19: Economic council meets Buhari, warns of...
Subsidy Removal: Oil Marketers Inflicting Pains On Nigerians — APC Governors
The Governors of the ruling All Progressives Congress (APC), have accused oil marketers of inflicting pains on Nigerians after President Bola Tinubu’s pronouncement at his inauguration that fuel subsidy is gone. The governors, under the aegis of the Progressive Governors’ Forum (PGF), stated this during a courtesy visit to President Bola Tinubu at the presidential villa. The Chairman of PGF and...
CBN’s New Policy Limits Cash Withdrawal To N100,000, N500,000 For Individual, Corporate Account Holders Per Week
Nigeria's apex bank, Central Bank of Nigeria, CBN on Tuesday announced a new policy which mandates commercial banks other financial institutions to ensure that individual and corporate account holders do not withdraw above N100, 000 and N500, 000, respectively, per week. Individuals will only be able to withdraw N100,000 per week (from over the counter, Point of Sale Machines or...
We Are Borrowing Wisely – Minister of Finance
Minister of Finance Zainab Ahmed has stated that the present administration is prudently borrowing to address the country’s infrastructure deficit. Ahmed, speaking at a news conference on the National Bureau of Statistics’ (NBS) latest report on the economy’s growth, remarked that there will be regrets if no investment returns revenue in the future. READ ALSO: After NDA Attack, Mbaka Warns Over...
