BUSINESS
Abia State Proposes N750.3 Billion Budget For 2025
Governor Alex Otti has presented the 2025 Budget of Abia State to the House of Assembly, proposing a total outlay of N750.3 billion, a 30% increase from the 2024 budget. Dubbed the “Budget of Sustained Momentum,” the governor emphasized that 82% of the budget would be allocated to capital projects, while 18% would cover recurrent expenditures. Key allocations include N611.7...
VIPs In Lagos, Abuja Responsible For Oil Theft In Niger Delta — Sen. Dickson
Senator Seriake Dickson representing Bayelsa West said some very important personalities (VIPs) from Lagos and the Federal Capital Territory, Abuja, are behind oil theft in Niger Delta. Dickson stated this in an interview on Channels Television on Friday. The two-term governor of Bayelsa State said the official system and oil companies are beneficiaries of oil theft in the Niger Delta. According to...
FG Considers Direct Flight To Pakistan
The Federal Government is working out modalities to begin direct air services to Pakistan, in its efforts to boost trade volume between both nations currently pegged at $210 million and ultimately offer more flight connections to Nigerians. To this end, the Minister of Aviation, Mr Hadi Sirika, at the weekend, led a delegation to Islamabad, Pakistan, where he met with...
Trade Ministry, SMEDAN Plan MSMEs Academy
The Federal Government, through the Federal Ministry of Industry, Trade and Investment has begun talks with the United Nations Industrial Development Organisation to set up a formal academy to train and equip small business operators with the requisite knowledge to help their day-to-day activities and deepen their contributions to the country’s economic growth. The Ministry, the Small and Medium Enterprises...
1,500 Staff Redeployed From CBN Headquarters Resume Duty In Lagos
At least 1,500 members of staff of the Central Bank of Nigeria will on Friday resume at its Lagos office following their redeployment from the headquarters in Abuja. A source at the apex bank told our correspondent exclusively that the plan, though heavily criticised, was still in motion, and affected staffers would be resuming on Friday. “Yes, the plan is still...
Emirates Fixes Date For Flights Resumption
Emirates will resume services to Nigeria from 1 October 2024, operating a daily service between Lagos and Dubai, the airline announced on Thursday. This is coming over two years after the airline suspended flights to Nigeria over inability to repatriate fund from its ticket sales in Nigeria. The UAE carrier was being owed over $85 million at the time it was...
It’s Not A Sin To Borrow – Buhari’s Aide, Garba Shehu
President Muhammadu Buhari’s Senior Special Assistant on Media, Garba Shehu, while speaking with journalists at the weekend in Abuja, also said that it was not wrong for the federal government to borrow more money to finance infrastructure in the country. “It is not a scandal to borrow, the bad thing about borrowing is when you deployed it to your pocket....
MRS Oil Emerges As Nigeria’s Downstream Market Leader After Dangote Refinery Deal
A groundbreaking fuel supply and distribution deal between Dangote Refinery and MRS Oil Nigeria Plc has propelled MRS Oil to the top of Nigeria’s downstream petroleum industry, surpassing long-standing market leaders such as Mobil, TotalEnergies, and NNPC Retail. The partnership ensures that MRS Oil handles over 40% of Dangote Refinery’s refined products released for local consumption. This development has significantly...
CBN Releases N120m New Notes In Katsina As Shortage Bites Harder
The Central Bank of Nigeria (CBN) said it has disbursed over N120 million of the redesigned naira notes to rural communities in Katsina state to cushion the effect of the new policy. Director of Currency Operations of the CBN, Alhaji Ahmed Bello Umar who disclosed this while briefing newsmen yesterday in Katsina, said the disbursement was through four designated banks. “We...
Buhari Makes Another Appointment From Southeast As Obinna Becomes New PPPRA Chairman
Barely a week after the former Super Eagles captain, Mikel Obi was appointed youth ambassador by the federal government, President Muhammadu Buhari has approved the appointment of Mr Atuonwo Obinna as Chairman, Petroleum Product Pricing Regulatory Agency (PPPRA). Mr Femi Adesina, the Special Adviser to the President on Media and Publicity, said this in a statement in Abuja Adesina said the...
