Cardoso: Don’t Let My People Go By Abdulrahman Abdulraheem The famous “Let My People Go” phrase originated from the Holy Bible, in the Book of Exodus. One of the iconic verses reads: “Then the LORD said to Moses, go to Pharaoh and say to…
Nigeria’s Total Debt Rises N24.33tr as FG Borrowed N7.71tr In Q1 2024 – DMO The Debt Management Office (DMO) clarified that Nigeria’s fresh borrowing was N7.71 trillion in the first quarter of 2024. It explained on Wednesday that the fresh…
After Bearish Trend, Equity Market Rebounds with N95bn Gain The Nigerian equity market recovered from the previous day’s loss with a N94.95bn gain on Wednesday, buoyed by an appreciation by Cocoa Processors, Oando, Computer Warehouse Group…
FG to Install 90,000 km Terrestrial Fibre-optic Infrastructure, Says Edun The Federal Government has announced its readiness to establish Nigeria as the third-largest terrestrial fibre-optic infrastructure nation in Africa, with the…
CBN Shuts Down FX Price Verification Portal for Importers July 1 The Central Bank of Nigeria says it will discontinue the foreign exchange price verification system portal used by importers from July 1. It also noted that the Price…
FG to Conduct National Drug Use Survey to Combat Drugs, Others The Federal Government says it will conduct a drug use survey as part of its efforts to combat drug abuse and develop preventive measures. It said the survey to be conducted…
NGF Assures Labour of Better Minimum Wage from Ongoing Negotiations The Nigeria Governors’ Forum (NGF) have assured Nigerians that better wages will result from the ongoing negotiations between the government, private sector and organised…
Tinubu, Governors to Discuss Minimum Wage at NEC Meeting Today The National Economic Council, led by President Bola Tinubu, will meet at the Aso Rock Villa, Abuja, on Thursday (today) to discuss the new minimum wage. The President’s Chief…
Dangote Refinery: Operators Warn of Crude Supply Crisis, Threat to Investments The domestic crude oil supply crisis that recently led to accusations and denials in the oil sector may warrant an investment plunge in the industry, operators…
Oil Theft: NNPC Uncovers New165 Illegal Refineries in Niger Delta The Nigerian National Petroleum Company Limited said it uncovered another 165 illegal refineries in various locations across the Niger Delta in a week. According to a NNPC…
According to the Debt Management Office (DMO), exchange rate swings have contributed to the increase in Nigeria's national debt stock, which went from N97.34 trillion in December 2023 to N121.67 trillion in March.
Mr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has reiterated the Bank’s commitment to collaborating with relevant financial institutions, fiscal authorities, and the National Assembly in order to ensure the…
The Afenifere Renewal Group (ARG), a Pan Yoruba socio-political organisation, yesterday, urged the federal government to mandate the Central Bank of Nigeria (CBN) to reverse the recent suspension of Heritage Bank’s licence.
According to Mohammed Bello Koko, the Managing Director and Chief Executive Officer of the Nigerian Ports Authority (NPA), the effective operations of Nigeria’s ports and the maritime industry have improved its revenue generation.
In a bid to position Nigeria as Africa’s third-largest terrestrial fibre-optic infrastructure in Africa, Mr. Wale Edun, the Honourable Minister of Finance and Coordinating Minister of the Economy, on Tuesday in Abuja, addressed the Fibre…
The Asset Management Corporation of Nigeria (AMCON) has achieved a remarkable triple-digit growth of 202 per cent from N34.730 billion in 2022 to N108.433 billion in 2023 despite challenging macroeconomic conditions coupled with economic…
According to Godswill Akpabio, the Senate President has announced that more than 30,000 Nigerian students have been selected to benefit from the student loan scheme introduced by President Bola Tinubu.
According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), there were no dirty fuels, especially diesel being imported into the country, stressing that all imports meet current specifications.
President Bola Tinubu reaffirmed his administration’s commitment to navigating Nigeria away from economic ruin through a series of comprehensive reforms.
The oil market fell yesterday as weak consumer confidence data in the United States fed concerns regarding the economic outlook and fuel demand after a slow start to the summer driving season, with Brent futures for August down by $1 or 1…
FEC Approves N1.9bn for 33 CNG Vehicles, $1.442m Worth Arms, Ammunition for NDLEA The Federal Executive Council (FEC) has approved $1.442 million for the procurement of arms, ammunition and equipment for the National Drug Law Enforcement…
Katuka And The Redemption of The Capital Market, by Gidado Shuaib With the recent appointment of Mallam Mairiga Aliyu Katuka, a long-standing insider in the financial services sector, as the Chairman of the Securities and Exchange…
NAIC Insures ₦1.014tr in Agricultural Projects in Five Years The Nigerian Agricultural Insurance Corporation (NAIC) has provided insurance coverage worth ₦1.014 trillion to agricultural projects across Nigeria in the past five years. This…
CBN Governor Cardoso Sees End to Excessive FX Volatility The Central Bank of Nigeria (CBN) has disclosed that the worst is over for the Naira’s fluctuations. CBN governor, Olayemi Cardoso, struck an optimistic tone regarding the naira’s…
Electricity Consumers Rise 9.5% to 12.33m in Q1 2024, Says NBS The National Bureau of Statistics report revealed that the number of electricity consumers in Nigeria rose by 210,000 from 12.12 million in the fourth quarter of 2023 to 12.33…
According to President Bola Tinubu, Nigeria must remain committed to a balanced approach to energy transition that supports the vulnerable members of society.
The tightening of the Central Bank of Nigeria’s (CBN) monetary policy has lead to a lack of liquidity in the banking system. As a result, in just three weeks in June 2024, several Nigerian banks and merchant banks have borrowed an…
Motorists in North-east Stranded as Over 1,800 Filling Stations Shut Down – IPMAN The Independent Petroleum Marketers Association (IPMAN) says nearly 2,000 petrol outlets in North-east were shut yesterday in protest of an anti-smuggling…
NGX Slams N76.8m Fine On Nine Firms The Nigerian Exchange Limited (NGX) has imposed a N76.8 million fine on nine quoted companies for failure to file their audited financial statements after the regulatory due date. A report by…