The Federal Capital Territory (FCT) Minister, Nyesom Wike, has called on Nigerians to pay taxes for government revenue, emphasizing that the government needs financial resources to provide essential services. Speaking at the Abuja Business and Investment Summit on Wednesday, Wike highlighted the importance of tax payments in sustaining public services. During the summit, themed Optimising…
Tinubu’s tenure as petroleum minister has seen an astronomical rise in fuel prices, severely impacting Nigerian citizens already facing economic hardship When President Bola Tinubu took office in May 2023, many Nigerians had high hopes for better governance, but PMS prices under Tinubu have continued to soar, contrary to his campaign promises. His administration has…
Minister of Finance Outlines Economic Reforms Aimed at Supporting the Most Needy Through Direct Cash Transfers The Nigerian government, under the leadership of President Bola Tinubu, has announced plans to initiate direct cash transfers to 20 million of the nation’s poorest citizens. This initiative forms part of a broader social investment strategy designed to cushion…
World Bank presents a seven-point strategy to Nigeria for long-term economic growth, emphasizing equitable distribution of oil wealth to benefit the broader population The World Bank has called on the Nigerian government to prioritize oil wealth for Nigerians’ welfare, encouraging leaders to channel the country’s abundant oil revenues towards benefiting all citizens rather than just…
Widespread blackout reported after another national grid collapse, with power disruptions across several states Nigeria has once again been plunged into darkness following a collapse of the national grid on Monday, October 14, 2024. This latest grid failure has resulted in widespread power outages across the country, disrupting daily activities and adding to the existing…
Following the Department of State Services’ intervention, the Nigerian National Petroleum Company Limited will now sell petrol to the Independent Petroleum Marketers Association of Nigeria at N995 per litre The Nigerian National Petroleum Company Limited (NNPCL) has officially agreed to supply Premium Motor Spirit (PMS) to the Independent Petroleum Marketers Association of Nigeria (IPMAN) at…
Nigerian Electricity Regulatory Commission (NERC) reveals that Benin and Togo have outstanding electricity debts totaling $5.7 million for the second quarter of 2024 Benin and Togo owe Nigeria $5.7 million in outstanding electricity payments for power consumed in the second quarter of 2024, according to the Nigerian Electricity Regulatory Commission (NERC). The unpaid sum is…
Discussions between Dangote Petroleum Refinery and marketers to finalize petrol pricing and supply agreements The Independent Petroleum Marketers Association of Nigeria (IPMAN) is preparing for key discussions with Dangote Petroleum Refinery, scheduled between Tuesday and Wednesday, to finalize agreements on the pricing and distribution of petrol from the newly operational $20 billion Lekki-based refinery. Reports…
Senator Ali Ndume warns President Tinubu against advisers promoting detrimental policies that are escalating hardships for Nigerians Senator Ali Ndume, representing Borno South, has expressed concern over the rising cost of living in Nigeria, attributing the hardship to harmful economic policies advised by certain individuals within President Bola Tinubu’s administration. The senator believes that these…
With the removal of fuel subsidies in Nigeria, many vehicle owners are considering switching to compressed natural gas (CNG) as a more cost-effective alternative. On August 19, 2023, President Bola Tinubu launched the Presidential Compressed Natural Gas Initiative (PCNGI) to encourage this transition. The government has been setting up CNG conversion centers across the country…
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