The FG has announced that the loading of the first batch of PMS from the Dangote Refinery will commence on Sunday, 15th September, by NNPC. “I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday 15th September” –…
Labour Party’s Peter Obi emphasizes the need for Nigerian politicians to lead by example in reducing wasteful spending In a recent exclusive interview, Peter Obi, the Labour Party’s 2023 presidential candidate, urged President Bola Tinubu’s administration to cut governance costs as a measure to curb the growing wastefulness in government spending. Obi emphasized that the…
Nigeria’s Accountant General outlines revenue distribution for June 2024, detailing allocations to federal, state, and local governments. Nigeria’s Office of the Accountant General of the Federation has published a detailed summary of the June 2024 Gross Revenue Allocation, providing insights into how funds were distributed among various governmental bodies. The report, issued by the Federation…
Why demanding everything for free could hinder Nigeria’s economic progress, according to President Tinubu. President Bola Tinubu has urged Nigerians to reconsider their expectations of receiving goods and services for free, emphasizing that this mindset hinders “Nigeria’s economic development.” Speaking during a meeting in China with the Nigerian community, he pointed out that while the…
Naira Weakens to N1,660 in Parallel Market as Gap with Official Rate Widens The Naira down to N1,660 in the parallel market marks a significant depreciation from its previous level of N1,645 per dollar last Friday. This downturn highlights the growing pressure on the Nigerian currency, which continues to fluctuate in informal markets. However, despite…
Aba businesses are experiencing significant growth, thanks to ongoing infrastructure improvements in the city. Under Governor Alex Otti’s leadership, these developments are reshaping the commercial landscape of Abia State’s most prominent business hub. This transformation has enhanced the ease of doing business, attracting investors and ensuring that Aba’s bustling markets, like Ariaria International and Ekeoha…
In a remarkable financial turn, Company Income Tax revenue in Nigeria surged by 151% during the second quarter of 2024, climbing from N984.61 billion in Q1 to an impressive N2.47 trillion. This significant growth, reported by the National Bureau of Statistics (NBS), reflects the increasing contributions from both local and foreign companies. This leap highlights…
The Central Bank of Nigeria raises N9.27 trillion through NTBs, driven by investor demand for longer maturities and higher yields. In a move to meet rising investor demand, the Central Bank of Nigeria (CBN) successfully raised N9.27 trillion through Nigerian Treasury Bills (NTBs). The strong interest in NTBs in Nigeria reflects investors’ appetite for longer…
FCT Residents Express Frustration Over Difficulties in Locating Subsidised Rice Sales Points Residents of Nigeria’s Federal Capital Territory (FCT) are finding it increasingly difficult to access the N40,000 subsidised rice, an initiative launched by the government to alleviate food costs. Although the sale of 30,000 metric tonnes of milled rice at this reduced rate was…
Chiefs Lead Effort to Regulate Prices in Agbalata Market, Badagry In a bold move to control rising costs in Badagry, Lagos, local traditional leaders have taken direct action to regulate food and goods prices at Agbalata Market. The intervention follows directives issued by the Aholu Menu Toyi 1, traditional ruler of Badagry, who disbanded the…
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