Business
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FG plans separate super grid for northern states
The Federal Government has announced an initiative to create an independent super grid for each of the 19 northern states.…
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FCCPC warns Nigerian banks to improve online services after disruptions
On Tuesday, October 29, the Federal Competition and Consumer Protection Commission (FCCPC) issued a warning to Nigerian banks about ongoing…
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Frustrated Nigerians urge Tinubu to dismiss Power Minister Adelabu after 11-day blackout
On Monday, October 28, many Nigerians called on President Bola Ahmed Tinubu to remove Adebayo Adelabu, the Minister of Power,…
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FG considers regional power grids to tackle outages
On Monday, October 28, the Federal Government announced plans to explore a decentralized national power grid. This new system aims…
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FG urges states to implement new minimum wage
On Monday, October 28, the Federal Government called on states that have not yet begun paying the new national minimum…
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Dangote invests over $280 million in CNG to support Tinubu’s clean energy drive
Dangote has made investments of over $280 million in Compressed Natural Gas (CNG) technology and infrastructure, in what the firm…
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Oil slumps more than 4% after Iran downplays Israeli strikes
Oil prices tumbled more than $3 a barrel on Monday after Israel’s retaliatory strike on Iran over the weekend bypassed…
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CBN aims for $1bn monthly remittances after addressing diaspora concerns
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Saturday in Washington DC stated that having…
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Kogi state gets green light for international airport
In a significant boost to the state's economic development, the Federal Ministry of Aviation and Aerospace Development has approved the…
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CBN affirms old Naira notes will remain legal tender indefinitely, dispels December 2024 deadline
The Central Bank of Nigeria (CBN), on Thursday said it does not intend to discontinue the circulation of the old…
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Canada’s central bank delivers surprising rate cut, eases borrowing costs
In a bold move, the Bank of Canada slashed its key interest rate by half a percentage point to 3.75%…
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Governor Idris approves N75,000 minimum wage for civil servants in Kebbi
On Wednesday, October 23, Kebbi State Governor Nasir Idris announced the approval of N75,000 as the minimum wage for the…
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Governor Eno sets new minimum wage to N80,000 in Akwa Ibom
On Wednesday, October 23, Governor Umo Eno announced a new minimum wage of N80,000 for workers in the Akwa Ibom…
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Customers seek compensation for losses due to unstable bank networks
On Wednesday, October 23, many bank customers expressed their frustration, calling for compensation from financial institutions after experiencing losses due…
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FG drops money laundering charges against Binance executive
The Federal Government on Wednesday withdrew the money laundering charges preferred against Binance Holdings Limited executive, Tigran Gambaryan. Binance, its…
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Witness claims Emefiele’s companies received preferential treatment in procurement fraud case
In a hearing on Monday, October 21, at an Abuja High Court, prosecution witness Mr. Stephen Gana testified that two…
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Federal government unveils cashless tolling system for Abuja-Keffi expressway
In a bid to revolutionize Nigeria's transportation landscape, the Federal Government has announced the implementation of a cashless tolling system…
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Jumia makes changes: South Africa and Tunisia to close by the end of 2024
On Thursday, October 17, Jumia announced that it will stop its operations in South Africa and Tunisia by the end…
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Nokia defies sales slump with 32% profit surge
Finnish telecoms giant Nokia posted a surprising 32% increase in net profit for the third quarter, despite an 8% decline…
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BREAKING: Lagos sets new minimum wage at N85,000
On Wednesday, October 16, Governor Babajide Sanwo-Olu of Lagos shared some exciting news! He announced that the minimum wage for…
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NDDC and NIPR aim for partnership to boost national reputation
The Niger Delta Development Commission (NDDC) has announced plans for a strategic partnership with the Nigerian Institute of Public Relations…
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National Assembly gets executive bill seeking to raise VAT to 10% by next year, report says
National Assembly is considering an executive bill proposing to raise Nigeria’s Value Added Tax from 7.5% to 10% by 2025…
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International electricity customers owe Nigeria $5.7m debt — NERC
The Nigerian Electricity Regulatory Commission revealed in its latest second-quarter 2024 report that International bilateral electricity customers in Benin Republic…
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Nigeria’s oil production to receive 40,000 bpd boost from Lagos FPSO facility
The project is expected to increase Nigeria's crude oil production by 40,000 barrels per day, bringing the country closer to…
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FG incurs N380 billion electricity subsidy bill in Q2 2024
The Nigerian Electricity Regulatory Commission (NERC) has reported that the federal government faced an electricity subsidy obligation of N380 billion…
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Nigeria’s foreign exchange inflows record significant growth in H1 2024
Nigeria's economy has witnessed a substantial boost in foreign exchange inflows, with a 41.6% year-on-year increase to $47.73 billion in…
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Fuel price: FG permits marketers to lift Dangote petrol
The Federal Government of Nigeria has announced that petroleum marketers can now purchase Premium Motor Spirit(Petrol) directly from Dangote Refinery.…
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Atiku criticizes Tinubu’s handling of fuel subsidy issues
Former Vice President Atiku Abubakar has voiced his concerns about President Bola Tinubu's management of the fuel subsidy crisis, calling…
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Marketers explain reason behind NNPCL’s latest fuel price increase
Petroleum marketers have stated that the Nigerian government has completely removed the subsidy on Premium Motor Spirit (petrol), leading to…
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FG launches ‘Convert Now, Pay Later’ platform for petrol-to-CNG conversions
On Tuesday, October 9, the Federal Government unveiled a new online platform that allows Nigerians to convert their petrol-powered vehicles…
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NNPC increases petrol price in Abuja by 15%
The Nigerian National Petroleum Company Limited (NNPC) has announced a significant increase in the pump price of petrol in Abuja,…
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CBN reaffirms authority and sets record straight, responds to misinformation about GTCO
In a robust defense of Guaranty Trust Holding Company (GTCO), the Central Bank of Nigeria (CBN) has publicly refuted false…
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CBN improves oversight of Nigerian banks operating abroad
On Tuesday, October 8, 2024, the Central Bank of Nigeria (CBN) announced that it has signed Memoranda of Understanding (MoUs)…
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Fear of confidentiality risks hinders investors from getting regular updates from startups
A new report from PR firm Wimbart shows that while investors are asking for more regular updates from their startup…
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Nigeria exempts 63 items from value-added tax to boost oil and gas industry
In a bid to revitalize the oil and gas sector, the Federal Government has announced the exemption of 63 essential…
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Youth ministry and NAICOM partner to bring one million youths into insurance sector
The Ministry of Youth Development and the Nigerian Insurance Commission (NAICOM) have signed a Memorandum of Understanding (MoU) to attract…
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Nigeria faces looming gas supply crisis, requires $20 billion yearly investment
Nigeria's energy sector is at a critical crossroads, with experts warning of a looming gas supply crisis unless urgent investments…
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Former CBN Governor Emefiele accused of bypassing procedures in naira redesign
Folashodun Shonubi, former Acting Governor of the Central Bank of Nigeria (CBN), testified yesterday that Godwin Emefiele, ex-CBN Governor, bypassed…
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Emefiele: EFCC witness says currency redesign helped the economy
On Wednesday, October 2, a witness for the Economic and Financial Crimes Commission (EFCC) named Folashodun Shonubi, who used to…
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Wike helped me become Petroleum minister – Lokpobiri
The Minister of State for Petroleum Resources, Heineken Lokpobiri, shared how Nyesom Wike, the Minister of Federal Capital Territory, played…
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