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The federal government through the Nigerian Communications Commission (NCC) has directed all telecommunications providers to shut down services in Zamfara for 14 days to address the heightening concerns of insecurity in the state. A memo signed on Friday by the Vice-chairman of the NCC, Professor Umar Danbatta disclosed this. It was addressed to the telecoms…
September 4, 2021
Estimated price tag has more than doubled in eight years National petroleum company is buying 20% stake in the project A giant oil refinery complex being built in Nigeria by a company owned by Aliko Dangote, Africa’s richest person, will cost more than double the amount originally projected. “Our capex will almost go to $19…
September 4, 2021
The Embassy of Nigeria in Bangkok, Thailand under the focused leadership of His Excellency, Ambassador Oma Djebah has advanced steps towards attracting sustainable agro-investments to Nigeria by boosting agricultural partnerships and cooperation between Nigerian and Thai agro-allied business owners. To actualize this goal in line with the federal government’s policy of ensuring food security and…
September 4, 2021
Nigeria's Gross Domestic Product (GDP) has recorded the strongest performance in over six years (since 2014), mustering third consecutive quarterly growth as the nation’s economy grows by 5.01% (year-on-year) in real terms, latest report released on Thursday by the National Bureau of Statistics (NBS) has shown. In the latest growth, the non-oil sector contributed 92.58%…
August 26, 2021
The International Monetary Fund (IMF) is set to boost Nigeria’s foreign exchange reserves with $3.35bn following the rollout of its special drawing right (SDR). Under the special drawing right, the IMF is setting aside $650 billion to provide liquidity to countries to help plug external reserves holes and curtail reliance on domestic and external facilities.…
August 24, 2021
Following ongoing moves to implement the Petroleum Industry Act (PIA) expected to fully deregulate the downstream oil sector, the Petroleum Products Pricing Regulatory Agency, (PPPRA) has said petrol price would be adjusted in a way that it would not cause hardship on consumers. The Executive Secretary, PPPRA, Mr Abdulkadir Saidu, who said this in a…
August 23, 2021
The international oil benchmark, Brent crude, dipped to its lowest since May on Thursday. The prices went on a free fall because of demand fears and the decision of the United States Federal Reserve to suspend its bond-buying programme. The decline is coming with the recent spread of the delta variant of the COVID-19 and…
August 20, 2021
Dr Aniefiok Umoren, Zonal Coordinator, South-South and South-East, Development Finance Activities, Central Bank of Nigeria (CBN), says Small and Medium Scale Enterprises (SMEs) have the potential to reduce unemployment in the country. Umoren who disclosed this in a meeting organised in collaboration with the Cross River Government and the Chamber of Commerce in Calabar on…
August 19, 2021
The Central Bank of Nigeria (CBN) has gotten permission from the Federal High Court in Abuja to freeze 86 accounts of some companies and individuals over their alleged involvement in fraudulent foreign exchange (FOREX) activities. CBN says these activities are negatively affecting the value of the Naira. The request was filed by former Attorney-General of…
August 18, 2021
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The federal government through the Nigerian Communications Commission (NCC) has directed all telecommunications providers to shut down services in Zamfara for 14 days to address the heightening concerns of insecurity in the state. A memo signed on Friday by the Vice-chairman of the NCC, Professor Umar Danbatta disclosed this. It was addressed to the telecoms…
September 4, 2021
Estimated price tag has more than doubled in eight years National petroleum company is buying 20% stake in the project A giant oil refinery complex being built in Nigeria by a company owned by Aliko Dangote, Africa’s richest person, will cost more than double the amount originally projected. “Our capex will almost go to $19…
September 4, 2021
The Embassy of Nigeria in Bangkok, Thailand under the focused leadership of His Excellency, Ambassador Oma Djebah has advanced steps towards attracting sustainable agro-investments to Nigeria by boosting agricultural partnerships and cooperation between Nigerian and Thai agro-allied business owners. To actualize this goal in line with the federal government’s policy of ensuring food security and…
September 4, 2021
Nigeria's Gross Domestic Product (GDP) has recorded the strongest performance in over six years (since 2014), mustering third consecutive quarterly growth as the nation’s economy grows by 5.01% (year-on-year) in real terms, latest report released on Thursday by the National Bureau of Statistics (NBS) has shown. In the latest growth, the non-oil sector contributed 92.58%…
August 26, 2021
The International Monetary Fund (IMF) is set to boost Nigeria’s foreign exchange reserves with $3.35bn following the rollout of its special drawing right (SDR). Under the special drawing right, the IMF is setting aside $650 billion to provide liquidity to countries to help plug external reserves holes and curtail reliance on domestic and external facilities.…
August 24, 2021
Following ongoing moves to implement the Petroleum Industry Act (PIA) expected to fully deregulate the downstream oil sector, the Petroleum Products Pricing Regulatory Agency, (PPPRA) has said petrol price would be adjusted in a way that it would not cause hardship on consumers. The Executive Secretary, PPPRA, Mr Abdulkadir Saidu, who said this in a…
August 23, 2021
The international oil benchmark, Brent crude, dipped to its lowest since May on Thursday. The prices went on a free fall because of demand fears and the decision of the United States Federal Reserve to suspend its bond-buying programme. The decline is coming with the recent spread of the delta variant of the COVID-19 and…
August 20, 2021
Dr Aniefiok Umoren, Zonal Coordinator, South-South and South-East, Development Finance Activities, Central Bank of Nigeria (CBN), says Small and Medium Scale Enterprises (SMEs) have the potential to reduce unemployment in the country. Umoren who disclosed this in a meeting organised in collaboration with the Cross River Government and the Chamber of Commerce in Calabar on…
August 19, 2021
The Central Bank of Nigeria (CBN) has gotten permission from the Federal High Court in Abuja to freeze 86 accounts of some companies and individuals over their alleged involvement in fraudulent foreign exchange (FOREX) activities. CBN says these activities are negatively affecting the value of the Naira. The request was filed by former Attorney-General of…
August 18, 2021
