This represents a 14 percent increase in rate compared to the old rate of N1,164.84/$ previously used for the opening Form M and an increase of N162.51 on a dollar needed to clear goods at the port. This means that importers opening Form M today will require more money to […]

The average ‘Band A’ customer in Nigeria will now need as much as N170,000 for electricity per month, instead of the average of N50,000 that they were paying before now. This follows the approval of a 240 per cent increase in the tariff of ‘Band A’ power customers from N66 […]

Sen. Ned Nwoko, has advised the Federal Government and the Central Bank of Nigeria (CBN) against any measures that capable if artificially forcing the Naira to gain value against other currencies. Nwoko, who represents Delta North, advised in a statement he signed and made available to the News Agency of […]

The federal government has announced plans to set up a $10 billion diaspora fund to attract investment from citizens living abroad. In a post on social media on Thursday, Doris Uzoka-Anite, minister of industry, trade and investment, said the federal government is seeking bids from asset managers to set up the fund. The […]

The Senate through its Committee on Finance, has called for concerted efforts by all relevant stakeholders to rescue and sustain the stability of the naira. The naira persisted in its decline against the US dollar within the official exchange framework, concluding at N1,309.88 on Thursday, April 25. However, the naira, last […]

As acute petrol supply challenges enter its second week, independent marketers have explained that issues that led to the scarcity of the product would take another two weeks to be fully resolved. Checks around Abuja on Sunday showed that most stations were out of stock with very few major marketers dispensing […]

Former Governor of Jigawa State, Sule Lamido, has tackled Northern governors over their recent trip to the United States. Daily Trust had reported how the Northern governors recently traveled to the US to attend a peace summit organized by the United States Institute of Peace (USIP). Reacting to the development, Lamido, […]

FG provides Julius Berger with a N20 billion augmentation fee for the construction of the Bodo-Bonny Road The disagreement between the federal government and Julius Berger Plc regarding the halting of construction on the N200 billion Bodo-Bonny Road in Rivers State appears to have been settled with the government offering […]

President Bola Tinubu has secured a $600m investment from Danish shipping and logistics firm A.P Moller-Maersk, the presidency said on Sunday. The deal is to help in expanding port infrastructure to accommodate more container shipping services in Nigerian ports. Chairman of A.P Moller-Maersk, Mr. Robert Maersk Uggla, disclosed the decision […]

The Nigerian Ports Authority, Onne Port Complex, said it has received a big vessel, ‘Kota Cempaka’ with 566 containers. Announcing the development in a statement on Saturday, the management of NPA, said the vessel sailing under the flag of Singapore, has a length overall of 300 meters. It added that […]