Vice-President Kashim Shettima says President Bola Tinubu ended petrol subsidy and multiple exchange rates in the official market because they were producing billionaires overnight. Shettima spoke during a courtesy visit by a delegation of the Lagos Chamber of Commerce and Industry (LCCI) led by Gabriel Idahosa, president of the chamber, […]

Oil marketers are gearing up to load refined petroleum products from the Port Harcourt Refining Company, as workers at the facility race to get it set for production on the directives of the Nigerian National Petroleum Company Limited. Dealers confirmed on Friday that the PHRC was almost set to start releasing […]

https://www.youtube.com/watch?v=gkMO_WQxxP0?si=mJSVyuLda0sy1CQi Busola Kukoyi @KukoyiBusola PRESS RELEASE FIRST LADY OLUREMI TINUBU SLIPS NAVY PATROL VESSELS INTO WATER Says President Tinubu is committed to a more secure, prosperous nation The Nigerian Navy has been described as a strategic enabler to poverty eradication especially through the enormous potentials of the blue economy. This […]

The Nigerian National Petroleum Company Limited and its Joint Venture partner in OML 85, First Exploration and Petroleum Development Company Limited have commenced oil production from the asset, also known as Madu Field. Production from the field which is located in shallow waters offshore Bayelsa State and operated by First E&P is […]

The Nigeria Customs Service (NCS) has reduced the exchange rate for import duties collection from N1238.1 to the dollar to N1,147/$. This represents a decline of N91.1 since the last reduction on April 10th April. The customs exchange rate for duties collection has stayed at N1238/$ for over a week […]

The Federation Account Allocation Committee has disbursed a total of N1.123tn to the federal, state, and local governments for March 2024. The allocation, derived from a gross total of N1.867tn, marks a critical distribution of funds aimed at supporting various government tiers. States to get N5.5tn FAAC allocations in 2024 […]

The bid by Africa’s richest man, Aliko Dangote, to merge his sugar, salt and rice companies into one for improved efficiency and robust consolidation will not proceed for now. Integrating the entities would have enabled Dangote Sugar, Nascon Allied Industries (already listed on the Nigerian Exchange (NGX) and the billionaire’s less-known […]

*What’s heartbreaking about Africa The International Monetary Fund (IMF) has explained why it advised Nigeria to remove fuel subsidies, adding that the subsidy regime was robbing the poor for the rich. The Director of the African Department of the Fund, Mr. Abebe Selassie, provided insights into the organisation’s position, at […]

There are indications that prices of goods and services may not come down soon despite the speedy appreciation of Naira against major foreign currencies in recent weeks. On Thursday, US Dollars traded for N1,060, about N840 gain against N1,900 to US Dollar peak in February this year. But Vanguard findings […]

The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, has affirmed that Nigeria now has the capacity and materials to manufacture Made-In-Nigeria cars for local use and export. With the enabling environment being provided by the government, she said manufacturers should be held responsible if the cars are not […]