Search Results for: Nigeria

The federal government of Nigeria, through Minister Adegboyega Oyetola in collaboration with the African Union – Interafrican Bureau for Animal Resources (AU-IBAR), is embarking on formulating a comprehensive Blue Economy Strategy. The initiative aims to tap into Nigeria’s marine resources effectively and sustainably for economic development. During a recent workshop in Abuja, Minister Adegboyega Oyetola…

In a bid to address the dynamics of petrol pricing, oil marketers have engaged in deliberations with Dangote Refinery, proposing a benchmark price of N550 per litre for petrol within the Lagos region. Alhaji Abubakar Migandi Garima, President of IPMAN, revealed that these discussions are centered around various factors including pricing mechanisms, profit margins, and…

The Central Bank of Nigeria (CBN) has implemented robust strategies to tackle surplus liquidity in the banking sector, particularly through the issuance of Nigerian Treasury Bills (NTBs) and Open Market Operations (OMO). In the first quarter of 2024, the Central Bank of Nigeria achieved remarkable success, generating a substantial N7.7 trillion. This marks a staggering…

Multichoice Nigeria Limited, a prominent provider of satellite television services across Africa, has been embroiled in a significant financial setback following a fraudulent foreign currency exchange transaction. The company reported a staggering loss of N7.9 billion due to the failed deal, sparking concerns within the business community and among its customer base. The intricate web…

President Tinubu underscored the crucial role of the private sector in Nigeria’s economic growth during an Iftar gathering in Abuja with members of the Nigerian business community. He expressed gratitude for their support and emphasized the indispensable nature of their contributions to the nation’s economy. Tinubu highlighted the private sector as the primary driver of…

The Nigerian Electricity Regulatory Commission (NERC) has taken decisive action against the Abuja Electricity Distribution Plc (AEDC) for its non-compliance with the Supplementary Order to the April 2024 Multi-Year Tariff Order. This enforcement action underscores NERC’s commitment to ensuring adherence to regulatory frameworks within the electricity sector. By imposing a fine of N200 million on…

In a recent gathering of the organized private sector in Abuja, Allen Onyema, the CEO of Air Peace, commends President Tinubu for his instrumental role in bolstering Nigeria’s business environment. With a strategic vision, President Tinubu has implemented measures that have significantly enhanced the ease of doing business across various sectors. Allen Onyema’s remarks underscore…

Governor Hope Uzodimma of Imo State has made a resolute commitment to ending crude oil theft in Nigeria, aiming for swift action. Speaking to reporters in Abuja after a crucial stakeholders meeting, Governor Hope Uzodimma outlined plans to submit the interim report of the crude oil theft and management committee to the National Economic Council…

President Bola Tinubu made a significant stride in Nigerian education reform as he signed into law the Nigeria Education Loan Fund (Student Loans) (Access to Higher Education) (Repeal and Re-enactment) Bill, 2024 on Wednesday, April 3, 2024. This landmark legislation promises to revolutionize access to higher education and foster skill development among Nigerian students and…

In a decisive blow against criminal elements, the Troops of 6 Brigade Nigerian Army launched a successful operation resulting in the demolition of a kidnappers’ den, the rescue of a victim, and the apprehension of three suspected kidnappers in Taraba State. The operation unfolded in Kofa Adamu village, located in the Takum Local Government Area,…