November 03, 2023
Nigeria: CBN Begins Clearance of $10bn Forex Backlogs of Foreign Airlines, Others
The Central Bank of Nigeria (CBN), has started clearing over $10 billion foreign exchange backlogs of commercial banks and foreign airline operators. Read more »
Nigeria: $321m, N18.2bn Loans - Lawmakers Summon CBN, Electricity Distribution Companies, Others
The House of Representatives has summoned the Central Bank of Nigeria (CBN), 11 electricity distribution companies (DisCos) and contractors over $321 million and N18.2 billion… Read more »
November 02, 2023
Nigeria: Dangote Refinery Begins Operations December
The 650,000-barrel-per-day Dangote Refinery is expected to commence operations with up to six cargoes of crude oil to be supplied by the Nigerian National Petroleum Company Limited… Read more »
November 03, 2023
West Africa: Using West Africa Capital Market to Bridge Infrastructure Deficit in Region
Infrastructure investments in West Africa have not kept pace with growth in demand, creating a huge deficit. Read more »
November 02, 2023
Nigeria: We Have Sufficient Stock of Naira Notes - Central Bank
The Central Bank of Nigeria (CBN) has said that it has enough volume of banknotes to go around against backdrop of the approaching festive period, dismissing the allegations of… Read more »
Nigeria: Award 25% of Contracts to Small Businesses, SMEDAN Charges Govt
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) on Wednesday in Abuja appointed the federal government to award 25 per cent of its contracts to Small and… Read more »
November 01, 2023
Nigeria: New CBN Forex Policy Threatens N12trn Poultry Industry - Operators
The over N12 trillion, including 20 million jobs created in Nigeria's poultry industry, is facing collapse following the new forex policy and the lift in the ban on imported… Read more »
October 26, 2023
Nigeria: Nigerian Govt Forced Us Into Nigeria Air - Ethiopian Airlines
The Group Chief Executive Officer of Ethiopian Airlines, Mesfin Tasew, has accused the immediate past administration of ex-President Muhammadu Buhari of forcing the Nigeria Air… Read more »
October 27, 2023
Nigeria: AfDB, Partners Vote U.S.$1 Billion to Fund Nigeria's Agro-Industrial Zones in 24 States
It was yet another bountiful harvest for the President Bola Ahmed Tinubu administration in its investment drive, as the African Development Bank (AfDB), Islamic Development Bank… Read more »
October 30, 2023
Nigeria: Alternative Fuel - Federal Govt Fast-Tracks CNG Adoption
To fast-track the adoption of Compressed Natural Gas (CNG) in Nigeria, the federal government has inaugurated a Compressed Natural Gas (CNG) vehicles pilot conversion centre in… Read more »
Nigeria: Nigeria Loses Billions of Naira to 70 Lagos-Abidjan Checkpoints
Nigeria is losing hundreds of billions of Naira annually as a result of about 70 illegal checkpoints mounted on the Lagos-Abidjan and Atan-idiroko corridors by the Nigeria Police… Read more »
Nigeria: ENL Consortium, Chinese Port Operator Sign Trade, Investment Agreement
ENL Consortium Nigeria Limited has signed an agreement with Chinese port operator, Lianyungang Port Holding Group Ltd to deepen investment at the Lagos Port Complex, Apapa and… Read more »
Nigeria: Again, Polaris Wins Nigeria's Best Digital Bank Award With Vulte
Polaris Bank shone brightest over the weekend as its bespoke home-grown digital bank, VULTe won for the third time, Nigeria's 'Best Digital Bank of the Year' prize at the… Read more »
Nigeria: Again, Federal Govt, Labour Meet On Palliatives Today
The organised labour will today meet with representatives of the federal government to discuss the implementation of the Memorandum of Understanding (MoU) signed by both parties in… Read more »
Nigeria: 4000 Vessels, 72,000 Seafarers Visit Nigerian Ports Annually - NPA
The Nigerian Ports Authority (NPA), has disclosed that 4000 ocean going vessels visit the nation's seaports annually. Read more »
Nigeria: Taraba Boat Mishap - 15 Bodies Recovered, Others Missing
Fifteen bodies have been recovered and many more are feared missing as a boat carrying over 100 passengers capsized mid-water at Benue River on Saturday. Read more »
October 28, 2023
Nigeria: Kano Governor Presents U.S.$444 Million Budget to Assembly
Kano State Governor Abba Kabir Yusuf yesterday presented his maiden budget of N350 billion for 2024 to the State House of Assembly. Read more »
October 27, 2023
Nigeria: Experts Say De-Dollarising Economy Will Halt Naira Free Fall
Amid rising free fall of the Naira both at the official Nigerian Foreign Exchange Market (NAFEM) and the unofficial market, financial experts have called on the Central Bank of… Read more »
October 25, 2023
Nigeria: Govt's New Policy to Ease Tax Burden On Poor Nigerians - Oyedele
The Presidential Committee on Tax Reforms and Fiscal Policy has proposed a substantial reduction in Nigeria's extensive list of taxes and levies, which currently surpasses 60,… Read more »
Nigeria: Senate Investigates N11.35trn Spent On Moribund Refineries
The Senate has commenced investigation of all the contracts awarded for the rehabilitation of Worri, Port Harcourt and Kaduna refineries where N11.35 trillion was spent in 13… Read more »
October 24, 2023
Nigeria: Nigerians Are Getting Poorer By the Day
What the continuing and relentless drop in Naira value means is that all citizens are getting poorer by the day. Whether you are rich or poor, you are getting poorer. Read more »
October 20, 2023
Nigeria: Rights Group Tasks NNPC On Oil Sector Repositioning
A human rights group, Coalition for Good Governance and Open Leadership in Nigeria has urged the management of the Nigerian National Petroleum Corporation (NNPC) to support… Read more »
October 18, 2023
Nigeria: Ogun to Take Over Lagos-Ota-Abeokuta Road Project
Ogun State government has declared its readiness to take over the construction of the Lagos-Ota-Abeokuta Road from the federal government and transform it into a world-class… Read more »
Nigeria: Federal Govt Pays N135bn Electricity Subsidy to Stop Tariff Hike
The federal government paid a total of N135.23 billion to subsidise electricity consumption in the second quarter of 2023, the Nigerian Electricity Regulatory Commission (NERC) has… Read more »
October 17, 2023
Nigeria: Tinubu Urged to Position Nigeria to Tackle Climate, Debt Crises
A group, Africa Network for Environment and Economic Justice (ANEEJ), has said that despite a report that Nigeria and 10 other Economic Community of West African States (ECOWAS)… Read more »