August 29, 2022
Nigeria: Diaspora Remittances Through Naira4Dollar Scheme Hits $2.4bn in Eight Months - CBN
The Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr. Ozoemena Nnaji has revealed that diaspora remittances through the 'Naira 4 Dollar Scheme' stood at… Read more »
Nigeria: Lagos State Attracts $1.5bn Investment in Technology in 5 Months
The Commissioner for Economic Planning and Budget Lagos State Sam Egube, has stated that the investment inflow into Lagos State's technology space has hit over $1.5 billion in five… Read more »
August 28, 2022
Nigeria: I'm Committed to Virtues of Integrity, Transparency, Social Justice - Osinbajo
Vice President Yemi Osinbajo has stressed his personal commitment to virtues of integrity, transparency and social justice. Read more »
Nigeria: IMF Team Visits Nigeria, Establishes Fiscal Monitoring Framework
An International Monetary Fund (IMF) capacity development mission has visited Nigeria in a strategic move to support the Fiscal Responsibility Commission (FRC) in establishing a… Read more »
August 25, 2022
Nigeria: Domestic Airline Operators Accuse Foreign Carriers of Ripping Off Nigerians With Outrageous Fares
The Airline Operators of Nigeria (AON) has accused foreign carriers operating in Nigeria of charging fares at prevalent parallel market foreign exchange naira to dollar rate and at… Read more »
Nigeria: Nigeria Seeks $10bn Package From International Partners for Energy Transition Plan - Osinbajo
The Vice President, Prof. Yemi Osinbajo has declared that Nigeria is seeking $10 billion from international partners to fund the nation's new Energy Transition Plan. Read more »
August 24, 2022
Nigeria: Amidst CBN Directive to DMBs, Credit to Private Sector Up N4.69trn to N39.87trn
Following the Central Bank of Nigeria (CBN) mandate to Deposit Money Banks (DMBs) to improve lending to the real sector of the nation's economy, credit to private sector has so far… Read more »
Africa: China to Pick 17 Countries for Debt Forgiveness, Redirect U.S.$10 Billion in IMF Funds
China, the largest government creditor to emerging economies, has said it will forgive 23 interest-free loans to 17 African countries and redirect $10 billion of its International… Read more »
Nigeria: Eight Months After Winning Licence, MTN Rolls Out 5G Today
Having won the 3.5GHz spectrum licence for 5G network rollout since December last year, coupled with the issuance of 5G spectrum licence in May this year, MTN Nigeria… Read more »
August 23, 2022
Nigeria: $33m Azura Power Deal - House Committee Invites Ministers of Finance, Power, BPP Others
The House of Representatives' Committee on Finance has invited the Ministers of Power, Finance, heads of Bureau of Public Procurement (BPP), Niger Delta Power Holding Company… Read more »
Nigeria: There's No Way Illegal Refineries Can Be Converted to Regular Facilities - Kyari
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari, yesterday poured cold water on calls for the legalisation of… Read more »
Nigeria: Nigerian Govt Begins Talks With Airlines Over Trapped Funds
The Minister of Information and Culture, Alhaji Lai Mohammed has said relevant authorities are working towards addressing issues concerning revenue of foreign airlines that have… Read more »
August 19, 2022
Nigeria: Shell - Why We Halted Onshore Divestment
One of Nigeria's leading energy giants, Shell Petroleum Development Company of Nigeria Limited (SPDC) has disclosed that the Shell Group would not go ahead with the divestment of… Read more »
Nigeria: Nigeria Recorded Positive $2.6bn Trade Balance With Indonesia in 2021
Nigeria recorded a favourable trade balance of $2.6 billion in its bilateral trade relationship with Indonesia in 2021. Read more »
Nigeria: Govt Bans Telcoms, Digital Payment Operators From Providing Services to Unregistered Online Lenders
The federal government has barred all mobile network operators, telecoms service providers and digital payment systems providers in Nigeria from rendering services to unregistered… Read more »
Nigeria: 13 Dead, Scores Injured in Plateau, Kogi Road Accidents
At least 10 persons have died and scores injured on Wednesday night in an auto crash involving a trailer truck and six other vehicles along the Jos-Bauchi highway. Read more »
Nigeria: How I Will Lead Nigeria Out of Current Electricity Challenges - Atiku
Former Vice President and Peoples Democratic Party (PDP) presidential candidate in the 2023 general election, Abubakar Atiku, yesterday outlined how he will lead Nigeria out of its… Read more »
Nigeria: Bleak Future for Aero, Arik Air - AMCON
Asset Management Corporation of Nigeria (AMCON) took over Nigeria's foremost carrier, Aero Contractors and a promising airline, Arik Air, after taking over Nigeria Airways Limited… Read more »
August 18, 2022
Nigeria: World Bank Approves $5.9m for Acresal Project Take-Off in Bauchi
The World Bank has approved the sum of $5.9 million for the take-off of the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) Project in Bauchi State. Read more »
Nigeria: In Bid to Avoid Promotion Interview, Electricity Union Throws Nigeria Into Total Blackout
Power sector workers yesterday made good their threat to embark on a nationwide strike, shutting down power stations countrywide and setting off another electricity grid collapse… Read more »
August 17, 2022
Nigeria: Gombe Approves N10bn Road Construction Projects
The Gombe State Executive Council has approved the construction of 17 township roads valued at N8.8 billion. Read more »
Nigeria: CBN Raises Interest Rate On Naira Savings Deposits to 30% of MPR
The Central Bank of Nigeria (CBN) has announced an upward adjustment of the negotiable minimum interest rate payable on local currency savings deposits to 30 per cent of the… Read more »
Nigeria: Discos Alert On Nationwide Blackout As TCN Begs Workers to Suspend Planned Strike
The Electricity Distribution Companies (Discos) have alerted Nigerians to a likely nationwide blackout as the Transmission Company of Nigeria (TCN) yesterday begged workers in the… Read more »
August 16, 2022
Nigeria: Rising Food, Commodity Prices Drive Inflation to 19.64 Percent
The Consumer Price Index (CPI) which measures the rate of change in prices of goods and services increased to 19.64 per cent in July, compared to the 18.60 per cent it was the… Read more »
Nigeria: Oil Marketer Laments Fx Scarcity, Inadequate Delivery Ships On Product Marketing
Downstream oil and gas operator, Eterna Plc has lamented the effect of the intractable scarcity of foreign exchange (FX) and the inadequate number of delivery ships technically… Read more »