October 25, 2023
Nigeria: Nigerian Breweries Reports N57 Billion Loss After Big Blow From Naira Devaluation
Shares in the company depreciated by 2.6 per cent at market close on Wednesday at N38 per unit. Read more »
Nigeria: Reps Probe $1.25 Billion Intervention Fund in Power Sector
The lawmakers noted that the federal government made several financial interventions in the sector, yet Nigeria does not have an adequate electricity supply. Read more »
Nigeria: Flight Cancellations - Reps Condemn Ill-Treatment of Passengers By Airlines
The lawmakers asked the aviation authorities to develop policies and regulations to protect and preserve the rights of air travellers in Nigeria and ensure stringent… Read more »
Nigeria: Business Cabals Holding Down Nigeria's Economy - Lai Omotola
He argued that when there is a gap of over N300 in the exchange rate, speculators would make a huge return even at the detriment of the nation's economic development. Read more »
Nigeria: Oil Theft - Navy Deploys 10 Warships, Helicopters to Nigeria's Waters
The Nigerian authorities have been struggling to curb oil theft in the Niger Delta region. Read more »
Nigeria: Niger State to Boost Agriculture With N3.5bn Development Fund - Official
The initiative is aimed at boosting agriculture. Read more »
Nigeria: Labour, Cross River Govt Disagree On Pension Scheme
The workers staged a walkout on a government delegation. Read more »
Nigeria: Tinubu to Present 2024 Budget in November - Senate
The Senate assured that the Tinubu administration will sustain the January to December budget cycle. Read more »
Nigeria: Oil Theft - 149 Incidents Recorded Across Niger Delta in One Week - NNPCL
"In some areas of the Niger Delta, it's become a warfare of sorts," the NNPCL said. Read more »
Nigeria: Export-Driven Economy Only Way to Fix Naira Crisis - Moghalu
Mr Moghalu disclosed this while speaking at the just concluded 29th National Economic Summit in Abuja. Read more »
Nigeria: Flights Resume At Kaduna Airport After Months of Shutdown
The Kaduna airport was shut in March 2022, after a terrorist attack. Read more »
October 24, 2023
Nigeria: Nigerian Oil Industry Is On Steady Growth - Wabote
Mr Wabote, an engineer gave the assessment on Monday while delivering the keynote address at the 3rd Biennial International Conference on Hydrocarbon Science and Technology,… Read more »
Nigeria: Senate Justifies Purchase of Luxury Vehicles Amidst Economic Hardship
There has been public outrage over the plan by the federal legislature to buy vehicles for its members despite the bad state of the nation's economy. Read more »
Nigeria: Nigerian Govt Seeks Home-Grown Solutions to Address Petroleum Industry Challenges
"My expectation is for us to come up with our home-grown solution to address our problem in the petroleum industry," an official said. Read more »
Nigeria: Nigeria Needs Substantial Gas to Meet Electricity Demand - Minister
Nigeria has struggled with poor power supply for decades, a challenge that is estimated to cost businesses about $29 billion yearly, according to the World Bank. Read more »
Nigeria: Senate Probes N11.35 Trn Spent On Rehabilitation of Refineries
The Senate noted that despite the moribund state of the nation's four refineries, their operating costs between 2010 and 2020 were estimated at N4.8 trillion Naira. Read more »
Nigeria: Nigeria Expects $10 Billion Forex Inflows in Weeks - Minister
"...there is a line of sight of $10 billion worth of foreign exchange in the relatively near future in weeks rather months," Mr Edun said. Read more »
Nigeria: Marketers Blame Terminal Operators for Rising Price of Cooking Gas
"As of today, gas is sold by these terminal owners for N16.8 million for 20 metric tonnes whereas NNLG sells to them for a little bit less than N9 million." Read more »
October 23, 2023
Nigeria: Tinubu Appoints New CEO for Energy Commission of Nigeria
President Tinubu expects the new ECN Chief Executive to make a positive impact on his administration's intensive push to diversify the nation's energy sources. Read more »
October 24, 2023
Nigeria: Tinubu Promises to Address Challenges in Financial Markets
"My government is not blind to the challenges several of you are facing in the financial markets", Mr Tinubu said. Read more »
Nigeria: Despite Petrol Subsidy Removal, Crises Linger in Nigeria's Downstream Sector
The crises hampering operations in the oil sector linger as Nigerians continue to lament the ripple effect of high pump prices. Read more »
October 23, 2023
Nigeria: Only 1,300 Doctors Attending to Kano's 15 Million Residents
The World Health Organisation (WHO) recommends one doctor to 600 patients. Read more »
Nigeria: Nigeria Wins As UK Court Dismisses $11 Billion P&ID Suit
The UK court upheld Nigeria's prayer on the ground that the ill-fated gas processing contract was obtained by fraud. Read more »
October 22, 2023
Nigeria: Pipeline Contract - Group Cautions Ex-Militants Against Sabotaging Tompolo
Some ex-militants in the region had criticised the recent extension of the pipeline surveillance contract awarded to Tantita Security Services led by Government Ekpemupolo,… Read more »
Nigeria: Implications of Central Bank's Revised Forex Policy On Food Security
Some experts express mixed feelings about the impact of the CBN policy on the state of food security in the country. Read more »