August 30, 2023
Nigeria: Flour Mills Annual Revenue Crosses N1.5 Trillion but Profit Barely Grows
Revenue improved by almost one-third from N1.2 trillion a year earlier. But profit for the year is nothing compared to top line in performance, seeing a sluggish single-digit… Read more »
Nigeria: Abuja Airport - Fcta to Pay N825.8m Compensation for Construction of 2nd Runway - Wike
Mr Wike said that the amount would be paid through the Federal Capital Development Authority (FCDA) for compensation and resettlement of the people of the community affected by the… Read more »
August 29, 2023
Nigeria: Nnpcl to Take Disciplinary Action Against Staff Under-Dispensing Fuel to Customers
The oil firm said this in a statement Tuesday. Read more »
Nigeria: FG Announces Payment for Community Affected By Airport Runway Construction
"As we leave here, the Federal Capital Territory, through the FCDA, will release the money approved for compensation and resettlement of those who are there," an official said. Read more »
Nigeria: Naira Depreciates On I&e Window
Naira fell at the official market on Tuesday to trade at N775.34 per dollar Read more »
August 30, 2023
Nigeria: Ogun Farmers Count Losses As Oil Spills From Vandalised Pipelines Destroy Farmlands
Many farmers in Ogun State have been forced to change occupations after oil spillage caused by vandalism of NNPC pipelines destroyed their farmlands Read more »
August 24, 2023
Nigeria: Nigeria Statistics Agency Revises Labour Data, Says Unemployment 4.1% in Q1 2023
The NBS had in March 2021 reported that Nigeria's unemployment rate rose to 33.3 per cent, translating to some 23.2 million people Read more »
Nigeria: Nigerian Troops Destroy Illegal Oil Refinery in Delta - Official
Oil theft and its negative impact on the country's economy have been a source of concern to the Nigerian government over the years. Read more »
Nigeria: Iran, Saudi Arabia, UAE, Three Others Cleared to Join Brics
The new candidates will be formally admitted as members on January 1, 2024. Read more »
August 23, 2023
Nigeria: Adhere to Requisite Standards, SON Tells Nigerian Manufacturers, Importers
Mr Oringudwen said there was nothing produced in Nigeria that would not meet international standards if Nigerians wanted to produce them. Read more »
Nigeria: Nigerian Exchange Proposes Dollar Securities for Companies Battling Forex Crunch
Part of a bigger push to help assuage the pain of sourcing the greenback, which is in limited supply in Nigeria, the drive is focusing on firms earning foreign exchange and those… Read more »
Nigeria: 103 Mini-Grids Built Across Nigeria, Says Rural Electrification Agency
"Through the NEP, over 80 mini-grids have been completed and commissioned, connecting about 32,000 households, MSMEs, and public facilities and providing clean and reliable… Read more »
Nigeria: NDDC Reacts to Alleged Non-Payment of Six Months' Salaries to Its Security Workers
Security workers attached to the commission on Tuesday threatened to carry out a peaceful protest over non-payment of their salaries. Read more »
Nigeria: Wike On First Official Assignment, Inspects Rail Transport Project
Mr Wike said transportation is one of the sectors he intends to transform in a short time to improve public transportation in the capital city. Read more »
Nigeria: Tasks Ahead of Nigeria's New Aviation Minister, Festus Keyamo
Mr Keyamo took the baton of aviation minister from Hadi Sirika, whose efforts at reform were captured under the Aviation Sector Roadmap. Read more »
August 22, 2023
Nigeria: Nigerian Governors' Forum, LGs Disagree Over Operation of Sovereign Wealth Funds
ALGON says the NSIA has refused to consult the association on the operation of the funds. Read more »
Nigeria: Toyin Falola, Babawale, Other Scholars Speak On Nigeria's Complexities At Dialogue Session
The event was the first dialogue series organised by the office of the Dean, Faculty of Social Sciences at the University of Lagos (UNILAG), Akoka. Read more »
Nigeria: IPMAN to Fed Govt - Deploy Local Technology to Tackle Nigeria's Petroleum Refining Challenges
"The new minister of state for petroleum who is from the Niger Delta should encourage the government to bring operators of the illegal refineries in the creeks to the national… Read more »
Nigeria: Nigeria's Foundering Economy to Test Mettle of New Ministers Edun, Anite, Bagudu
The three ministers have the herculean task of formulating measures to strengthen the Nigerian economy, ranging from stabilising the naira, restoring investor confidence, aligning… Read more »
Nigeria: JP Morgan Confirms Nigeria's Forex Reserves Lower Than Estimated
"Net FX reserves are significantly lower than previously estimated," the firm said in its Africa Emerging Markets Research dated 17 August. Read more »
Nigeria: FIRS Advises Shipping Companies On Tax Regularisation
The agency said all affected international shipping lines must conclude the regularisation of their outstanding tax returns no later than 31 December. Read more »
August 21, 2023
Nigeria: Subsidy Removal - Soludo Announces Palliative Measures for Anambra Residents
Nigerians are going through tough times because of the economic hardship caused by President Bola Tinubu's administration removal of petroleum subsidy. Read more »
Nigeria: Minister Assumes Office, Pledges Stable Electricity
"This responsibility weighs heavily upon us, and it is with conviction, divine guidance, and the support of President Tinubu, the National Assembly, government agencies and… Read more »
Nigeria: Lalong Assumes Office As Labour Minister, Makes Promises
"The government does not take this for granted and Mr President has directed that we move on with negotiations to arrive at amicable resolutions." Read more »
West Africa: West Africa and the Cost of Living Crises
There is also an urgent need for measures to improve access to credit, especially for economic actors lower down the ladder. Read more »