August 18, 2023
Nigeria: FrieslandCampina Nigeria Expects No Early Recovery After Weakening Naira Shot Forex Expense to N18.6bn
At N18.6 billion, foreign currency costs ate up what was posted in gross profit, throwing its bottom line into a loss of N11.6 billion, the first time in five years or more. Read more »
Nigeria: Forum Charges Federal Govt to Impose 20% Tax On Sugary Beverages
High levels of sugar consumption had increased the population of obese people and also the incidence of Type 2 diabetes, cardiovascular diseases, cancer, renal problems and other… Read more »
Nigeria: Economy - Nigeria in Trouble, Help Yourselves, Nigerian Governor Tells Residents
The federal government on Thursday announced N5 billion palliative to each of the 36 states to cushion the effect of the removal of petrol subsidy. Read more »
August 17, 2023
Nigeria: Subsidy Removal - Nigerian Govt Approves N5bn for Each State, FCT
The governor of Borno State, Babagana Zulum, made the announcement in Abuja on Thursday. Read more »
Nigeria: How Seplat Drilling Rig Collapsed - NUPRC
The commission explained that the rig completed the drilling of Gbetiokun-11 for NEPL and was demobilised on Wednesday, 9 August. Read more »
Nigeria: Gov Mbah Inaugurates Committee On Payment of Outstanding Pensions for Local Govt Retirees
A similar committee was recently constituted at the state level to clear the outstanding pensions and gratuities owed to civil servants since 2006 in Enugu State. Read more »
August 16, 2023
Nigeria: NNPCL Secures $3 Billion Afrexim Bank Loan to Support Govt, Stabilise Forex Rates
The loan is also expected to help stabilise the foreign exchange market, enable authorities to meet forex demand, and improve the value of the Nigerian currency. Read more »
Nigeria: Minimum Wage - Reps Will Ensure Nigerians Get Survival Package - Speaker
The speaker said a situation where the take home pay of a large segment of the population is unable to take them home is a recipe for all manner of corruption. Read more »
August 15, 2023
Nigeria: One Dead, Three Missing As Seplat Energy Drilling Rig Collapses
An official condoled with the families and friends of the deceased Read more »
Nigeria: Inflation Hits 24.08% As Food Prices Rise
The food inflation rate increased to 26.98 per cent in July from 25.25 per cent in June. Read more »
Nigeria: Tinubu to Nigerians - There'll Be No More Increase in Fuel Price
The presidential spokesperson says Nigerians pay the least amount for petrol in West Africa. Read more »
Nigeria: Directors' Scramble for Nigeria's Best-Performing Bank Stock Quickens Ahead of Earnings Release
Sterling Financial Holdings Company has yielded 157 per cent so far this year, making it Nigeria's best-performing banking stock. Read more »
Nigeria: Ex-Managing Director of Shell Nigeria Gas Ltd Samuel Inyang Is Dead
The late engineer was a devout Catholic who was committed to charity, and was known to have set up endowment funds for the advancement of education in Nigeria. Read more »
Nigeria: CBN Disbursed N629 Billion to Farmers Under Anchor Borrowers Programme in 2022
However, the CBN report did not provide further details on the pattern of lending and farmers' compliance with the loan repayments. Read more »
Nigeria: Why We Gave ABU N1bn to Pay Electricity Debt - Govt
"...we had to bail out Ahmadu Bello University, Zaria, with about N1 billion to pay its electricity bill. The school just resumed academic sessions because they were in darkness." Read more »
Nigeria: Gas Suppliers Task Govt On Fixing Bad Roads, Modular Refineries
An official noted that flooding has ravaged many parts of the highways, causing delays for gas suppliers. Read more »
Nigeria: Oil Board Denies Plans to Raise Petrol Prices
"Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our petrol motor spirit (PMS) pump prices as widely speculated," a… Read more »
Nigeria: Witnesses Provide Reps Panel With Evidence Linking FCC Commissioners to Job Racketeering
The witnesses presented bank statements and oral evidence linking aides of different commissioners in the FCC to job racketeering. Read more »
August 14, 2023
Nigeria: WHO Red List Fails to Stem Exodus of Health Workers From Nigeria, Others
The Nigerian Association of Nurses and Midwives has reported that Nigeria now has a nurse-to-patient ratio of one nurse to about 1,160 patients, whereas the OECD average is one… Read more »
Nigeria: How to Address Nigeria's Forex Crisis - Agora Policy
The goal is to ensure that FX adjustments reflect the trends in the balance of payments in a credible manner over the near and medium term," the think-tank said. Read more »
Nigeria: Tinubu 'Very Concerned' About Naira Exchange Rate, Meets Central Bank Governor
At the meeting, both men discussed what "could be done to stabilize" the Nigerian currency and how to "improve the liquidity in the market." Read more »
August 13, 2023
Nigeria: Nigeria - a Requiem for Production? By Wole Olaoye
It is not just GlaxoSmithKline that is leaving Nigeria, it is Nigerian jobs that are growing wings! Do we love our country enough to staunch this economic haemorrhage? Read more »
August 14, 2023
Nigeria: #Under30EntrepreneursInNigeria - 'You Can Have Your Dream Body By Exercising, Eating Right' - Fitness Trainer Alessandra
"Money is not the end game for a fitness enthusiast, you have got to love it with all of your heart." Read more »
August 13, 2023
Nigeria: Central Bank's $7.5 Billion Loans From U.S. Lenders Mar Nigeria's Credit Rating
Nigeria's dollar bond due in 2030 sank 2.295 cents to its lowest level in the past one month on Friday at 83.221 cents as a crisis of confidence in the economy heightened among… Read more »
Nigeria: Nigerian Farmers Groan As Fertiliser Price Soars Despite Increased Local Production
The price increase is despite over $121 million invested by the Nigerian government in the Presidential Fertiliser Initiative (PFI). Read more »