World Bank Reveals High Poverty Rates, Low Unemployment In Nigeria, Calls For...
A new World Bank report has shed light on Nigeria’s economic landscape, revealing that nearly half of Nigerians live in poverty, despite a relatively low unemployment rate of five percent. The report...
View ArticleNigerian Ports Authority Expresses Optimism Over Five Hundred And One Billion...
The Nigerian Ports Authority has said that its annual revenue grew to over five hundred billion naira in 2023 from three hundred and sixty-one billion naira in the prior year. The Managing Director of...
View ArticleCentral Bank Of Nigeria Allocates Over One Hundred Billion Naira Worth Of...
The Central Bank of Nigeria (CBN) on Wednesday, allocated a total of over two million bags of fertilizers, worth over one billion naira to the Federal Ministry of Agriculture and Food Security. This...
View ArticleNational Identity Management Commission Orders Investigation Into Data Breach...
The National Identity Management Commission, NIMC, has reiterated that citizens’ data is safe and secure in Nigeria’s National Identity Database. The Director General of NIMC, Abisoye Coker-Odusote...
View ArticleCustoms Foreign Exchange Duty Rate Records 1.2 Percent Decline As Naira...
The foreign exchange rate for computing import duties by the Nigeria Customs Service has recorded a further decline following the appreciation and stability of the naira at the official FX market. The...
View ArticleNaira Depreciation Pushes Nigeria’s Imports To Thirty Five Trillion Naira
Amid President Bola Tinubu’s drive to boost non-oil exports and diversify the economy away from crude oil exports, Nigeria’s total imports grew to thirty-five trillion naira in 2023, from twenty-five...
View ArticleNigeria-Morocco Gas Pipeline Project commences December 2024 says Kyari
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari has said that the Final Investment Decision for the twenty five billion naira Nigeria-Morocco Gas...
View ArticlePresident Tinubu Urges Nigerians To Patronize Local Products To Strengthen Naira
President Bola Tinubu on Friday urged Nigerians to patronize made-in-Nigeria products and services to sustain the recent gains of the naira in the foreign exchange market. He called for more...
View ArticleFederal Government Files Tax Evasion Charges Against Binance
The Federal Government has taken legal action against Binance, a prominent cryptocurrency exchange platform, in a move aimed at upholding fiscal responsibility and preserving the economic integrity of...
View ArticleCentral Bank Of Nigeria Raises Interest Rate To Twenty Four Percent
In an effort to tackle rising inflation, the Central Bank of Nigeria has raised the monetary policy rate, known as the interest rate, by 200 basis points per cent to Twenty-four point seven five per...
View ArticleFederal Government To Review Oil Firm’s Plans On Gas Flaring
The Minister of State for Environment, Dr Iziaq Salako, has said the ministry through the National Oil Spill Detection and Response Agency will be commencing periodic review of the plans of...
View ArticleSubscribers Demand Extension as Deadline Looms for SIM-NIN Linkage
With the deadline for the disconnection of telephone lines not linked to National Identification Numbers (NIN) fast approaching, subscribers have raised concerns and called for an extension of the...
View ArticleCentral Bank Of Nigeria, Law Enforcement Agencies To Supervise Banks Compliance
In an aim to prevent the influx of illicit financing into the sector, the Central Bank of Nigeria is set to closely monitor the Nigerian banking sector’s recapitalization alongside law enforcement...
View ArticleManufacturers Association Of Nigeria Says Tight Monetary Policy Worsening...
The Manufacturers Association of Nigeria, MAN, has cried out that the continuous adoption of tight monetary policy by the Central Bank of Nigeria, CBN, is worsening the competitiveness of Nigerian...
View ArticleBureaux de Change Operators of Nigeria Expresses Optimism Says Naira Recovery...
The Association of Bureaux de Change Operators of Nigeria has said that the recovery of the naira has led to a relative decrease in the prices of goods and services in the country. The president of the...
View ArticleFederal Government Increases Electricity Tariff For 20-Hour Power Supply...
The Nigeria Customs Service (NCS) has announced an increase in its revenue, generating one point three point four seven trillion naira in the first quarter of 2024. This indicates a one hundred and...
View ArticleElectricity Tariff Hike: Nigerian Electricity Regulatory Commission Unveils...
The Nigerian Electricity Regulatory Commission, NERC, has unveiled the list of areas in Lagos State where the latest electricity tariff hike will affect. The NERC through its Vice Chairman, Musliu...
View ArticleNigerian Electricity Regulatory Commission Fines Abuja Electricity...
The Nigerian Electricity Regulatory Commission, NERC, has fined Abuja Electricity Distribution Plc, AEDC, 200 million naira over tariff violations. NERC’s on Friday in a statement via its X handle said...
View ArticleBureau De Change Operators Back Central Bank of Nigeria’s Directive to Stop...
The Association of Bureau de Change Operators of Nigeria has expressed support for the Central Bank of Nigeria’s directive to banks to stop the use of domiciliary accounts as collateral for naira...
View ArticleInternational Monetary Fund Reviews Nigeria’s Economic Growth To Three Point...
The International Monetary Fund has reviewed upwards Nigeria’s economic growth forecast for 2024 from three per cent to three point three per cent. This revision was announced in the IMF’s World...
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