BUSINESS NEWS

The scarcity of Premium Motor Spirit, popularly called petrol, in Abuja and other northern states could persist till after Saturday’s gubernatorial elections in various states, oil marketers said on Tuesday. Petrol scarcity became severe on Monday in Abuja, Nasarawa, Niger and other states in the North, as thousands of motorists besieged the few filling stations […]

The Central Bank of Nigeria (CBN) on Tuesday said President Muhammadu Buhari’s directive on the N200 notes still stands. Buhari in his nationwide broadcast on February 16 directed the apex bank to only reissue and re-circulate the old N200 banknotes. The old N200 is expected to circulate as legal tender for 60 days up to […]

The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo said that the Federal Government has recorded more than one billion dollars’ worth of investments in the automotive industry. Adebayo said this when he featured at the 20th edition of President Muhammadu Buhari’s administration scorecard series organsied by the Federal Ministry of Information and Culture on […]

Nigeria’s public debt stock increased from N42.84 trillion (103.31 billion dollars) in the second quarter of 2022 to N44.06 trillion (101.91 billion dollars) in the third quarter of 2022. The National Bureau of Statistics (NBS), said this on Tuesday in its Nigerian Domestic and Foreign Debt Report for Q3 2022 released in Abuja. The report […]

The naira on Wednesday exchanged at 445.83 to the dollar at the Investors and Exporters window, a depreciation of 0.01 per cent, compared with the 445.80 it exchanged on Tuesday. The open indicative rate closed at N444.25 to the dollar on Wednesday. An exchange rate of N452 to the dollar was the highest rate recorded […]

The Commissioner for Education, Prof. Ngozi Chuma-Udeh has received the Eminent Personality Award from the Anambra State Association of Town Unions. The event was held at the ASATU hall, Government House Awka on Saturday 3rd December, 2022. The National President of ASATU, Barr. Titus Akpudo said Prof. Chuma-Udeh was honoured for her great dedication, commitment […]

The Federal Government, in January, projected a revenue target of N10.7trillion for the 2022 fiscal year. Ahmed, who spoke during the public presentation and breakdown of the highlights of 2022 Appropriation Bill, said the figure was 32 percent higher than the N8.1 trillion projected in 2021. The bill indicated an expected N3.6 trillion in debt servicing. The […]

The Federal Government says the contribution of non-oil revenue to financing the federal budget has risen to 73 percent. In the light of this, Minister of Finance, Budget and National Planning, Zainab Ahmed, said Nigeria is in good economic standing and not broke. Speaking on Thursday at the sixth edition of President Muhammadu Buhari’s Scorecard […]

The presidency on Friday said that nine oil-producing states have received 13 per cent derivation totalling N625.43 billion, subsidy and SURE-P refunds from the Federation Account in the last two years. In a statement, the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, listed the states to have received the refunds […]

The Senate has resolved to provide legislative support to the Central Bank of Nigeria (CBN) for the redesign of the N1,000, N500 and N200 naira notes. The upper chamber made this resolution after a heated debate on a motion moved by Senator Uba Sani on CBN’s policy to redesign the three naira notes. Majority of […]