Ethiopian Airlines is the preferred bidder for Nigeria Air, the Nigerian government said Friday, as it prepares for the commencement of operations of Nigeria’s new national carrier. Aviation Minister Hadi Sirika said at a press briefing in Abuja that Nigeria Air [...]
The Federal Government’s total debts and contingent liabilities have hit N60.9 trillion even as the figure could balloon to near N65 trillion before the end of the year, as President Muhammadu Buhari-led administration scrambles for any available funds to survive [...]
The Federal Government on Tuesday night said the electricity supply under the administration of the President, Major General Muhammadu Buhari (retd.), has improved tremendously compared to what it used to be in the past years. The Presidential spokesperson, Femi Adesina, stated [...]
The presidential candidate of Labour Party, Peter Obi, yesterday, said government was behind oil theft in the country. Obi, who was the guest speaker at the second in the series of Private Sector Economic Forum of the Lagos Chamber of [...]
The Debt Management Office (DMO) said Nigeria’s total public debt stock, which was N41.60 trillion ($100.07 billion) in March, rose to N42.84 trillion (103.31 billion dollars) by June. According to a statement obtained from DMO’s website on Tuesday, the total debt represents [...]
The 36 state governors yesterday commenced a brainstorming session on how to improve their internally generated revenue (IGR) and block tax leakages. Also, it emerged yesterday that states’ internally generated finances grew by 35 per cent from N1.31 trillion in [...]
Dearth of last mile infrastructure in Nigeria appears to be stalling full utilisation of the various submarine cable systems, which have berthed at the nation’s shores. Last-mile infrastructure means broadband facilities that serve as the final leg connecting the service [...]
At 20.52 per cent, representing the highest rate since September 2005 and still rising, Nigeria’s inflation rate may spiral above 50 per cent if prevailing socio-economic challenges and other triggers are not addressed within the shortest period, experts have warned. While [...]
Kenya has scrapped a subsidy on petrol a day after new President William Ruto said subsidies were unsustainable, in a move that could add to upward pressure on inflation. Some of the key challenges the new president faces include bringing [...]
The House of Representatives Committee on Finance has flagged the salary structure of the National Pension Commission (PenCom) and demanded its thorough scrutiny. The committee, during the interactive session on the Medium Term Expenditure Framework and Fiscal Strategy Paper, on Thursday, said [...]
While many oil and gas producing countries are maximizing the present global crisis to improve output and revenue, rising pipeline sabotage and insecurity in the Niger Delta have continued to hamper the growth outlook for Nigeria’s oil and gas export. [...]
The Senate Committee on Finance has expressed dissatisfaction with the projected N12.41 trillion budget deficit contained in the 2023-2025 MTEF/FSP. The Chairman of the Committee, Solomon Adeola (APC, Lagos), stated the position of the committee on Tuesday during the interactive [...]
South African government plans to end recurring power cuts could take at least a year to deliver results, a top executive at state energy utility Eskom has said. Africa’s most industrialised economy is set for its worst year of electricity [...]
Federal Government has charged Nigeria’s Indigenous tech-powered mobility company (NAIRAXI ) and other private sectors on the invention to deploy workable strategies aimed at tackling challenges of mass transit across the nation. This came few weeks before the new Minister [...]
Nigeria’s crude oil production fell below 1 million barrels per day (bpd) in August, figures from its regulator show, as the nation grappled with rampant theft from its pipelines. The country’s total oil and condensates output dropped to an annual [...]
The National Bureau of Statistics on Friday said Nigeria’s foreign trade fell to N12.8 trillion in the second quarter of the year (Q2’22) from N13 trillion in the previous quarter. The statistics office disclosed this in its Foreign Trade in Goods Statistics [...]
Federal Government, yesterday, vowed it would sanction foreign airlines selling tickets to Nigerians in dollars, stressing that the practice violates the country’s laws. Minister of Aviation, Hadi Sirika, disclosed this while fielding questions from reporters after the Federal Executive Council [...]
The Edo State governor, Godwin Obaseki, has described the continued importation of petroleum products into Nigeria, despite the country’s being one of the largest producers of crude oil in the world, as shameful. Obaseki said this on Sunday in Ewohimi, Esan [...]
The federal government has suspended the proposed new tax on phone calls and other telecommunications services. The Minister of Communication and Digital Economy, Isa Pantami, announced this on Monday. He said the planned excise duty on telecommunication services has been suspended. [...]
Two weeks after suspension of the nationwide strike by electricity workers that threw the nation into blackout, indications have emerged of a fresh looming strike over alleged unwillingness of government to resolve issues of unpaid entitlements to former workers of the [...]
A new report has revealed that over 78 per cent of new construction will involve smart building automation and at least one facet of Internet of Things (IoT) and other related buildings technologies in the next five years. It stated [...]
Nigeria’s bid to float a new national carrier appears to have entered the wrong time zone, with credible investors and technical partners allegedly reluctant to warm up to the high-end venture. The development, following the completion of the bid process, [...]
Mele Kyari, group chief executive officer (GCEO), Nigerian National Petroleum Company (NNPC) Limited, says the country will stop importing petroleum products by mid-2023. Kyari spoke at a press briefing at the state house in Abuja on Tuesday. He said the combination [...]
Access to high quality, reliable and sustainable water still remains low, despite considerable progress in Water Supply, Sanitation and Hygiene (WASH) sector. The country, in fact, failed to achieve the Millennium Development Goals (MDGs) for water and sanitation in 2015, [...]
Despite being shut down, there are indications that the Nigerian National Petroleum Company Limited (NNPC) may have left over N136 billion as operational deficits across its three refineries in Kaduna, Port Harcourt and Warri. This is as concerns over delivery [...]
Nigerian stocks made a fairly big advance on Thursday, on course for a positive return this week, as the main equity index added N532.2 billion or 2 per cent as sector leaders Airtel Africa and Nestle drove gain. Huge buy interests [...]
The Debt Management Office (DMO) says Nigeria needs to earn higher revenue and manage its debt profile more efficiently. The Director-General, Patience Oniha, said this in Abuja on Wednesday when she spoke with the News Agency of Nigeria (NAN). “How much revenue [...]
The day’s business had remained seamlessly for hours until sudden darkness enveloped John Okechukwu’s shop last Wednesday, disrupting the day’s operations for the young entrepreneur. Mr John, who runs a photography and general printing business—colloquially referred to as “Business Centre”—at [...]
Though MTN has expressed readiness to launch the Fifth-Generation (5G) network this month, at most this quarter, Mafab Communications has, however, got a five-month extension for the rollout of the service in Nigeria. The Nigerian Communications Commission (NCC) handed the [...]
The National Bureau of Statistics (NBS), has said the prices of selected food items increased in July. The bureau stated this in its Selected Food Prices Watch Report for July 2022, released in Abuja on Monday. The NBS stated that the average [...]
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