Business & Economy
Latest News
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Lagos-Calabar highway: FG faults Landmark title, begins N2.7bn compensation payment
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FG restricts Lagos bridges sand miners’ licences
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Govt expenditure rose by 33% in February– MPC member
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Agric imports gulp N12tn despite nine-year Anchor Borrowers scheme
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Dangote refinery gets valid operating licence soon – FG
FG gives fresh condition for gas licence
The Federal Government says it will stop granting licences to gas companies with no capacity to build pipelines for gas distribution. This, the government said, became necessary to discourage the tran...
2nd May 2024
Lagos-Calabar highway: FG faults Landmark title, begins N2.7bn compensation payment
The Minister of Works, David Umahi, has faulted Landmark Group shoreline’s title, stating that the shoreline never belonged to the property company. He faulted Landmark Group shoreline’s title at ...
2nd May 2024
FG restricts Lagos bridges sand miners’ licences
The Minister of Works, David Umahi, has directed that approval for sand mining beneath bridges in Lagos State should be restricted to a minimum distance of 10km from the centre of any bridge in the st...
2nd May 2024
Govt expenditure rose by 33% in February– MPC member
The Federal Government’s expenditure increased by 33.5 per cent in February, according to a member of the Monetary Policy Committee of the Central Bank of Nigeria, Bamidele Amoo. Amoo in his stateme...
2nd May 2024
Agric imports gulp N12tn despite nine-year Anchor Borrowers scheme
Nigeria spent about N11.6tn on the importation of agricultural products during the nine-year period which it spent over N1.1tn on the Central Bank of Nigeria-led Anchor Borrowers Programme and other i...
2nd May 2024
Dangote refinery gets valid operating licence soon – FG
The Federal Government, on Tuesday, announced that it was set to issue a fully valid operating licence to the 650,000 barrels per day capacity Dangote Petroleum Refinery. It announced this at the St...
1st May 2024
CBN stands firm on LDR policy to curb inflation
The Central Bank of Nigeria has again justified its reliance on the Loan Deposit Ratio to control the country’s rising inflation. The apex bank also said it is ready to do whatever it takes to r...
1st May 2024
N200bn debt: IPMAN threatens closure of 30,000 filling stations
Oil dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria, on Tuesday, declared that it would shut down the 30,000 stations operated by IPMAN members across the country...
1st May 2024
FG plans public engagements on tax reforms
The Presidential Fiscal Policy and Tax Reforms Committee will hold public engagements on fiscal and tax reforms starting in Lagos on Thursday. The committee’s chairman, Taiwo Oyedele, said in a stat...
1st May 2024
Alake promises gender equity in mining sector
The Federal Government through the Ministry of Solid Minerals Development has initiated a gender strategy policy for the local mining and steel sectors to foster diversity, empower women and enhance t...
1st May 2024
FG offers free ride as P/Harcourt-Aba train service debuts
The Federal Government on Tuesday inaugurated train operation on the Port Harcourt-Aba rail line for use by members of the public with four days free ride. The Minister of Transportation, Senator Said...
1st May 2024
Africa World Airlines, Paystack partner to enhance ticket purchase
Africa World Airlines has announced its strategic partnership with Paystack, a financial technology company that offers payment processing services to businesses. According to AWA, the collaboration m...
1st May 2024
Afrimedical gets W’Africa medic award
Afrimedical Manufacturing and Supplies Limited, a syringe manufacturing company, says it has emerged as the Best Syringe Company at the Medic West Africa 2024 Exhibition. In a statement, the company n...
1st May 2024
Naira rebounds as dollar supply hits $7bn in two months
Dollar supply in the official foreign exchange market reached a substantial sum of $7.3bn in the months of March and April, findings by The PUNCH have shown. This is as the naira rebounded against the...
1st May 2024
FERMA plans state-owned enterprise for road maintenance
The Federal Roads Maintenance Agency has said that it is set to establish a state-owned enterprise known as “FERMA State-Owned Enterprise” to support revenue generation for the agency. The Managin...
1st May 2024
Workers Day: Glo hails Nigerian workers
Digital telecommunications solutions provider, Globacom, has saluted Nigerian workers as the country observes this year’s edition of the International Workers’ Day. The company enjoined them to re...
1st May 2024
BDC operators arrested as naira weakens to 1,419/$
The Economic and Financial Crimes Commission on Monday conducted an on-the-spot raid at the Wuse Zone 4 area of Abuja, arresting an unidentified number of Bureau De Change operators. BDC operators tra...
30th April 2024
NERC deregulates meters prices May 1
The Nigerian Electricity Regulatory Commission on Monday released an order on the Deregulation of Meter Prices for meters deployed under the Meter Asset Provider Scheme. It said the prices of meters w...
30th April 2024
FG plans clampdown on Lagos illegal sand miners, installs CCTV
The Minister of Works, David Umahi, has said that closed-circuit television and solar lights would be installed on the Third Mainland Bridge by June to check the activities of illegal miners in the in...
30th April 2024
N15tn highway: FG mum on compensation for property owners
The Minister of Works, David Umahi, has remained silent on the amount earmarked for the compensation of property owners affected by the Lagos-Calabal Coastal Highway project. The Federal Government ha...
30th April 2024
CBN stops Opay, Palmpay, others from onboarding new customers
Some bank customers have expressed panic as the Central Bank of Nigeria bans mobile money operators including fintech firms from onboarding new customers. However, the Bank Customers Association of Ni...
30th April 2024
Shell will complete $2.4bn Nigeria assets sale June – FG
The Federal Government on Monday commenced a due diligence meeting for the proposed $2.4bn asset sale by Shell to Renaissance Africa Energy, and announced that it targets to complete the divestment ex...
30th April 2024
FG begins fresh bid rounds for oil blocks
The Federal Government on Monday announced the commencement of the 2024 oil bid rounds in accordance with the provisions of the Petroleum Industry Act. It announced this in Abuja at the first edition ...
30th April 2024
Fuel scarcity: Task force raids filling stations in Kwara
The Kwara State Government Task Force on Monday, raided some filling stations within the Ilorin metropolis, cautioning attendants against hoarding of fuel which the government says imposes needless ha...
29th April 2024
Why Nigeria's fuel crisis is a disgrace - TV analyst
The Executive Director of Citizens Advocacy for Social Economic Rights, Frank Tietie, has said it is disgraceful for Nigeria to be facing the Premium Motor Spirit crisis. Tietie said he was surprised,...
29th April 2024
Delta to begin Lagos-New York flight
United States carrier, Delta Air Lines, has said it will commence a daily service to Lagos from New York from December 1, 2024. The airline also announced that its service enhancement to Accra, Ghan...
29th April 2024
Ajene appointed new Standard Chartered Bank Nigeria CEO
Standard Chartered Bank has announced the appointment of Dalu Ajene is the Chief Executive Officer of the bank’s operations in Nigeria. Ajene takes over from Lamin Manjang, the Vice Chairman Africa ...
29th April 2024
Maersk to inject $600m in Nigerian seaports
Danish shipping and logistics company, A.P Moller-Maersk, says it will invest $600m to expand existing port infrastructure to accommodate more container shipping services in Nigerian ports. This follo...
29th April 2024
Airfares may drop as Dangote slashes Jet A1 price
Travellers in Nigeria may soon benefit from lower airfares following the drop in the price of Jet A1, the fuel used by airlines. As reported by the PUNCH, the Dangote Petroleum Refinery announced on T...
26th April 2024
20% Nigerians using Bitcoin to transact daily - Report
A report by an open-source blockchain website, Elastos on Thursday revealed that 20 per cent constituting at least one in five Nigerians are using Bitcoin to carry out transactions everyday. According...
26th April 2024
‘FG must sustain moves to stabilise naira’
The Federal Government through the Central Bank of Nigeria has been urged to sustain recent moves and policies being rolled out to stabilise the naira. The Chief Executive Officer of Pelican Valley Ni...
26th April 2024
