The Federal Government has uncovered agencies which pay it in naira after collecting revenue in dollar. It has launched a probe into the agencies’ “fraudulent activities”, Cross River State Governor Ben Ayade told reporters yesterday […]
A FEW weeks ago, 27 states of the Federation were listed to have applied to the Central Bank of Nigeria (CBN) for bailout funds. That was after many months of grappling with a parlous financial […]
THE failure of the Federal Government to honour its obligations under the Public Private Partnership (PPP) arrangement for the conversion of the Federal secretariat to resident apartments for Nigerians in the Diaspora cost the concessionaire […]
MEMBERS of the House of Represen-tatives, yesterday, mandated the committee on transport to probe the N18 billion contracts awarded for the rehabilitation of rail tracks, standard gauge, bridges, coaches, wagons and locomotives between 2010 and 2014. […]
Inflation rate climbed to the highest in more than two years last month as food prices surged, exceeding the Central Bank of Nigeria’s (CBN’s) target for a fourth month. Inflation accelerated to 9.4 per cent […]
There is an indication that the Presidency has reversed itself on the petroleum ministerial position. The portfolio will now have no minister, while a ministerial nominee in the person of Emmanuel Kachikwu, current Managing Director […]
The British government has pledged to support Nigeria’s effort towards ensuring stability and development with a commitment worth N65 billion. The country’s minister for Africa, Grant Shapps, said on arrival in Abuja on his maiden […]
Hope of seeing a rebound of oil price from its current low level may not materialise soon, as the Organisation of the Petroleum Exporting Countries, OPEC, has predicted that the price will not rise until […]
The Nigerian National Petroleum Corporation (NNPC) has debunked reports of reduction in pump price of petrol from N87 per litre to N57. Describing the report as false, the oil firm advised the public to ignore […]
The Central Bank of Nigeria (CBN) will continue to deny importers access to foreign exchange (forex) to bring in goods which can be produced locally, its Governor, Mr Godwin Emefiele, has said. Emefiele, who made […]
The Federal Government has entered into a partnership with an original equipment manufacturer, OEM, TE Connectivity, to cut down on technical losses in the electricity sector and boost Nigeria’s quest for the attainment of 20,000 […]
Yearly revenue from egg sales adds N620 billion to Nigeria’s economy, the Poultry Association of Nigeria (PAN) said at the weekend. The association said the industry produced about one billion eggs per annum valued at […]
President Muhammadu Buhari and his Tanzanian counterpart, Dr. Jakaya Mrisho Kikwete, have hailed businessman Aliko Dangote for stimulating African economy through his investments. Dangote’s investments, the two leaders said, were sustaining the continent’s economic […]
Africa needs about N100 billion yearly to address its infrastructural challenges, the President, African Development Bank (AfDB), Dr. Akinwunmi Adesina, has said. Adesina, who spoke in Lima, Peru, at a $90 million financing arrangement for […]
The Federal Government has earned $3.420billion in eight months (January-August) from sale of oil and gas, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, has said. A breakdown of […]
The delay by President Muhammadu Buhari’s administration to make key appointments since assumption of office has continued to cause anxiety in the economy particularly with unprecedented decline in foreign and domestic investments. Mr. Johnson Chukwu […]
Three weeks ago, I wrote a column titled ‘Rich country, poor people’ in which I lamented the disconnect between our resource rich country and its poor people. I also lamented the nonchalant wastefulness of our […]
The International Monetary Fund (IMF ) Friday called for further devaluation of Naira and remove all import restrictions as part of strategies to further strengthen the country’s economic adjustment programmes with realities of the current […]
Nigeria lost $966 million to crude oil swap deal between 2009 and 2012, the Nigeria Extractive Industries Transparency Initiative said Friday. NEITI’s Communications Director, Orji Ogbonnaya-Orji, made the disclosure in Lagos at a forum on […]
Nigeria lost $966 million to crude oil swap deal between 2009 and 2012, the Nigeria Extractive Industries Transparency Initiative said Friday. NEITI’s Communications Director, Orji Ogbonnaya-Orji, made the disclosure in Lagos at a forum on […]
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