Category: Economy

CBN Sells FX To BDCs At N1,251/$1
March 26, 2024 No Responses

CBN Sells FX To BDCs At N1,251/$1

As the naira gradually appreciates against the dollar after months of unprecedented uncertainties, the Central Bank of Nigeria (CBN), on Monday, announced the sales of $10,000 to each of the eligible Bureau De Change (BDC) operators in the country at...
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Edo Woos More Private Investors In Solid Mineral Deposits, Others  
March 25, 2024 No Responses

Edo Woos More Private Investors In Solid Mineral Deposits, Others  

The Edo State Commissioner for Mining and Energy, Enaholo Ojiefoh, has said that the State has surplus solid mineral deposits to host more than 20 more mega plants like the ones set up and operated by Dangote Group and BUA...
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Aliko Dangote Foundation Launches National Food Intervention Programme
March 24, 2024 No Responses

Aliko Dangote Foundation Launches National Food Intervention Programme

Aliko Dangote Foundation, has launched its National Food Intervention Programme, aimed at distributing over one million 10kg bags of rice across the 774 local government areas of the 36 states and Federal Capital Territory in Nigeria.The initiative is a crucia...
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NGX RegCo, Financial Reporting Council, Unveil Report On Adoption Of Sustainability Reporting Standard
March 24, 2024 No Responses

NGX RegCo, Financial Reporting Council, Unveil Report On Adoption Of Sustainability Reporting Standard

The regulating body of the Nigerian Exchange Group, the NGX Regulation Ltd. (NGX RegCo) and Financial Reporting Council of Nigeria (FRCN), at the weekend launched roadmap for the adoption of the Sustainability Financial Reporting Standard in Nigeria. The lunch...
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FG Suspends 25% Penalty On Improperly Imported Vehicles
March 23, 2024 No Responses

FG Suspends 25% Penalty On Improperly Imported Vehicles

The Nigeria Customs Service (NCS) has suspended the 25% penalty that had previously been imposed in addition to import duty on improperly imported vehicles. A statement signed by the National Public Relations Officer of NCS, Abdullahi Maiwada, on Friday, expla...
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Edo, Oando To Generate 175MW Wind Energy
March 21, 2024 No Responses

Edo, Oando To Generate 175MW Wind Energy

The Edo State Government’s renewable energy programme being implemented in partnership with Oando Energy will result in the construction of wind turbines across three locations in the three senatorial districts of the State.The locations, according to studie...
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CBN Clears FX Transactions Backlog
March 21, 2024 No Responses

CBN Clears FX Transactions Backlog

The Central Bank of Nigeria (CBN) has cleared all valid foreign exchange backlogs of s$7 billion, fulfilling a key pledge of its Governor, Mr. Olayemi Cardoso. In a statement on Wednesday, the apex bank’s Acting Director, Corporate Communications, Mrs Hakama...
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Oil Palm Has Positioned Edo To Lead Nigeria’s Exports, Says Obaseki
March 20, 2024 No Responses

Oil Palm Has Positioned Edo To Lead Nigeria’s Exports, Says Obaseki

The Edo State Governor, Mr. Godwin Obaseki, has said the Federal Government can tackle the current foreign exchange crisis by advancing fiscal policies to encourage manufacturers to boost local production and access necessary credit to boost exports of Nigeria...
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NADDC To Partner Oando Clean Energy On Vehicle Electrification 
March 19, 2024 No Responses

NADDC To Partner Oando Clean Energy On Vehicle Electrification 

The  National Automotive Design and Development Council (NADDC) and Oando Clean Energy are set to forge closer ties on Vehicle Electrification.   According to NADDC, a courtesy visit  to the Council  by Oando Clean Energy Executive Vic...
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Ministry To Grow Eastern Port Vessel Traffic  
March 19, 2024 No Responses

Ministry To Grow Eastern Port Vessel Traffic  

The ministry of Marine and Blue Economy, on Tuesday, said it’s poised to provide the facilitation and advocacy required to grow the vessel traffic to the Eastern port.  Speaking at the commissioning of 4.8km road and Marine craft at Onne...
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Dangote Lauds Lagos Govt On Consumer Rights Advocacy
March 18, 2024 No Responses

Dangote Lauds Lagos Govt On Consumer Rights Advocacy

The Group Executive Director, Commercial Operations of Dangote Industries Limited (DIL), Hajia Fatima Aliko Dangote has commended the Lagos State Consumer Protection Agency (LASCOPA) on the successful hosting of the 2024 World Consumer Rights Day, noting that ...
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Nigeria’s Inflation Hits 31.70%
March 16, 2024 No Responses

Nigeria’s Inflation Hits 31.70%

The inflation rate has moved to 31.70 per cent in February, according to the latest data by the National Bureau of Statistics (NBS).  The Bureau released the figure on Friday, with the latest data showing a rise from the 29.90...
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Floating LNG Project: UTM Solicits NCDMB’s Equity Investment, Approvals
March 16, 2024 No Responses

Floating LNG Project: UTM Solicits NCDMB’s Equity Investment, Approvals

UTM Offshore Limited, promoters of Nigeria’s first Floating Liquefied Natural Gas (FLNG) facility has requested the Nigerian Content Development and Monitoring Board (NCDMB) to invest equity in the project and to accelerate key approvals that would fast-trac...
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NLNG MD:FG’s Executive Order On Oil And Gas Will Unlock Gas investments
March 13, 2024 No Responses

NLNG MD:FG’s Executive Order On Oil And Gas Will Unlock Gas investments

The Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG), Dr. Philip Mshelbila, on Tuesday, expressed optimism regarding the recent Executive Order on Oil and Gas Reforms signed by Present Bola Ahmed Tinubu (GCFR).According to Dr. Mshelb...
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