The Federal Government has said it is interacting with the critical sectors to halt exportation of Liquefied Petroleum Gas (LPG), also known as cooking gas in view of its rising cost. It added that all LPG produced within the country would be domesticated to crash the price of...
BUSINESS
By MBAFAN ADE, Abuja – The Federation Account Allocation Committee (FAAC), has shared the sum of N1.149 trillion revenue among the Federal Government, states and Local Government Councils (LGCs) for January. The revenue was shared at the February meeting of FAAC chaired by the Minister of Finance and Coordinating...
An aviation expert, Dr Gabriel Olowo, on Thursday said that airlines had no choice but to sell what they buy, in terms of fuel costs, to stay afloat. Olowo, the immediate past President of Aviation Safety Round Table Initiative (ART) and Chairman Sabre Global Technology Ltd., InterGuide...
A financial expert, Dr Chijioke Ekechukwu, has said the continued depreciation of the Naira has become worrisome and embarrassing. Ekechukwu, an economist and a past president of the Abuja Chamber of Commerce and Industry (ACCI), said this in an interview with the News Agency of Nigeria (NAN) on...
Organization of Women in Science in the Developing World (WOSD), has said that many young girls in Africa abandon science courses because of lack of mentoring and fear. Dr. Adachukwu Ikeyi, Coordinator of the organisation in the Institute of Management and Technology (IMT), Enugu, made the observation in...
The National Bureau of Statistics says 11.94 billion litres of Premium Motor Spirit (PMS) also known as petrol were imported in the first half of 2023. The NBS stated this in its Petroleum Products Distribution Statistics for Half Year 2023 released in Abuja on Wednesday. The report said...
The National Bureau of Statistics (NBS) says the average retail price of a litre of diesel increased from N828.82 in January 2023 to N1153.01 in January 2024. NBS stated this in its Diesel Price Watch for January 2024 released in Abuja on Wednesday. The report said that the...
FirstBank has launched the second season of its Cash Out promo designed to reward users of FirstMobile, its industry-leading mobile banking solution. The FirstBank Cash Out Promo 2.0 which began on Monday, 15 January 2024, ends on Friday, 15 March 2024, and is open to new and existing...
The Debt Management Office (DMO) said on Tuesday that it raised N1.495 trillion from Federal Government of Nigeria (FGN) bonds at its monthly auction of Feb. 2024. The News Agency of Nigeria (NAN) reports that the DMO offered N1.25 trillion seven-year bond, maturing in 2031 and another N1.25...
New offshore drilling and deepwater development projects are driving Nigeria’s oil and gas industry to be explored at the upcoming Invest in African Energy 2024 forum Sitting on an estimated 203 trillion cubic feet of natural gas, Nigeria is on a mission to monetize its gas resources and become...
Entrepreneurs can benefit from new ideas on ways to address a particular issue or ideas for growth Small businesses are embracing digitalization and catering to their customer needs through a variety of online channels. With new technologies emerging such as artificial intelligence, there is no time like the present...
The Cinema Exhibitors Association of Nigeria (CEAN) on Tuesday said it generated N1.2 billion as revenue across cinemas in the country in January. Its National President, Mr Opeyemi Ajayi, who disclosed this while speaking with the News Agency of Nigeria (NAN) in Lagos, said total viewers across cinemas...
By TYAV SAM TYAV, Makurdi – Determined to ensure easy accessibility and payment of taxes, the Benue State Internal Revenue Service (BIRS) has opened up new motor license centres in Gboko Central, Ihugh and Jato Aka areas of Benue State. The Acting Chairman, Benue State Internal Revenue Services...
Small and Medium Enterprises (SMEs) are now struggling to make sales and profit due to the spike in the prices of commodities in various markets across Kaduna State. Some small business owners who spoke to the News Agency of Nigeria (NAN) on Sunday said that they fear being...
The real Gross Domestic Product (GDP) growth for Africa is expected to average 3.8 per cent and 4.2 per cent in 2024 and 2025. The African Development Bank (AfDB) said this in its latest Macroeconomic Performance and Outlook (MEO) report. In a statement issued on the Bank’s website,...
President Bola Tinubu has said Nigeria is ready to host the African Central Bank in line with the vision of the Abuja Treaty. He said this at the 37th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU) in Addis Ababa,...
The financial services industry during the week led activities on the equity market of the Nigerian Exchange Ltd. (NGX) as investors traded a total turnover of 1.6 billion shares worth N36.50 billion in 42,546 deals this week. The NGX weekly market report revealed that this was in contrast...
Nigerian Breweries Plc has recorded a net loss of N106 billion for the year ended 2023, as against N13.93 billion posted in its 2022 financials, indicating 860 per cent loss. Company Secretary, Nigerian Breweries, Mr Uaboi Agbebaku, stated this in the audited financial result of the company for...
The equity market of the Nigerian Exchange Ltd. (NGX) ended the week on a positive note, with a gain of N2.11 trillion week-on-week. Specifically, the market capitalisation gained N2.11trillion week-on-week and on Friday closed at N57.849 trillion with a gain of N888 billion or 1.56 per cent, as against...