Accordingly, the industry regulator, the Nigeria Upstream Petroleum Regulatory Commission has directed oil refiners in the country to provide monthly price quote on crude supply. This came as the $20bn Dangote Petroleum Refinery is reportedly ramping up the importation of crude from the United States, Bloomberg reported on Thursday. In a statement issued in Abuja […]
Speaking to Newsmen in Lagos, the Area Controller in charge of the Command, Babatunde Olomu, said that the command also made seizures of eleven containers comprising prohibited items such as expired and unregistered pharmaceuticals, footwears, used clothing, armored cables, frozen poultry products with a Duty Paid Value of N424.1 million as against 42 seizures with […]
The project is designed to combat poverty and catalyse sustainable economic growth from the ground up. Vice President Kashim Shettima said the initiative symbolises the commitment of President Bola Tinubu’s administration to enhancing financial and economic inclusion across Nigeria. Senator Shettima spoke during the Kick-off meeting for the initiative to set up an Operating Model […]
Governor, Central Bank of Nigeria, Olayemi Cardoso has said that the apex bank will support measures to boost the nation’s external reserves including the proposed Eurobond issue by the Federal Government. Cardoso who stated this in an interview said they should have a diversity of sources. It shouldn’t just be the eurobond market or foreign portfolio […]
The Federal Government, under the administration of President Bola Tinubu, disbursed a total sum of N14.77bn for the repair and maintenance of the presidential air fleet in 11 months, Sunday PUNCH can confirm. The payments, made in 11 tranches between 16th July 2023 and 25th May 2024, were processed through the State House headquarters transit […]
According to the National Bureau of Statistics, the headline month-on-month inflation rate decreased to 2.14 per cent in May, down from 2.29 per cent in April and 3.02 per cent in March. Food inflation also fell for the third consecutive month to 2.28 per cent in May. The Deputy Governor of the Economic Policy Directorate […]
The report covering third quarter and fourth quarter 2023, indicated that Nigerian households reduced their consumption expenditure Year-on-Year (YoY) to -13.7 percent during the period from -12.47 percent in Q4’22. The period covered by the report is approximately six months into the fuel subsidy removal and exchange rate floatation regime, the two policies that drove price instability […]
Opay in a statement through its official X handle announced that the apex bank has lifted the ban. This is coming after the expiration of a May 31 deadline given to the fintechs to meet Know Your Customer, KYC, and other regulatory requirements. The governor of CBN, Olayemi Cardoso, had, at the end of the […]
While the National Assembly had stepped in at the last minute to avoid the industrial action declared on Friday, the discussions ended in a stalemate, leading to the commencement of the strike. The industrial action has affected businesses and critical services across the country including schools, hospitals, and power supply as workers complied with the […]
Following a two-day meeting, the bank’s Monetary Policy Committee ,MPC, agreed to increase the Monetary Policy Rate,MPR, for the third straight time to rein in the country’s soaring inflation levels pegged at 33.69% in April 2024.The CBN Governor Yemi Cardoso who is also the MPC chairman however, said the Cash Reserve Ratio ,CRR, of Deposit […]