The Central Bank of Nigeria (CBN) confirmed on Sunday that the Federal Government recorded a fiscal shortfall of N1.29 trillion in the third quarter (Q3) of this year. The apex bank disclosed this in its third-quarter economic report.
The Central Bank of Nigeria ( CBN) has ordered Deposit Money Banks (DMBs) to close all the naira accounts of International Money Transfer Operators (IMTOs) in the country. The apex bank issued the directive on Friday in its circular to...
After December 30, all Subscriber Identification Modules SIM that are not registered with valid National Identification Numbers on the network of telecommunications companies shall be blocked, the Federal Government has said. It was gathered in Abuja on Tuesday that the...
The Federal Government, through the Benin-Owena River Basin Development Authority (BORBDA), on Sunday, launched two integrated farm projects in Okpe and Uneme Nekhua both in Akoko Edo Local Government Area of Edo as part of the agricultural transformation agenda of the government.
The meeting between the federal government and organised labour has just ended in Abuja. The five-hour long meeting agreed that the price of petrol be reduced by N5 while labour also got a commitment from the government that the distribution...
The Federal Government has announced a scheme aimed at rolling out five million solar systems to provide power to communities Over 25 million Nigerians are expected to benefit from this and generate N7 billion yearly. The Federal Government through the Rural Electrification Agency...
The International Air Transport Association (IATA) has revised its outlook for the airline industry with a projected net loss of $118 billion this year. However, the association believes that things would be better in 2021, with a ‘vaccine bump’ expected during...
The Federal Executive Council (FEC) has on Wednesday approved contracts for different projects totalling about N39.7bn. The approvals were given at a meeting of the council presided over by the President, Major General Muhammadu Buhari (retd.). The...
The Federal Government is currently working on roads connecting Nigeria to other nations of Africa as part of measures to boost Nigeria’s competitiveness in the African Continental Free Trade Area market. This was disclosed by the Minister of Works and Housing, Babatunde Fashola,...
World Bank Country Director in Nigeria, Mr Shubham Chaudhuri on Monday said that Nigeria’s per capita income could fall to its lowest level since 1980 this year. Chaudhuri disclosed this at the ongoing 26th edition of Nigeria Economic Summit in Abuja. He also...
Fintech specialists and other stakeholders have tasked the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) to conduct a talent needs survey to bridge the skills gap. The Fintech and Human Resources (HR) experts spoke during the Fintech Talent summit...
Electricity consumers in Ezema/Ubulenu and Osita-Osili communities of Uke in Idemili North Local Government Area of Anambra state have petitioned the Nigerian Electricity Regulatory Commission (NERC) over what they termed "strange and unnecessary outrageous estimated bills by the Enugu Electricity Distribution Company (EEDC).
Lufthansa, Air France/KLM have been given the approval to operate international flights into Nigeria. It could be recalled that the Federal Government of Nigeria imposed ban on Lufthansa, Air France/KLM. Minister of Aviation, Hadi Sirika, made the...
President Muhammadu Buhari has urged agencies involved in agriculture to include youth in driving modern methods of farming. The president stated this in Abuja on Tuesday when he inaugurated the National Young Farmers Scheme designed by the National Agricultural Land...
AZMAN Air Services Limited has sacked no fewer than 10 workers, including six pilots, on Saturday. It was gathered that six pilots, one cabin crew member, and three ground staff had their appointments terminated after they were said to have complained in a...
The Federal Government on Tuesday explained why it decided to approach the Brazil for a $1.2bn external loan request to finance agricultural programmes in the 2021 budget. A request for approval has also been transmitted to the National Assembly, the...
The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the total public debts of Nigeria would hit N38trn by December 2021. Ahmed, who disclosed this during her presentation to the Senate Committee on Local and Foreign Debts,...
The Enugu Electricity Distribution PLC (EEDC) has commenced implementation of the revised Service Reflective Tariff (SRT). The tariff which took effect on November 1, 2020 was approved by the Nigerian Electricity Regulatory Commission (NERC). The review, acccording to a statement...
The Enugu Electricity Distribution PLC (EEDC) has disclosed its plans to migrate customers to enjoy improved and better services in keeping with its commitment to consistently, invest in her network and improve quality of service. A statement issued by the Head of Corporate...
The Enugu Electricity Distribution Company (EEDC) has lamented disruption of activities of its technical and maintenance teams following ongoing protests across parts of the South East states. In a statement by the Head, Corporate Communications, Emeka Eze, the company attributed the steady power...
The Companies and Allied Matters Act, 2020 (CAMA 2020) signed into law by the President Muhammadu Buhari, has asked individuals and companies in sections 119-123 to declare their ownership and structure. Nigeria has set the record of few countries with legal framework...
Experts and policy makers have linked Nigeria’s economic challenge to poor infrastructure development and have also concluded that Nigeria needs to increase infrastructure financing to fix capital projects. They spoke at the Lafarge Africa Plc inaugural Concrete Ideas webinar series with the...
Lagos Bus Services Limited has suspended operations amid allegations that one of its buses was used in conveying thugs to Alausa to disrupt # EndSARS protests as seen in a viral video . The Managing Director , LBSL, Mr...
Nigeria is now the largest producer of rice in Africa , the Federal Government said on Tuesday . Minister of Agriculture and Rural Development , Sabo Nanono, said this in Abuja at an event to mark the 2020 World Food...
A modular refinery , located in Imo State , with the capacity of 5 ,000 barrels per day will commence operations in October, the Nigerian Content Development and Monitoring Board has said . The Federal Government , on Tuesday ,...
The nation ’s inflation rate has recorded its biggest increase so far this year , rising to 13 . 22 per cent in August , the National Bureau of Statistics said on Tuesday . The 13 .22 per cent inflation...
It was jubilation galore in Awka, Anambra state on Monday following the inauguration of a new branch of Access Bank, Plc in Awka, Anambra state. Executive Director, Retail Banking Division, Access Bank Plc, Mr. Victor Etuokwu during the inauguration, said the decision to...
President Muhammadu Buhari, has ordered operators in the power sector to carry out mass metering of unmetered customers nationwide. This was announced on Wednesday by the Nigerian Electricity Regulatory Commission. The NERC in a tweet via it official Twitter handle...
Anambra state government has commended the Obi of Onitsha, Igwe Nnaemeka Alfred Achebe for guaranteeing seven multi purpose co-operative societies for the ANSG/CBN Micro, Small and Medium Enterprises (MSME) fund credit facility, amounting to N35,000,000.00. The credit facility was issued by theAnambra Small...
An Anambra State Magistrate Court sitting in Ogidi, Idemili North Local Government has sealed MTN mast serving a densely populated area of Nkpor-Agu, a suburb of Onitsha over right of possession. The disconnection and sealing of the mast number T4141 located at number...