Economy

The Federal Government has hinted of a pay raise for workers in the public service to cushion the effect of the global economic downturn. The government admitted that inflation has eroded the purchasing power of workers who are on N30, 000 minimum monthly wage. Labour and Employment Minister Senator Chris …

The Vice President, Prof. Yemi Osinbajo has stressed that the use of gas as a transition fuel would not only help in stemming deforestation, but also advance Nigeria’s broader development goals, especially as Nigeria has one of the largest gas reserves in the world. According to him, other developing countries …

Data collated from the Central Bank of Nigeria (CBN) has shown that banks borrowing from CBN in August 2022 dropped by 47 per cent Month-on-Month (MoM) to N2.4 trillion compared with N4.5 trillion in July 2022.  This is as analysts have predicted that with the recent increase in Monetary Policy …

The Group Chief Executive Officer of the Nigeria National Petroleum Company, Mele Kyari, on Tuesday, said 122 persons have been arrested for oil theft between April and August 2022. He also revealed that government operatives have discovered at least 295 illegal connections tethered to a 200km stretch of pipeline. This, …

The Deputy Senate President, Ovie Omo-Agege, yesterday disclosed that the National Assembly, NASS, is committed to making laws that encourage private enterprises and further grow the nation’s creative sector. He lamented that despite being a leader in raw content production in Africa, Nigeria is not doing enough to monetize them …

Streaming giant, Netflix, has recorded a staggering loss of 970,000 subscribers in the second quarter of 2022. The company lost about 200,000 subscribers in the first quarter of 2022, the highest in over a decade. Netflix believes that factors hampering its growth include the time it is taking for homes …

As part of efforts to boost the capacity of Nigerians to work in the oil and gas industry, the Petroleum Technology Development Fund (PTDF) has shortlisted 8,800 candidates from over 26,000 applicants for this year’s Overseas Scholarship Scheme, OSS. The PTDF OSS is an annual programme that awards scholarships to …

The Federal Government approved tax reliefs for tech startups to enable the implementation of strategies to encourage and support the development and growth of more Innovation-Driven Enterprises. The Minister of Communications and Digital Economy, Isa Ali Pantami, said this in a statement Sunday by his technical assistant, Femi Adeluyi. Pantami …

The dollar exchanged at N600 on Monday at the parallel market, heightening fears of a further devaluation of the nation’s currency. The rate at the Importers and Exporters Window was, however, N415.75 on Monday, widening the exchange rate spread to N184.25. At Zone 4 in Abuja, which is the hub …

The Independent Petroleum Marketers Association of Nigeria has asked Nigerians to prepare for the worst fuel crisis. To avoid this, the petrol marketers association asked the Federal Government to prevail on the Nigerian Midstream and Downstream Petroleum Regulatory Authority to pay its members their outstanding bridging claims amounting to over …