Economy

The Minister of State for Petroleum Resources, Timipre Sylva, says there will be no increment in the pump price of Premium Motor Spirit until the conclusion of consultation with Organised Labour. The News Agency of Nigeria reports that Sylva gave the assurance while addressing newsmen on Friday in Lagos. The …

Some beneficiaries of the Rural Women Cash Grant in Maiduguri, Borno State, on Friday. Twitter photo: Federal Ministry of Humanitarian Affairs @FMHDSD The Federal Government has inaugurated the Rural Women Cash Grant which, it says, is to empower 100 million rural women as part of its social inclusion and poverty …

Deposit Money Banks on Sunday started wooing customers ahead of the commencement of the latest ‘Naira-for-Dollar’ policy of the Central Bank of Nigeria. CBN Governor, Godwin Emefiele, had on Saturday announced the introduction of an incentive of N5 for every $1 of fund remitted to Nigeria through International Money Transfer …

The consumer price index, which measures the rate of increase in the price of goods and services, increased to 16.47 per cent in January. This is the highest point since April 2017. The report released by the National Bureau of Statistics shows that food inflation has also crossed the 20 …

Nigeria’s recovery from the impact of the COVID-19 is expected to be weak and gradual under current policies, the International Monetary Fund said on Monday. The IMF also stated that the country’s real Gross Domestic Product is expected to recover to its pre-pandemic level only in 2022. It stated in …

The landing cost of Premium Motor Spirit (petrol) imported into the country has risen by 13.34 per cent in one month to about N180 per litre on the back of the increase in global oil prices. Crude oil price accounts for a large chunk of the final cost of petrol, …

The African Development Bank has projected a growth rate of 1.5 per cent for Nigeria in 2021, and a 2.9 per cent growth in 2022. The President, AfDB, Dr Akinwumi Adesina, disclosed this while delivering a speech at the first national tax dialogue on Thursday. He also said that debt …

Hundreds of protesters from Ikweghwu community in Sapele Local Government Area of Delta State, stormed a crude oil facility owned by Seplat Petroleum Development Company, SPDC, on Thursday morning, demanding for jobs and infrastructure development. The protesters, who stormed the facility as early as 6 am, lamented that they were …

The Transmission Company of Nigeria (TCN) has disclosed plans to build a second national control Centre in Gwagwalada Area Council of Abuja, the nation’s capital. The Acting Managing Director and Chief Executive Officer of TCN, Mr. Sule Abdulaziz, made the disclosure when he led some management staff of the company …

The pre-export requirements recently introduced by the Central Bank of Nigeria is currently frustrating the export of goods from Nigeria to other nations, exporters declared on Wednesday. Speaking under the aegis of the Network of Practicing Non-oil Exporters of Nigeria, they stated that the electronic Nigeria Export Proceed Form being …