Business

The Federal Government is set to earn N647.7 billion from the concession of two power projects, the e-ticketing of two rail routes and a Device Management System. The two power projects which are the 360 Mega Watts Gurara II Multipurpose Dam and Hydro Power Plant and the 40 MegaWatts Kashimbilla …

Oil production figures for Nigeria crashed to an average of 999,000 (0.999 million) voluntary production level in barrels per day (bpd) in April, just as Angola overtook Nigeria and led Africa with 1.063mbpd oil production in the month. This is according to the April Monthly Oil Market Report (MOMR) of …

The Federal Government spent $112.35m servicing external debt in January 2023, according to findings. Data from the Central Bank of Nigeria’s Weekly International Payments showed that the amount spent in January was 146.17 per cent higher than the $45.64m spent in December 2022. This occurred as the Federal Government struggled …

The Governor of the Central Bank of Nigeria, Godwin Emefiele, said that the ‘Race to USD200bn In FX Repatriation’ programme of the bank had boosted the repatriation of funds into the country by 40 per cent. He said this on Tuesday when he delivered the keynote address at the ‘Third …

Lagos, NIGERIA: TO GO WITH AFP STORY IN FRENCH BY JACQUES LHUILLERY ******Nigeria-economie-energie-societe-politique*** (FILES) File picture of Nigerian businessman Aliko Dangote (L) and Femi Otedola are pictured during the opening of the second Lagos domestic airport MM2, 7 April, 2007. Aliko Dangote said that he is far more wealthier than …

The Edo State Governor, Godwin Obaseki, has on Monday approved the payment of 13th month’s salary to the state’s civil and public servants effective from December 2023. Obaseki gave the approval during an engagement with Edo State civil and public servants at the Victor Uwaifo Creative Hub in Benin City. …

In apparent reflection of the impact of insecurity, flooding and extreme weather on farming activities, agriculture sector growth fell by more than half in five years to 2022, defying the double digit increase in banks’ lending to farmers during the same period. Financial Vanguard analysis of banks’ lending in the …

The new tax law captured in the 2023 Fiscal Policy measures and was recently introduced by the federal government, has been described as capable of ‘worsening the economic woes of helpless Nigerians who have to contend with dwindling purchasing power. The document signed by, the minister of Finance, Budget and …

A medical researcher at the Nigerian Institute of Medical Research, Yaba, Lagos, Dr Aina Oluwagbemiga, has said that the institute was yet to see any herbal product that cures malaria in the country. Aina, who is a Deputy Director of Research, at the Centre for Research in Traditional, Complementary and …

The Federal Government of Nigeria, on Wednesday, in Abuja, approved a National Blockchain Policy. ⁣⁣The Minister of Communications and Digital Economy, Prof Isa Pantami, disclosed this after this week’s Federal Executive Council meeting presided over by the President, Major General Muhammadu Buhari (retd.), at the State House, Abuja. ⁣⁣Pantami said …