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Petrol queues surface in Lagos, Abuja after Tinubu's subsidy announcement
News

Petrol queues surface in Lagos, Abuja after Tinubu’s subsidy announcement

  Residents of Lagos have started experiencing another rounds of long queues in various petrol stations following the announcement of the fuel subsidy removal by President Bola Tinubu. AM Business reported that Tinubu, in his inaugural speech shortly after his swearing-in in Abuja, declared that “fuel subsidy is gone”. He claimed that the budget he […]

Focus on agriculture in fight against poverty - Agric expert tells Tinubu
Economy

Tinubu vows to review Emefiele’s naira redesign policy

By Wilson Adekumola   The newly inaugurated President, Bola Ahmed Tinubu has promised Nigerians that he would review the naira redesign policy of his predecessor.   Tinubu made this promise in his inaugural address delivered at the Eagle Square, Abuja.   He also said both new and old currency notes would be treated as legal […]

Fuel subsidy is gone, Tinubu tells Nigerians
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Fuel subsidy is gone, Tinubu tells Nigerians

Fuel subsidy is gone, says Tinubu President, Bola Tinubu has stated that there will be no more fuel subsidy in Nigeria. He stated this during his official inauguration speech after his swearing in at the Eagle’s Square, Abuja on Monday. “The fuel Subsidy is gone. It is unjustifiable…..we shall rechannel the funds to education and […]

UBA vows to draw capital to ECOWAS mining industry
Business

ECOWAS, France strike €20m agricultural development deal

The Economic Community of West African States and the French Development Agency have signed two new financial agreements totaling €20 million in support of the regional agriculture strategy. The Guardian reported that the two finance agreements were signed on Monday, May 29, 2023, in Abuja, by the Director of the French Development Agency in Nigeria, Mr. Xavier Muron, […]

Domestic airlines applaud NCAA for rejecting Nigeria Air AOC application
Aviation

Domestic airlines applaud NCAA for rejecting Nigeria Air AOC application

Domestic airlines have thanked the Nigerian Civil Aviation Authority for sparing the aviation sector from the negative effects of giving an air operator certificate to Nigeria Air without following the proper procedures. The Punch reported that on Sunday, the NCAA team, led by its Director General, Capt. Musa Nuhu was commended by the association for having […]

FG, AfDB discuss Coastal, trans-sahara highway projects funding
Economy

Fuel Subsidy: Nigeria’s economy lost $10bn in 2022 – AfDB

The president of the African Development Bank, Akinwumi Adesina has said that Nigeria’s economy lost 10 billion dollars due to fuel subsidies in 2022. According to the News Agency of Nigeria, at a speech in Abuja, Adesina claimed that Nigeria’s fuel subsidies assist the wealthy rather than the poor. The poorest 40% of the population, […]

NAFDAC cuts licensing fees by 65%
News

NAFDAC to shut Kebbi water factories over hygiene requirement failure

The Kebbi state branch of the National Agency for Food Drug Administration and Control on Saturday organized a one-day sensitization session at the College of Nursing Sciences Birnin Kebbi to air its concern about water hygiene in the state. Independent News reported that according to the state coordinator, Sulaiman Muyideen.the initiative is intended to educate […]

Nigerian Aviation Handling Company Plc
Business

NACHO chair demands release of foreign airlines’ trapped funds

The Chairman of the Board of Nigerian Aviation Handling Company Plc, Dr Seinde Fadeni, has urged the Federal Government to release the funds owned by foreign airlines currently withheld in the Central Bank of Nigeria. The Punch reported that Dr Fadeni said this while speaking at the 42nd Annual General Meeting of the Company in […]

News

Why boards of Nigerian companies should participate in ESG – KPMG

KPMG Nigeria urged corporate boards to become active in Environmental, Social, and Governance issues. Nairametrics reported that this was said by the corporation in its May 2023 ESG Oversight report. KPMG asserts that it’s critical for businesses to take a stand on problems like climate change, diversity, equality, and inclusion, as well as other environmental, […]

Enugu Electricity Distribution Company
Business featured

FG orders EEDC to disconnect substandard transformers

The Federal Government has ordered the Enugu Electricity Distribution Company to immediately disconnect all transformers with voltage ratings of 33kV and 11kV installed in 13 different locations. According to The Punch, the new development was revealed through an enforcement notice issued by the Nigerian Electricity Management Services Agency following the company’s failure to adhere to […]

Why Nigeria Air can't start operations by May 29 — Aero Contractors CEO
Aviation

Why Nigeria Air can’t start operations by May 29 — Aero Contractors CEO

  An aviation specialist and commentator, Captain Ado Sanusi, has refuted the Federal Government’s assertion that the contentious Nigeria Air will go into operation before to the next administration’s scheduled May 29 inauguration. Sanusi, who is also the CEO of Aero Contractors, revealed this on Friday during an appearance on Channels TV’s Sunrise Daily programme. […]

IMF backs CBN on interest rate hike
Economy

Why Tinubu, Shettima must focus on revenue, expenditure – IMF

The resident representative of the Nigerian office of the International Monetary Fund, Ari Aisen, has urged that revenue and expenditure should be the main areas of focus in order to address Nigeria’s debt problems. The Punch reported that the IMF said this while encouraging Sen. Bola Tinubu’s new administration to take steps to broaden the country’s source of […]

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