Blog

Nigerians bought petrol N191.65 per litre September- NBS
News

FG to spend N6.7tn on fuel subsidy in 2023

Economic and energy experts have predicted that the economy, States, and Nigerians will face tougher times in the future in light of the Federal Government’s projection that it will spend a staggering N6.7 trillion on fuel subsidies next year and a significant decline in government oil revenue this year. According to The PUNCH, the Minister […]

Reps pass tax crimes commission bill for second reading
News

Reps pass tax crimes commission bill for second reading

The House of Representatives on Wednesday passed for second reading, a bill seeking to establish a Tax Crime Commission to try tax-related offences, which is to be headed by the Inspector General of Police. Particular emphasis was placed on the supervision and oversight of an effective, equitable, and suitable tax system, the widening of the […]

Economy

Give confiscated foodstuffs to poor Nigerians, experts tell Customs

The Chief Executive Officer, Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, has advised the Nigeria Customs Service to see how they could use perishable seized goods for economic interventions. Recently, the acting Customs Area Controller in charge of the Federal Operations Unit, Zone A, NCS, Hussein Ejibunu, while giving the first-year report […]

Bayelsa Airport
Aviation

Why flights are not coming to Bayelsa airport – Govt

The Bayelsa State Government has said its airport is not operational because the airlines flying its route have sent their planes for a D-Check. The state stated that the airport will be open to normal flight operations before the end of the month. According to the state, the absence of flights at the Bayelsa International […]

Electricity

Blackout as national grid collapses again

Nigeria’s power grid collapsed again on Wednesday, making it the sixth time that the system had crashed in 2022. The grid crashed from the 3,921.8 megawatts that was generated at 6am to as low as 50MW around 12.23pm, causing widespread blackout across the country. Industry figures obtained from the Federal Ministry of Power in Abuja […]

Bakers to raise bread prices over rising costs
News

Bakers stop bread production today over rising costs

Bread makers have announced plans to stop production of their products, effective today, over rising prices of baking materials and diesel which have affected the industry negatively. Bakers under the aegis of the Premium Breadmakers Association of Nigeria made this known in a statement signed by the President of the association, Emmanuel Onuorah. Onuorah said […]

Festus Osifo becomes TUC President
News

Festus Osifo becomes new TUC President

The Trade Union Congress, on Wednesday, elected a new President, Festus Osifo, at the end of an election where he won with 688 votes defeating his rival, Oyikan Olasanoye, with 18 votes. The former President of the Petroleum and Natural Gas Senior Staff Association of Nigeria won at the election took place at the 12th […]

Nigeria, Morocco commence 5,600km gas pipeline project
Oil and Gas

NNPC denies issuing directive on fresh petrol price

The Nigerian National Petroleum Company Limited has denied issuing the directive on the new price of Premium Motor Spirit, otherwise known as petrol. NNPC said on Tuesday that fuel pricing directly falls under the responsibilities of the Nigerian Midstream and Downstream Petroleum Regulatory Authority. The spokesperson for the NNPC, Garbadeen Muhammad, said, “The NNPC no […]

Naira falls N777 against dollar after CBN announcement
Economy

Dollar conversion: CBN to block bank customers’ account

The Central Bank of Nigeria has said it will place A ‘Post no Debit’ on the accounts of customers, especially politicians, converting the naira to the dollar as electioneering spending spiked. CBN Governor, Godwin Emefiele, stated this during the Monetary Policy Committee meeting in Lagos, where he disclosed the increase in the interest from 13 […]

NNPC becomes commercial entity amid fuel scarcity
Oil and Gas

NNPC becomes commercial entity amid fuel scarcity

The President, Major General Muhammadu Buhari (retd.) officially unveiled the new brand of the Nigerian National Petroleum Company Limited on Tuesday, at the State House, Abuja, to usher in some provisions of the Petroleum Industry Act. This is coming amidst fuel scarcity in some parts of the nation, especially in Lagos and Abuja. According to […]

News

Bread scarcity looms as bakers threaten strike

The Association of Master Bakers and Caterers of Nigeria has issued a two-week ultimatum to the Federal Government to address various challenges facing the industry. The Kogi State Chairman of the association, Gabriel Adeniyi, stated this while addressing journalists in the state. He said, “The Master Bakers and Caterers nationwide resolved to down tools and […]

Aero Contractors suspends operations
Aviation

Aero Contractors suspends operations

Aero Contractors has announced the temporary suspension of its operations in Nigeria over the country’s economic crisis. Nigeria’s oldest airline made this known in a statement released on Monday. The airline noted that the suspension will take effect on Wednesday, July 20, coming at a time airlines in the country have been lamenting the skyrocketing […]