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China gifts Zimbabwe $160m parliament building
Economy

China gifts Zimbabwe $160m parliament building

China is strengthening its influence in African countries with its economic input in helping black nations develop and grow their economies. China recently completed a new parliament building in Zimbabwe to replace the old structure erected during the colonial era. The $160m structure which sits on 33,000 square metres and comprises a six-storey office complex […]

Airports concession: FG moves to proposals request stage
Aviation

Airports concession: FG moves to proposals request stage

The Federal Government has moved into the proposal request stage as it continues the concession of Nigeria’s four major international airports in Lagos, Abuja, Port Harcourt and Kano. It said the move was in line with the Infrastructure Concession Regulatory Commission (establishment, etc.) Act, 2005, as it informed all stakeholders, local, international and development partners […]

Nigeria, others impacted by under-utilisation of mineral resources - Minister
Economy

Nigeria, others impacted by under-utilisation of mineral resources – Minister

Despite huge deposits, Nigeria and other African countries suffer from the under-utilisation of mineral resources, the Minister of Mines and Steel Development, Olamilekan Adegbite, has said. Adegbite made this known during the first International Conference and Exhibitions of the Nigerian Society of Economic Geologists in Abuja. Represented by the Director-General, Nigerian Mining Cadastre Office, Obadiah […]

Buhari
Economy

World Bank faults Buhari regime’s response to inflation

The World Bank has faulted the response of the regime of the President, Major General Muhammadu Buhari(retd), to the inflation suffered by Nigeria. According to a statement released by the Washington-based bank, the Federal government’s response is inadequate as the country continues to suffer double-digit inflation. The apex bank, in its latest Nigeria Development Update […]

NUPENG threatens strike in Lagos over tanker drivers' safety
News

Prepare for mother of all queues, oil marketers warn

Oil marketers have warned Nigerians to prepare for the “mother of all queues” if the Federal Government fails to meet their demands. The oil dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria also denied the payment of N74bn by the Federal Government. AM Business had reported that the Federal Government through […]

Appointments

Buhari reappoints Patience Oniha as DMO DG

The President, Major General Muhammadu Buhari (retd), has reappointed Patience Oniha as Director-General of the Debt Management Office. Oniha’s reappointment extends her tenure by extra five years, according to a statement on Thursday by Senior Special Assistant to the President on Media and Publicity, Garba Shehu. Shehu said the reappointment of the DMO boss was […]

Danfo Yellow Bus
Transportation

Transport fares rise 47.3% in 12 months – NBS

Nigerians are paying more to move from one city to another as they continue to face a slew of challenges, ranging from insecurity, fuel scarcity to high food prices. The National Bureau of Statistics in its Transport Fare Watch for May 2022, released on Wednesday, said the average fare paid by commuters for bus journey […]

EU to criminalize AI-generated porn images, deepfakes
Conferences

Nigeria-EU seek collaboration for better business environment

The 8th European Union-Nigeria Business Forum happening in Lagos this week will seek the collaboration of business leaders and government officials from Nigeria and Europe to identify new opportunities to unlock the Nigerian economy towards win-win outcomes for the country and Europe. The event is jointly organised by the EU delegation to Nigeria and the […]

Naira falls N777 against dollar after CBN announcement
Economy

Dollar may hit N700 by Q4 2022 – BDC

Major players in the Bureau de Change market have lamented the rise in the dollar, saying the foreign currency price could get to N700 before the end of the year. According to The Punch, the pressure on the foreign exchange market continued on Tuesday, with the dollar exchanging at N615 at the parallel market in […]

NAICOM house
News

NAICOM cancels licences of Standard Alliance, Niger Insurance

The National Insurance Commission has cancelled the Certificates of Registration of Niger Insurance Plc and Standard Alliance Insurance Plc. The regulator of the insurance industry disclosed this in a statement by the Head, Corporate Communications and Market Development, Rasaaq Salami. The statement was titled ‘Notice of cancellation of the Certificates of Registration of Niger Insurance […]

Sustainable approaches vital for food safety – Tinubu’s daughter
News

Sustainable approaches vital for food safety – Tinubu’s daughter

The President-General of the Nigerian market women and men association, Chief Folashade Tinubu-Ojo, has harped on the need for sustainable approaches to ensuring food safety in the nation. Folashade Tinubu-Ojo who was represented by Mrs. Mojisola Odusanya said this during a webinar series organized by PUNCH Media Foundation themed, “Food security, nutrition, and food safety: the role […]

Buhari unveils SDG financing framework
News

FG scoops over N2tn from marginal oil fields sale

A new report has revealed that the Federal Government may have raked at least N2tn from the 2020/2021 marginal oil field bid rounds. In the Nigerian context, marginal fields include fields with reported reserves and production potential, which are however deemed marginal for a variety of reasons. Notably, marginal fields exist under current Oil Mining […]

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