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Petrol stations risk licence revocation over under-dispensing – NMDPRA

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Telecommunications

Poor database threatens SIM-NIN registration, NIMC admits deficit

Telecommunication consumers are lamenting the decision of the Federal Government to implement the National Identification Number-Subscriber Identity Module policy after the Nigeria Identity Management Commission disclosed that its infrastructure can accommodate only 100 million Nigerians. The consumers under the aegis of the National Association of Telecoms Subscribers were reacting to comments by the Director-General of […]

Agribusiness

Norwegian agency, IITA seek improved cocoa production

The Norwegian Agency for Development Cooperation has called for improved soil fertility to boost cocoa production in Nigeria and other cocoa-producing countries in Africa. A Senior Adviser at NORAD, Daniel van Gilst, on Thursday at the 2022 CocoaSoils Forum held at the International Institute for Tropical Agriculture, Ibadan said there was the need for an […]

Buhari
Agribusiness

Special agro–industrial processing zones suffer setbacks, experts warn FG

Experts and stakeholders in the financial system have said the delay in getting approval from the Federal Executive Council is stalling the implementation of the Special Agro-Industrial Processing Zones programme. According to the expert, the Nigerian economy may suffer from the looming food crisis if there is no major increase in agricultural production, especially in […]

Naira falls N777 against dollar after CBN announcement
News

Naira depreciates against dollar at N420

The naira, on Thursday, depreciated further at the Investors and Exporters Window, exchanging at N420 to the dollar, a 0.30 per cent depreciation, weaker than N418.75 traded on Wednesday. The open indicative rate closed at N416.50 to the dollar on Thursday. An exchange rate of N444.00 to the dollar was the highest rate recorded within […]

Telecommunications

NIN registration hits 80.7 million weeks after SIM ban

The Nigeria Identity Management Commission has issued 80.7 million National Identification Numbers, exactly 19 days after the agency deactivated about 72 million telecommunication subscribers for failing to comply with the Federal Government’s NIN-Subscriber Identity Module policy. The data on NIMC’s portal showed that the number of issued NINs hit 80.7 million on April 23, 2022, […]

News

Lagos to demolish over 10 distressed buildings before Sunday

As part of the ongoing efforts to rid Lagos State of distressed buildings, the Lagos State Building Control Agency says it has marked over 10 structures in the state for demolition. A statement by the Head, Public Affairs, LASBCA, Adetayo Asagba, said the buildings were marked for being structurally distressed and unsafe for habitation. The […]

Why oil theft estimates are unrealistic- Navy
Oil and Gas

Nigeria loses N91bn oil in one month – Analysis

Statistics have shown that Nigeria lost N91bn worth of oil to various technical issues in just one month. Data sourced from the Nigerian National Petroleum Corporation’s latest Monthly Financial and Operations Report (April 2021) showed that the revenue was lost due to the inability to produce approximately 3.5 million barrels of oil in April. Total […]

Tweeps knock FG as fuel scarcity leaves commuters stranded
Oil and Gas

Fuel scarcity won’t spread to Lagos, others – Marketers

Oil marketers have said that the fuel scarcity being experienced in Abuja will not spread to Lagos State and other parts of the country. In an interview on Wednesday, the Major Oil Marketers Association of Nigeria, the Independent Product Marketers Association of Nigeria, and the Depot and Petroleum Products Marketers Association, unanimously said the state […]

News

Fintech startup boosts money management service

Halo Financial Services Limited, a fintech start-up, has launched an innovative service that will help Nigerians manage and grow their money. During a press briefing in Lagos on Wednesday, the Chief Executive Officer and Co-founder, Chidimma Onyeokoro, said that Halo enabled communities to provide financial services to their members. Onyeokoro said, “Halo defines a community […]

News

Nigerian paper mills collapse, imports hit N297bn in six months

Nigerian paper mills have collapsed years after privatisation, forcing the economy to depend on imported paper for its needs. According to data from the National Bureau of Statistics data, Nigeria imported paper and its allied products worth N296.696bn between July and December 2021. While paper valued at N188.137bn was imported in the third quarter of […]

New naira'll make ransom payment difficult - CBN
Banking

Bank loans to govt rise to N16.32tn – CBN

The total net credit by the Nigerian banking sector to the government rose by N2.2tn in the first quarter ended March 2022 to N16.32tn. Figures obtained from the Central Bank of Nigeria’s data on ‘Money and credit statistics’ have shown. According to the data, the net credit to the government rose from N14.12tn as of […]

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