Nigeria’s public debt soars to N134.3tn in Q2 2024
Nigeria's public debt stock has surged to N134.3 trillion ($91.3 billion) as of the end of the second quarter of 2024, marking a 10.35% increase from N121.7 trillion ($91.5 billion)…
Boeing workers reject new 35% labour contract, continue strike
Boeing machinists have voted against a proposed labour deal that included a 35% wage increase over four years, their union announced Wednesday. This rejection, with 64% of voters opposing the…
Nigeria officially joins BRICS
Nigeria has officially joined BRICS as a partner country, along with 12 other nations, further solidifying its economic ties with the intergovernmental group. This announcement was made at the ongoing…
IMF urges enhanced tax efficiency in Nigeria, others
The IMF on Wednesday urged Nigeria and other African nations to enhance their tax systems to be more efficient, equitable, and progressive. The Director of the Fiscal Affairs Department, Davide…
FX crisis delays Nigeria’s engagement in $3.4tn AFCFTA
Nigerian exporters are facing challenges in participating in the African Continental Free Trade Area due to the ongoing foreign exchange crisis. Despite the Nigerian government’s efforts to promote exports through…
Dangote refinery starts direct sales of petrol to marketers
Dangote Petroleum Refinery has commenced the direct supply of Premium Motor Spirit, commonly known as petrol, to select oil marketers, bypassing the Nigerian National Petroleum Company Limited. Sources indicate that…
Discos decry FG’s failure to pay electricity subsidies
Electricity distribution companies in Nigeria have expressed concerns that the Federal Government has not fulfilled its commitment to subsidize electricity costs for customers in Bands B to E. This was…
Nigerian crypto firm convicted for illegal USDT-Naira transactions, forfeits N140m
The Federal High Court in Abuja has convicted Official Gredo Limited, a Nigerian cryptocurrency dealing company, for unlawfully conducting transactions converting USDT to Naira without the necessary banking license. Justice…
Iranian hackers target US elections, Microsoft warns
An Iranian hacking group, linked to the Islamic Revolutionary Guard Corps and referred to as Cotton Sandstorm by Microsoft, is reportedly scanning U.S. election-related websites and media outlets as Election…
Nigeria drops charges against Binance exec Tigran Gambaryan
The Nigerian government has officially dropped all charges against Tigran Gambaryan, an executive at Binance Holdings, who had been on trial for alleged money laundering involving $34.4 million since April.…
Insecurity in Zamfara endangers W’Bank’s $495.30m irrigation project
Insecurity in Zamfara State has severely impacted the World Bank-funded Transforming Irrigation Management in Nigeria project, raising concerns about the timely completion of essential activities. However, despite these challenges, the…
NNPC secures equipment to setup 40 new CNG stations
The Nigerian National Petroleum Company Limited has acquired the necessary equipment to set up an additional 40 Compressed Natural Gas stations across Nigeria. This move supports the Federal Government's plan…
