Fuel scarcity: FG implements 25% freight rate increase for NARTO
The Federal Government has approved and commenced the implementation of the 25 per cent freight rate increase to members of the Nigerian Association of Road Transport Owners in a bid…
AfDB secures $15.6bn for Lagos-Abidjan highway corridor
The President of the African Development Bank, Dr Akinwumi Adesina, announces that the bank has secured $15.6bn for the construction of the Lagos-Abidjan highway corridor, which would ease transportation across…
Nigeria borrowed N6.64tn, serviced debt with N2.93tn in 2021 -DMO
THE Debt Management Office on Thursday said Nigeria’s total public debt stock increased to N39.56tn in 2021 from N32.92tn in 2020. The Director-General, DMO, Patience Oniha, said this at a…
OPEC quota: Elumelu disagrees with Sylva over low oil sector investment
Nigeria’s billionaire businessman, economist, and philanthropist, Tony Elumelu, on Thursday argued that the reason why Nigeria had been unable to meet its oil production quota as approved by the Organisation…
Telcos mull tariff hike as diesel price skyrockets
Telecommunications services providers under the aegis of the Association of Licensed Telecoms Operators of Nigeria have said a tariff review for telco services may happen if the rise in the…
Customs impound Dangote truck with 250 bags of foreign rice
The Comptroller-General of the Customs Strike Force, Team A Unit, Mohammed Yusuf, has said his officers seized a Dangote truck loaded with 250 bags of banned imported rice. Yusuf stated…
FG halts N600bn electricity subsidy, confirms power tariff hike
The Nigerian Electricity Regulatory Commission on Wednesday declared that subsidy on power amounting to about N600bn during some period had now been stopped by the Federal Government. It also revealed…
Senate amends Money Laundering Act, banks to report deposits to EFCC
The Senate, on Wednesday, passed a bill to amend the Money Laundering Act 2011, which makes it mandatory for Deposit Money Banks and other financial institutions to report to the…
NUPENG cries out as cooking gas price rises again
The Liquefied Petroleum Gas Retailers Branch of the Nigeria Union of Petroleum and Natural Gas workers on Wednesday raised the alarm over the recent rise in price of Liquefied Petroleum…
NASS proposing criminalising illegal connection – NERC
THE National Electricity Regulatory Commission has urged consumers to know their rights and obligations within the sector, noting that it will help strengthen the business relationship between the Discos and…
Banks refunded over N95bn to customers in 2021 – CBN
The Central Bank of Nigeria on Thursday said cumulative refund by banks to customers as at December ending 2021 stood at N95.2 billion. This is contained in data released by…
Transport ministry opposes 12% revenue allocation to maritime varsity
The Federal Ministry of Transportation has opposed the proposal by the House of Representatives to allocate 12 per cent of the revenue generated by the Nigerian Maritime Administration and Safety…
