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…
Russia-Ukraine: Higher food prices may cause unrest in Nigeria -IMF
The International Monetary Fund has said higher food prices as a result of the Russia-Ukraine war might cause unrest in Nigeria, other Sub-Saharan Africa countries, Latin America, the Caucasus, and…
FG’ll tap $2.2bn Eurobond for fuel subsidy funding –Minister
The Federal Government is planning to tap €2bn ($2.2bn) by this month or next of the money it raised in a Eurobond sale last year and targets more local borrowing…
Reps grill Amaechi over $214m Deep Blue contract
THE Bureau of Public Procurement has told the House of Representatives’ Committee on Navy that it does not possess the documents presented by the HSL International Limited, which the Federal…
