External reserves fall by $196m in eight days
Nigeria’s external reserves fell slightly by $196m in eight days to $39.62bn as of April 28, according to figures obtained from the Central Bank of Nigeria. The CBN revealed that…
700 companies jostle for N12bn railway projects – NRC
THE Nigerian Railway Corporation has said that about 700 companies applied for its N12bn capital projects procurement. Speaking during the exercise in Lagos, the Director of procurement, NRC, Mr Benjamin…
Overdue debt repayment weak in most states, DMO warns
The Director-General, Debt Management Office, Ms Patience Oniha, has said that many state governments still struggle to pay arrears, a development that threatens the level of debt sustainability in states.…
Nigeria’s crude production crashed by 1.2 million barrels in April – OPEC
The Organisation of Petroleum Exporting Countries on Monday said insufficient investments in the oil sector had limited the capacity of Nigeria and other OPEC member nations to pump the volumes…
44% of Nigerian firms paid hackers ransom in 2021 –Report
SEVENTY-one per cent of Nigerian organisations were hit by ransomware in 2021 while 44 per cent of the affected firms were forced to pay ransoms to get their data back,…
Subsidy deductions hit states hard, govs owe salaries
State workers and pensioners on Sunday lamented they were carrying the burden of a cash crunch in the country with many state governments failing to ensure regular payment of salaries,…
Over 50 companies shut down over forex, power crises
More than 50 Nigerian manufacturing companies have shut down in the last five years, according to investigations. Some of the manufacturing companies that have exited the industry in the last…
Blackout hits CBN, army headquarters, others
The headquarters of the Central Bank of Nigeria, the Nigerian Army as well as the Federal Ministry of Finance, among others, suffered blackouts on Sunday due to the vandalism of…
Nigeria’s inflation may worsen to 16.1% in 2022 – IMF
The International Monetary Fund has projected that Nigeria’s Consumer Price Index will hit 16.1 per cent in 2022. This projection was presented in a tabular illustration in the IMF’s Regional…
Why aviation industry remains in recession – Union
The National Union of Air Transport Employees on Sunday said the recent hike in airfares coupled with the impact of the Russia/Ukraine war and the COVID-19 outbreak had delayed the…
FG to establish 119 ranches in Benue, Taraba others
A total of 119 ranches are to be created under the National Livestock Transformation Plan in various states across the country between 2019 and 2028, the Federal Government has said.…
Poverty can’t be eradicated without financial inclusion – First Bank
Without adequate financial inclusion, poverty cannot be effectively eradicated in Nigeria and other nations of Africa, First Bank Nigeria Plc stated on Friday. Financial inclusion refers to efforts aimed at…
