Economic crisis worsens as forex inflows fall by $9.58bn
Foreign exchange inflows into the economy declined in the fourth quarter of 2021, owing to lower receipts from the Central Bank of Nigeria and autonomous sources. This is an indication…
Ikoyi bridge: Lagos makes case for toll collection
The Lagos State Government has made its case for its legal right to collect tolls on the Lekki-Ikoyi Link Bridge, stressing that tolling on the link bridge is lawful. The…
10 banks raked in N1.57tn interest income in 2021 – Reports
Ten Deposit Money Banks in Nigeria earned a total of N1.57tn in net interest income last year, up from N1.49tn as of December 31, 2020. They are Union Bank Plc,…
Twitter: Musk mulls free speech after $44bn purchase
Elon Musk has agreed a deal to buy Twitter for about $44bn. This was confirmed on Monday after Twitter agreed to be taken over at $54.20 a share. Speaking on…
Nigeria has 70% road infrastructure deficit, says minister
The Minister of Mines and Steel Development, Olamilekan Adegbite, has disclosed that Nigeria has about 70 per cent road infrastructure deficit while stressing the need for the country to boost…
Over $10bn food production at risk in Nigeria, others –AfDB
The African Development Bank Group President, Dr Akinwumi Adesina, says a fertiliser crisis triggered by the Russian war in Ukraine could put more than $10bn worth of food production at…
Rising insecurity, naira fall worsening business environment – NGF
The Director-General, Nigeria Governors’ Forum, Mr Asishana Okauru, says worsening insecurity and currency depreciation have been adversely affecting the business environment and taxable income in Nigeria. The NGF DG, who…
FG shortlists bidders for 12 highways in Lagos, Kano, others
The Federal Government on Monday announced that it had identified preferred/reserved bidders for 12 federal highways up for concession under the Highway Development and Management Initiative. It said this was…
Manufacturers borrow N1.03tn from banks, debts hit N4.2tn
Operators in the nation’s manufacturing sector saw their combined debt to Nigerian banks rise to N4.19tn in January 2022. This is as they borrowed the sum of N1.03tn between January…
NURTW crisis: Caution Baruwa, ex-union leaders tell NLC
Some former leaders of the National Union of Road Transport Workers Union in the South-West zone have asked the Nigeria Labour Congress to call the National President of the union,…
Discos reject 2,495.3MW in one week – Report
A total of 2,495.3 megawatts of electricity was not utilised nor distributed by power distribution companies in one week, despite the demand for electricity nationwide, industry data obtained from the…
AfDB predicts energy, food price hikes in Nigeria, others
The President, of the African Development Bank Group, Dr Akinwumi Adesina, has said that the costs of fertilizer, rising energy prices, and rising costs of food baskets, could worsen in…
