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FG to ground over 60 private jets over unpaid duties

The Federal Government, through the Nigerian Customs Service is set to ground over 60 private jets owned by prominent individuals due to unpaid import duties amounting to billions of naira. It is reported that the enforcement action by the Nigerian Customs Service will begin on Monday, according to The Punch. This follows communications between the […]

BOI extends RAPID funding application deadline for MSMEs
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BOI disburses over N37.8bn in trade grant scheme

The Bank of Industry has announced the disbursement of over N37.8 billion under the Presidential Conditional Grant Scheme, also referred to as the Trade Grant Scheme. In a circular released on Sunday, BOI reported that 774,593 individuals and businesses have benefited from the Presidential Conditional Grant Scheme, according to Nairametrics. This initiative aims to support […]

Air Peace funds still trapped in CBN - Onyema
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Air Peace reacts to new US fraud allegations against CEO

Air Peace Limited has expressed confidence that justice will prevail regarding the expanded charges brought by U.S. authorities against its CEO, Allen Onyema, in the alleged submission of false documents to impede a federal investigation. This assurance was conveyed in a statement released on October 13, 2024. Air Peace’s reaction is contained in a statement issued on […]

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Experts have warned that, following the presumed full deregulation of Premium Motor Spirit, or petrol, prices may increase again soon after last week’s hike. The experts based their warning on anticipated further depreciation of the foreign exchange rate and an expected rise in crude oil prices in the international market, according to Vanguard. “And the […]

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Manufacturers call for tax relief amid dwindling sales

The Manufacturers Association of Nigeria has urged the government to provide tax relief for manufacturers to help them manage the decline in sales. The Director General of MAN, Segun Ajayi-Kadir said that manufacturers in the country currently pay between 60 and 120 different taxes, according to The Punch. He noted that manufacturers are burdened by […]

Dangote Refinery loses N32.5bn after petrol price cut
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Dangote seeks 650,000 barrel FPSO vessel to boost crude production

Dangote Group is looking to acquire a floating production, storage, and offloading vessel with a capacity of 650,000 barrels to support its upcoming oil production initiatives. This move aligns with their broader strategy to enhance oil production capabilities and strengthen their position in the energy sector. According to a company source, Dangote Group plans to […]

Ex-FTX exec causes stir on LinkedIn with inmate position declaration
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Ex-FTX exec causes stir on LinkedIn with inmate position declaration

Former FTX executive Ryan Salame took to LinkedIn to humorously announce his new position as an inmate at FCI Cumberland, where he will serve a seven-and-a-half-year prison sentence that began on Friday, according to the Daily Mail. “I’m happy to share I’m starting a new position as an inmate at FCI Cumberland,” the 31-year-old wrote […]

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Lagos FPSO facility to enhance crude oil output – Petroleum minister

The Minister of Petroleum Resources (Oil), Heineken Lokpobiri, has announced that the Floating Production Storage and Offloading facility in Lagos, a joint venture between NNPC Limited and Century Nigeria Limited, is nearing completion. This facility is set to contribute an additional 40,000 barrels per day to Nigeria’s crude oil production. Lokpobiri made this statement during […]

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Obi condemns fuel hike, says it’s unfortunate, insensitive

The former Anambra State Governor and the Presidential Candidate of the Labour Party, Peter Obi has criticized the recent increase in petrol prices, labeling it as “unfortunate” and “insensitive” to the welfare of Nigerians. He urged the government to reconsider this decision, emphasizing the economic strain it places on citizens. In a series of posts […]

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Maize production costs surge by 69.7% locally – NARLS

The National Agricultural Extension and Research Liaison Services released its 2024 Wet Season Agricultural Performance report on Friday, highlighting increased production costs for staple crops such as rice and maize. According to the Executive Director of NARLS, Prof. Emmanuel Ikani, maize production costs have surged by 69.7 per cent, increasing from N330,621 in 2023 to […]

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Experts demand robust AI regulations to protect African data

Stakeholders at the Nigeria Fintech Week in Lagos urged African governments to strengthen regulations on Artificial Intelligence to protect the continent’s data sovereignty. They warned about the risks of foreign companies gaining control over African data, potentially leading to exploitation and violations of privacy rights and local laws. Experts emphasized the necessity for robust AI […]

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Elon Musk unveils Optimus humanoid robot

Tech billionaire Elon Musk has unveiled the next-generation humanoid robot, Optimus, declaring its capabilities as boundless and setting the stage for a new era in robotics. Musk made the bold announcement at the highly anticipated “We, Robot” event, on Thursday night, just as the tech tycoon unveiled his company’s latest innovation in self-driving vehicles with […]

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