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  • 8th May 2025

Lagos partners BOI, Sterling Bank to boost MSMEs

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  • 7th May 2025
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  • 7th May 2025

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Soviet-era spacecraft ‘likely’ re-entered Earth’s atmosphere – Report 

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Speculative FX demands cause of weak naira - CBN

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FAAN diverts two Kano-bound aircraft to Lagos over runway light outage

FAAN unveils modern domestic cargo facility in Lagos 

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Customs, FAAN ranked worst-performing agencies in May 2024
Economy

Border reopening: Experts predict 60% rise in vehicle smuggling

Few days after the Federal Government announced the reopening of four land borders, stakeholders, including clearing agents and car dealers, have predicted a 60 per cent increase in the smuggling of vehicles into the country. The Federal Government had, last weekend, approved the reopening of Idiroko, Jibia, Kamba and Ikom land borders. This is coming […]

Energy

After spending over $8bn on Ajaokuta, Nigeria imports N837bn steel

Steelmakers are sceptical about the planned concession of Ajaokuta Steel Company Limited after Nigeria imported iron, steel, and metals valued at N837.761bn in the third and the fourth quarters of 2021. According to the National Bureau of Statistics, Africa’s most populous nation brought in basic metals, iron, and steel products with 6000mm in width, rolled, […]

Why oil theft estimates are unrealistic- Navy
Oil and Gas

OPEC cuts 2022 oil demand over economic concerns

The Organisation of Petroleum Exporting Countries has revised the demand for crude oil in 2022 downward following the concerns around global economic growth. OPEC’s Secretary-General, Sanusi Barkindo, announced this at the 62nd Meeting of the Joint Technical Committee via videoconference. He also stated that the loss of crude oil and other liquids exports of more […]

Economy

Nigeria’s equities market to remain positive in 2022, say analysts

Parthian Securities’ analysts have predicted that the Nigerian equities market will remain positive due to the increased participation of domestic players in 2022, despite being a pre-election year. Parthian Securities said in a statement that four months after the maiden edition of its free investment clinic tagged ‘Bears and bulls series’, it had held another […]

Transportation

FG threatens port terminal operators over service fee

The Federal Government has said that proper implementation of the Practitioners Operating Fee will promote global competitiveness, threatening sanctions on operators who fail to comply with its collection. It said POF would build capacity for effective participation of Nigeria in the African Continental Free Trade Area Agreement. The Permanent Secretary, Federal Ministry of Transportation, Mrs […]

X to offer paid users xAI chatbot - Musk
News

Twitter won’t be free for commercial, govt users, says Elon Musk

Elon Musk, on Wednesday, said Twitter commercial and government users may have to pay to use the micro-blogging platform. Twitter on Monday, April 25, confirmed the selling of the platform to Musk in a deal valued at $44 billion. The sale was a dramatic shift for the board, which had originally manoeuvred to block Musk […]

World Bank punishes Nigerian firms, individuals for corruption
Economy

World Bank to review poverty index over inflation, others

The World Bank plans to revise the global poverty line from $1.90 to $2.15 due to increases in the costs of basic food, clothing, and shelter across the world. This was contained in a Fact Sheet post titled ‘An Adjustment to Global Poverty Lines’, which was published on the bank’s website on Monday. The post […]

Energy

Cooking gas: Nigeria needs $750m for 5MMT annual consumption

NIGERIA requires about $750m investment in the transportation and retailing infrastructure for Liquefied Petroleum Gas, popularly called cooking gas, to achieve the target of five million metric tonnes of annual consumption, operators in the LPG space have said. Speaking at the 2nd Annual Virtual LPG workshop organised by the African Refiners and Distributors Association, which […]

Power generation dropped 43mw after worker's strike - FG
Electricity

Power firms owe banks N861.14bn amid electricity crisis

THE debt owed to Nigerian banks by operators in the power sector rose by 12.83 per cent in one year to N861.14bn in December 2021 amid the lingering problems plaguing the sector since it was privatised over eight years ago, according to the Central Bank of Nigeria data. In July 2020, core investors in the […]

Telecommunications

Nigerians to pay more as telcos plan 40% tariff hike

Telecommunication companies are proposing a 40 per cent increase in the cost of calls, SMS, and data to the Nigerian Communications Commission as a result of the rising cost of running a business in the nation. Based on their proposal, the price floor of calls will increase from N6.4 to N8.95 while the price cap […]

Transportation

50 passengers rescued as fire guts aircraft tyres in Port Harcourt

At least 50 passengers were rescued when fire gutted the tyres of an aircraft operated by Dana Airlines Limited in Port Harcourt. The incident occurred on Monday evening at the Port Harcourt airport, our correspondent learnt. It was also gathered that no life was lost and no passenger was injured as first responders including operatives […]

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  • 3rd May 2022
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