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CPPE warns reversing economic reforms could harm Nigeria’s economy

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CBN appoints Gidado as Polaris Bank board chair

The Central Bank of Nigeria has announced the new board of directors for Polaris Bank. In a statement released on Monday, the bank revealed that Kassim Gidado has been appointed as the board chairman. Gidado, who is currently the Chief of Staff at MAG Group Limited and an advisor to various governments, will lead the […]

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FG reassures civil servants of IPPIS database security

The Federal Government has reaffirmed the security of the Integrated Personnel and Payroll Information System database, following concerns about its safety. The Office of the Accountant-General of the Federation, through Director of Press and Public Relations Bawa Mokwa, issued this reassurance on Monday in Abuja, according to The Punch. Recent reports suggested that the IPPIS […]

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NERC mandates 398MW embedded power for Discos to boost electricity

The Nigerian Electricity Regulatory Commission has mandated that Distribution Companies procure a minimum of 398MW of embedded generation to improve power supply reliability. Embedded generation involves power plants connected to a distribution network rather than the national grid. This directive, outlined in the September 2024 Supplementary Order to the Multi-Year Tariff Order 2024, requires each […]

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Okonjo-Iweala announces bid for another four-year term as WTO head

The World Trade Organisation Director-General, Ngozi Okonjo-Iweala, announced her intention to seek a second four-year term as head of the trade organisation. This was disclosed by Okonjo-Iweala during an interview with Reuters on Monday. she expressed a desire to address “unfinished business” from her first term. Okonjo-Iweala, who began her role in March 2021 as […]

has presented its 2024 Regulatory Impact Assessment, a comprehensive review aimed at overhauling existing telecom regulations
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110 million Nigerians now have acquired NIN – NIMC

The Director General of the National Identity Management Commission, Abisoye Coker-Odusote, has announced that over 110 million Nigerians have received the National Identification Number. This was disclosed by Coker-Odusote at the 6th National Identity Day themed, “Digital Public Infrastructure (DPI) – Enabling Access to Services,” on Monday, according to Nairametrics. By the end of 2023, […]

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Manufacturers warn FG against ban of single-use plastics

The Manufacturers Association of Nigeria has criticized the proposed nationwide ban on single-use plastics, cautioning that it could adversely affect many small businesses. This was disclosed in a statement by the Director General of MAN, Segun Ajayi-Kadir, according to The Vanguard. Ajayi-Kadir highlighted the potential economic repercussions for manufacturers, noting that the ban would require […]

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IPMAN knocks NNPC’s sale of Dangote petrol higher than imported fuel

The Independent Petroleum Marketers Association of Nigeria has expressed concerns regarding the pricing of petrol from the Dangote Refinery, urging the Nigerian National Petroleum Company Limited to ensure it is not priced higher than imported fuel. IPMAN argues that such a pricing disparity would undermine Nigeria’s efforts towards energy self-sufficiency and could negatively affect both […]

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Inflation rate slows for second month, hits 32.15% in August

Nigeria’s headline inflation rate decreased to 32.15% in August 2024, down from 33.40% in July, according to the Consumer Price Index report by the National Bureau of Statistics. This marks the second consecutive month of easing inflation. Despite this monthly decline, the August 2024 rate remains 6.35 percentage points higher than the 25.80% recorded in […]

NNPCL sets fuel price above N1000 per litre
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NNPC issues updated breakdown of estimated petrol price

The Nigerian National Petroleum Company Limited has released a new breakdown of the estimated price of petrol purchased from Dangote Refinery. AMBusiness earlier reported that in a statement on Monday, NNPC provided a detailed chart showing the refined petrol product purhased from the refinery on Sunday. The company noted that it is currently paying for […]

News

Report reveals banks borrowed N3trn from CBN in one week

Nigerian banks and discount houses borrowed N3 trillion from the Central Bank of Nigeria through the Standing Lending Facility in a single week, according to Afrinvest Research. During the same period, the lenders and discount houses,  deposited N493.6 billion via the Standing Deposit Facility. According to the report, the surge in borrowing led to a […]

News

Stop alleged supply monopoly by Dangote refinery, DAPPMAN tells FG

The Depot and Petroleum Products Marketer’s Association of Nigeria has called on the Federal Government to remove restrictions on marketers sourcing products exclusively from Dangote Refinery. DAPPMAN is the group of oil marketers accused by the Vice President of Dangote Industries Limited, Devakumar Edwin, to have reported the Dangote Refinery to President Bola Tinubu for […]

How FG can boost Nigeria's digital growth - Analyst
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Telcos set to disconnect phone lines not linked to NIN

Telecommunications operators are preparing to disconnect mobile lines that have not been linked to National Identification Numbers, following the Nigerian Communications Commission’s September 14 deadline. The NCC had announced in August that from September 15, no SIM card would remain active without a verified NIN. The regulator urged subscribers who had not yet completed their […]

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