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FG spends N40.1bn daily as fuel subsidy hits N600 per litre – Operators

Fuel scarcity, others raised inflation rate to 15.7% in February –NBS

The Consumer Price Index rose to 15.7 per cent in February from 15.6 per cent in January, latest figures from the National Bureau of Statistics have revealed. The NBS disclosed this in its ‘Consumer Price Index February 2022’ report on Tuesday. According to the NBS, the highest increases were recorded in prices of gas, liquid […]

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15th March 2022
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Power generation dropped 43mw after worker's strike - FG

Energy

Blackout as national grid collapses

Power generation on the national grid collapsed to zero megawatts around 10.40am on Monday, leading to widespread blackout across the country. Different power distribution companies alerted their customers about the grid collapse, stressing that it was what led to the outages. Enugu Disco, for instance, described it as a general system collapse, adding that the […]

agencyreport
15th March 2022
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Uber settles US lawsuit for overcharging persons with disabilities

News

E-hailing cab drivers halt operations in Rivers

E-HAILING cab drivers have halted operations in parts of Port Harcourt as they protested against an alleged unhealthy work relationship with the e-hailing companies they ride for. About 100 drivers lined the streets of Port Harcourt, Rivers State on Monday to voice their grievances. The cab drivers, who carried placards with several inscriptions, marched through […]

agencyreport
15th March 2022
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News

FG begins agro-investment scheme for N-Power beneficiaries

The Federal Government on Monday inaugurated the NEXIT/CBN agri-business small and medium enterprises investment scheme for exited N-Power beneficiaries in batches A and B. Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, who inaugurated the scheme in Abuja, stated that out of the 467,183 trainees who indicated interest, 75,600 would participate in […]

agencyreport
15th March 2022
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New naira'll make ransom payment difficult - CBN

Policy and Regulations

CBN sets N1m limit for cash collection centres

The Central Bank of Nigeria has pegged the minimum transaction limit for corporate and individuals transacting with Bank Neutral Cash Hubs at N1m and N500,000 respectively. The banking regulator disclosed this in a guideline for the registration and operation of Bank Neutral Cash Hubs in Nigeria released on Monday. It said, “The threshold for eligible […]

agencyreport
15th March 2022
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Ports and Airports

Lekki seaport’ll contribute $360bn to Nigeria’s GDP – FG

The Lekki Deep Seaport in Lagos Free Trade Zone is going add about $360bn to Nigeria’s Gross Domestic Product within 45 years, the Federal Government announced on Sunday. The Minister of Transportation, Rotimi Amaechi, who announced this after inspecting the seaport, also stated that the facility would begin commercial operations in September this year. He […]

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14th March 2022
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Economy

Bakers threaten shutdown as diesel price soars

Bakers under the aegis of Premium BreadMakers Association of Nigeria are mulling a total shutdown of operations, following steady and fast increases in the price of diesel in the past few days. The association said the continued rise in the price of diesel had made the price of the commodity to be doubled, warning that […]

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14th March 2022
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Energy

Negotiations with labour on fuel subsidy removal still ongoing – FG

The Federal Government is still in negotiations with the organised labour as regards the removal of subsidy on Premium Motor Spirit, popularly called petrol, it was gathered on Sunday. Officials of the Nigerian National Petroleum Company Limited and the Nigerian Midstream and Downstream Petroleum Regulatory Authority stated that the removal of subsidy on petrol had […]

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14th March 2022
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Economy

FG inaugurates 35-hectare Imo farm estate

THE Federal Government has inaugurated the rehabilitated 35-hectare Achara-Ubo Emekuku Integrated Farm Estate in Imo State, engaging about 1,000 farmers in the project. It said the rehabilitated farm estate, which was abandoned for about 30 years, now had six poultry houses with 18 pens that contain about 15,000 birds, three goat houses with 196 goats […]

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14th March 2022
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Appointments

Wakanow appoints Aleshinloye head of marketing

Wakanow, a travel agency, has announced the appointment of Muyiwa Aleshinloye as its new head of Marketing. The agency disclosed this in a statement. It said, “Effective immediately, Muyiwa will be tasked with overseeing and driving end-to-end marketing strategies for all the brands under his portfolio. “Prior to his new role, the newly appointed marketing […]

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13th March 2022
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Policy and Regulations

CBN releases operating guidelines for R200 policy

The Central Bank of Nigeria has released guidelines for the operationalisation of its R200 policy. The apex bank recently initiated the R200 policy in an effort to reduce exposure to volatile sources of foreign exchange and to earn more stable and sustainable inflows. The policy is aimed at raising 200 billion dollars in Foreign Exchange […]

user
6th March 2022
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Ports and Airports

FG urged to complete Sokoto airport hajj terminal

A member of the House of Representatives from Dange/Shuni/Bodinga-Tureta Federal Constituency, Balarabe Shehu-Kakale, has urged the Federal Government to complete the international Hajj Terminal at the Sultan Abubakar III International Airport, Sokoto. Shehu-Kakale, who spoke to the News Agency of Nigeria in Abuja, on Sunday, said, ”We are calling on the Federal Ministry of Aviation […]

user
6th March 2022
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BUA cement announces revised date for ₦2.05 dividend

Lagos partners BOI, Sterling Bank to boost MSMEs

Disney beats Q2 expectations with strong Disney+ subscriber

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