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FG suspends mining in Niger over bandits attack

The federal government has suspended all mining activities in Unguwar Magro Village, Niger State, following the recent murder of 12 miners by bandits. The Minister of Solid Minerals Development, Dr Dele Alake announced the suspension via a statement on his official X handle, in response to reports of foreign nationals allegedly funding illegal mining operations […]

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Inflation drove Nigerians to borrow N4.82tn in Q1 2024 – CBN

Nigerians borrowed approximately N4.82 trillion from banks between January and March 2024, driven by the rising cost of living. In the Central Bank of Nigeria’s First Quarter 2024 Economic Report, consumer credit outstanding surged by 268.9%, reaching N8.24 trillion at the end of March, up from N3.42 trillion in December 2023 The sharp increase reflects […]

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NACCIMA demands strengthening of cooperatives to boost SMEs

The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Dele Oye, has emphasized the need to strengthen cooperative societies to enhance the capacity of Small and Medium Enterprises across Nigeria. Speaking at the recently concluded 8th National Cooperative Summit Exhibition and Awards 2024, Oye highlighted the critical role cooperative […]

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FG boosts power supply with new plants at six universities

The Federal Government, through the Rural Electrification Agency has installed power plants at six federal universities to bolster reliable power supply in crucial sectors. The institutions benefiting from this upgrade include the University of Abuja, University of Maiduguri, Michael Okpara University of Agriculture in Umudike, Federal University Gashua in Yobe, Federal University of Agriculture in […]

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DAAR communications board shakeup overdue – Dokpesi

The Chairman of the Board of Directors of DAAR Communications Plc, Raymond Dokpesi Jr, has described his recent retirement from the company’s management team as long overdue. This was disclosed by Dokpesi while commenting on the changes, according to The Punch. The announcement of these changes came through a statement sent to the Nigerian Exchange […]

FG plans major fiber-optic cable expansion across Nigeria
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FG plans major fiber-optic cable expansion across Nigeria

The Federal Government is gearing up for a major infrastructure boost, with plans to deploy 90,000 kilometers of fiber-optic cable across Nigeria within the next six months. Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, announced this ambitious project while detailing recent achievements of the Ministry. This extensive deployment aims to significantly enhance […]

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FG to launch 90,000km fibre-optic cable across Nigeria

The Federal Government is preparing to launch the deployment of 90,000 kilometers of fiber-optic cable across the country. This initiative, expected to commence within the next six months, is a cornerstone of the government’s strategy to enhance connectivity nationwide. This was disclosed in a statement by the Minister of Communications, Innovation, and Digital Economy, Dr […]

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Oando completes acquisition of Nigerian Agip Oil Company for $783m

Oando PLC has successfully finalized the acquisition of Nigerian Agip Oil Company from Italian energy conglomerate Eni, marking a pivotal moment in the company’s growth trajectory. The transaction, valued at $783 million, underscores Oando’s commitment to strengthening its presence in Nigeria’s oil and gas industry. This was disclosed by the company in a press release, […]

Bolt launches dash cam safety feature for Nigerian drivers
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Bolt cracks down on fake ride requests in Nigeria, South Africa

Ride-hailing app Bolt has blocked numerous accounts involved in a growing trend of fake ride requests, where users request rides only to cancel them after a driver accepts. This disruptive practice has been primarily observed in Nigeria and South Africa. To combat the issue, Bolt has also implemented restrictions on intercountry ride requests between the […]

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Netizens slam FG over passport fee hike

The Federal Government has recently announced a significant increase in passport fees, leading to widespread reactions on social media. Under the new pricing structure, effective September 1st, 2024, the cost of a 32-page passport booklet with a 5-year validity will rise from N35,000 to N50,000. Meanwhile, the 64-page booklet with a 10-year validity will see […]

Dangote Refinery loses N32.5bn after petrol price cut
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Dangote Refinery shifts focus to local crude amid govt support 

The Dangote Refinery, Africa’s largest with a capacity of 650,000 barrels per day, is set to significantly reduce its reliance on imported crude oil from the United States, turning instead to Nigerian suppliers. The refinery is expected to source over 80% of its crude oil domestically in the third quarter of 2024, up from less […]

FG threatens to revoke oil block licenses over inactivity
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FG threatens to revoke oil block licenses over inactivity

The Federal Government has issued a stern warning to companies and individuals holding oil block licenses who have failed to secure investment or commence exploration, stating that their licenses will be revoked if they do not take action. State Minister of Oil, Heineken Lokpobiri, delivered this warning in a statement on Wednesday in Abuja, addressing […]

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