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Economy

Inflation hits 15.92%, highest in five months

Nigeria’s Consumer Price Index rose to 15.92 per cent in March, latest figures from the National Bureau of Statistics show. This new rate is the highest the country has recorded since November 2021, when inflation rate dropped to 15.99 per cent. The rise in the inflation rate in March shows that Nigeria is not left […]

News

FG probes Indorama, Total, 10 others over expatriate quota

The Federal Government has identified Indorama Eleme Petrochemical Limited, International Business Machines West Africa, Stallion Motors Limited, Liaoning-Efacec Electrical Equipment Co. Nig. Ltd; and Total Nigeria Plc, for allegedly abusing the Expatriate Quota Positions in the country. Other companies under investigation include AMNI, Sinohydro Zungeru Hydroelectric Power Project Company Limited, Alliance Nigeria Insurance Limited, Yinson […]

Transportation

LCC postpones resumption of tolling at Ikoyi Link Bridge

The Lekki Concession Company Limited, the operators of the Ikoyi Link Bridge and the Admiralty Circle Plaza, has postponed the resumption of tolling at the Ikoyi Link Bridge. LCC Managing Director, Yomi Omomuwasan, announced the postponement in a statement on Friday night, adding that a new resumption date would be announced. The postponement followed several […]

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  • 15th April 2022
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News Transportation

Heavy security as tolling resumes at Lekki-Ikoyi bridge

There was heavy security at the Lekki-Ikoyi Link Bridge on Friday ahead of the resumption of toll payment on the bridge. It was gathered that no fewer than five security vehicles and many policemen have been stationed on the bridge. The Lekki Concession Company had announced that it would resume toll operations at the Lekki-Ikoyi […]

Nigeria, Morocco commence 5,600km gas pipeline project
News

NNPC to deliver $2.6bn gas pipeline Q1 2023

The Nigerian National Petroleum Company Limited and its contractor handling the bulk of the $2.6bn Ajaokuta-Kaduna-Kano gas pipeline project, Oilserv Limited, on Thursday stated that natural gas would be transported through the AKK pipeline in the first quarter of 2023. Both firms made stated this during an inspection tour of the construction work on the […]

Naira falls N777 against dollar after CBN announcement
Economy News

Naira exchanges 590 to dollar ahead of Easter

The naira slumped further and exchanged to the dollar at 590 on Thursday at the parallel market ahead of the Easter festive period. Some Bureau de Change operators who spoke to our correspondent said the dollar was bought and sold at 585 and 590 on Thursday. On Monday, the naira had earlier traded to the […]

Economy News

How Nigeria can lower debt service-to-revenue –DMO

The Debt Management Office has said that Nigeria can lower its debt service-to-revenue ratio if it generates higher revenue like Ghana, Kenya, and Angola. According to the DMO, while Nigeria has a revenue-to-Gross Domestic Product ratio of nine per cent, Ghana, Kenya and Angola have a revenue-to-GDP ratio of 12.5 per cent, 16.6 per cent, […]

Trapped forex: Expert pushes for ticket purchase in dollars
Aviation News

Airlines, agents to begin sale of tickets in dollar

Some of the foreign airlines flying into Nigeria will on April 19 begin the sale of their tickets in dollar amid the worsening shortage of foreign exchange in the country. The development came as foreign carriers’ unremitted ticket sale proceeds in Nigeria reportedly hit $283m (about N116.87bn) recently. It was learnt on Wednesday that international […]

Housing News

Two Ikoyi high-rise buildings fail integrity test, risk collapse

Two high-rise buildings in Ikoyi, Lagos are at risk of collapse after failing experts’ integrity test, The PUNCH has learnt. A high-rise building under construction by Fourscore Heights Limited along Gerrard Road in Ikoyi had collapsed on November 4, 2021, killing at least 44 persons. It was also reported that the Lagos State Government had […]

Economy News

NASS to pass Buhari’s revised 2022 fiscal framework today

The Senate and the House of Representatives will on Thursday (today) pass the revised 2022 fiscal framework of the Federal Government. The President of the Senate, Ahmad Lawan, made this known after the report of the Committee on Finance was stepped down today for consideration at the plenary on Wednesday. The Majority Leader, Yahaya Abdullahi, […]

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