The Department of Petroleum Resources (DPR) on Friday debunked claims that the exact volume of crude oil produced in the country was not known. Mr Paul Osu, Head, Public Affairs, DPR, in... Read more »
China’s economy grew a record 18.3% in the first quarter of 2021 compared to the same quarter last year. It’s the biggest jump in the gross domestic product (GDP) since China started... Read more »
The FG has disclosed that the Middle-East nation of Qatar is set to invest in the Nigerian economy the sum of $5 billion. The Federal Government has said that the oil-rich state... Read more »
The Debt Management Office (DMO) announced the auctioning of three federal government bonds of N150 billion at N1,000 per unit. This was announced on Wednesday. Details obtained from DMO’s website showed that... Read more »
The Central Bank of Nigeria (CBN) has said that Nigeria cannot stop burrowing, especially when it is necessary as it is part of fiscal responsibility. The CBN Governor, Mr. Godwin Emefiele, said... Read more »
The Dangote Cement Group sells its product in Southern African country, Zambia, for at most 110 Kwacha which equals to about N1, 800 in Nigeria, while the same product sells for not... Read more »
MTN customers in Nigeria now have alternative electronic payment platforms to recharge their phones as the mobile network operator on Saturday announced that customers can recharge airtime through payment solutions platforms such... Read more »
The Nigerian National Petroleum Corporation (NNPC) has declared that the pump price per litre of petrol won’t be increased until the federal government concludes negotiations with labour.The group general manager, group public... Read more »
One week after introducing the Naira4Dollar scheme, the Central Bank of Nigeria introduced its Naira4Dollar scheme, $40 million in foreign remittances might have been raked in, Voice of Nigeria reports. The CBN... Read more »
Africa’s largest cement producer, Dangote Cement Plc has remained a major contributor to the economy with a tax charge of N97 billion for the financial year ended Dec. 31, 2020, even as... Read more »
The monetary policy committee of the Central Bank of Nigeria (CBN) has voted to retain the monetary policy rate at 11.5 percent. Godwin Emefiele, the CBN governor, announced the committee’s decision on... Read more »
By Emmanuel Addeh The Nigerian National Petroleum Corporation (NNPC) yesterday vigorously defended the approval of a whopping $1.5 billion for the rehabilitation of the Port Harcourt refinery, maintaining that apart from following... Read more »
The pricing template released by PPPRA effectively shows the government has been paying fuel subsidy despite its denials. As it has become clear the Nigerian government has continued to subsidise the price... Read more »
The Coalition of Northern Groups (CNG) has accused MultiChoice Nigeria Limited, owners and operators of DSTV, of perpetrating bias towards northern media-owned channels on its per-pay-view network services. In a petition sent... Read more »
The Federal Airports Authority of Nigeria (FAAN) has temporarily shut down the E-Finger departure screening point at the Murtala Muhammed International Airport (MMIA), Lagos. The suspension, according to the FAAN, was part... Read more »
The Central Bank of Nigeria and the Nigerian Communication Commission has announced that effective from today, March 16th 2021, USSD services for financial transactions conducted at deposit money banks and all CBN... Read more »
President of the African Development Bank (AfDB), Akinwumi Adeshina, has disclosed that Africa’s collective debt is now put at 70% of Africa’s gross domestic product (GDP). Mr. Adeshina, hence, stated that with... Read more »
The CBN has introduced N7.00 for every USSD request by Nigerian mobile telephone users. The deal was part of an agreement reached with banks amidst a raging disagreement between banks and telecom... Read more »
The United States described the Dangote Group of Companies’ business strategies as disastrous to the Nigerian economy. Owned by Africa’s richest man, Aliko Dangote, it is the largest conglomerate in West Africa... Read more »
The attention of the Petroleum Products Pricing Regulatory Agency (PPPRA) has been drawn to speculations about the increased pump price of PMS. The PPPRA by this release wishes to state clearly that... Read more »
A senior special adviser of President Buhari has come out to to reaffirm Nigeria that once again, the price of fuel will fall below N100 pump price. Ita Enang the special adviser... Read more »
Nigeria’s foreign trade for the fourth quarter (Q4) of 2020 grew by N9.12 trillion, showing an increase of 8.88% as compared to N8.38 trillion marked in the previous quarter. This is according... Read more »
There will be more money for the 2021 budget implementation as the crude oil price on Monday hit $71/ barrel which doubles the $30 benchmark. But the spike in crude oil price... Read more »
A renowned Economist and member of Nigeria’s Economic Management Team (EMT), Bismarck Rewane, on Monday, said the problems of multidimensional poverty, debt and insecurity may consume Nigeria if the country’s Gross Domestic... Read more »
The Central Bank of Nigeria (CBN) has unveiled a new scheme tagged, ‘Naira 4 Dollar’ to woe more Diaspora remittances. Under this scheme, starting from Monday, the apex bank will offer a... Read more »
Nigeria’s Minister of Petroleum Resources Timipire Martin Sylva is leading Nigeria’s delegation for a working trip that will run until March 6th as part of the partnership between OCP and Nigeria’s government.... Read more »
The Nigerian National Petroleum Corporation (NNPC) has advised motorists to stop panic-buying of petrol. It said it has no plan to increase the ex-depot price in March. NNPC spokesman, Dr Kennie Obateru,... Read more »
The Federal Government has concluded plans to sell crude oil to the $15 billion Dangote Refinery in Naira. This is part of measures adopted to strengthen the currency and by extension the... Read more »
Nigeria is currently losing an average of 200,000 barrels of crude oil daily, the Nigerian National Petroleum Corporation stated on Wednesday. Brent, the oil against which Nigeria’s crude is priced, was $66.75... Read more »
Against the backdrop of the rising price of oil prices , the landing cost of Premium Motor Spirit ( petrol) imported into Nigeria has increased to N 186. 33 per litre .... Read more »
Nigeria’s higher production costs and return of subsidy due to backlash from the public and labour unions are currently undermining the country’s ability to improve its revenue from the rising global oil... Read more »
Nigeria’s Gross Domestic Product (GDP) grew by 0.11%(year-on-year) in real terms in the fourth quarter of 2020, representing the first positive quarterly growth in the last three quarters. Though weak, positive growth... Read more »
Oil marketers have said they are ready to resume importation of Premium Motor Spirit (petrol) if foreign exchange is made available to them at a competitive rate The Chairman, Major Oil Marketers... Read more »
Cement is a necessary commodity that appreciates on daily basis because of its high demand in the market. However, The demand for cement on daily basis is bigger than the supply this... Read more »
By. Saviour Imukudo Beneficiaries of a federal government monthly “survival” grant, who work in a hotel in Akwa Ibom State, have been forced to surrender the money for three months to the... Read more »
Marketers have said with the current realities in the global crude oil markets, the price of Premium Motor Spirit (petrol) in Nigeria should be between N185 and N200 per litre, unless the... Read more »
Access Bank and American Express have launched a partnership to broaden the acceptance and usage of American Express Cards in Nigeria. This announcement places Access Bank as the first full-service bank to... Read more »
Zenith Bank Plc has again emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2021. For the fourth consecutive year, Zenith Bank has been... Read more »
Indications have emerged that the Petroleum Industry Bill (PIB) may suffer setback if the Federal Government fails to approve the 10 per cent of operational gains being demanded by the Host Communities... Read more »
The Nigerian government generated a total sum of 1.53 trillion naira revenue from Value Added Tax (VAT) in 2020, up by 29.3% when compared to 1.18 trillion naira recorded in 2019. This... Read more »
Nigeria’s Inflation rate now stands at 15.75 per cent, the highest since 2017. This is according to the data released by the Bureau of Statistics. Inflation stood at 15.75 per cent in... Read more »
Latest data from the Nigerian Bureau of Statistics (NBS) has revealed that a total of N9.28tn was spent on the importation of manufactured goods into the country between January and September 2020.... Read more »
Cement is manufactured through a closely controlled chemical combination of calcium, silicon, aluminum, iron, and other ingredients. Common materials used to manufacture cement include limestone, shells, and chalk or marl combined with... Read more »
The prices of cement in the last four months has risen to a record high. First it was attributed to the rumoured maintenance in the production plant of UNICEM in Calabar. Then... Read more »
Petroleum arketers in some parts of the country have failed to adjust the pump price of Premium Motor Spirit (PMS) better known as petrol to N162, despite agreements between Federal Government and... Read more »
During the police brutality protests in Nigeria in October, bitcoin saved the day when the government shut out protesters from using local payment platforms for collecting donations to support it. The young,... Read more »
A contempt charge has been instituted against the Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, over his alleged refusal to order payment of 182 billion naira to the Ogoni... Read more »
The perennial human capital crisis in the banking sector got worse in the past few months. This was partly triggered by increasing disengagement of employees, which insider sources described as “worrisome”. The... Read more »
After December 30, all Subscriber Identification Modules that are not registered with valid National Identification Numbers on the network of telecommunications companies shall be blocked, the Federal Government has said. It was... Read more »
The amount spent on the importation of petroleum products into Nigeria rose to N700.46bn in the third quarter of this year, moving closer to the pre-COVID-19 level, the latest data from the... Read more »
Mr Sabo Nanono, the Minister of Agriculture and Rural Development, says there is the need for Nigerians to accord agriculture its prime position a good replacement for the dwindling crude oil.Nanono gave... Read more »
Nigeria’s federal government is considering new oilfield licensing rounds next year, especially in the deep and ultra-deep waters of the Niger Delta, the Group Managing Director of the Nigerian National Petroleum Corporation... Read more »
For many people the human desire to win can be so overwhelming that the only option is to cheat your way to victory, and this has been true since pretty much the... Read more »
It’s always fun to play slots, and that’s how it should be. Trying to play just to win because you want a life changing sum of money to suddenly fall into your... Read more »
Nigeria’s 1.5 billion dollar budget support loan request is “still in the works”, says Shubham Chaudhuri, World Bank Country Director for Nigeria. Chaudhuri said this on Thursday in Abuja, at a media... Read more »
Mobile network operators in the country comprising MTN, Globacom, Airtel, and 9mobile have all crashed their data prices by at least 33.3 per cent, New Telegraph has learnt. From the average cost... Read more »
Against the backdrop of the N5 reduction in the price of Premium Motor Spirit (petrol) announced by the Federal Government, fuel marketers have said it is not possible to sell the product... Read more »
Following the resumption of talks between the Federal Government (FG) and the leadership of the Organised Labour over the recent hike in the price of fuel and electricity tariff, the FG has agreed to... Read more »
The world’s largest foodmaker Nestlé is to spend €3bn equivalent of about $3.6bn in the next five years on measures to cut its greenhouse gas emissions, in the biggest financial commitment to... Read more »
The best New Year Sale comes every year and it provides exclusive discount offers and other deals for the customers. The sale gives you the best opportunity to take benefit of the... Read more »