The Federal Government has announced the provision of new tax reliefs for deep offshore oil and gas production to boost investments in the sector. It also announced that the importation of key energy products and infrastructure, including diesel, feed gas, Liquefied Petroleum Gas, Compressed Natural Gas, electric vehicles, Liquefied Natural Gas infrastructure, and clean cooking […]
The Minister of Aviation and Aerospace Development, Festus Keyamo, on Wednesday said the return of Emirates Airlines to Nigeria after two years will lead to healthy competitive pricing for the good of Nigerians. He stated this in Lagos upon arrival aboard an Emirates aircraft from the United Arab Emirates, saying the airline had returned to […]
The United Arab Emirates (UAE) flag carrier Emirates flight landed at the Murtala Muhammad International Airport (MMIA), Lagos, on Tuesday. This is coming two years after the suspension of operation by the airline over several issues including unresolved trapped funds belonging to the airline. However, the flight EK 783 which touched down at the old […]
The Central Bank of Nigeria (CBN) has extended the suspension of processing fees on cash deposits for six months. The development comes six days before the suspension date initially fixed, expires. On May 1, banks resumed the collection of processing fees on cash deposits. Six days later, CBN suspended charges on the deposits until September […]
THE Nigeria Extractive Industries Transparency Initiative (NEITI), says outstanding collectible revenues due to the Federal Government in the oil and gas industry have risen to 6.071 billion dollars and N66.4 billion as at June 2024, respectively. According to the News Agency of Nigeria (NAN), NEM disclosed this on Thursday in Abuja at the public presentation […]
The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the monetary policy rate, which measures the benchmark interest rate, to 27.25 per cent. The monetary policy rate is the baseline interest rate in an economy. Every other interest rate used within an economy is built on the MPR. Addressing journalists […]
PZ Cussons Plc, the parent company of PZ Cussons Nigeria, has concluded plans to sell its African subsidiaries, citing the depreciation of the Naira as the major reason. Reviewing the company’s ‘Results for the year ended 31 May 2024’, Jonathan Myers, PZ Cussons’ Chief Executive Officer, said Nigerians are facing unprecedented inflation and economic difficulties, […]
Nigeria’s fuel price hike has sparked widespread concerns, with many pointing fingers at oil producers, particularly local operators like Dangote Refinery. However, OPEC Secretary General, Haitham Al Ghais, has set the record straight, revealing that the real reasons behind high fuel prices lie elsewhere—primarily in taxes imposed by governments, including those of major oil-consuming nations. […]
The Federal Government has announced that the Nigerian National Petroleum Company Limited will be the sole buyer of Premium Motors Spirit from Dangote Refinery. It also noted that interested marketers would have to buy the product from the national oil firm through its trading company. This was part of the agreement reached with the management […]
Records of all Point of Sale (PoS) transactions are to be submitted every month henceforth, the Central Bank of Nigeria (CBN) said yesterday. The apex bank has already directed two licensed Payment Terminal Service Aggregators (PTSAs) – Nigeria Interbank Settlement System PIc (NIBSS) and Unified Payment Services Limited (UPSL) – to carry out the directive. […]
