Nigerian Communications Commission (NCC) says Starlink, a communication company, is facing regulatory heat over an unapproved data tariff hike. The NCC said the satellite internet service provider had unilaterally increased its data tariffs without obtaining the necessary approval from the commission. Its Director of Public Affairs, Dr Reuben Muoka, in a statement in Abuja on […]
The Federal Government is set to deliver up to 400,000 barrels of Nigerian crude oil daily to the Dangote refinery under its naira-for-crude agreement, a report by Bloomberg stated on Monday. It said this significant development is expected to take place over the next two months, amounting to 24 million barrels of Nigerian supply between […]
The federal government says Nigeria has officially commenced the sale of crude oil and refined petroleum products in naira. Wale Edun, minister of finance and coordinating minister of the economy, in a statement on Saturday, announced that in line with the federal executive council (FEC) directive, the sale of the products in naira commenced on […]
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, […]
