President Muhammadu Buhari has urged more Nigerians to embrace farming, saying he was surprised to hear that only 2.5 per cent of arable lands in the country is being cultivated. The President said this while addressing journalists at his residence on Tuesday in Daura, the Katsina State capital, after the Eid-el-Kabir prayers. According to him, […]
Nigerians have again bemoaned yet another increase in domestic gas prices, the fourth of such increases in two months. Findings by Daily Trust in Lagos, Abuja, Kano, Kaduna, Port Harcourt, Enugu, Ibadan and few other cities across the country on Wednesday and Thursday showed that marketers of cooking gas have increased prices of various kilogrammes […]
Data from the National System Operator, an independent unit in the Transmission Company of Nigeria, TCN, showed that it was a 19.32 percent higher than the 4,042.40MW generated on Friday. NSO data as at 8pm on Sunday showed that Ikeja DisCo was the highest load taker with 694,12MW, followed by Ibadan DisCo with 535.91. Eko […]
The Nigerian Communications Commission (NCC) has said it is still reviewing Airtel Nigeria’s operating licence renewal application. Reacting to a media report, which quoted the Managing Director/Chief Executive Officer of the telecommunications firm, Segun Ogunsanya, as saying the organisation had renewed the document for another 10 years, the regulator, in a statement signed by its […]
The Organisation of Petroleum Exporting Countries (OPEC) and its allies on Sunday agreed to increase global oil production by 400,000 barrels per day. OPEC and its Russia-led oil-producing allies, OPEC+, agreed to unleash barrels of bottled-up crude over the next two years by committing to restore all of the cuts they made at the start […]
The Central Bank on Nigeria has restricted the importation of sugar into the country to three companies: BUA Sugar Refinery Ltd, Dangote Sugar Refinery Plc, and Golden Sugar Company. The CBN stated the reason the three companies were the only ones allowed to import sugar into the country is because of their notable contribution to […]
The consumer price index (CPI), which measures the rate of change in prices of goods and services, dropped to 17.75 percent in June from 17.93 in May. This is according to the ‘Consumer Price Index Report for June’, released by the National Bureau of Statistics (NBS), on Friday. On month-on-month basis, the Headline index increased […]
The House of Representatives has stepped down the controversial Petroleum Industry Bill after an hour-long closed-door session. Further deliberation is expected to hold over the decision while the House is on recess. Earlier in the day, lawmakers from the South-South had opposed the harmonised PIB allocation to host communities which was pegged at three per […]
The Board of Directors of First City Monument Bank (FCMB) Group Plc has announced the appointment of Yemisi Edun as the Managing Director (MD) of FCMB Limited. This announcement is subsequent to the end of service of the bank’s former Managing Director, Adam Nuru. The Board had earlier reviewed media allegations made in late 2020 […]
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said President Muhammadu Buhari’s assent to the Petroleum Industry Bill (PIB) will automatically end fuel subsidy as the legislation only state that market forces should determine fuel and allied products’ prices. Slyva disclosed this in Abuja Monday evening at a media briefing to commemorate […]
