adminAviation Workers Move To Ground Airports As Pilots, Engineers Prepare For Labour Strike
Aviation workers including pilots and engineers have issued notice of indefinite nationwide strike beginning from Tuesday October 2, 2023. This is in reference to the strike declared by the…
Tinubu has not reintroduced fuel subsidy — APC
The ruling All Progressives Congress APC has dismissed concerns that the President Bola Tinubu administration may have reintroduced fuel subsidy through the back door, saying the government only intervened…
OPEC: Nigeria now second largest producer in Africa as oil output rises to 1.18m bpd
The Organization of the Petroleum Exporting Countries (OPEC) says Nigeria’s oil production increased to 1.18 million barrels per day (bpd) in August 2023 — up from 1.08 million barrels…
BREAKING: CBN stops banks from utilising FX gains caused by naira devaluation
The Central Bank of Nigeria (CBN) has asked deposit money banks (DMBs) to stop utilising gains from the revaluation of the naira to pay dividends or finance operations. CBN…
Global Rice Prices Hit 15-Year High After India Curbs
Global rice prices reached a 15-year high in August after top exporter India banned some overseas sales of the grain, the Food and Agriculture Organization said Friday. While global…
Fuel price rise 9.5% above official price in some states — NBS
The National Bureau of Statistics (NBS) report titled, “Premium Motor Spirit (Petrol) Price Watch” for July 2023, showed that Borno state topped the price chart at N657.27 per litre,…
Nigeria’s net FX reserves likely fell to $3.7bn at end of 2022, says JP Morgan
JP Morgan, an American multinational financial services firm, estimates that Nigeria’s net foreign exchange (FX) reserves fell to $3.7 billion as of the end 2022 . This is contained in…
Subsidy Removal Is For ‘Better Tomorrow,’ Bear With Us, Tinubu Tells Nigerians
President Bola Tinubu has called on Nigerians to be patient with his administration in the wake of the fuel subsidy removal, saying the move is in the country’s best…
Forex crisis: NNPCL secures $3bn loan to stabilise naira
The Nigerian National Petroleum Corporation Limited has secured a $3 billion crude repayment loan to support the naira and stabilise the foreign exchange market, a terse statement posted on…
REPORT: Tinubu considering ‘temporary subsidy’ on petrol as landing cost rises
President Bola Tinubu is considering a “temporary subsidy” on petrol as crude oil prices and foreign exchange rates continue to soar, TheCable understands. There is yet no final decision,…
Labour to embark on fresh strike over fuel hike
The Organised Labour has vowed to proceed with a total, comprehensive and indefinite nationwide shutdown of the country, should there be another increase in Petrol Pump price from the…
Naira slump: Fuel price may go up, say marketers
The fall of the naira against the United States dollar, coupled with the recent rise in global crude oil prices, is making Nigerians apprehensive of a possible hike in…
Naira tumbles to all-time low of N950/$ at parallel market
The naira fell to an all-time low of N950 to a single dollar at the parallel market on Thursday afternoon. The figure represents a N53 or 5.9 percent depreciation…
Comprehensive Audit Of CBN Underway – Tinubu
President Bola Tinubu has said a comprehensive forensic audit of the Central Bank is underway. The president also hinted that a thorough overhaul of the civil service payroll is…
CBN Increases Interest Rate
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the benchmark interest rate (MPR) by 25 basis points to 18.75% from its initial 18.5%,…
