7:11 PM January 23, 2022

Economy and Business

Fuel subsidy: TUC directs state councils, affiliates to prepare for strike

Following the decision of the Federal Government to remove the subsidy on Premium Motor Spirit with effect from June, the Trade Union Congress has directed its state councils and affiliates to comm...

CBN implements e-invoice for importers, exporters Feb 1

The Central Bank of Nigeria has said that all import and export operations will require the submission of an electronic invoice authenticated by the authorised dealer banks on the Nigeria single-wi...

FRSC impounds 11,060 vehicles, crashes claim 327 lives during Yuletide

The Federal Road Safety Corps impounded no fewer than 11,060 vehicles and booked 20,845 motorists for various traffic violations during its 2021 ‘Operation Zero Tolerance Special Patrol’ which comm...

Buhari didn’t direct anyone to remove petrol subsidy – Lawan

The Senate President, Ahmad Lawan, says the President, Major General Muhammadu Buhari (retd.), has not asked any official in his regime to implement the removal of petroleum subsidy.Lawan di...

Labour lists conditions for fuel subsidy removal, says $9.5bn wasted on refineries

Key labour unions in Nigeria met on Tuesday in Abuja where they outlined the conditions the Federal Government must meet before it would be allowed to stop subsidising Premium Motor Spirit, popular...

Illegal refineries: Wike to meet with LG chairmen, CP, NSCDC commandant Wednesday

The Governor of Rivers State, Nyesom Wike, will on Wednesday meet with the chairmen of the 23 local government areas of the state, the Commissioner of Police and the Commandant of the Nigeria Secur...

After eight months of decline, Nigeria’s inflation rate rises to 15.63%

After eight months of decline, Nigeria’s headline inflation rate rose to 15.36 per cent in December 2021, from 15.50 per cent recorded in November.The Statistician-General of the Federation,...

FG records N307.49bn revenue shortfall in four months

The Federal Government recorded a revenue shortfall of N307.49bn from July to October last year, according to data obtained from the Central Bank of Nigeria’s latest economic reports.The rep...

FG agencies fail to remit N2.8tn independent revenue in six years

The Federal Government recorded a shortfall of N2.8tn in independent revenue from revenue generating agencies between 2015 and 2020, an analysis of data from the Budget Office has shown.Acco...

FG should pay youth entrepreneurs every kobo lost to Twitter ban –Lawyer

An Abuja-based human rights lawyer, Pelumi Olajengbesi, says there is nothing to rejoice over on the lifting on suspension placed on micro-blogging site Twitter by the Federal Government.Acc...

Buhari okays establishment of Nigerian Diaspora Investment Trust Fund

The President, Major General Muhammadu Buhari (retd.), on Tuesday, endorsed the establishment of the Nigerian Diaspora Investment Trust Fund, a private sector investment window for Nigerians in the...

Nigerians to pay VAT for digital services – Finance minister

Nigerians may have to pay more for digital services as the Federal Government has introduced a policy requiring foreign companies that provide digital services in the country to collect and remit V...

BREAKING: Fire guts section of Port Harcourt refinery on New Year’s Day

Activities at the Port Harcourt Refinery Company in Eleme Local Government Area of Rivers State was disrupted following a fire incident.Though details of the fire which occured on Saturday m...

I need $36bn to construct railway nationwide —Amaechi

The Minister of Transportation, Rotimi Amaechi, says he needs just $36bn to connect the entire nation by rail.Amaechi said this on NTA’s ‘Good Morning Nigeria’ programme.The minister ...

Nigeria loses $5bn to gold smuggling in six years –FG

The Federal Government says Nigeria has lost $5bn to gold smuggling activities in six years.The Minister of Mines and Steel Development, Dr Uche Ogar, who made the disclosure at the State Ho...

FG borrows N13.6tn via bonds in six months amid rising deficit financing

The Federal Government’s bond offer and allotment rose by N1.99tn in the first six months of this year to N13.66tn, from the N11.67tn recorded in the corresponding period of last year.The Fi...

Buhari vows to ease importation for manufacturers through forex supply

The President, Major General Muhammadu Buhari (retd.), has assured the Manufacturers Association of Nigeria that his regime will do everything in its power to improve access to foreign exchange for...

Nigeria needs N348.1trn investments to achieve 5-year NDP

President Muhammadu Buhari says Nigeria needs an investment size of N348.1 trillion to achieve the targets set out in the National Development Plan (NDP) 2021-2025.Mr Femi Adesina, the Presi...

Customs Apapa Command intercepts drugs, others worth 7.8bn

The Nigeria Customs Service (NCS) Apapa Area Command has recorded a seizure of 97 containers with a Duty Paid Value (DPV) of N7.8 billion between January and November.The Customs Area Contro...

Petrol tanker overturns, explodes in Ogun

A tanker loaded with Premium Motor Spirit, popularly known as petrol, on Sunday, exploded in Abeokuta, the Ogun State capital.Our correspondent learnt that the tanker overturned around 04.45...