Category: Business
The National Agriculture Growth Scheme – Agro Pocket program would help build the resilience of farming livelihoods The Board of Directors of the African Development Bank Group on Friday approved a $134 million loan for the National Agriculture Growth Scheme – Agro Pocket program in Nigeria to scale up food production and boost livelihood resilience. […]
The NNPC has approved an upward review in the pump price of petrol from N165 per litre to N179 per litre. The official price of petroleum in Nigeria is N165 per litre, but the commodity has been selling above the official price due to the recent fuel crisis in the country. During the crisis, petrol […]
Africa’s richest man, Aliko Dangote has raised N187.6 billion through bonds to finance operation of subsidiary companies under Dangote Industries Limited (DIL). The capital was raised in the Nigerian bond market through its Series 1 Bond Issuance. The bond comprises seven-year Tranche-A bond issued at 12.75 percent and a 10-year Tranche-B bond issued at 13.50 […]
The Senate has passed the Nigerian Start-up Bill, 2022. The passage of the bill followed the adoption of a report of the Senare Committee on ICT and Cyber Security at Wednesday’s plenary. Presenting the report, the Chairman of the Committee, Oseni Yakubu, said the bill sought to provide for the establishment of the National Council […]
Naira gained against the U.S. dollar at the official market on Tuesday, extending the currency’s appreciation to two consecutive days after it fell to a record low last Friday. According to data published by FMDQ, where forex is officially traded, naira which opened trading at N426.20 closed at N424.17 to a dollar on Tuesday. This represents […]
CBN Governor Godwin Emefiele has warned politicians looking to withdraw their naira in exchange for dollar speculations for election purposes insisting that it was illegal to do so. Mr. Emefiele was responding to questions from journalists who pressed him on the likely impact of election spending on the value of the naira when compared to […]
The Federal Ministry of Water Resources has stated that it will not be deterred by backlash on the proposed Water Resources Bill, adding that the reforms in the water resources sector are to reposition it to where it is supposed to be. This was disclosed by the Minister, Mr. Suleiman Adamu at a news conference […]
The Economic and Financial Crimes Commission Operatives has said that its operatives have arrested 24 persons in connection with suspicious illegal oil bunkering in Rivers State. This was revealed by the Commission in a statement on its official Facebook page on Tuesday. The statement noted that the suspects were arrested on July 18, at Abonima […]
Investors have stressed the need for the entire market value chain to articulate ways to conform to the right standards and global principles in assessing protections available for Nigerian investors. Besides, the investors also urged the regulators to beef up their regulatory oversight to stem unethical conduct in the market. The investors who spoke on […]
The Central Bank of Nigeria (CBN) through its Standing Lending Facility in two months, lent to commercial banks a total of N595.34 billion. The figure is captured in its recently published monthly economic report on its website. The report showed that while N333.59bn was borrowed in January, banks collected N255.75bn in February. CBN in the […]
The ECOWAS Court of Justice in Abuja, on Thursday, declared as unlawful last year’s suspension of Twitter by the Muhammadu Buhari government, ordering the government to desist from such an illegal act in the future. The court ruled that suspending the operations of Twitter is unlawful and inconsistent with the provisions of Article 9 of the African […]
Twitter announced Tuesday it has sued Tesla CEO Elon Musk in the Delaware Court of Chancery for terminating his $44 billion takeover bid. This development came days after Mr Musk terminated his Twitter takeover deal. Last Friday, Mr Musk announced he is terminating his $44 billion Twitter takeover bid. According to a letter by Skadden Arps attorney Mike Ringler […]
The Federal Government has approved the sum of N400 billion under the National Poverty Reduction and Growth Strategy (NPRGS), which covers certain welfare schemes including the Government Enterprise and Empowerment Programme (GEEP), Conditional Cash Transfer, Farmer Money, and Market Money. The approval for 2022 was disclosed by Governor Abdullahi Sule of Nasarawa State who spoke […]
The proscribed Indigenous People of Biafra (IPOB) has raised alarm over an alleged plot to assassinate the British High Commissioner to Nigeria, Catriona Laing, during her planned visit to the South East and warned her to cancel the trip. IPOB who claimed that it got the information through its intelligence arm, the M-Branch, said that […]
President Muhammadu Buhari has stated that the Federal Government would continue to provide the needed support required to wipe out terrorists and insurgents ‘off the face of the earth.’ This was disclosed in a statement by the President’s aide, Garba Shehu after the President attended the graduation ceremony of 247 students of the Senior Course […]