Category: Business
The Nigeria Senate has passed the bill seeking to establish a National Youth Service Corps Trust Fund. The NYSC Trust Fund (Establishment) Bill was passed on Tuesday after its third reading during plenary. The Bill titled: National Youth Service Corps Trust Fund (Establishment) Bill, 2022 was equally passed by the House of Representatives in April 2022. What […]
The Debt Management Office (DMO) says it is more profitable for Nigerians to invest their funds in the Federal Government of Nigeria (FGN) savings bonds than to save in banks. This was made known by the Director-General of DMO, Patience Oniha, at the FGN Security Issuance awareness programme jointly organized by DMO and the stockbroking […]
Fuel scarcity has worsened across Lagos, Ogun States, as filling stations now sell Premium Motor Spirit (PMS), popularly known as petrol, at N185 per litre or more. This was confirmed by Nairametrics from several motorists that spoke with our analysts. According to them, aside from the new illegal pump price, they had to tip the […]
The World Bank has declared that the Central Bank of Nigeria (CBN) policies are undermining the business environment within the country, placing Nigeria on a fiscal time bomb. The global financial institution listed multiple exchange rates, trade restrictions, and the financing of the public deficit as some of the policies that needs to be reviewed, […]
Timipre Sylva, Minister of State Petroleum Resources, has stated that the Federal Government could not intervene in the increasing price of diesel and aviation fuel because the prices for both goods are deregulated. This was made known by Sylva at a media briefing in Abuja, on Monday. He added that the foreign exchange rate had […]
Paxful, a cryptocurrency trading platform has reported that Nigerians were among the highest bitcoin traders in the last seven months. This is despite the Central Bank of Nigeria’s restrictions on cryptocurrency transactions in the country and the crashing prices of cryptocurrencies globally. Paxful in a statement on Monday seen by Ripples Nigeria said the volume of money […]
The Economic and Financial Crimes Commission (EFCC) has charged Prof. Adesanya Adelekan, Macmillan Nigeria Publisher over alleged $156, 700 book fraud. Mr Adelekan was charged to court alongside one Bola Fasasi. However, only Fasasi was present for arraignment on Monday before an Ikeja Special Offences Court. Though Fasasi pleaded not guilty to the charges, Professor […]
The Academic Staff Union of Universities (ASUU) has revealed that it is yet to get any feedback after its discussion with the Professor Nimi Briggs-led Federal Government renegotiation committee on the 2009 agreements. The Federal Government renegotiation committee was set up to review the draft proposed 2009 FGN/ASUU Agreement and renegotiate with all the striking […]
President Muhammadu Buhari stated that Nigeria’s organized private sector must partake in its duties by driving growth through investing in job creation and paying the requisite taxes as the FG works to ensure the sustainability of the enterprise by building and protecting a sound national industrial relations system. The President stated this at the Nigeria […]
Lagos State Governor Governor, Mr Babajide Sanwo-Olu, Nigerian Communication Commission (NCC), the Standards Organisation of Nigeria (SON), National Agency for Food and Drug Administration and Control (NAFDAF), Advertising Council of Nigeria (APCON) and Heads of Sectoral Groups (HASGs)are expected to review the progress made in the ease of doing business in the country. Others expected […]
The rise in foreign exchange is threatening the continuity of aviation operation in Nigeria, according to the Airline Operators of Nigeria (AON), Vice Chairman, and Air Peace founder, Allen Onyema. The businessman explained that the appreciation of the dollar against naira had made the purchase of aviation fuel too expensive for airline operators to afford, […]
The federal government announced Thursday it has approved the upward review in freight rate for transporters to help alleviate the challenges associated with distribution of petroleum products nationwide. The revised freight rate takes effect from June 1 while the pump price of petrol remains at N165 per litre, a statement by the Nigerian Midstream and Downstream […]
The World Trade Organization has reached an agreement that includes commitments on fishing and pledges on health as well as food security after days of negotiation. The 164 member countries struck the deal – regarded as the first major agreement in almost a decade – at the 12th ministerial conference of the WTO after more than […]
The Parliamentary Staff Association of Nigeria has announced the suspension of the strike action embarked upon last week. This was announced by Sunday Sabiyi, the chairman of the association at the National Assembly premises in Abuja on Tuesday. PASAN had announced the strike action in a circular to its members which stated that the strike […]
The Central Bank of Nigeria has announced that it has established a comprehensive Non-Oil Export Optimisation framework, which would be unveiled on June 16 at its first non-oil export summit. Mr Osita Nwanisobi, Director, CBN Corporate Communications Department, disclosed this in a statement seen by the News Agency of Nigeria. The seminar, which is organized […]
