Business

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The Federal Government has stated that it is focused on ensuring the completion of the Kano-Kaduna standard gauge rail project. This was disclosed by the Minister of Transportation, Mr Mu’azu Sambo, during an inspection of the rail project in Yako, Madobi Local Government Area in Kano. Sambo said the project was a priority that would […]

The World Bank has committed $8.5 billion to Nigeria to fund critical issues ranging from agriculture to education. Disclosing this on Thursday in Abuja during a summit organised by the Emergency Coordination Center, the World Bank Country Director to Nigeria, Shubham Chaudhuri, noted that the amount was the largest of any country. He noted that […]

Nigerian National Petroleum Company (NNPCLimited) announced Tuesday that it has no plan to lay off workers as a result of its recent transition. The NNPC Limited said this in a statement by GarbaDeen Muhammad, the group general manager, group public affairs division of the company. The development came amid reports that the company had offered […]

The International Monetary Fund (IMF) has held its projection about Nigeria’s economic growth prospect at 3.4 per cent amid growing concern about elevated inflation and the possibility of a technical recession in the year. The position is contained in the July World Economic Outlook (WEO) update released, yesterday. The Fund expects the country’s growth to […]

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 […]

The Economic and Financial Crimes Commission has announced the extradition of one Fatade Idowu Olamilekan to the United States over alleged $3.5 million fraud. This was made known by the EFCC in a statement on their official Facebook page on Tuesday. The statement noted that Mr Olamilekan is a wire fraud suspect who has been […]

The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate (monetary policy rate) to 14% from 13%, being the second hawkish move by the apex bank in 2022 following the rising rate of inflation. This was disclosed by the Governor of the CBN, Godwin Emefiele, while reading […]

President Muhammadu Buhari on Tuesday in Abuja unveiled the new Nigerian National Petroleum Company Limited (NNPC Limited), affirming that the company is mandated by law to ensure that Nigeria’s National Energy Security is guaranteed. Speaking at the historic occasion at State House Conference Centre, the President said Africa’s largest National Oil Company (NOC) would also […]

The Nigerian National Petroleum Company (NNPC) Limited has approved a new pump price after weeks of promises that it will retain N165. NNPC, in a notice to fuel marketers, directed them to change the petrol price on pumps to N179 per litre from N165 per litre effective today (Tuesday). This was even as the company […]

THE Senate through its Panel on Public Accounts has ordered the arrest of the Director-General of the Nigerian Maritime and Safety Agency, Dr Bashir Jamoh, for allegedly paying $5mn to a legal firm as a professional fee for the recovery of a $9.3bn loss. The $5m was paid for the intelligence-based tracking of a global […]


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