The Federal Government has announced that indigenous refineries in Nigeria can now purchase crude oil in either naira or dollars, complying with demands from domestic […]
Category: Economy
Economy
Peter Obi Vows to Advocate for Budget Reform Amid Concerns Over 2024 Budget
Peter Obi, the 2023 Labour Party presidential candidate, has reiterated his commitment to raising concerns about the 2024 budget, emphasizing its crucial impact on citizens, […]
Nigeria Suffers Sixth Power Grid Collapse of 2024, Plunging Millions into Darkness
Nigeria experienced its sixth power grid collapse of 2024, with electricity generation plummeting from 2,583.77MW at 2 am on Monday to 64.7MW around 3 am. […]
NIPCO Gas Limited Completes Four CNG Stations in Lagos, Set for Inauguration
The Managing Director of NIPCO Gas Limited, Mr. Nagendra Verma, announced the completion of four Compressed Natural Gas (CNG) stations in Lagos, scheduled for inauguration […]
Former Accountant General of the Federation Thought He’d Escape Prosecution for Alleged N109 Billion Fraud
The former Accountant General of the Federation (AG-F), Ahmed Idris, has expressed surprise at facing trial for an alleged N109 billion fraud, stating that he […]
EFCC Intensifies Probe into Bank CEOs over COVID-19 Fund Mismanagement
The Economic and Financial Crimes Commission (EFCC) has stepped up its investigation into the involvement of bank chief executive officers (CEOs) in the mismanagement of […]
MSMEs Struggle: Over 44 Million Businesses Close Amid Tough Operating Environment
A considerable number of the over 44 million micro and small medium enterprises (MSMEs) in Nigeria have shut down due to the challenging operating environment, […]
Nigeria’s Crude Oil Production Declines for Third Consecutive Month
Nigeria’s crude oil and condensate production experienced a downward trend for three consecutive months, falling to 1,438,129 barrels per day (b/d) in March 2024, as […]
Federal Government Plans Tolling for Lagos-Calabar Coastal Highway Project to Recoup Investment
The Federal Government plans to recover its investment in the Lagos-Calabar Coastal Highway project through tolling over 15 years, according to Works Minister Dave Umahi. […]
Electricity Supply Struggles to Meet New Tariff’s 20-Hour Benchmark, Raises Concerns
Shortly after the implementation of a new tariff regime that increased electricity prices by 231 percent for category A consumers, concerns have arisen regarding the […]