The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on Governor Chukwuma Soludo of Anambra State to settle a debt of N900,664,805.00 owed to its members for the supply of Automotive Gas Oil (diesel) used to power streetlights in the state. The call was made in a reminder letter addressed to Governor Soludo by…
Paul Alaje, a seasoned economist at SPM Professionals, has outlined several measures that could potentially stabilize the Nigerian naira against foreign currencies. Alaje stressed the urgency of addressing the issue, stating that Nigeria’s future hinges on its ability to tackle the problem effectively. In recent months, the naira has experienced a significant decline in value…
The Bureau De Change (BDC) operators in Abuja have suspended their operations in response to the significant depreciation of the Nigerian naira against the United States dollar. This decision was made due to the rising exchange rates, which have led to concerns about the stability of the currency. On Thursday, several BDC shops in the…
Festus Keyamo, the Minister of Aviation, has disclosed that the Federal Airport Authority of Nigeria (FAAN) spent approximately N1 billion on travel tickets and Duty Tour Allowance (DTA) for its top officers shuttling between Lagos and Abuja in one year. Keyamo made this revelation on his X platform in response to questions raised during his…
The Dangote Refinery, a monumental $20 billion project, is set to diversify its crude oil sources by importing two million barrels of WTI Midland from the United States, a move that marks the refinery’s first foray into non-Nigerian crude procurement. This significant development is indicative of the evolving dynamics in the global oil market, driven…
The Central Bank of Nigeria (CBN) has taken decisive steps to tackle the backlog of verified foreign exchange (forex) transactions, injecting US$500 million into various sectors. This move follows closely on the heels of the recent disbursement of approximately US$2.0 billion to settle outstanding commitments in the manufacturing, aviation, and petroleum industries. Speaking on Monday…
The upcoming 21st Annual Daily Trust Dialogue, scheduled for Thursday in Abuja, is set to feature a lineup of distinguished speakers and guests. Among them is Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, who will be joining other eminent personalities to analyze the various economic reforms implemented by President Bola…
The National Universities Commission (NUC) has issued a stern warning to universities, cautioning them against taking shortcuts during accreditation visits or face the revocation of programme approvals. Chris Maiyaki, the acting executive secretary of the commission, delivered this warning during a recent interview with journalists in Abuja. Maiyaki emphasized that institutions and programmes failing to…
The Nigerian government has affirmed its commitment to strengthening collaboration with the International Labour Organisation (ILO) to extend social safety nets across the country. Mrs Nkeiruka Onyejeocha, the Minister of State for Labour and Employment, reiterated this commitment during a meeting with an ILO delegation in Abuja. Onyejeocha emphasized the government’s focus on broadening access…
The National Agency for Food and Drug Administration and Control (NAFDAC) has launched an investigation into an allegation that a woman fried plantain chips using oil adulterated with polythene, following a viral social media post. The post claimed that the woman melted approximately five pieces of “olonka rubber” (polythene) into the oil before frying the…