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…
In a recent interview on Channels Television’s Sunrise Daily, Mohammed Idris Malagi, the Minister of Information and National Orientation, expressed support for President Bola Tinubu’s economic reforms. Malagi emphasized the need for time to implement these reforms effectively, stating that they are essential for the nation’s growth and development. Defending Tinubu’s long-term plans for the…
The Senate Committee on Banking, Insurance, and other Financial Institutions has issued a summons to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to appear before the committee next Tuesday. This summons comes as a response to the current state of the economy and the significant decline in the value of the…
The Katsina State Executive Council has authorized the allocation of N74.5 billion for the expansion of township roads in the metropolis. Sani Magaji-Ingawa, the state’s Commissioner for Works, Housing, and Transport, revealed this development during a press briefing in Katsina on Monday. The approved project encompasses various significant road expansions, including the construction of the…
President Bola Tinubu has initiated steps for a comprehensive review of Nigeria’s national minimum wage, aiming to increase it beyond the current N30,000 threshold. The President, represented by Vice President Kashim Shettima, inaugurated a committee comprising representatives from the Federal Government, state governments, labour, and the organised private sector at the Council Chambers of the…
President Bola Tinubu is set to inaugurate a negotiation committee for a new national minimum wage, scheduled for tomorrow. In a letter, the Secretary to the Government of the Federation (SGF), George Akume, conveyed the President’s approval for the commencement of negotiations. The inauguration is scheduled to take place on Tuesday, January 30, 2024, at…
The Nigerian Navy recently transferred custody of 11 individuals suspected of planning to construct an illegal refinery to the Nigeria Security and Civil Defence Corps (NSCDC) in Port Harcourt. Cdr. Sa’id Kabir, the Base Operations Officer of the Nigeria Navy Ship (NNS) Pathfinder Port Harcourt, supervised the handover to Monday Lawal of the NSCDC Command…
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 Minister of Information and National Orientation, Mohammed Idris, has unveiled the Presidential Initiative to deploy Compressed Natural Gas (CNG) mass transit buses, which is expected to significantly reduce transport costs by over 50%. In a statement to the press on Sunday, Idris urged Nigerians to view this initiative as a relief measure introduced by…