In a move aimed at curbing revenue losses and boosting foreign exchange inflow, the Nigerian government has granted an extension to its boat service contract with Intels Nigeria Limited. The extension follows presidential directives and a court consent judgment obtained by the Nigerian Ports Authority (NPA). The decision comes after the NPA had initially terminated…
President Bola Tinubu has unveiled a groundbreaking initiative for a sustainable and eco-friendly future in Nigeria. During a meeting with stakeholders and investors in Dubai on the sidelines of the COP28 climate summit, the President shared plans for the deployment of a fleet of 100 electric buses, marking a significant stride towards reducing the country’s…
As the Nigerian Judiciary grapples with a tarnished image due to perceived conflicting and controversial judgments, the 10th National Assembly is not spared from criticism, being dubbed the “rubber stamp Assembly.” Daniel Bwala, former spokesperson for the dissolved Atiku Abubakar presidential campaign, expressed on an Arise TV programme the belief that this assembly is worse…
The Bauchi State government has outlined a budget of N93 billion for education and healthcare services in the fiscal year 2024. The disclosure came during the breakdown of the 2024 budget by Aminu Hammayo, the Commissioner for Budget and Economic Planning, on Friday in Bauchi. Governor Bala Mohammed presented the ‘Budget of Consolidation and Renewed…
The Nigerian naira experienced a historic low on Friday, closing at N927.19 per dollar in the official market and N1165 per dollar in the parallel market. The official market witnessed an 11.39% depreciation, closing at N927.19 compared to the previous day’s N832.32. In the parallel market, the exchange rate depreciated by 0.43%, quoted at N1165/$1….
In a significant move aimed at facilitating small businesses across the nation, the UK government inaugurated the National Council on Micro, Small, and Medium Enterprises (MSMEs) on Friday. \ The announcement was made by Charles Odii, the Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), during a press briefing at the…
In a landmark development, Nigeria and Germany solidified their commitment to enhancing the nation’s power infrastructure by signing the Presidential Power Initiative (PPI) agreement. This monumental accord, designed to augment the national grid with an additional 12,000 megawatts of electricity, was formally sealed in the vibrant city of Dubai, at the sidelines of the United…
A seasoned Finance and Investment Analyst, Adejumo Isaac, has presented a groundbreaking solution for enhancing the short-term stability of the Naira exchange rate. Isaac urges the Nigerian government, through the Central Bank of Nigeria (CBN), to implement a cashless policy on forex transactions, a move he believes could significantly impact the nation’s economic landscape. In…
The Nigerian House of Representatives initiated discussions on Thursday regarding the bill seeking approval for the release of N27.5 billion from the consolidated revenue fund of the federation. The budget, presented by President Bola Tinubu at a joint sitting of the National Assembly, has been named the ‘Budget of Renewed Hope.’ Leading the debate for…
Crude oil prices experienced an uptick on Thursday as the Organization of Petroleum Exporting Countries (OPEC) commenced its meeting. Brent crude futures rose by 0.2 per cent to $83.23 a barrel, while U.S. West Texas Intermediate crude futures increased by 0.2 per cent to $78.03 a barrel. The previous day witnessed a nearly 2 per…