The Minister of Transportation, Mr. Sai’du Alkali, has officially launched the e-ticketing services for the Lagos-Ibadan and Itakpe-Warri train services in Nigeria. The e-ticketing system is designed to improve efficiency and convenience in booking and paying for train tickets, eliminating the need for physical tickets and cash transactions. The contract for the e-ticketing of these…
The Federal Executive Council (FEC) has given its approval to a supplementary budget of over N2 trillion for the year 2023, marking the second supplementary budget for the year. The decision was made during the council’s weekly meeting, presided over by President Bola Tinubu. Senator Abubakar Bagudu, the Minister of Budget and Economic Planning, announced…
John Deere, a United States-based company, has announced its commitment to establishing a tractor assembly plant in Nigeria. This significant development in foreign investment was revealed during a meeting between Vice President Kashim Shettima and top officials from John Deere, led by its Vice President on Production Systems, Mr. Jason Brantley. The company’s interest in…
German Chancellor Olaf Scholz said on Sunday that his country was willing to invest in gas and critical minerals in Nigeria, Africa’s largest oil producer, as he started a two-nation visit to sub-Saharan Africa. This is the third visit to the region by Scholz in two years and comes as conflicts elsewhere highlight the growing…
The proposed N2.7 trillion supplementary budget approved by the Federal Executive Council (FEC) has raised concerns from Mr. Auwal Ibrahim Musa (Rafsanjani), the Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC). In response to inquiries from the Nigerian Tribune, Rafsanjani expressed dissatisfaction with the significant sum allocated for bridge maintenance, the establishment of…
The November oil-loading schedule for Nigeria faces uncertainty as approximately 30 cargoes await buyers. This situation has coincided with a decline in crude premiums compared to benchmark prices, a drop of $1 to $2 per barrel depending on the grade. This challenge is not unique to Nigeria, as Angola’s November schedule also reports a similar…
The Head of Partnership at Moniepoint Inc., Efemena Ogie, has suggested that Nigeria’s National Identification Number (NIN) database, which currently has 102.39 million records, could be used to create more Bank Verification Numbers (BVN) to increase financial inclusion in the country. Speaking at a Fintech Forum organized by the Nigeria Information Technology Reporters Association (NITRA)…
The Nigerian naira saw an appreciation against the dollar on Friday, October 27, 2023, closing at N789.94/$1. This marked a 6.26% increase from the previous day’s rate of N837.49/$1. Throughout the day, the naira reached a high of N900/$1 and a low of N696.06/$1, indicating a substantial spread of N203.94/$1. Data from the official NAFEM…
A roundtable discussion on the recently enacted Electricity Act 2023 highlighted the need for states to receive support in order to leverage the opportunities the new legislation presents. The roundtable, jointly convened by the Nigeria Governors’ Forum (NGF) and the British High Commission through the United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF), focused on the…
The proliferation of substandard and falsified medicines poses a grave risk to public health and economic growth, warns Prof. Moji Adeyeye, the Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC). Speaking at the 23rd NECCI PR Roundtable in Lagos, Adeyeye emphasised the serious consequences of illicit sales and distribution of…