Economy
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BREAKING: Acting CG of Immigration’s service year may be extended
President Bola Tinubu may extend the service year of the Acting Comptroller-General of Immigration, Mrs. Adepoju Carol Wuraola, in order to give her the opportunity of spending beyond a day in office. Wuraola was promoted as Acting CG by the Board of Civil Defence, Correctional, Fire and Immigration Services in a letter dated May 26, 2023 after the retirement of…
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NNPC releases new price template for fuel across Nigeria
The Nigeria National Petroleum Corporation Limited (NNPC Ltd) has released the new price template for petrol across the country. The new template was as a result of the suspension of subsidy on petrol by the Federal Government. According to the new price template which takes effect with immediate effect, the pump price for petrol will now range from N488 to…
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BREAKING: Tinubu set to meet labour leaders over fuel subsidy
President Bola Ahmed Tinubu is set to meet with labour leaders over the recent end to the fuel subsidy regime in the country. The president in his inaugural speech on Monday, appreciated former President Muhammadu Buhari for ending the subsidy regime, declaring that money previously used to pay for fuel subsidy would now be used to develop the country’s infrastructure…
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BREAKING: Stock market rally, gains N1.5trn on Tinubu’s optimistic policy pronouncement
The stock market of the Nigerian Exchange Limited (NGX) appreciated by N1.5trillion amid President Bola Tinubu’s plans to remove subsidies on fuel and the Central Bank of Nigeria (CBN) unification of exchange rates. The market capitalisation opened for trading at N28.845trillion on Tuesday, gaining N1.5trillion when it closed at N30.350trillion, while the NGX All-Share Index gained 5.22 per cent or…
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Eurobonds rise after Tinubu declares fuel subsidy removal
Nigeria’s sovereign dollar-denominated bonds rose on Tuesday after President Bola Tinubu said at his swearing in on Monday that a costly fuel subsidy would be removed and the Central Bank of Nigeria (CBN) should work towards a unified exchange rate. Eurobonds rose as much as 3 cents in the dollar, with the 2029 maturity at 87.25 cents by 1251 GMT.…
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Dialogue with us before removing fuel subsidy, IPMAN tells FG
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has opposed the move by the Federal Government to remove fuel subsidy. Speaking during his inaugural speech on Monday, President Bola Ahmed Tinubu said the subsidy regime was over. According to him, the government would use the money allocated for subsidy to take care of infrastructure deficits and handle other developmental issues…
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NNPC speaks on subsidy removal, cautions against panic buying
The Nigerian National Petroleum Company Limited (NNPCL) says the decision to remove subsidy on petrol, popularly called fuel, by President Bola Tinubu is a welcome development. The Group Chief Executive Officer (GCEO), NNPCL, Mele Kyari, made this known at the NNPCL. Towers in Abuja while briefing journalists late Monday night after the pronouncement by the president. The News Agency of…
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Aviation minister confirms arrival of Nigeria Air plane Friday
The Minister of Aviation, Hadi Sirika, has officially confirmed that a plane for Nigeria Air is set to arrive in the country on Friday, signaling the imminent commencement of operations for the long-awaited national carrier. In an interview with Channels Television, the minister revealed that the aircraft will land within two days, marking a significant milestone in the process of…
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Nigeria’s GDP dropped to 2.31% in Q1 2023, says NBS
The National Bureau of Statistics (NBS) on Wednesday disclosed that Nigeria’s Gross Domestic Product (GDP) dropped to 2.31per cent (year-on-year) in real terms in the first quarter (Q1) of 2023 as against 3.11 per cent reported in first quarter (Q1) of 2022. The bureau attributed the decline to the adverse effects of the cash crunch experienced during the quarter. NBS…
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PHOTO NEWS: Buhari commissions new Customs headquarters in Abuja
President Muhammadu Buhari on Tuesday commissioned the newly built corperate headquarters of the Nigeria Customs Service in Abuja. The newly built headquarters of the Customs was initiated in 2002.
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