World Bank approves $2.25 billion loan to back Tinubu’s reforms Wale Edun, Nigeria’s minister of finance and coordinating minister of the economy announced Thursday night the approval of two major financial support packages by the World Bank. The loans are part of President Tinubu’s ongoing efforts to stabilise the economy,[Read More…]
Dangote says $2.4bn borrowed to fund refinery repaid Aliko Dangote, Africa’s richest person, says he has repaid about $2.4 billion of the $5.5 billion borrowed to build his $19 billion refinery. Speaking at the Afreximbank annual meetings (AAN) and AfriCaribbean Trade and Investment Forum in Nassau, The Bahamas, on[Read More…]
FG declares Monday, Tuesday public holidays to mark muslim Eid-ul-Adha The Federal Government has announced Monday 17th and Tuesday 18th as public holidays to mark this year’s Muslim Eid-ul-Adha celebration. The announcement was made by the Permanent Secretary in the Ministry of Interior, Dr Aishetu Gogo Ndayako. In a statement[Read More…]
No durbar activities in Kano during Eid-el-Kabir, police orders The police command in Kano has banned all durbar activities in the state during the Eid-El-Kabir celebration. The Sallah celebration is expected to take place on June 17. A durbar is a festival held during Eid-el-Kabir and Eid-el-Fitri[Read More…]
Minimum wage: Tinubu says he will pay what Nigeria can afford President Bola Tinubu on Wednesday night said that he will approve a new minimum wage the government can afford, alerting the National Assembly to expect his memorandum on the final settlement. He stated this at a[Read More…]
NNPC asks withdrawal of suit challenging ExxonMobil-Seplat deal The Nigerian National Petroleum Company (NNPC) Limited has filed a motion in a federal capital territory (FCT) high court, seeking to discontinue its ongoing suit against the Nigerian subsidiaries of ExxonMobil and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). On[Read More…]
World Bank to CBN: Interest rate hikes may not effectively combat inflation The World Bank has said that there is a possibility the monetary policy tightening by the Central Bank of Nigeria (CBN) would not rein inflation. In its global economic prospects report released on Wednesday, the Bretton Woods institution[Read More…]
TEXT OF PRESIDENT BOLA TINUBU’S NATIONAL BROADCAST ON THE 25TH ANNIVERSARY OF UNBROKEN DEMOCRACY IN NIGERIA, DEMOCRACY DAY 12TH JUNE 2024. My fellow Nigerians, let me begin by congratulating all of us for witnessing the celebration of another Democracy Day today, the 12th day of June 2024. This year also[Read More…]
Reps Charge CBN On Thorough Probe Of Heritage Bank Management The House of Representatives has urged the Central Bank of Nigeria (CBN) to conduct a thorough investigation of the leadership and management of Heritage Bank to identify any possible issues of mismanagement or wrongdoing that might have contributed to[Read More…]
NBS: FG generated N984bn from company income tax in Q1 2024 — down by 12.87% from Q4 2023 The National Bureau of Statistics (NBS) says the federal government collected a total of N984 billion as company income tax (CIT) in the first quarter (Q1) of 2024. The (NBS) disclosed this[Read More…]
