Abuja, Nigeria — Nigeria is losing an estimated $10 billion annually due to its inability to tap into the lucrative global honey market, a challenge largely attributed to an underdeveloped beekeeping industry. This concern was raised by Gideon Dagundoro, President of the Grassroots Beekeepers Association of Nigeria, in an interview where he urged the federal…
Abuja, Nigeria — The Federal Government has intensified efforts to rejuvenate Nigeria’s steel sector through the Nigerian Metallurgical Industry Bill 2023, aimed at strengthening regulatory oversight and fostering sustainable growth. The Ministry of Steel Development convened a stakeholder meeting to deliberate on the Bill, which is expected to provide a structured legal and regulatory framework…
Rabat, Morocco — The Yobe State Government has entered into a strategic collaboration with the Moroccan government to advance agricultural development and enhance local governance. The initiative was formalized during a visit by a Yobe State delegation to Rabat, Morocco, led by the Secretary to the State Government, Baba Malam Wali. Facilitated through the United…
Cape Town, South Africa — Nigeria is set to launch a strategic roadmap aimed at developing a critical minerals value chain, paving the way for local solar power production and reducing reliance on imports. The initiative, funded by the Global Council for Critical Minerals under the Solid Minerals Development Ministry, seeks to optimize the extraction…
Abuja, Nigeria — The Nigeria Labour Congress (NLC) has suspended its planned nationwide protest against the recent 50% increase in telecommunications tariffs. The decision followed a meeting with government officials at the Office of the Secretary to the Government of the Federation on Monday night. A statement issued by the office’s Director of Information and…
Lagos, Nigeria — Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890 per litre, effective February 1, 2025. In a statement released by Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Industries Limited (DIL), the price adjustment was described…
Abuja, Nigeria — The Central Bank of Nigeria (CBN) has reaffirmed its commitment to empowering young Nigerians by closing financial access gaps, fostering innovation, and promoting their active involvement in economic policy development. CBN Governor, Olayemi Cardoso, made this pledge during a youth engagement workshop themed “The Youths are Here”, held in Abuja on Friday….
Abuja, Nigeria— President Bola Ahmed Tinubu has confirmed the appointment of Abba Abubakar Aliyu as the substantive Managing Director of the Rural Electrification Agency (REA). The appointment, announced by Presidential Spokesman Bayo Onanuga, took effect on January 23, 2025, for an initial tenure of four years. Aliyu, who has been serving as Acting Managing Director…
Abuja, Nigeria — The Police Service Commission (PSC) has directed the immediate retirement of senior police officers who have served for more than 35 years or have exceeded 60 years of age. This directive was made during the Commission’s first extraordinary meeting of 2025, chaired by DIG Hashimu Argungu (retd). The meeting had notable attendees,…
Kogi State, Nigeria — The Nigerian National Petroleum Company Limited (NNPCL) and its partners have officially launched the construction of five mini-Liquefied Natural Gas (LNG) plants in Ajaokuta, Kogi State. The groundbreaking ceremony marked the commencement of work on NNPC Prime LNG, NGML/Gasnexus LNG, BUA LNG, Highland LNG, and LNG Arete. These projects are part…
Abuja, Nigeria — The Nigerian Communications Commission (NCC) has linked the decline in telecom revenue for 2024 to the inability to auction 5G spectrum licenses. This disclosure was made by Yakubu Gontor, NCC’s Director of Financial Services, and Aminu Maida, the Commission’s Chief Executive Officer and Executive Vice Chairman, during the 2025 budget defence session…
Abuja, Nigeria — The naira maintained its upward momentum on the parallel market while depreciating on the official exchange platform amid ongoing forex reforms by the Central Bank of Nigeria (CBN). By the close of trading on Tuesday, the naira appreciated by N10, closing at N1,640 per dollar on the parallel market, compared to N1,650…
Solid Minerals to Transform Nigeria’s Mining Industry —Minister Abuja, Nigeria— The Minister of Solid Minerals Development, Dr. Dele Alake, has assured Nigerians that the newly established Nigeria Solid Minerals Corporation will serve as a catalyst for sustainable growth and revolutionize the nation’s mining sector. During a meeting with British Deputy High Commissioner Jonny Baxter,…
Sokoto, Nigeria — The Sokoto State Government has commenced the payment of the new national minimum wage of N70,000 to workers across the state, fulfilling a key campaign promise by Governor Ahmed Aliyu. The implementation, which begins today, Monday, January 27, extends to state civil servants, local government employees, and Local Government Education Authority (LGEA)…
Lagos, Nigeria — The Central Bank of Nigeria (CBN) Governor, Dr. Olayemi Cardoso, has committed to addressing the widespread buying and selling of Naira notes, a practice he describes as a significant threat to Nigeria’s financial ecosystem. Speaking at the inaugural Stakeholders’ Conference of the Committee of Heads of Banks Operations (CHBO) in Lagos, themed…
Abuja, Nigeria — The Trade Union Congress of Nigeria (TUC) has called on the federal government to increase the tax exemption threshold from the current ₦800,000 per annum, as proposed in the Tax Reforms bill, to ₦2,500,000 per annum. In a statement released by the President of TUC, Comrade Festus Osifo, the Union emphasized that…
Abuja, Nigeria — The National Association of Telecoms Subscribers (NATCOMS) has firmly opposed the Nigerian Communications Commission’s (NCC) decision to approve a 50% tariff hike for telecom operators. The approval was announced on Monday following requests by the Association of Licensed Telecommunications Operators of Nigeria (ALTON) and the Association of Telecommunications Companies of Nigeria (ATCON)…
Abuja, Nigeria — The National Bureau of Statistics (NBS) reports that Nigeria’s headline inflation rate climbed to 34.80% in December 2024, up from 34.60% in November. According to a report released by the NBS on Wednesday, the 0.20% rise was largely driven by increased demand for goods and services during the festive season. On a…
Abuja, Nigeria — The Nigerian Communications Commission (NCC) has issued a directive to telecommunications operators to deactivate the USSD codes of nine financial institutions over unpaid debts. The commission, in a statement released Tuesday by its Director of Public Affairs, Reuben Muoka, instructed that the disconnection must take effect by January 27, 2025, if the…
Abuja, Nigeria — Former presidential aide, Dr. Doyin Okupe, has tendered a public apology to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, over previous criticisms of his leadership in the oil and gas sector. The apology coincides with recent developments in the petroleum industry, including the resumption…
Lagos, Nigeria — The Nigerian Exchange (NGX) has officially delisted the entire issued share capital of Flour Mills of Nigeria Plc from its Daily Official List, effective December 30, 2024. This was confirmed in the NGX weekly market report, which explained that the delisting followed the approval of an application by Flour Mills for the…
Lagos, Nigeria — The number of Point of Sale (PoS) terminals deployed across Nigeria has surged to 3.04 million, marking significant growth in the country’s electronic payment system. This data was disclosed by the Nigeria Inter-Bank Settlement System (NIBSS) in its latest report on electronic payment trends. According to the report, the deployment of PoS…
President of Dangote Industries Limited, Aliko Dangote, has praised President Bola Ahmed Tinubu for implementing the crude-for-naira swap deal, a policy that has positively impacted Nigeria’s economy by stabilizing the naira and reducing petroleum product prices. In line with this development, Dangote announced a price reduction for Premium Motor Spirit (PMS) from N970 to N899.50…
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), in collaboration with its partners, plans to establish a refinery with an initial capacity of 50,000 barrels per day (bpd). According to PETROAN President Billy Gillis-Harry, the agreement and Memorandum of Understanding (MoU) to commence the refinery’s construction will be signed in the coming weeks….
The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have directed banks to clear an outstanding debt of N250 billion owed to telecom operators for Unstructured Supplementary Service Data (USSD) services. The regulators have set stringent deadlines for compliance, amid a notable decline in the usage of USSD for financial transactions. USSD…
Medical services in the Federal Capital Territory (FCT) may come to a halt as the Association of Resident Doctors (ARD) threatens a strike over unpaid six-month salary arrears. Speaking at a press briefing held at Wuse District Hospital, Abuja, on Monday, ARD President, Dr. George Ebong, issued a 14-day ultimatum to the FCT Minister, Nyesom…
A joint security task force has arrested a private miner and sealed off two mining sites in Kure, Amba community, Kokona Local Government Area of Nasarawa State. The State Commissioner for Environment and Natural Resources, Mr. Yakubu Kwanta, disclosed this during a raid on the illegal mining site in the area. According to Mr. Kwanta,…
The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to N899 per litre, down from N1,020. This adjustment, according to Dr. Joseph Obele, National Public Relations Officer of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), reflects the…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to launch another oil licensing round in 2025, leveraging the “Drill or Drop” clause from the Petroleum Industry Act (PIA) 2021, which mandates oil operators to commence production within three years or relinquish their licenses. This initiative aims to boost oil production, enhance resource management,…
The Presidential Livestock Reform Implementation Committee has convened discussions with stakeholders in Bauchi State to address longstanding challenges in the country’s livestock sector. The 25-member committee, co-chaired by Professor Attahiru Jega, aims to find sustainable solutions to farmer-herder conflicts, seasonal migrations, and inefficiencies in livestock production and processing. Speaking at the session held at the…
Kogi State Governor Ahmed Usman Ododo has engaged in discussions with China’s Consular General in Lagos, Yan Yuqing, to attract Chinese investment aimed at driving the state’s economic growth and industrialization. The meeting, held as part of the governor’s efforts to position Kogi as an industrial hub, focused on fostering partnerships in agriculture, manufacturing, infrastructure,…
