The Central Bank of Nigeria Governor, Yemi Cardoso, and Finance Minister, Wale Edun, are presently addressing the House of Representatives in the ongoing economic sector debate. Simultaneously, the Federal Inland Revenue Service (FIRS) Executive Chairman, Zacch Adedeji, and Minister of Budget and National Planning, Abubakar Bagudu, are also engaging with lawmakers. This parliamentary session is…
The Naira concluded the week on a positive note, experiencing a marginal appreciation against the US Dollar in the Foreign Market, driven by strategic interventions by the Central Bank of Nigeria. According to data from FMDQ, the Naira strengthened to N1,435.53 per US Dollar on Friday, marking a noteworthy 1.8% or 26.37 gain compared to…
In a significant development, the preeminent accounting institution in Nigeria, the Institute of Chartered Accountants of Nigeria (ICAN), has announced the appointment of Dr. Musibau Olasunkanmi as its new Registrar/Chief Executive. This revelation surfaced through an official statement released by ICAN on Friday. According to the statement, the decision to appoint Olasunkanmi was sanctioned by…
The Acting Executive Vice Chairman/CEO of the Federal Competition and Consumer Protection Commission (FCCPC), Dr. Adamu Abdullahi, firmly asserts the irreversible commitment to regulate digital money lenders in the nation. In an exclusive interview with Channels Television, Abdullahi unveiled the commission’s dedication to formulating new regulations aimed at purging the sector of illegal lenders and…
The Federal Government has intensified discussions with the Kingdom of Morocco to expedite the Final Investment Decision (FID) for the Nigeria-Morocco Gas Pipeline. According to a statement by the Nigerian National Petroleum Company Limited (NNPC). The talks focused on enhancing the partnership between the two nations to accelerate the Nigeria-Morocco Gas Pipeline Project, aligning with…
The Dangote Petroleum Refinery and Petrochemicals has registered three oil marketers’ associations to distribute diesel and aviation fuel. The three groups, who collectively represent 75 percent of the total market in Nigeria, are a big step towards ensuring efficient distribution of these vital resources. This move is part of Dangote’s commitment to providing affordable, high-quality…
Dangote Petroleum Refinery, one of the new starting oil processing facilities, has announced the commencement of refined petroleum products production. The refinery, which has the capacity to process 650,000 barrels of crude oil per day, received its fifth shipment of one million barrels of Bonny Light supplied by the Nigerian National Petroleum Corporation Limited last…
Countries Under OPEC has initiated important steps towards maintaining a stable and balanced oil market took center stage at the 36th OPEC and non-OPEC ministerial meeting held via video conference with participating countries. OPEC Permanent Secretary, Ministry of Petroleum Resources, Amb. Gabriel Aduda disclosed this to newsmen in Abuja at the end of a virtual…
The Federal Government has set up an implementation committee on the African Continental Free Trade Agreement which Nigeria is one of the signatories. The committee has also engaged the National Bureau of Statistics to develop data that can be used to data in the implementation of the agreement The Statistician-General of the Federation and Chief…
The National Executive Council of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have insisted that the nationwide strike begin on Tuesday, November 14, 2023. Following a meeting on Friday in Abuja, the union’s leadership decided to move on with a statewide strike in response to unpaid salaries for members and the…
The National Executive Council of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have declared a total nationwide strike effective next Tuesday, November 14. Also, the two unions said there will be “national action on Imo State” from Tuesday (Today) from Midnight. The leadership of the two unions reached the resolution after…
The Nigeria Labour Congress (NLC) says the Congress will go ahead with the Mass Protest in Imo State to save workers in the state from violation of the their rights and privileges on Wednesday November 1, 2023. President of the Nigeria Labour Congress, Comrade Joe Ajaero made this known at a Press Conference in Abuja….
The Nigeria Labour Congress (NLC) is to address a World Press Conference today following the failure of the Federal Government to fulfill its part of the agreement signed with the organised labour on steps to ameliorate the plights of workers following the subsidy removal. In a media invitation released to newsmen in Abuja, the Congress…
The Chairman of Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Mr. Mohammed Bello, says the agency has recovered unremitted revenue worth over N500 billion belonging to the federation from some Institutions. Mr. Bello disclosed this during an interactive session with House of Representatives’ Committee on Finance at the National Assembly. He stated that the sum…
The National Economic Council, NEC, has beseeched the Nigeria Labour Congress, NLC, and the Trade Union Congress, TUC, not to abandon dialogue in their quest for better welfare for its members. NEC subsequently also appealed to the unions to suspend the planned nationwide indefinite strike scheduled to start on October 3. Governor Caleb Mutfwang of…
The iconic NASDAQ building in the heart of New York City’s financial district played host to a historic event on Wednesday, as President Bola Ahmed Tinubu, rang the closing bell. In a speech delivered to a diverse audience of international investors and financial magnates, Tinubu emphasised Nigeria’s newfound stability and burgeoning economic potential. He stated…
The Federal Government’s meeting with the Nigeria Labour Congress (NLC) on Monday ended in deadlock as the two parties could not reach an agreeable resolution. The meeting followed NLC’s threat to embark on an indefinite strike. Minister of Labour and Employment, Simon Lalong and his colleague in the Ministry, Minister of State for Labour and…
By Damilola Adeleke The Standards Organisation of Nigeria (SON) has emphasized that agro-allied products from the nation enjoy global acceptance. Faruok Salim, the Director-General of SON, stated that the organization would increase efforts to educate agro-allied product producers nationwide about adhering strictly to SON’s standards, in support of the government’s diversification goals. Salim, represented by…
Governor Babagana Zulum of Borno state has presented a cheque of two billion naira to the Nigerian Labour Congress, for disbursement as interest-free loans to workers to cushion the impact of fuel subsidy removal. This was part of the nine-point demands earlier presented by Nigeria Labour Congress and Trade Union Congress to the state Governor….
Aviation unions under the Nigeria Labour Congress, NLC, have opted out of the two day warning strike called by their parent body. The leadership of the unions say, the reason for this is that, they cannot afford to jeopardize the industry’s safety record before the global community as it is currently undergoing the International Civil…
By Damilola Adeleke The Nigeria Labour Congress (NLC) has begun a two-day nationwide warning strike in protest of the removal of subsidy and the associated economic hardships faced by Nigerians. Some NLC affiliates in Abuja, including banks, government ministries, and parastatal agencies, have adhered to the strike directives, with some offices being closed. The NLC…
Recent allegations that Dangote Cement Plc was selling a bag of 50kg cement in Nigeria for N5,200 while selling the same quantity for N1,500 in the Republic of Benin have been debunked. Investigative findings reveal that Dangote Cement is not officially sold in Benin Republic; instead, it is used as a transit route to export…
The taxes imposed on products in Nigeria have increased to N1.36 trillion in the first half of 2023, according to recent data from the National Bureau of Statistics. This figure represents a significant rise of 113.29% from the N636.19 billion recorded in the first half of 2021 and a 25.00% increase from the N1.09 trillion…
The National Union of Road Transport Workers (NURTW) has re-elected Prof. Tajudeen Ibikunle Baruwa as its President for a second four-year term. Baruwa will lead a 17-member National Administrative Council (NAC) responsible for managing the affairs of the union over the next four years. The swearing-in ceremony took place during the 10th Quadrennial National Delegate…
The newly inaugurated Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu, has expressed his commitment to utilizing the Ministry, its parastatals, agencies, and partners to unlock the economic potential of Nigeria. He made this statement during the resumption ceremony organized by the ministry in Abuja. Sen. Bagudu, who is among the newly appointed…
The Federal Mortgage Bank of Nigeria (FMBN) has accused the Integrated Personal Payroll Information System (IPPIS) of not remitting N26.6 billion of workers contributory funds in 2 years. The Managing Director, Mr Madu Hamman, stated this when he appeared before the House of Representatives ad hoc Committee probing the non-remittance of the National Housing Fund…
The National Bureau of Statistics (NBS) says unemployment rate is 4.1% in first quarter (Q1) of 2023. This is lower compared to the 5.3% in fourth quarter (Q4) of 2022. The Nigeria Labour Force Survey are a set of indicators designed to provide insights into the dynamics of the workforce in Nigeria. The Statistician General…
Lafarge Africa Plc has reaffirmed its commitment to gender equality and job creation through its Graduate Trainee Programme. The company recently celebrated the graduation of its 2022/23 set of Graduate Trainees, who successfully completed an 18-month intensive training program. The Lafarge Africa Graduate Trainee Programme is designed to attract and nurture young, talented individuals with…
Mr Bigg’s, a pioneer in Nigeria’s quick-service restaurant industry, has introduced five new offerings to its menu to cater to a wider range of tastes and preferences. The new menu additions include Asun Rice, Asun Spaghetti, Rice & Beans, Sandwich, and Egg Roll, reflecting Mr Bigg’s commitment to innovation and customer satisfaction. By expanding its…
Vice President Kashim Shettima has highlighted President Bola Tinubu’s commitment to empowering Micro, Small, and Medium Enterprises (MSMEs) as a crucial driver of the nation’s economic development. Speaking during his visit to exhibition stands at the BRICS Trade Fair, in South Africa on Wednesday, Shettima emphasised the significance of empowering MSMEs, especially youth and women,…
Abdullahi Dantasidi, the National President of the National Artisanal and Small Scale Mining Cooperative Society, has appealed for the support of President Bola Tinubu to alleviate the challenges faced by artisanal miners across Nigeria. In a statement, Dantasidi highlighted the hazards that artisanal miners encounter, including health, security, and environmental risks, despite being the first…
