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…
Nigeria Extractive Industries Transparency Initiative, (NEITI), says the country lost about 600 million barrels of crude oil valued at $46bn from 2009 to 2020. The disclosure was made by the Executive Secretary of the Agency Dr Orji Ogbonaya Orji while addressing stakeholders’ Roundtable for the review and approval of NEITI 2021 audit reports in Abuja….
The Naira has recorded a second straight day of appreciation against the US dollar. Checks at several Bureau de Change Operators in Abuja indicated that the Naira exchanged for between 750 and 790 to a dollar. This was against the 935 and 920 it exchanged for on Monday and Tuesday. The rise in the value…
The NNPC Ltd has secured an emergency $3bn crude oil repayment loan to stabilise the naira. The loan jointly signed by NNPC and Afrexim bank in Cairo, Egypt is expected to help the Federal Government stabilise the naira. Announcing the signing on its twitter handle, NNPC says the signing will provide immediate disbursement that will…
The Central Bank of Nigeria (CBN) says it has taken appropriate measures to stabilise the unfavourable fluctuations in the foreign exchange market. The Acting Governor of the bank, Folashodun Shunobi, told State House Correspondents in Abuja after his meeting with President Tinubu. He said they discussed the effective measures needed to be taken to stabilise…
The National Pension Commission has made a recovery of over twenty four billion naira since 2012 from employers who failed to remit pension deductions of their employees. The Director General of PENCOM, Hajya Aisha Dahir-Umar made this known in a message to the 2023 Conference for Journalists in Abuja. The Director General who was represented…
The nationwide protest of the Nigerian Association of Resident Doctors (NARD) set to commence on Wednesday has been called off after closed door meeting with the Senate. Addressing the media shortly after the meeting, the National President of the Association, Dr Emeka Innocent Orji said it was concluded that the Association should be at the…
The Federal Government on Monday said it did not proceed with the contempt suit it planned to file against Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) for organizing nationwide protest against fuel subsidy removal on August 2, 2023. The National Industry Court had stopped the organized labour from going on strike, however…
In an effort to boost food production and support communities affected by violent conflicts, the Plateau State government-owned ASTC has cultivated 900 hectares of land in 14 areas. These communities, spread across Riyom, Barkin Ladi, and Mangu, were severely impacted by recent attacks, leading to the displacement of residents and destruction of farms. The farming…
President Bola Tinubu says a comprehensive forensic audit of the Central Bank is underway, while a thorough overhaul of the Civil Service payroll is imminent. The President stated this during an audience with the President of the World Bank, Mr. Ajay Banga, at the Presidential Villa, Abuja. ”The reforms are in tandem with Nigeria’s Ease…
Nigerian National Petroleum Company Limited (NNPCL) in partnership with a private firm is set to deploy Compressed Natural Gas (CNG) stations across the country. In a statement by the Chief Corporate Communications Officer NNPCL Garba Deen Muhammad, the collaboration is aimed at expanding CNG infrastructure, improve access to CNG, and accelerate the adoption of cheaper…
The Federal Competition and Consumer Protection Commission (FCCPC) has issued a directive to Google, calling for the immediate removal of 18 digital lending companies from its PlayStore and related platforms. Babatunde Irukera, CEO of FCCPC, in a statement said the Commission had identified these companies as operating without the necessary regulatory approval. “They were also…
The Nigeria Labour Congress currently holds an emergency National Executive Council meeting over the suspension of their strike action. A reliable source at the ongoing meeting in Abuja disclosed this to news men on Thursday morning. According to him, leaders of the Union are already discussing the possibility of suspending the strike owing to the…
The Initiative tagged “The Feed the Future Water for Agriculture activity”, supported by the United States Agency for International Development (USAID), has increased access to water for almost 55,000 farmers and herders in Adamawa, Borno, and Yobe States. This has resulted in over 1,600 farmers adopting improved agriculture production practices a statement by the US…
The Presidential Steering Committee on Palliatives, encompassing the Nigeria Labour Congress, NLC and the Trade Union Congress, TUC, of Nigeria, is currently meeting with the Federal Government team at the Chief of Staff Conference Hall, at Aso Rock, Abuja. Recall that the organized labor fumed out of the meeting on Friday last week, asserting that…
With efforts to help improve the standard of living for Lagos residents and to cope with the effects of fuel subsidy removal, Governor Babajide Sanwo-Olu has announced palliatives. The government decision would take effect from Wednesday, the decision states that there will be a 50% reduction on Lagos buses. Sanwo-Olu has also approved a 25%…
Human Rights Lawyer, Femi Falana has said the proposed strike and protest by the Nigeria Labour Congress and its affiliates does not translate to contempt of court as averred by the Federal Government. In a letter to the Ministry of Justice, Falana said no court has issued a perpetual injunction restraining Nigerian workers from participating…
The upward trend in the stock market will persist this week driven by corporate earnings releases and new policy pronouncements by the Federal Government, Analysts said in their projections for this week. Meanwhile, trading on the Nigerian Exchange Limited, NGX, last week shut down marginally positive despite pressure from profit-taking activities during the week. Specifically, the…
The Nigerian Association of Resident Doctors (NARD) has rejected the N25, 000 accoutrement allowance per quarter from the Federal Government. In a communique on Sunday, National Executive Council (NEC) of NARD, emphasised that their prior demand is for the Consolidated Medical Salary Structure to be fully restored to its right value as at the time…
An ex-banker, Uchenna Emmanuel, has apologized for having “mistakenly” used a bank customer’s ATM card to withdraw cash five times. The suspect, a cashier, made this known on Friday while being exhibited by the Ondo State Police Command in Akure, the state capital. In his narration, he professed to have made withdrawals from the account…
The Standards Organisation of Nigeria, in Bauchi State, says its operation team has imprisoned a suspected producer of fake Nitrogen, Phosphorus, and Potassium fertilizer at Chinade town in Katagum Local Government Area of the State. It added that no fewer than 150 bags of counterfeit fertilizer were also reclaimed from the suspect at his shop…
Google has partnered with Verve, allowing Nigerian users to use Verve cards for purchases on the Google Play Store with the Naira currency. With this collaboration, Google will process Verve transactions within Nigeria, and these transactions will be conducted in the local currency, Naira. This means that the transactions will be treated as local transactions…
