BREAKING: Senate orders pay-tv service providers to revert to pay-per-view module
Senate has adopted a motion directing all pay television service providers to revert to pay per view module as against the mandatory monthly subscription. On Wednesday, a motion was sponsored motion by a Senator representing Benue South Senatorial district, Abba Moro, he lamented the incessant hike in price of various bouquets by the service providers […]
Dollar exchanges for N590 as forex scarcity bites harder
The Nigerian naira traded at N590 per dollar at the parallel section of the foreign exchange market. Reports showed that the exchange rate on Tuesday stood at N585/$1 and N785/£1 on the black market as against the N582/$1 last Friday, açcording to the Punch. Customers’ access to forex, placing a cap of $20 per month […]
Buhari government to borrow more money to fund petrol subsidy, says finance minister
The Minister of Finance, Budget and National Planning, Zainab Ahmed, says the Federal Government is targeting local borrowing in 2022 to fund subsidy payments. Ahmed, in an interview with Reuters, said the government would use $2.2 billion (N916 billion) of the fund raised via Eurobond to cater to petrol under-recovery costs. In September 2021, Nigeria […]
Rising oil prices comes with other high cost – Sylva
The Minister of Petroleum Resources, Chief Timipre Sylva has said that the federal government is not happy with the high cost of crude oil in the international market as it comes with other high costs for the country. Sylva told journalists in Abuja that the government was working to improve Nigeria’s low oil production level. […]
Oil price finally hits $100 per barrel following Ukraine crisis
Hours after Russia carried unleashed attack on Ukraine the price of crude oil (Brent) has hit the roof at $100 per barrel in the international market. Following a sustainable increase in demand for crude oil after the Coronavirus pandemic lockdown, it was predicted that oil prices could rise to $100 per barrel, but that did […]
Wema Bank fosters Talent Development employs over 60 young Nigerians
Wema Bank trains and employs Over 60 young Nigerians in technology to create innovative solutions in yet another demonstration of its unalloyed support for the growth and advancement of the careers of Nigeria’s teeming youths, leading innovative financial institution, Wema Bank, has employed 69 new graduates who recently completed its Bankers-in-Training Scheme. The Bankers-in-Training scheme […]
Flutterwave now valued at over $3bn after securing $250m funding
Flutterwave has raised $250 million in a Series D round that tripled the company’s valuation to over $3 billion in just twelve months. The San Francisco-headquartered and Lagos-based startup raised $170 million in a Series C round from Tiger Global and Avenir at a valuation of $1 billion in March 2021. The latest financing, which confirms a Bloomberg scoop from October, brings […]
Dangote, Flour Mills planning to make life difficult for Nigerians, BUA alleges
BUA Foods has alleged that Dangote and Flour Mills were planning to make life difficult for Nigerians. This is coming as BUA said it has distant itself from creating an artificial scarcity with the aim of increasing price. BUA foods in a statement said it had gotten lots of phone calls of customers and concerned […]
Nigeria gave N3trillion loans to over four million farmers for COVID-19, says Central Bank
The Central Bank on Thursday says it has disbursed over N3trillion in intervention loans as part of efforts to facilitate economic recovery and generate employment opportunities since the wake of the Covid-19 pandemic. Governor Godwin Emefiele revealed this after a meeting of the Banker’s Committee in Abuja. “Ladies and gentlemen, to date the CBN, working […]
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Fuel Scarcity: NNPC confirms adulterated fuel in circulation
The Nigerian Midstream and Downstream Petroleum Regulatory Authority have confirmed that adulterated petrol, fuel with methanol quantities above Nigeria’s specification, have been in circulation in Nigeria. In a statement, it said the supplier had been identified and appropriate sanction would apply. It also said oil marketers had been directed to ensure a sufficient supply of […]