Dangote Refinery Slashes Petrol Price To N899.50
In a bid to offer Nigerians some relief as the holiday season approaches, Dangote Refinery has announced a reduction in the price of Premium Motor Spirit to N899.50 per litre. This was contained in a statement issued by the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, on Thursday. The latest reduction […]
Bank Workers Blame CBN Over Persistent Cash Scarcity
The Association of Senior Staff of Banks, Insurance, and Financial Institutions has attributed the worsening cash shortage across the country to the Central Bank of Nigeria’s inability to meet the cash demands of commercial banks. Speaking with The PUNCH ASSBIFI President, Olusoji Oluwole, highlighted the dire impact of the scarcity, particularly as the festive season […]
FX turnover tumbles by 71% as naira weakens further
The naira fell on Monday at both the official and black markets to 1670.75/$ and 1748/$, respectively, as the daily foreign exchange turnover in the official market dropped by 71 per cent to $81.17m. This comes amid projections that the rates would hold steady within a close range across different market segments, driven by the […]
Part Of Our Problem In Africa Is Lack Of Continuity – Obasanjo
A former President Olusegun Obasanjo has blamed lack of continuity and policy somersault as one of the major hindrances to achieving food security in Africa and the continent’s overall development. Obasanjo said that the government should also stay away from getting involved in the business of production but rather provide the enabling environment that could […]
Reps Ask CBN To Pull Off Old Note, Release More New Notes
The House of Representatives has asked the Central Bank Of Nigeria (CBN) to make available more new notes of N200, N500 and N1,000 as well as begin a gradual withdrawal of the old notes from circulation. The House also asked the CBN to direct commercial banks to issue more new notes to customers and engage […]
FG Gives 60 Days Deadline To Abuja Property owners To Settle debts.
The Federal Ministry of Housing and Urban Development has declared a 60-day ultimatum for all Federal Certificate of Occupancy title owners to settle their debts, warning that failure to comply would lead to the revocation of their titles. This announcement was made by the Minister, Ahmed Dangiwa, during his address at the 29th Conference of […]
FG Stops Cooking Gas Export As Prices Continues To Soar
The Federal Government has stopped the export of locally produced Liquefied Petroleum Gas, also known as cooking gas, to prioritise domestic supply. The measure announced by the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, on Tuesday, will begin November 1, 2024, and is to tackle the high gas price in Nigeria. This was contained […]
Tariff Hike Crucial For MTN’s Sustainability, Says CEO
MTN Nigeria, the country’s largest telecom operator, has stressed the urgent need for the telecommunications sector to return to profitability to sustain its operations. The Chief Executive Officer of MTN, Karl Toriola, made this known on Monday during a tour of MTN’s facilities by Fellows of the Media Innovation Programme in Ibeju-Lekki, Lagos. The MTN […]
World Bank Approves $1.57bn Loan For Nigeria
The World Bank has approved three new loan requests totalling $1.57bn in financing for Nigeria. According to a statement released on Monday, the approval is to support the Federal Government in strengthening human capital through better health for women, children and adolescents. It added that the approved projects would also help build resilience to the […]
Beans price rise by 271% in one year – Report
The National Bureau of Statistics has reported a rise in the price of brown beans (sold loose) in August 2024. According to the Selected Food Price Watch for August, the average price of 1kg of brown beans surged by 271.55 per cent on a year-on-year basis to N2,574.63, up from N692.95 in August 2023. On […]