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Rate hikes may trigger recession, W’Bank warns FG
The World Bank Group has warned Nigeria as well as other developing economies that simultaneous rate hikes in response to...
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Motorcycle ban hits traders, imports crash by 36%
Traders are hard hit by the ban of motorcycles in several states and the threat by the Federal Government to...
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Aircraft crisis persists as airlines struggle for forex
Domestic airlines may suffer forced depletion of aircraft following the struggle of local carriers to raise enough foreign exchange to...
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Reps begin investigation into NNPC’s 32-year joint ventures
The House of Representatives has begun its investigation of the Joint Ventures and Production Sharing Contracts entered into by the...
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No going back on power sector privatisation – FG
The Federal Government has reiterated its resolve and openness to more private sector collaboration as the only viable means of...
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Aviation firm acquires N500m handling equipment
The Nigerian Aviation Handling Company Plc, has taken delivery of a new set of ground support equipment, which includes four...
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Nigeria’s debt hits N42.84tn amid revenue crisis
Domestic debt has pushed Nigeria’s total public debt stock from N41.60tn as of March 2022 to N42.84tn as of June...
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Customs sell impounded vehicles as scraps, auctioneers kick
The Nigeria Customs Services has allegedly sold about 6,000 impounded vehicles and other items to selected firms and individuals, The PUNCH has...
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NESG, marketers fear crisis as fuel subsidy gulps N2.04tn
The Nigerian Economic Summit Group and oil marketers, under the aegis of the Petroleum Retail Outlet Owners Association of Nigeria,...
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Debt servicing gulps N6.16tn in 16 months
Debt service gulped N6.16tn in 16 months, according to the 2023-2025 Medium Term Expenditure Framework & Fiscal Strategy Paper. In...
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FG secures pipelines with N12.43bn, pays IOCs $4bn
The Federal Government has so far paid $4.04bn to five international oil companies as cash call arrears repayment and has...
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Nigeria’s oil production crashes to 900,000b/d
Nigeria’s crude oil revenue has continued to slump as the Organization of the Petroleum Exporting Countries’ newly released Monthly Oil...
Read moreShea butter, vegetable oil import gulp $264m – RMRDC
The Raw Materials Research and Development Council has said Nigeria spent $264m on the importation of shea-butter and castor oil...
Read moreNigeria, Morocco begin 5,600km gas pipeline project
The Nigerian National Petroleum Company Limited and the Office National des Hydrocarbures et des Mines of Morocco, on Thursday, signed...
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Banks deposits rise by 24% to N42tn
Total deposits in the banks rose by 24.17 per cent from N33.85tn as of the end of June 2021 to...
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2023: Senate, minister disagree over N12.43tn budget deficit
The Senate, through its Committee on Finance, has disagreed with the Minister of Finance, Budget and National Planning, Zainab Ahmed,...
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US plans $12bn for climate action in Nigeria
The United States Government on Tuesday signed various agreements with the Federal Ministries of Environment, Petroleum Resources, and Agriculture and...
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Angola, Libya overtake Nigeria in crude production – OPE
Nigeria’s oil production plunged to 972,000 barrels per day in August 2022, as Angola and Libya overtook Nigeria by producing...
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Nigeria’s cashew earnings hit N192bn, producers target $4bn
Nigeria’s annual earnings from the production and sale of cashew increased to about $450m or N192.64bn (as at Monday’s official...
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Stock market loses N38bn as 13 equities decline
The equities market of the Nigerian Exchange Limited declined by N38bn at the end of trading on Monday as 13...
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Passport issuance rises by 38%, more Nigerians relocate
The number of passports issued by the Nigeria Immigration Service rose by 38 per cent between 2020 and 2021, The PUNCH observed....
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FG gets low revenue from mining sector –RMAFC
The Revenue Mobilization Allocation and Fiscal Commission, has said the governments, especially states have been getting a rather low revenue...
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Banks ration forex sales as scarcity bites
Banks have begun to reduce approval requests for Personal Travel Allowance and Business Travel Allowance to legitimate users. The legitimate...
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Manufactured goods fall 36% to N2.87tn, inflation looms
The value of manufactured goods traded tumbled by 36 per cent from N4.51tn in the second quarter of 2021 to...
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FG may lose N7.58tn to contract disputes, damages
The Federal Government is currently facing several court cases over alleged breach of contract and a compilation of suits filed...
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