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April FAAC allocations increased to N2.257 trillion due to higher revenues from oil, gas royalties, and various taxes. This surge reflects improved financial inflows to the three tiers of government.
Cardoso has launched the Nigeria Overnight Financing Rate to improve market confidence and stability. Philip Ikeazor hailed this initiative as a significant step towards modernizing the financial market.
Agcoms International Trading Limited has praised President Bola Tinubu's $70 million tractor initiative aimed at improving food security in Nigeria. The company emphasizes that agricultural mechanization is crucial for economic and agricultural transformation.
Lagos State Government has created 320,000 jobs and supported over 20,000 businesses with N15 billion in funding. This initiative was facilitated through the Lagos State Employment Trust Fund (LSETF).
Nigeria's inflation rate has risen to 15.93%, driven by increasing food, energy, and commodity prices. This surge is particularly severe in states like Yobe, Anambra, and Sokoto.
Local manufacturers in Nigeria are pushing back against a World Bank-supported procurement framework in the electricity sector. They argue that this could jeopardize their market share and economic viability.
The apex bank said the new measure aims to promote transparency, reduce market concentration risks, and enhance the resilience of the country's payments ecosystem. The post CBN orders banks, fintechs to disclose owners, store payment data in Nigeria appeared first on Premium Time...
Nigeria's capital-importation figures are sparking intense debate, highlighting the country's capacity challenges. The discussion reflects the ongoing struggle to effectively utilize incoming capital for economic growth.
Nigeria's pension industry is celebrating its progress since the introduction of the Contributory Pension Scheme. Insights from South Africa's pension achievements could guide Nigeria's future strategies.
Dangote Refinery has lowered petrol gantry prices by N75 per litre to N1,175, providing relief to consumers. This reduction comes as tensions in the Middle East ease.
Peter Uzoho Nigeria’s downstream petroleum market received a major boost yesterday as Dangote Petroleum Refinery announced a significant reduction in its petrol ex-gantry price, cutting the rate by N75 per
The Manufacturers Association of Nigeria (MAN) has voiced its opposition to a proposed ban on lightweight plastic materials, citing potential economic risks and job losses. They are urging for the suspension of this ban to protect the industry.
Oil prices have decreased to $83 per barrel after a ceasefire agreement between the US and Iran. This development is expected to influence global fuel prices, including Nigeria's petrol costs.
Marketers in Nigeria are set to increase cooking gas imports due to a significant 140% rise in prices. This move aims to enhance supply and make cooking gas more affordable for consumers.
The Nigeria Customs Service has seized a shipment of foreign vegetable oil valued at N403.4 million. This action aims to disrupt economic sabotage and support the local industry.
The World Bank has recognized Nigeria's Apapa and Tin Can ports as among the top 20 most improved container ports globally. This acknowledgment highlights significant progress in Nigeria's port operations.
Hard fighting Blessing Otu stroked her way into the second round of the on -going 47th edition of the Central Bank of Nigeria Senior Tennis Championship holding at the Tennis Courts
The FCCPC is collaborating with the presidency to enhance foreign direct investment initiatives in Nigeria. However, regulatory actions may pose challenges to President Tinubu's investment drive.
The CBN has directed Nigerian banks and fintechs to store all payment transaction data on local servers from January 1, 2027, enhancing oversight and data
Emmanuel Addeh in Abuja Nigeria produced about 35.3 million barrels less crude oil and condensate than projected in its 2026 budget between January and May, highlighting the gap between the
Nigeria has been celebrating a remarkable transformation in its oil and gas company register with the number of upstream operators rising from less than 10 in 2010 to 117 today,
Nigeria's tourism and hospitality stakeholders are advocating for more investment and innovative financing to enhance the sector's growth. They emphasize the importance of public-private partnerships to realize its economic potential.
Belgium and Egypt played to a 1-1 draw in their World Cup group stage opener. Romelu Lukaku’s presence forced an own goal, spoiling Mohamed Salah’s birthda
The Strait of Hormuz will reopen on Friday following a US-Iran agreement, as announced by Trump. This development is expected to stabilize oil prices and alleviate inflation concerns.
BudgIT has highlighted the ineffectiveness of Nigeria's federal budgets in fostering real economic development. The analysis points to systemic issues that render budget approvals as mere formalities rather than impactful financial plans.
Nigeria's gas output rose to 7.93 billion cubic feet per day, marking a 0.63% increase from the previous year. Domestic sales also saw a rise, reaching 2.18 billion cubic feet.
The Edo State Police Command has assured residents that significant progress is being made in the ongoing operation to rescue read more Edo Police signal progress in rescue of woman abducted at Benin Market
Nigeria's inflation has risen to 15.93%, primarily due to increasing food costs. This marks the third consecutive month of rising consumer prices, according to the National Bureau of Statistics.
Aliko Dangote and Governor Aiyedatiwa are collaborating to establish Nigeria's largest free trade zone in Ondo State. The initiative promises to enhance infrastructure, including power and logistics.
… ordered banks, others to disclose the ultimate beneficiary ownership of shareholders … Gives December 31, 2026 for full compliance read more CBN curbs payments dominance with new market share limits