The naira today depreciated to N927.19 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N927.19 per dollar from N832.32 per dollar on Thursday, indicating N94.87 kobo depreciation for the naira. The market recorded an intraday high of N1160 per dollar and […]

Sahara Group, a Nigerian energy and infrastructure entity, has said it is committed to transforming into a net zero business entity by 2060 as it continues to align operations to facilitate greener and cleaner energy solutions. Ejiro Gray, Director, Governance and Sustainability, Sahara Group, disclosed this during the presentation of Sahara Group’s 2022 sustainability report, […]

President Bola Tinubu will on Wednesday present the 2024 Appropriation Bill to a joint session of the National Assembly. This came as the Federal Executive Council on Monday approved the 2024 Appropriation Bill of N27.5tn. This is an increase from the N26.01tn earlier considered by the council. The Minister of Budget and Economic Planning, Abubakar […]

Minister of Power, Chief Adebayo Adelabu has revealed how he intends to tackle the electricity issues bedeviling the country. The minister suggested that the approach adopted by his predecessors have not worked, saying he plans to adopt a bottom-up approach. According to him, his new approach would ensure that the country has an adequate supply […]

Following continuous decline in agricultural productivity due to climate change, African governments should set up projects and work with reinsurers/insurers to protection for the agricultural sector. Deputy Managing Director/Chief Operating Officer of African Reinsurance Corporation, Mr. Ken Aghoghovbia, who made the assertion, noted that agriculture supports 55 to 62 per cent of the labour force […]

The Chief Executive Officer of DO.II Designs Ltd, Ifeyinwa Ighodalo has shed light on the hurdles faced by Nigeria’s furniture industry, highlighting a significant skill gap and scarcity of dollars. Addressing journalists in Lagos on Tuesday, Ighodalo disclosed these challenges while also unveiling the upcoming DO.II Big Black Friday sales. She said the impact of […]

The Petroleum Tanker Drivers arm of the Nigeria Union of Petroleum and Natural Gas Workers, on Sunday, threatened to pull out of NUPENG. PTD declared that it would pull out of the oil union if NUPENG’s National President, Williams Akporeha, and its General Secretary, Olawale Afolabi, failed to resign from their positions. The tanker drivers […]

The World Bank has commenced payment of the $800m approved for the National Social Safety Net Program-Scale Up. Newsmen on Wednesday learnt that the bank has disbursed about $299.99 million to Nigeria under the National Social Safety Net Programme-Scale Up approved by the World Bank on December 16, 2021. Documents obtained from the World Bank […]

Africa’s richest man, Aliko Dangote, has said his refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process gasoline soon. “We don’t want to start our refinery with foreign goods, we want to start with the Nigerian crude,” Dangote said in an interview in […]

The federal government has so far saved about N1.45tn from earnings generated from the removal of subsidy on Premium Motor Spirit, popularly called petrol between June and September. This is according to FAAC allocation documents obtained from the website of Nigeria’s Governors Forum and National Bureau of Statistics. An analysis showed that the funds remitted […]

Current track