Latest Nigeria Business News
The amount of electricity generated by the nation’s power plants fell below 3,000 megawatts on Friday, dropping by over 600MW in 24 hours. The power stations were forced to either shut down some of their units or reduce their generation largely as a result of low load demand by distribution companies, worsening the blackout being […]
The Nigerian treasury bills auctioned in October was oversubscribed by N512.22bn. The Debt Management Office disclosed that N121.88bn treasury bills of N5.84bn 91-day, N3.5bn 182-day and N112.53bn 374-day tenors were auctioned on October 16. The auction results showed a total subscription level of N634.11bn which comprised N9.38bn for the 91-day tenor, N38.08bn for the 182-day […]
The Nigeria Deposit Insurance Corporation has said that it has paid off no fewer than 526,414 depositors of closed Deposit Money Banks and Micro Finance Banks since its inception 30 years ago. The Managing Director of the corporation, Alhaji Umaru Ibrahim said this at a news conference to commemorate its 30th anniversary in Abuja on […]
LABOUR and the Federal Government last night reached an agreement on the consequential adjustment to the salaries of senior civil servants towards the full implementation of the new minimum wage. The agreement, after two days of talks, ended the strike threat. In addition to Federal Government workers on Levels 1-6, who already enjoy the N30,000 […]
President Muhammadu Buhari on Thursday approved the release of N10billion intervention fund to upgrade the Akanu Ibiam International Airport in Enugu. This was announced hours after a meeting with Southeast governors and leaders from the zone at the Presidential Villa in Abuja. The President made the announcement in a post on his official Twitter handle […]
THE Senate on Thursday directed the Acting Managing Director, Niger Delta Development Commission (NDDC), Dr Enyia Akwagaga, to appear before it next Tuesday. Senate Committee on Public Accounts Chairman Matthew Urhoghide gave the directive following Akwagaga’s absence at a hearing on the award of N65 billion contracts. The contracts were awarded between 2017 and this […]
Oyo State Governor, Mr. Seyi Makinde, has said that the security challenges confronting the people of the Southwest will soon be a thing of the past as governors in the region are working on the launch of a joint security outfit codenamed: “Amotekun” soon. He said the decision to launch the joint security outfit was part of […]
Troops of the Nigerian Army on Operation Thunder Strike have killed one bandit said to be a kidnapper on Kaduna-Abuja highway. The troops also rescued three villagers abducted from their farms on Wednesday in Maro village along the highway. Deputy Director Army Public Relations, 1Division Nigerian Army Kaduna, Col. Ezindu Idimah disclosed these to newsmen […]
The International Monetary Fund (IMF) yesterday asked the Federal Government to fight corruption and ensure that the wealth of the country is used to serve the citizens. IMF Managing Director, Kristalina Georgieva, who disclosed it at the ongoing IMF/World Bank Annual Meetings in Washington D.C said Nigeria matters not only to the country, but to the entire […]
International Monetary Fund IMF, has said that for Nigeria to fast track its development the priority should be a comprehensive reform to durably increase non‑oil tax revenue saying that Nigeria uses two-third of its revenue to service debt. Speaking at the ongoing IMF/World Bank Annual Meetings in Washington DC, Mr Vitor Gaspar, Director, Fiscal Affairs […]