About N1.7 trillion in revenue by the Federal Account Allocation Committee (FAAC) has been shared by the federal, state and local governments in February 2025. A statement issued on Saturday by the Director of Press and Public Relations, Bawa Mokwa, revealed that a total of N1.678 trillion was distributed in March 2025 during the Federation…
The naira appreciated by 0.16 percent to 1530.52/$ from 1532.93/$ in the previous trading session on the Nigerian Foreign Exchange Market at the close of trading on Wednesday. Data from the Central Bank of Nigeria showed that the naira traded at a high of 1545/$ and a low of 1500/$, which was lower than Tuesday’s…
Insurance company, Aiico has forecasted a Gross Written Premium (GWP) of ₦114.3 billion for the second quarter of 2025 from insurance revenue of ₦67.2b currently recorded. In a notice to the Nigerian Stock Exchange (NSE) on Wednesday, the firm said the 2025 projections are made based on seasonal trends of premium receipt with a consideration…
The Federal Government, through the Minister of Aviation and Aerospace Development, Festus Keyamo, has disclosed ongoing efforts to address the high cost of air tickets for both domestic and international travel while also announcing enhancements in airport safety and security. Keyamo disclosed this in his remarks at the Ministerial Press Briefing on Thursday in Abuja….
Tech giant Microsoft will invest $298 million on artificial intelligence (AI) and data centre infrastructure in South Africa, the company’s vice-chair said Thursday. In January, the multinational company revealed plans to offer AI and cybersecurity training to one million South Africans by 2026. “We are increasing our investment to expand our AI and data center…
Nigeria has officially joined the European Bank for Reconstruction and Development (EBRD). This addition increases the total number of EBRD shareholders to 77, including 75 national shareholders, the European Union, and the European Investment Bank. Nigeria applied to join the bank in April 2024, and the EBRD’s Board of Governors approved its membership in May…
The Federal Competition and Consumer Protection Commission (FCCPC) has directed MultiChoice Nigeria, the operator of DStv and GOtv, to maintain its current subscription prices pending the conclusion of an ongoing investigation into the company’s proposed tariff adjustment. FCCPC disclosed this in a statement on Thursday by its Director of Corporate Affairs, Ondaje Ijagwu. The directive…
A total sum of ₦ 1.703 trillion, being January 2025 Federation Account Revenue, has been shared with the Federal Government, states, and local government Councils. This is according to a statement on Thursday by the Director of Press and Public Relations, Office of the Accountant General of the Federation, Bawa Mokwa. Mokwa said that the…
The Federal Government has inked a deal with Saudi Arabia’s Halal Products Development Company (HPDC) to make Nigeria a leading player in the global halal market, which is valued at $7.7 trillion. At the signing of the deal in Saudi Arabia on Wednesday, Vice President Kashim Shettima said the agreement is a game-changer. According to…
The management of Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, from ₦890 to N825 per litre, effective from 27th February 2025. The slash in price by ₦65.00 was announced in a statement on Wednesday by the refinery. According to the statement, buyers…
