According to the Federal Government, $175 million in private sector investments in vital infrastructure have been made possible in the past year by the presidential Compress Natural Gas initiative. The information was provided in a statement on X on Tuesday by Nigeria’s Minister of Information and National Orientation, Mohammed Idris. He claims that the number…
A statement by the Special Adviser to the President (Information & Strategy), Bayo Onanuga, on Wednesday said the President would use the two weeks as a working vacation and a retreat to reflect on his administration’s economic reforms. President Bola Ahmed Tinubu will depart Abuja today for the United Kingdom to begin a two-week vacation,…
This program was formally launched in Abuja on Friday at a signing ceremony for a Memorandum of Understanding. Michael Oluwagbemi, the Presidential Compressed Natural Gas Initiative’s program director, spoke at the occasion and highlighted the government’s commitment to providing cheap transportation despite rising fuel prices. “We are doing a lot of effort to lower the…
The Central Bank of Nigeria (CBN) has announced the sale of $20,000 to each eligible Bureau De Change (BDC) operator in the country at the rate of N1,590/$. The central bank stated that the foreign exchange will offer “extra liquidity to this segment of the foreign exchange market” in a circular dated September 25, 2024,…
The President and Chief Executive of Dangote Group, Aliko Dangote, has urged the Federal Government to end fuel subsidies completely. Speaking in a 26-minute interview with Bloomberg Television in New York on Monday, the time is right to end subsidies that have gulped trillions of naira from the country’s coffers. According to him, the removal…
The Central Bank of Nigeria has clarified the Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines For Fiscal Years 2024 – 2025 paper released on Tuesday, September 17, 2024. According to the statement, the apex bank also withdrew the document, adding that this action was taken to reduce the possibility of future misrepresentations or misunderstandings…
This has happened as a result of the student body’s insistence on carrying out the organized statewide demonstration against the rise in petrol prices. The National Association of Nigerian Students (NANS) leadership has declared that should the necessity arise, it is prepared to meet with President Bola Tinubu to discuss its demands for the reversal of…
Finding the sales locations for the N40,000 subsidized rice that the Federal Government formally inaugurated last week is proving difficult for Nigerians residing in the Federal Capital Territory. The sale of 30,000 metric tonnes of milled rice at a discounted rate of N40,000 per 50kg bag was inaugurated by Senator Abubakar Kyari, Minister of Agriculture…
Nigeria and China have inked a $3.3 billion deal for the development of the Methanol Complex and Brass Industrial Park. The Ministry of Finance made this revelation in a statement signed on Friday by Mohammed Manga, Director of Information and Public Relations. The statement claims that the deal was inked at the first China-Nigeria Economic…
To achieve security and stability, President Bola Ahmed Tinubu has urged African leaders to reject protectionism. He claims that the world’s problems with armed conflict and food insecurity can only be solved through alliances built on mutual respect, equity, and inclusivity. In his capacity as Chairman of the ECOWAS Authority of Heads of State and…
