By Our Correspondent The Independent Petroleum Marketers Association of Nigeria (IPMAN) has attributed import bottlenecks and showering foreign exchange challenges to the current scarcity of petrol. Mr Mike Osatuyi, the Operations Controller of lPMAN, announced this to newsmen in Lagos on Sunday. Osatuyi said this became necessary to inform the general public against the backdrop […]
By Oluwashina Iyanda Nigeria‘s Gross Domestic Product (GDP) dropped by 1.78 per cent in the third quarter of 2022 from its level in the corresponding period in 2021. The GDP grew by 2.25 per cent in real terms in the third quarter of 2022 against the 4.03 growth rate recorded in the third quarter of […]
By Oluwashina Iyanda President Muhammadu Buhari, on Wednesday in Abuja, unveiled the new naira notes as proposed by the Central Bank of Nigeria (CBN). Buhari unveiled the new banknotes before the weekly Federal Executive Council (FEC) meeting at the state house, Abuja. Governor of the apex bank, Godwin Emefiele, was in attendance during the ceremony. […]
President Muhammadu Buhari says his administration has attracted over $3 billion in investment in the Oil and Gas Sector. Mr Femi Adesina quoted Buhari as stating this at the inauguration of the Kolmani Integrated Development Project in Bauchi. Such investment, he said, is coming at a time of near-zero appetite for investment in fossil energy. […]
By Our Correspondent Mallam Mele Kyari, the Group Chief Executive Officer of Nigerian National Petroleum Corporation (NNPC) Ltd., has challenged stakeholders to exploit the country’s huge oil and gas resources to boost the economy. Kyari spoke at the ongoing 40th annual international conference and exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos […]
By Our Correspondent The House of Representatives Committee on Public Procurement has rejected the N58 million capital allocation in the 2023 budget proposal for the Bureau of Public Procurement (BPP). Rep. Nassir Ahmed, Chairman of the Committee rejected the budget proposal when Mr Mamman Ahmadu, Director General of BPP appeared before the committee to defend […]
The Association of Bureaux Des Change Operators of Nigeria (ABCON) says the nation’s currency, Naira, has continued to firm against the Dollar at the parallel market as date for the introduction of new currency notes draw nearer. Alhaji Aminu Gwadabe, President (ABCON), told newsmen on Wednesday in Lagos that there is growing return to sanity […]
Four Federal Government agencies defended their 2023 budget proposals before the Senate Committee on Industries at the Upper Chamber of the National Assembly, on Thursday in Abuja. The NewsZenith reports that the agencies include the Industrial Training Fund (ITF), Bank of Industries (BOI), Standard Organisation of Nigeria (SON) and Small and Medium Enterprises Development Agency […]
The Central Bank of Nigeria (CBN) has advised Nigerian students to use the electronic naira (eNaira) platform to pay school fees and make other payments. Mrs Rakiya Muhammed, the Director of the Information Technology Department at the CBN and Coordinator of Technical Working Committee, eNaira Secretariat, gave the advice during a sensitisation on eNaira at […]
By Our Correspondent The Upper Chamber of the National Assembly, on Tuesday, suspended the consideration of the 2023 budget for the Ministry of Defence due to the inability of the Minister, Bashiru Magashi, to honour its invitation. The NewsZenith reports that the Senate Ad-hoc Committee on the resuscitation of the Nigerian Naval ship, NNS Aradu […]