Until the Dangote Refinery comes on stream, there may be no respite from aviation fuel crisis rocking both airlines and the industry at large. The Minister of Aviation, Hadi Sirika, said this in reaction to the astronomical rise of aviation fuel, just as the essential commodity reached a new record ...
Non-remittance of dollars to foreign reserves by the Nigeria National Petroleum Corporation (NNPC) is responsible for naira’s free fall in the official and parallel markets, the Central Bank of Nigeria (CBN) has said.As at the close of work yesterday, the naira traded for N700/$1 at the parallel market and N415.96/$1 ...
Nigerian telecommunications consumers may need to tighten their belts in the days ahead as Federal Government has concluded plans to impose 5% Excise Duty on all telecommunications services ranging from calls, SMS and data services. This is coming as major stakeholders in the sector, the Association of Licensed Telecoms Operators ...
Oil and gas operators said they have not received subsidy payments on petroleum products from the federal government since 2015. The companies disclosed this when they appeared before the House of Representatives ad-hoc committee investigating the subsidy regime in Nigeria at the National Assembly Complex, Abuja. According to them, the ...
Nigeria’s Central Bank has asked a court for a directive to freeze accounts of 157 companies in the Meter Asset Providers (MAPs) scheme for alegedly diverting funds meant for the procurement of prepaid meters. TheCable report cited a law suit filed at the federal high court in Lokoja in Kogi ...
The Edo State Ministry of Health has revealed that eight persons had so far tested positive for monkeypox in the state. Consequently, it urged residents to observe safety measures to reduce the spread of the virus and other infectious diseases in the state. The state’s Commissioner for Health, Professor Akoria ...
Amid the decline in the revenues disbursed to them by the Federal Accounts Allocation Committee (FAAC) in recent months, the total debt owed by states to the Central Bank of Nigeria (CBN) has increased to N1.24 trillion. In November last year, President Muhammadu Buhari approved a N656 billion bridge financing ...
Lagos Governor Babajide Sanwo-Olu has declared four work-free days for public workers to register and collect their Permanent Voter Cards(PVCs) ahead of the deadline on July 30. Starting from Tuesday, public workers from different grades have been scheduled on the expected day to be off from work for the exercise. ...
The US has risen to become the world's largest liquefied-natural gas exporter during the first half of 2022, according to the Energy Information Administration. According to an EIA report, US LNG exports increased by 12% in the first half of this year compared with the second half of 2021. In ...
Operators of commercial tricycles and motorcycles have kicked against Federal Government’s plan to impose a ban on the use of motorcycles as part of the plan to curb insecurity. They said executing such plan will prove counterproductive. The operators, under the aegis of the Almalgamated Commercial Tricycle and Motorcycle Owners, ...
