CBN finally bows, devalues Naira *See the new rates

The Central Bank of Nigeria (CBN) on Friday devalued the naira by N6 to dollar. The naira devaluation has brought the local currency closer to the exchange rate unification agenda of the apex bank as recommended by the International Monetary Fund (IMF) and World Bank. In a weekly exchange rate for...... read more


Fuel import from Niger won't last beyond 2023 - FG *Buhari eyes exportation soon

The dust raised by Nigeria’s decision to import from petroleum products from Niger may not last beyond two years, if the optimism by the Federal Government is to be relied upon. Both President Muhammadu Buhari and the Managing Director of the Nigerian National Petroleum Corporation (NNPC), Managing Director, Malam Mele Kyari,...... read more


Exchange rate can’t be fixed by economic brigands – Emefiele *Naira still 360 to dollar

Those using parallel market rate to put pressure on the Central Bank of Nigeria (CBN) to devalue the Naira won’t have their way. The CBN Governor, Mr Godwin Emefiele gave this indication at the end of the last 2020 Monetary Policy Committee (MPC) meeting, in Abuja, on Tuesday. He said: “It...... read more


Bayelsa bemoans drop in revenue

The Bayelsa State government on Monday lamented the decline in revenues accruing from the federation account while announcing its income and expenditure profile for the months of August, September and October 2020. Presenting a breakdown of the figures for the three months in Yenagoa, the Commissioner for Finance, Mr. Maxwell Ebibai,...... read more


Fuel importation from Niger: Instead of anger, Nigerians should be celebrating - Sylva

Against the backdrop of deafening echoes of discontent across the country following the revelation that Nigeria has signed an agreement to import Premium Motor Spirit (PMS), otherwise known as petrol, from Niger Republic, Ministry of State for Petroleum Resources, Timipre Sylva, said on Monday that the people ought to be celebration....... read more


Nigeria can’t continue with present level of poverty without crashing – Obi

For the umpteenth time, Peter Obi, Former Governor of Anambra State and Vice Presidential candidate of the Peoples Democratic Party (PDP) in 2019, is warning about the consequences of allowing the present level of poverty in Nigeria to continue. Warning that the present situation remained a threat to national growth, Obi...... read more


In Kogi, every loaf of bread now attracts levy *We need the money for development - govt

Every loaf of bread you buy in Kogi State henceforth will carry an extra price fixed by the bakers in form of a tax to the government, according to a new law in place in the Confluence State. The new law, which the government, said was put in place to up...... read more


BREAKING: Sanwo-Olu stops pensions for Tinubu, Fashola, Ambode *Says, Lagos needs the money

Lagos needs all the money it could muster so far to tackle the numerous problems confronting the government and the people and therefore can no longer pay the humongous pensions and other entitlements to past governors and their deputies, its governor, Babajide Sanwo-Olu, said on Tuesday. Under the Lagos State Public...... read more


Dangote: Expect our fuel next year *How we’ll determine cost

Premium Motor Spirit (PMS), direct from Dangote Refineries, will pumped into cars driven on Nigerian soil, as from October 2021, a phenomenon, which if achieved, could determine a lot of changes in the economy of the country. Nigerians are hoping that the 650,000-barrel per day (bpd) integrated refinery and petrochemical project,...... read more


Nigeria goes to Brazil for fresh loan *Seeks approval of NASS for N500billion

Nigeria would be borrowing a fresh N500billion from Brazil if the request to that effect currently sitting with the National Assembly is acceded to, adding to the already troubling loan profile of the country. Regardless outcries from several quarters particularly former Anambra State Governor, that too much borrowing, is killing the...... read more


DisCos go crazy with crazy bills *Slam consumers with 1,000 per cent increase on estimation

Consumers of electricity are practically groaning under a new wave of outrageous bills being churned out for them by the distribution companies (DisCos), in charge of supply of power to households, who have completely thrown any form of regulations overboard. Though the National Electricity Regulatory Commission (NERC), in February issued an...... read more


Supreme Court didn’t cede disputed oil wells to Rivers – Bayelsa govt

Bayelsa State has said Tuesday’s verdict of the Supreme Court on the matter it instituted over the disputed oil wells with neighbouring Rivers State neither amounted to a resolution of the dispute or ceding of the oil wells or area to the state. The Bayelsa State Commissioner for Information, Orientation and...... read more


BREAKING: After months of skeletal services, all markets in Lagos now free to reopen

With the nod of Lagos State Governor Babajide Sanwo-Olu, the last vestige of the COVID-19 lockdown seems to be disappearing for good in the nation’s former capital and main commercial city. Commissioner for Local Government and Community Affairs, Dr Wale Ahmed, made this known in a statement on Tuesday, according to...... read more


COVID-19 in warehouses: CBN explains *Urges Nigerians to calm down

Central Bank of Nigeria (CBN) has come out with a full explanation on what led to the delays in the distribution of the COVID-19 palliative items now being looted in various warehouses in states across the country, where they are being kept for distribution by the various governments. The nations apex...... read more


Italian Oil Firm Eni Reports Nigeria To World Bank Over OML 245 Oil Field

An Eni spokesman said the request for arbitration was aimed at protecting its investments and investors, and that it was confident of a satisfactory solution for both parties. The Italian oil major also filed a request for evidence on Oct. 6 with a court in the U.S. state of Delaware which...... read more


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