PRESIDENT DANGOTE GROUP, ALIKO DANGOTE OFFERS TO SELL THE DANGOTE REFINERY TO THE NIGERIAN NATIONAL PETROLEUM CORPORATION LIMITED.

President of Dangote Group, Aliko Dangote, has made an offer to sell the Dangote Refinery to the Nigerian National Petroleum Corporation Limited. Speaking in an exclusive interview with newsmen, the businessman expressed his willingness to sell the refinery to address allegations of monopoly in the industry. He stated that if the NNPCL takes over the refinery, the allegations of monopoly would no longer be valid. This is coming after the […]

July 22, 2024 9

Business

SENATE SAYS ITS EMERGENCY MEETING WITH THE ECONOMIC TEAM OF PRESIDENT BOLA TINUBU IS TO ASSESS THE ECONOMY AND LEVEL OF IMPLEMENTATION OF THE 2024 BUDGET.

Senate says its emergency meeting with the economic team of President Bola Tinubu is to assess the level of implementation of the 2024 budget and how it impacts on the lives of the common Nigerians. In his remarks at the meeting ,Senate Committee chairman of Finance Senator Sani Musa said the although the committee is aware of the efforts of the administration to reposition the ailing economy but that there […]

July 16, 2024 12

Business

CENTRAL BANK COMMENCE SALES OF FOREX TO BUREAU DE CHANGE

Central Bank of Nigeria has commenced sales of forex to Bureau De Change operators after a four-month hiatus, newsmen have reported . This was after the apex bank confirmed forex sales of $122.67m to 46 authorized dealers on Friday. A statement signed by the Bank’s Director in charge of Financial Markets, Dr Omolara Duke, said the new release is part of the bank’s determination to promote stability and reduce market […]

July 12, 2024 25

Business

HOUSE OF REPRESENTATIVE TO EMBARK ON INTENSIVE OVERSIGHT ON AGENCIES IN CHARGE OF AMAC

House of Representatives Committee on the Federal Capital Territory (FCT) Area Councils and Ancillary Matters, has expressed its decision to embark on intensive oversight on agencies in charge of all Area Councils in the nation's capital. This, the Committee said, is due to the refusal of some of the agencies to honour its summons to present their budgetary expenditures. The Committee, led by representative Frederick Agbedi, also vowed to sanction […]

July 12, 2024 7

Business

NIGERIA’S DEBT-TO- GROSS DOMESTIC PRODUCT (GDP) RATIO SAYS DEBT MANAGEMENT OFFICE

The Debt Management Office (DMO), says Nigeria’s debt-to- Gross Domestic Product (GDP) ratio is within the specifications of the World Bank and International Monetary Fund (IMF) for the country’s peer group. Director-General of the DMO, Patience Oniha, said this in an interview with newsmen on Tuesday in Abuja while reacting to some media reports that the debt-to-GDP ratio of 52 per cent exceeded the World Bank/IMF’s prudential ceiling for countries […]

July 9, 2024 29

Business

FEDERAL HIGH COURT IN LAGOS DIRECTS FORMER MINISTER OF HUMANITARIAN AFFAIRS, DISASTERS MANAGEMENT AND SOCIAL DEVELOPMENT, SADIA UMAR-FAROUK, TO ACCOUNT FOR N729BN.

Federal High Court in Lagos has directed the former Minister of Humanitarian Affairs, Disasters Management and Social Development, Sadia Umar-Farouk, to give details of how N729bn allegedly disbursed to 24.3 million poor Nigerians was carried out. Justice Dehinde Dipeolu of the court ruled that the ex-minister should provide a list of all the beneficiaries, including their bank details, that received the N5,000 disbursed for six months. The judge gave the […]

July 8, 2024 15

Business

CHAIRMAN OF ZENITH LABOR PARTY, BARRISTER DAN NWANYANWU PRESCRIBES FREE TRANSPORTATION AS SOLUTION TO LABOUR CRISES

The Federal has been asked to adopt a more proactive action to ensure a conducive working environment for Nigerian workers. Chairman of Zenith Labor Party ,Barrister Dan Nwanyanwu while speaking with newsmen over the weekend suggested that provision of a functional transportation system for all Nigerian workers will reduce the level of agitation by them for living wages. The lawyer drew the attention of the federal government to instances where […]

July 8, 2024 81

Business

NIGERIAN NATIONAL PETROLEUM COMPANY LIMITED DECLARES STATE OF EMERGENCY ON CRUDE OIL PRODUCTION.

The Nigerian National Petroleum Company Limited says it has declared a state of emergency on crude oil production, adding that the move is geared towards increasing Nigeria’s oil production and growing its reserves. Group Chief Executive Officer of NNPCL, Mele Kyari, disclosed this in a keynote address at the opening of the 23rd edition of the Nigeria Oil and Gas Conference and Exhibition Week in Abuja, on Tuesday. According to […]

July 3, 2024 36