Subsidy Bill Could Have Hit ₦53tn, Says NRS Chairman
By Oluwakemi Kindness The Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, says Nigeria’s petrol subsidy bill could have risen to about ₦53 trillion if the government had retained the policy. Adedeji also claimed that the naira could have weakened to about ₦3,500 to the dollar if the subsidy regime had continued. He made […]
CBN Retain Rates As Cardoso Says Economy Remains Resilient
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) says the country’s economy remains resilient despite mounting global uncertainties. Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, who srated this on Tuesday after the Monetary Policy Committee (MPC) meeting in Abuja, attributed the performance to reforms implemented by both the fiscal and monetary […]
Dangote Refinery Denies Fuel Export, Re-Import Claims
By Mardiyyah Abubakar Dangote Petroleum Refinery and Petrochemicals has dismissed claims that its petroleum products are exported to Lomé and later re-imported into Nigeria. In a statement, the company described the allegation as misleading and unsupported by facts, trade data, or commercial realities. Although the refinery said it does not usually respond to baseless claims, […]
SEC Bans IPO Marketing for Dangote Refinery Offer
By Oluwakemi Kindness The Securities and Exchange Commission (SEC) has warned investors against a purported Initial Public Offering (IPO) involving Dangote Petroleum Refinery & Petrochemicals FZE, declaring that no such offer has been filed with or approved by the regulator. In a public notice issued on Tuesday, the Commission said it uncovered a wave of […]
Workers’ Day: Kalu Backs Better Welfare Laws
By Oluwakemi Kindness The Deputy Speaker of the House of Representatives, Benjamin Kalu, has hailed Nigerian workers for their resilience and contributions to national development, pledging sustained legislative action to improve their welfare. In a message marking International Workers’ Day on Friday, Kalu describes the nation’s workforce as the backbone of economic growth, commending their […]
Senate Confirms Yuguda as CBN Deputy Governor
By Anayo Akwitti Nigeria’s Senate on Wednesday confirmed the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria, endorsing him as a fitting choice for the critical monetary policy role. The confirmation followed the presentation of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions, which […]
Tinubu Shakes Up Cabinet, Replaces Edun and Dangiwa
By Oluwakemi Kindness President Bola Tinubu has approved a significant cabinet reshuffle, removing the Minister of Finance, Wale Edun, and the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, in a move aimed at strengthening economic coordination and governance delivery. According to a statement from the Office of the Secretary to the Government of […]
FG Rejects World Bank Hidden Spending Claims
By Oluwakemi Kindness The Federal Government has rejected claims of hidden spending and diversion of federation revenue, saying recent reports misinterpret the World Bank’s Nigeria Development Update. Minister of State for Finance, Taiwo Oyedele, said suggestions that funds are being “diverted” reflect a misunderstanding of Nigeria’s fiscal system. “These interpretations misrepresent the World Bank’s analysis […]