The Chairman of the BUA Group and billionaire businessman, Alhaji Abdulsamad Rabiu, has called on Nigerians to exercise patience with President Bola Tinubu’s government as it strives to achieve stability in the foreign exchange market. Rabiu made this appeal during a discussion with the press on Tuesday, October 31, after a closed-door meeting with President…

The Lagos State Government has officially reopened both the Alaba International Market and select markets within the Trade Fair Complex in Ojo. The closure of these markets last week was prompted by issues related to improper waste management and other environmental violations. Commissioner for the Environment and Water Resources, Tokunbo Wahab, emphasized that the decision…

Professor Pat Utomi has issued a warning to the Tinubu administration, advising them to exercise caution in managing the ongoing depreciation of the Naira. Since President Bola Ahmed Tinubu announced the removal of fuel subsidy on May 29th, the Naira has witnessed a significant 40% decline in its value in the foreign exchange market, further…

NNPC Cautions Against Panic Purchases, Ensures Ample Fuel Reserves In a statement released on October 19, the Nigerian National Petroleum Corporation (NNPC) Limited cautioned Nigerian citizens against panic buying. The NNPC clarified that the queues observed in certain areas of Lagos and Abuja were a result of reduced depot loadout in Apapa, Lagos, for a…

Former U.S. President Donald Trump no longer meets the financial criteria for inclusion in Forbes magazine’s prestigious Forbes 400 list. Forbes now estimates his net worth at $2.6 billion, a decrease from the previous year’s estimate of $3.2 billion, which had secured his spot on the 2022 rich list. Trump’s estimated net worth of $2.6…

On the night of October 2, 2023, the Organised Labour reached an agreement to suspend the indefinite strike initially scheduled to commence on October 3, 2023, following approximately five hours of negotiations between the Organised Labour and the Federal Government at the Chief of Staff Conference Room of the Presidential Villa in Abuja. The Minister…

The federal government is reported to have disbursed N169.4 billion in August to maintain the pump price at N620 per litre, effectively resurrecting the fuel subsidy. According to documents from the Federal Account Allocation Committee (FAAC), examined on September 20 by DailyTrust, the Nigerian Liquefied Natural Gas (NLNG) transferred $275 million in dividends to Nigeria…

IBEDC, the Ibadan Electricity Distribution Company, has confirmed that the Nigerian Electricity Regulatory Commission (NERC) is yet to issue a directive on the proposed new electricity tariff, which was originally scheduled to take effect on July 1. The announcement of the new tariff has faced strong opposition from various stakeholders, who argue that the timing…

AfDB Approves $115 Million Loan to Abia for Road Rehabilitation and Erosion Control The Board of Directors of the African Development Bank (AfDB) has granted approval for a loan of $115 million to support a significant road rehabilitation project in Abia State, Nigeria. In an announcement made by the Nigeria Country Department of the bank,…