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…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has moved to quell concerns by assuring Nigerians that there are no plans to raise the petrol pump price to N700 per litre. IPMAN urges the public not to engage in panic buying or hoarding of petroleum products. In response to circulating rumors, IPMAN emphasizes that there…
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,…
The Central Bank of Nigeria (CBN) and the Bill and Melinda Gates Foundation (BMGF) have finalized plans for a collaborative effort focused on financial inclusion. In a recent statement, the CBN announced that strategic discussions were held between the two entities to explore deeper collaboration in enhancing financial inclusion in Nigeria. During the discussions, Folashodun…
The Abuja Electricity Distribution Company (AEDC) has issued a notification to its customers, informing them of an upcoming electricity tariff increase starting from July 1, 2023. The decision to review the tariff is attributed to the fluctuation of the Naira in the exchange rate. According to the statement released on Sunday, June 25, the exchange…
As preparations for the Eid-el-Kabir celebration are underway, Nigerians are expressing widespread dissatisfaction over the soaring prices of rams and basic food commodities in various markets across the country, according to the News Agency of Nigeria (NAN) reports. Market surveys conducted by NAN correspondents in several states, including Ondo, Ekiti, Osun, Edo, Kaduna, Borno, Yobe,…
