An energy expert, Prof. Wumi Iledare, says recent increases in petrol pump prices in Nigeria are largely driven by market expectations and fluctuations in global crude oil prices. Iledare, a Professor Emeritus of Petroleum Economics and Policy Research at Louisiana State University’s Centre for Energy Studies, said fuel prices in the short term often respond…
Former President Olusegun Obasanjo has commended Nigeria for securing the hosting rights for the fifth edition of the Intra-African Trade Fair 2027, describing the development as a major milestone for the country and the African continent. Obasanjo, gave the commendation on Monday, at the Wole Soyinka Centre for Arts and Culture, at the signing of…
Many residents of the Federal Capital Territory (FCT,) say worsening economic conditions have continued to strain household budgets, forcing many families to adopt drastic coping strategies to survive. The residents, including civil servants, artisans and traders, said this in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja. According to the…
The Minister of State for Finance Designate, Dr Taiwo Oyedele has on Wednesday in Abuja, disclosed that not fewer than 12 states of the Federation have enacted the Tax Harmonisation Law. Oyedele, who was appointed on Tuesday as Minister of State for Finance, spoke during the graduation ceremony of 5,900 young entrepreneurs trained by MTN…
The Central Bank of Nigeria (CBN) has taken delivery of responsibly sourced gold refined to London Bullion Market Association (LBMA) Good Delivery standards into its foreign reserves. A statement by the apex bank on Wednesday said that this brings the CBN’s total gold holdings to 3.5 billion dollars, marking a significant step in its reserve…
The Federal Capital Territory Internal Revenue Service (FCT-IRS), has set March 31 deadline for all taxable individuals resident in the FCT to file their annual income tax returns. This is contained in a statement issued by the Head, Corporate Communications, FCT-IRS, Mr Mustapha Sumaila, in Abuja on Monday. He said that the Service had advised…
AMNI International Petroleum Development Company says the arrival of a drilling rig at Okoro Field reinforces confidence in Nigeria’s indigenous oil and gas industry. Its Chairman and Chief Executive, Dr Tunde Afolabi, in a statement issued on Sunday in Lagos, said that the mobilisation remained “a defining operational milestone for the company”. He also said…
The Nigeria Export Processing Zones Authority (NEPZA) has expressed partnership with the Borno State government to revive the moribund Banki Free Trade Zone. The Managing Director of NEPZA, Dr Olufemi Ogunyemi, made this known during a courtesy visit by the Governor of Borno State, Prof. Babagana Zulum, in Abuja. Ogunyemi, who is also the Chief…
Dr Titus Okunrounmu, former Director, Research Department, Central Bank of Nigeria (CBN), has lauded the Monetary Policy Committee (MPC) for cutting interest rate by 50 basis points. Okunrounmu gave the commendation in an interview with the News Agency of Nigeria (NAN) on Wednesday in Ota. He said that the MPC’s decision to lower the rates…
The Central Bank of Nigeria (CBN) says 20 Nigerian Banks have already met the new minimum capital requirement in the ongoing bank recapitalisation exercise. The Governor of the CBN, Mr Yemi Cardoso, made this known on Tuesday in Abuja while presenting the communiqué from the 304th meeting of the apex bank’s Monetary Policy (MPC). The…
