Business
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FAAC Distributes N1.2 Trillion to FG, States, and LGAs in May 2024
The Federation Accounts Allocation Committee (FAAC) has announced the distribution of N1.208 trillion to the Federal Government, States, and Local Government Councils for May 2024, based on revenue generated in April. This marks an increase from … Continue Reading
Emirates Airlines Announces Resumption of Lagos-Dubai Flights
Emirates Airlines has revealed plans to resume flight operations between Lagos and Dubai starting from October 1, 2024.
The airline intends to operate a daily service utilizing the Boeing 777-300ER aircraft, reconnecting both leisure and business travellers to … Continue Reading
Enugu State Government Strikes N100bn Deal for Palm Plantation Revitalization and Five-Star Hotel Construction
The Enugu State Government has greenlit a N100 billion deal with Pragmatic Palms Limited for the rejuvenation of the defunct Enugu State United Palm Products Limited.
Additionally, plans are underway for the construction of a 380-room five-star hotel at the … Continue Reading
Cross River Secures $3.5 Billion Funding for Bakassi Deep Seaport Project
The Cross River State government has achieved a significant milestone in its infrastructure development plans with the securing of a $3.5 billion funding package from the Pan-African multilateral financial institution, African Export-import Bank (Afreximbank).
This funding is earmarked … Continue Reading
NNPC E&P Ltd, NOSL Launch Oil Production in Akwa Ibom State
NNPC Exploration and Production Limited (NNPC E&P Ltd.) and Natural Oilfield Services Ltd. (NOSL) have commenced oil production at Oil Mining Lease (OML) 13 in Akwa Ibom State.
According to Olufemi Soneye, Chief Corporate Communications Officer of NNPC … Continue Reading
Nigeria Customs and China Sign MoU to Boost Economic Growth
The Nigeria Customs Service (NCS) has inked a Memorandum of Understanding (MoU) with the General Administration of Customs of the People’s Republic of China.
The agreement, signed by the Comptroller-General of the NCS, Adewale Adeniyi, during a … Continue Reading
Tinubu Orders Suspension of Cybersecurity Levy Implementation, Calls for Review
President Bola Tinubu has directed the Central Bank of Nigeria (CBN) to halt the enforcement of the contentious cybersecurity levy policy and to conduct a thorough review.
This move comes in response to the House of Representatives’ call … Continue Reading
Cooking Gas Prices Surge by 55% in Nigeria
Today, May 11, 2024, marks a significant increase in the cost of cooking gas in Nigeria, as reported by the National Bureau of Statistics (NBS).
According to the latest March Cooking Gas Price Watch, the average price for … Continue Reading
TotalEnergies Launches 2024 Startupper Challenge, Targeting 100 African Startups
TotalEnergies Nigeria has officially kicked off the 2024 edition of its highly anticipated Startupper challenge, aiming to bolster entrepreneurship across Nigeria and the broader African continent.
The virtual launch event, graced by TotalEnergies Nigeria’s Managing Director, Mr. Matthieu Bouyer, alongside … Continue Reading
IMF Urges Nigeria to Regulate Cryptocurrency Trading Platforms
In its latest staff report released on Thursday, the International Monetary Fund (IMF) has advised Nigeria to implement regulations requiring global cryptocurrency trading platforms to register or obtain licenses to operate within the country. This recommendation comes after … Continue Reading