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Nigeria’s public debt hits N97trn – DMO
Nigeria’s public debt stock as at Dec. 31, 2023 was N97.341 trillion (108.229 billion dollars), according to data released by the Debt Management Office (DMO) on Friday in Abuja. The DMO said that the amount comprised domestic and external debt stocks of the Federal Government, the 36 states governments and…
Read More »New NIMASA DG, Dayo Mobereola promises purpose-driven organization
The newly appointed Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola says the agency’s management under his leadership will build a purpose driven organisation, while also prioritising effective communication at all levels to enhance innovation, collaboration and synergy. In his maiden address on his…
Read More »Tinubu is Creating Pathways for Businesses to Flourish – Minister
The Minister of Information and National Orientation, Mohammed Idris, has said the vision of President Tinubu is to create an enabling environment where businesses can thrive through streamlining regulations, investment incentives, provision of infrastructure, and robust policies aimed at fostering economic stability and prosperity. The Minister stated this in Kano…
Read More »NNPC Ltd Will Use Gas to Trigger Nigeria’s Industrialisation, Economic Devt. —EVP Upstream, Eyesan
The Nigerian National Petroleum Company (NNPC) Ltd has reiterated its commitment towards utilizing Nigeria’s abundant gas resources to trigger Nigeria’s industrialisation and economic development. NNPC Ltd’s Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan disclosed this during a Panel Session at the ongoing 2024 CERAWeek Conference in Houston, the United States…
Read More »CBN Clears all Valid FX backlog, as external reserves increase by $993 million
The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs have now been settled, fulfilling a key pledge of the CBN Governor, Mr. Olayemi Cardoso, to process an inherited backlog of US$7 billion in claims. This was disclosed by the Bank’s Acting Director, Corporate Communications, Mrs.…
Read More »Customs intercepts ammunition worth N500m in Ogun
The Nigeria Customs Service (NCS), Ogun Area 1 Command, said it intercepted 940 round of ammunition worth N557,120,828.00 concealed in sacks of garri (cassava flakes) at Idiroko axis of the state. The Area Controller, Mr Ahmadu Shuaibu, said this at a media conference on Friday in Idiroko, Ogun. Shuaibu said…
Read More »Nigeria: Company Income tax drops 35.4% to N1.13trn, VAT up 26.61% in Q4 2023
Nigeria’s aggregate Company Income Tax (CIT) for Q4 2023 dropped by 35.40 per cent to N1.13 trillion from N1.75 trillion recorded in Q3 2023, the National Bureau of Statistics (NBS) said. This is as the aggregate Value Added Tax (VAT) rose 26.61 per cent to N1.20 trillion from N948.07 billion…
Read More »Military frowns at late report of kidnapping incidents
The Defence Headquarters (DHQ) has lamented the none timely report of kidnapped incidents across the country, saying it has affected its search and rescue of victims. This is coming as the military confirmed that troops killed 213 terrorists and arrested 216 across the country. The Director, Defence Media Operations Major…
Read More »NNPC Ltd Solicits EFCC’s Support in Fight against Crude Oil Theft
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has appealed to the Economic and Financial Crimes Commission (EFCC) to help tackle the menace of crude oil theft in the country. The Group Chief Executive Officer of the company, Mr. Mele Kyari, made the appeal at an interactive session with the…
Read More »Nigeria: Reps to probe N200b spent on 2023 population census
Nigeria’s House of Representatives is set to probe the N200 billion spent on the suspended 2023 Population and Housing Census. This followed the adoption of a motion by Rep. Clement Akanni (PDP-Osun), during plenary in Abuja on Thursday. Moving the motion, Akanni said the immediate-past administration of former president Muhammadu…
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