Business

SECOND ANNIVERSARY: ECONOMISTS RATE NIGERIAN ECONOMY UNDER TINUBU Ahead of the President Bola Ahmed Tinubu administration’s second anniversary on May 29th, 2025, economists and financial analysts have rated the ‘Renewed Hope’ government low in improved cost of living for the majority of Nigerians. The Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Muda Yusuf, and the …

FG DIRECTS AMCON TO BEGIN SHUTDOWN PROCESS The Federal Government has inaugurated a new Board of Directors for the Asset Management Corporation of Nigeria, with a directive to strengthen asset recovery and commence a credible, time-bound wind-down of the Corporation. According to a statement by the Director of Information and Public Relations at the Federal Ministry of Finance, Mr Mohammed …

NNPCL ANNOUNCES PORT HARCOURT REFINERY SHUTDOWN The Nigerian National Petroleum Company Limited (NNPC Ltd) on Saturday announced a scheduled maintenance shutdown of the Port Harcourt Refining Company (PHRC), beginning on May 24, 2025. This was contained in a statement by the Chief Corporate Communications Officer, Femi Soneye. Soneye stated that the shutdown is part of a planned maintenance and sustainability …

MARKETERS KICK AS PORT HARCOURT REFINERY FACES Shutdown For MAINTENANCE The Port Harcourt Refining Company will be shut down any time soon to undergo a maintenance exercise that could last for 30 days, Saturday PUNCH reports. Some retailers told our correspondent that the facility was shut down on Thursday night, but the Nigerian National Petroleum Company Limited said the plant …

NIGERIA FINALLY RESCUED FROM $11BN P&ID SCAM – LEGAL TEAM LEADER CLARIFIES The Federal Government on Thursday evening revealed how Nigeria was saved from an $11 billion investment scam engineered by Process and Industrial Developments Limited (P&ID), describing the landmark victory in a United Kingdom court as a turning point in the fight against corruption and economic sabotage.The National Coordinator …

I NEVER SOUGHT AUDIENCE WITH TINUBU OVER FIDELITY BANK – PETER OBI It’s obvious that the biggest business for blackmailers now is talking about Peter Obi from every negative perspective. Even my solemn spiritual trip to Rome has been twisted into yet another blackmail campaign by merchants paid ostensibly to propagate anything negative against Obi. One such individual, whose entire …

INCLUDE ENUGU STATE IN 13% OIL REVENUE SHARE, GOV MBAH TELLS FG Governor of Enugu State, Dr. Peter Mbah, has tasked the Federal Government on the inclusion of the state in the disbursement of 13 per cent oil revenue share, in line with the Derivation Principle as provided for in the 1999 Constitution, as amended. He made the call when …

NATIONAL ASSEMBLY INSERTED 11,122 PROJECTS WORTH N6.93BN IN 2025 BUDGET – BUDGIT BudgIT on Monday said its findings revealed that the National Assembly inserted 11,122 projects worth N6.93 trillion into the 2025 budget. BudgIT, a civic tech organization focused on public finance transparency, said the development has once again raised serious concerns about political manipulation and fiscal abuse. “We have …

CONFUSION OVER PROBE OF FORMER NNPCL GMD, KYARI There is palpable confusion over the probe of Mele Kyari, the former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited. This comes amid the mixed reactions that have continued to trail the call for Kyari’s probe. On its part, the Coalition of Civil Society Groups said the protests in …

ENUGU, KEBBI, NIGER MOST EXPENSIVE STATES tYo LIVE IN NIGERIA — NBS Enugu, Kebbi, and Niger States have been identified as the most expensive states to live in in Nigeria. The National Bureau of Statistics, NBS, disclosed this in its April Consumer Price Index, CPI, released on Thursday. According to April’s CPI, Enugu State has the highest headline inflation on …