Business

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 …

NCC, TELECOM PROVIDERS PUNISHING US – MOBILE USERS, RAISE ALARM Nigerians, particularly northerners are reeling in anguish following the recent hike in telecom tariffs. Recall that the Nigerian Communications Commission, NCC, has recently approved 50 percent tariffs increment for service providers amid nationwide hardship. This development has continued to attract condemnation among Nigerians, especially some northerners whose businesses depend on …

NIGERIA’S ECONOMY GROWS STRONGLY AMID HIGH INFLATION — WORLD BANK The World Bank has said that Nigeria’s economy recorded its fastest growth in about a decade in 2024, driven by a strong fourth quarter and an improved fiscal position. During a presentation on Monday, the bank’s lead economist for Nigeria, Alex Sienaert, said Nigeria’s economy grew by 4.6% year-on-year in …

DANGOTE REFINERY REDUCES PETROL PRICE TO N825 PER LITRE Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit, PMS, also known as petrol to N825 per litre from N835 per litre as competition continues in the domestic market. Recall that last month, the 650,000 barrels per day refinery reduced the gantry price of petrol to N835 per …

NO GOING BACK ON NAIRA-FOR-CRUDE IMPLEMENTATION –FG Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reiterated that the Technical Sub-Committee on the Crude and Refined Product Sales in Naira is proceeding with the implementation of the federal government’s initiative to conduct crude oil and refined product transactions in naira. The arrangement is part of President …

NNPCL, DANGOTE MEET: PLAN FUEL PRICE DROP Details of the meeting between President of Dangote Refinery, Aliko Dangote, and Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr. Bashir Bayo Ojulari, showed that the duo plan to boost Nigeria’s oil and gas downstream sector and further premium motor spirit price reduction in the coming days. NNPCL disclosed …

NIGERIA STILL OWES IMF ₦190 BILLION – REPORTS‘The International Monetary Fund (IMF) announced that Nigeria has completely settled the $3.4 billion in COVID-19 financial assistance received through the Rapid Financing Instrument (RFI). However, the government still owes approximately $30 million to the multilateral organisation for Special Drawing Rights (SDR) charges. This $30 million, equivalent to ₦48.2 billion, will be paid …

BILL GATES TO SHUT FOUNDATION IN 2045 AFTER DONATING 99% of FORTUNE Bill Gates announced on Thursday that the Bill & Melinda Gates Foundation will officially shut down by the end of 2045—decades earlier than originally planned—as he reiterated his pledge to donate nearly all of his remaining fortune to the foundation’s work. Established in 2000, the Gates Foundation will …