Gas constraints disrupt national grid, trigger massive load shedding
Nigeria’s power generation has dropped to an average of 4,300 megawatts (MW) due to inadequate gas supply to thermal power plants, the Nigerian Independent System Operator (NISO) has announced. In…
Tinubu extends ban on raw shea nut export by one year
President Bola Tinubu has approved a one-year extension of the ban on the export of raw shea nuts, reinforcing his administration’s push for local processing and value addition in the…
Anambra shuts Nnewi market for one week over sit-at-home
The Anambra State Government has ordered the temporary closure of the New Auto Spare Parts Association (NASPA) Market at Nkwo Nnewi over continued compliance with the Monday sit-at-home directive in…
Budget Office defends executive order 9, says it upholds constitutional revenue rules
The Federal Government has defended Executive Order 9 (EO9), dismissing claims that it amounts to executive lawmaking, and insisting that the directive merely enforces existing constitutional provisions on the custody…
Dangote to open refinery shares to Nigerians within five months
Aliko Dangote, President and Chief Executive Officer of the Dangote Group, has announced that Nigerians will be able to purchase shares directly in the Dangote Refinery within the next four…
USSD crisis ends as banks clear ₦300bn debt to telcos
Commercial banks and telecommunications operators have finally resolved their prolonged dispute over unpaid Unstructured Supplementary Service Data (USSD) charges, with nearly N300 billion in accumulated debt now fully settled. The…
‘An aberration’: PENGASSAN urges Tinubu to withdraw oil revenue executive order
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on President to rescind the recent executive order directing the direct remittance of oil and gas revenues…
Senate challenges Tinubu’s economic team over low capital releases
The Senate on Thursday took the Federal Government’s economic team to task over what it described as persistent poor budget implementation, particularly the inadequate release of capital funds to ministries,…
Nigeria’s FX reserves hit $48.5bn, highest level since 2013
Nigeria’s foreign exchange (FX) reserves have climbed to $48.5 billion, marking the highest level recorded in nearly 13 years. Data obtained from the Central Bank of Nigeria (CBN) show that…
Breaking: Tinubu orders direct remittance of oil, gas revenues to federation account
President Bola Tinubu has signed an Executive Order mandating the direct remittance of oil and gas revenues to the Federation Account, in a move aimed at boosting national revenue, curbing…
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