Local Business

Mixed reactions have trailed the confirmation by the International Monetary Fund (IMF) that the federal government has resumed the payment of subsidies on the premium motor spirit (PMS), otherwise known as petrol through the backdoor.

President Bola Ahmed Tinubu has sought Senate approval to borrow $8,699,168,559 and €100 million to execute critical projects in different sectors.

President Bola Tinubu has pulled the Federal Capital Territory Administration ( FCTA) out of the Treasury Single Account (TSA).

On Monday, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari said President Bola Tinubu’s administration has not reinstated fuel subsidy. This is despite the confirmation of oil marketers that the federal government has restored subsidies for premium motor spirit (PMS), also known as petrol. Tinubu had announced the removal of fuel subsidy …

By Dr. Samson R. Osagie On Tuesday 26th September, 2023, the Senate of the Federal Republic of Nigeria resumed plenary and began the screening of nominees of President Bola Ahmed Tinubu for the positions of Governor and Deputy Governors of the Central Bank of Nigeria (hereafter referred to as “CBN”) in line with Section 8 of the Central Bank Act, …

The presidency has apologised for a claim that President Bola Tinubu is the first African leader to ring the bell at the National Association of Securities Dealers Automated Quotations (NASDAQ). On Tuesday, shortly after performing the act, a statement released by Ajuri Ngelale, special adviser to the president on media and publicity, claimed Tinubu as the “first African president ever …

Governor Abba Kabir Yusuf of Kano State has faulted the mode that the federal government adopted for the distribution of N500 billion in palliatives for small-scale industries. The government had announced using the Bank of Industry to support small-scale industries across geopolitical zones. Speaking through his deputy, Comrade Aminu Abdussalam, the governor said the distribution was heavily skewed in favour …

President Bola Ahmed Tinubu has signed four Executive Orders in fidelity to the pledge to put Nigerians at the centre of government policies and address business unfriendly fiscal policy measures and multiplicity of taxes. The Special Adviser to the President on Special Duties, Communication, and Strategy, Mr. Dele Alake, disclosed this on Thursday while briefing State House reporters at the …

The 14th Emir of Kano and former Governor of the Central Bank of Nigeria (CBN), Alhaji Muhammadu Sanusi, has asked Nigerians to support the cashless policy. In a social media post on Monday, Sanusi urged people to be careful and not fall for the manipulation of politicians. He added that the policy was not new, saying it has been in …

The Central Bank of Nigeria (CBN) Friday refuted media reports that it had authorised the Deposit Money Banks (DMBs) to collect the old N500 and N1,000 banknotes from customers and members of the public. CBN Director, Corporate Communications Department, Mr. Osita Nwanisobi, disclosed this in a statement. He said, “The attention of the Central Bank of Nigeria has been drawn …