16 May 2022
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Ruble Up Against Dollar, Euro As Foreign Currency Trading Starts On Moscow Exchange

The ruble strengthened against the dollar and the euro as foreign currency trading started on Moscow Exchange on Monday compared with previous closing. As of 10:20 am Moscow time, the dollar exchange rate was down by 1.29% at 63.71 rubles, while the ......

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Ikpeazu Orders Closure Of Scrap Markets In Abia Central, North, Sets Up Enforcement Committee

Abia State Governor, Dr Okezie Ikpeazu, has directed the closure of all scrap and waste markets in both Abia Central and Abia North senatorial zones of the state with immediate effect, till further notice. He had earlier instructed that similar marke......

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FG Says Abuja-Kaduna Train Operations To Commence Soon As Repair Of Bombed Rail Track Concluded

The Federal Government says it has completed repair of the damaged track on the Abuja-Kaduna rail line. Engr. Fidet Okhiria, Managing Director of the Nigerian Railway Corporation (NRC), disclosed this in a statement on Thursday. In the statement, whi......

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Elon Musk Buys Twitter

Twitter said Monday it has agreed to sell itself to Elon Musk, who will take the company private in a deal valued at around $44 billion. The deal caps off a whirlwind news cycle in which the Tesla and SpaceX CEO became one of Twitter's largest shareh......

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Buhari Will Commission My Refinery Before End Of His Tenure — Dangote

Chairman of the Dangote Group, Alhaji Aliko Dangote, has assured that the Dangote Refinery will be ready for commissioning before the end of President Muhammadu Buhari administration in 2023. He gave the assurance Friday while fielding questions from......

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Over 5,000 Debtors Owe FG N5.2trn, Says Finance Minister

Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed has said the Federal Government will enforce the recovery of N5.2 trillion debt owed by over 5,000 debtors through various Ministr......

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FG Set To Give 98,000 Nigerians Interest-Free Loans — Umar-Farouq

The Federal Government says it has concluded plans to give interest-free loans to 98,000 beneficiaries of its Government Enterprise and Empowerment Programme 2.0 nationwide. The Minister of Humanitari......

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After FG, Dangote Largest Employer Of Labour Says Buhari As He Launches $2.5bn Dangote Fertiliser Plant

President Muhammadu Buhari on Tuesday said Dangote Group is the second-largest employer of labour in Nigeria, after the federal government. He said this in Lagos, when he commissioned the 3 million metric tonnes capacity Dangote Fertiliser plant built at a cost of $2.5 billion. The plant w...

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Minister Summons Stakeholders Over Nationwide Epileptic Power Supply, Vows To Improve Situation

The Minister of Power Engr. Abubakar D. Aliyu is holding an emergency meeting with all the stakeholders in the power sector to address the current low power generation which has caused epileptic power supply across the country. The minister warns that stakeholders must work together to make electric...

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BUA Chairman, Alhaji Abdulsamad Vows Not To Increase Products’ Price During Ramadan

The Chairman, BUA Group of Companies, Alhaji Abdulsamad Isyaku Rabiu, has promised Nigerians that the company will not increase the price of its products now or during the upcoming Ramadan period. BUA’s representative in the northern region, Alhaji Muhammadu Adakawa, disclosed this during a...

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Price Of Bread To Rise In Nigeria As Russian-Ukrainian Face Off Continues

The price of bread, one of the most commonly eaten staples in most Nigerian homes is set to rise if the current Russian-Ukrainian war persists. Russia is the world’s largest exporter of wheat, accounting for more than 18 per cent of international exports. The downside to the war is that ...

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300,000 N-Power Beneficiaries To Get CBN Loan — FG

The Federal Government, on Thursday, said that there was an exit programme for about300,000 N-Power beneficiaries to get loans from the Central Bank of Nigeria, CBN. The Minister of Human Affairs, Disaster Management and Social Development, Hajia Sadiya Umar Farouk, made the revelation during...

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NNPC Says It Rejected 5 Cargoes Containing Substandard Petrol

The Nigerian National Petroleum Company Limited, on Wednesday, disclosed how five cargoes containing ethanol-laden Premium Motor Spirit (petrol) were rejected after discovering that the first was substandard. The Group Managing Director of the NNPC, Melee Kyari, also disclosed that the compan...

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NNPC Apologises To Nigerians Over Pains Caused By Contaminated Fuel

Nigerian National Petroleum Company Limited has said it regrets the hardships it caused Nigerians by the importation of off-spec Premium Motor Spirit, known as petrol. The Group Managing Director of t......

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We Will Normalize Distribution Of PMS, Inject 2.1bn Liters By Month End – NNPC GMD

Group Managing Director, GMD of the Nigerian National Petroleum Corporation NNPC, Mr. Mele Kyari has said that distribution of Premium Motor Spirit, PMS, otherwise called petrol will normalize in the weeks ahead. The GMD also said that before the end of the month, about 2.1 billion liters of ...

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FG Earmarks N2.55tr For Subsidy In Supplementary Budget

President Muhammadu Buhari has earmarked N2.55trillion for fuel subsidy in the 2022 Supplementary Appropriation Bill transmitted to the National Assembly for consideration and approval. The Federal Government had informed the subsidy regime will end in June 2022. Fuel queues appeared since...

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Fuel Sells For N400/litre In Abuja, Others, Scarcity Persists In Lagos

Residents of Abuja and neighbouring states of Niger and Nasarawa are still facing tough times sourcing for Premium Motor Spirit, popularly called petrol, with the commodity selling for as high as N400......

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