The Debt Management Office (DMO) says Nigeria’s total public debt stock hit N121.67 trillion (91.46 billion dollars) in March. The Director-General of the DMO, Patience Oniha, made this known in a statement on Friday in Abuja. Oniha said that the debt stock comprised the total external and domestic debts of the Federal Government, the 36…
The Federal Government has begun the proposed audit of the N2.7tn fuel subsidy claim by the Nigerian National Petroleum Company Limited, according to a report by The PUNCH. An audit firm, KPMG had conducted an initial audit reducing the claims from N6tn to N2.7tn. However, in the new audit, the government said it had approved…
A recent incident involving an “unknown aircraft” flying over the Presidential Villa in Abuja has been identified as a Max Air flight. Trust News Africa gathered that the aircraft, which sparked panic among government officials in the capital, was flying from Kano to Abuja. “The airline mentioned in this memo was Max Air flying into…
● governor emphasizes the nexus between effective leadership and business-friendly environment… The management of Nigeria’s leading domestic gas infrastructure development, gas liquefaction and distribution company, Greenville LNG, paid a courtesy call on the Kaduna State Governor, Senator Uba Sani, last Friday. The Greenville LNG delegation to the meeting with the Governor was led by the…
Nigeria cannot have real development without a sustainable industrial growth and manufacturing capacity which is the solution to poverty, unemployment and insecurity. No doubt having an industrial goods production base and or a competitive industrial economy is the only remedy to Nigeria’s dependence on importation of goods, technologies and services from other nations. What is…
Last week, Guinness Nigeria Plc announced that Tolaram Group acquired 58.02 percent of shareholding divested by Diageo, its ultimate parent company, in a deal which is expected to be finalised in 2025. President Bola Tinubu had commended Tolaram Group for the expression of faith in Nigeria through the acquisition in a statement issued by his…
There is disquiet among the staff members and management of the Nigeria Civil Aviation Authority as well as in the Ministry of Aviation and Aerospace Development over the decision of who becomes the substantive director-general of the aviation regulatory agency. There has been tension within the NCAA over the past six months, due to a…
Investors in modular refineries have commenced discussions with the African Export-Import Bank in a bid to access part of the $18billion fund being planned by the bank for the development of refineries in Nigeria and other African countries. Operators in the modular refining space confirmed that this was following the successful financial assistance rendered by…
A recent survey commissioned by the Independent Project Monitoring Company (IPC) Limited has ranked Fidelity Bank PLC fourth out of 29 Nigerian banks in Environmental, Social and Governance (ESG) practices and reporting. The bank achieved a score of 57.73%. The result shows that ahead of Fidelity Bank, Zenith Bank was ranked first at 65.22%, followed…
