Nigeria has lost its Africa’s top oil producer status to Libya as its crude oil production fell further last month amid lingering supply disruptions, according to a new report by the Organization of the Petroleum Exporting Countries. Nigeria told OPEC that its oil output fell to about 1.23 million barrels per day in October from…
Kuda Bank has warned its customers that it will close accounts found to be engaged in the transaction of cryptocurrency. The bank stated that it can’t facilitate cryptocurrency transactions because it violates the policy of the Central Bank of Nigeria which regulates all financial institutions in the country. Kuda Bank’s statement follows multiple complaints on…
Vice-President Yemi Osinbajo says majority of the revenue flowing into the nation’s treasury is generated from non-oil exports. Osinbajo said this on Thursday at the 51st annual international conference of the Nigerian Society of Chemical Engineers (NSChE) in Lagos. Represented by Ogbonnaya Onu, minister of science, technology and innovation, Osinbajo said that the federal government…
…as LCCI commends its impact Dangote Industries Limited has restated its commitment to contributing to significant reduction in the number of unemployed Nigerians even as the Lagos Chamber of Commerce & Industry lauded the indigenous conglomerate spread across Africa. Speaking at the Dangote Special Day, at the on-going 2021 Lagos International Trade Fair, Group Executive…
A cement refinery in Ethiopia belonging to Dangote Group risks being damaged in the ongoing conflict by Tigray rebels and its allies against the Ethiopian government and its allies. The speculation is noted in a report by MoneyCentral, as the rebels have captured cities around Addis Ababa and continue to advance on the capital. “The…
The Federal Government has said the suspension of Twitter has not been lifted because the company has met 10 out of the 12 conditions given it. The government however raised the hope of Nigerians that it is a matter of time before all issues with Twitter are resolved. But it clarified that the suspension of…
The 36 states and the Federal Capital Territory generated N849.123bn as Internally Generated Revenue (IGR) in 2021 compared to N612.87bn in 2020. A report by the National Bureau of Statistics (NBS) yesterday disclosed that N398 billion was generated in the first quarter of 2021 and N450bn in the second quarter, making a positive growth of…
The Nigerian National Petroleum Corporation (NNPC) says it recorded a revenue deficit of N1.29 trillion from January to September this year. This is according to NNPC’s September presentation to the Federation Account Allocation Committee (FAAC). In 2021, the state oil company had forecasted a monthly revenue of N414.9 billion, resulting in a trajectory of N4.979…
Trust Africa News, By Ayomide Otitoloju and Ayomide Onatoye One of the leading food company in Nigeria, Dasda Food is selling its food items at a pocket friendly price at the ongoing Internation Trade Fair in Lagos. investigation conducted by Trust Africa News revealed that Dasda stand is one of the food stand that has…
