Nigeria’s Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, has assured oil and gas players that pump prices of fuel shall continue to be determined by the forces of demand and supply as is the practice is a deregulated market environment. The minister spoke at the Petroleum Industry Stakeholders Forum Meeting in Abuja, which brought…
Continental lender, the African Export-Import Bank (Afreximbank), has unveiled plans to provide aircraft financing support to Nigerian carriers as part of measures to improve their capacity. This was announced during a side meeting held with the Afreximbank team at the ongoing Aviation Economic Conference in Dublin, Republic of Ireland. The meeting, facilitated by Boeing’s Senior…
A year after an eyewatering slide against the dollar, the naira is enjoying a rare run of stability, and analysts expect it to last. Nigeria’s battered currency has lost 70per cent against the greenback since foreign exchange controls were relaxed in 2023, including a steep depreciation 12 months ago. But its performance since December tells…
The Federal Government has intensified efforts to address irregularities in the nation’s food export system while unlocking the healthcare value chain for effective transformation. This strategic move results from collaboration between the Ministry of Industry, Trade and Investment, and the Ministry of Health and Social Welfare, aimed at bolstering President Bola Tinubu’s economic agenda. Speaking…
The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, has reiterated that the Federal Government would not allow telecoms companies to increase tariff by 100 per cent. For some years now, the telecoms companies have been asking for increase in tariff, citing rising operational cost, inflation and naira devaluation among others. Tijani, who was…
The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has urged global financiers to invest in the concession of Murtala Muhammed International Airport, Lagos, and Nnamdi Azikiwe International Airport, Abuja. The minister was speaking at the Airline Economics Growth Frontiers Global in Dublin, Ireland. Keyamo emphasised that the Federal Government has implemented streamlined policies…
The Minister of State for Industry, Sen. John Uwan-Enoh, has said the politicisation of the cocoa industry has led to the under-development of the sector. Uwan-Enoh said in an interview with newsmen in Calabar on Monday, that the cocoa industry had remained under-developed despite the abundance of the cash crop. Talking about the case of…
In December 2024, Nigeria met the crude oil production quota of the Organization of Petroleum Exporting Countries (OPEC) by 98.97 per. The cartel’s average daily quota for the month under review was 1.5million barrels per (mb/d) of crude oil. However, the country’s output was 1.48mb/d of crude oil, 49,276bpd of blended condensed, and 133,699 unblended…
The Federal Government has started the implementation of the 20 per cent increment in pensioners monthly take-home under the Defined Benefit Scheme (DBS), according to retirees’ welfare group, Nigeria Union of Pensioners (NUP). The union hailed President Bola Tinubu for the increment and the introduction of a minimum pension of ₦32,000 for retirees. The 20…
