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Serious hitches in the production of oil in Nigeria, as well as Libya and Ecuador this week, hiked the price of oil globally to $80 per barrel.This was due to maintenance issues and oilfield shutdowns. Apart from Nigeria, other oil producers including Ecuador and Libya also declared forces majeures this month on part of their…
In a move that sent shocking waves across the business world, one of the new financial institutions in the country, Titan Trust Bank, established barely two years ago, has taken over one of the old generation banks, Union Bank of Nigeria Plc. A bank that is 104 years old. Only First Bank is older. Union…
In a renewed determination to reduce carbon emission by 50% come 2050, the Nigerian Government has launched a Deep Decarbonization Pathway Programme (DDPP). The effort is to meet the eventual goal of net-zero carbon emission levels. DPP is a national research and capacity-building project for the implementation of a Deep Decarbonization Pathway Programme (DDPP) in…
The Nigerian Civil Aviation Authority (NCAA) has explained why the country’s airspace may be closed sometimes this Harmattan period and flight operations disrupted. Director General of the NCAA, Capt Musa Nuhu in a directive titled “NCAA :‘Aviation Weather in Dry Season” which he personally signed, informed pilots that, as a result of the seasonal climate prediction…
Over N300m Generated from Abuja-Kaduna Train Service monthly -Amaechi By Ime Okon The Nigerian Government is generating over N300 million from the Abuja-Kaduna train service every month. The Minister of Transportation, Rotimi Amaechi, made this known while speaking as a guest on a television programme in Abuja. The minister also revealed that the operation of…
The Director-General of the National Youth Service Corps (NYSC) Brigadier-general Shuaibu Ibrahim says the scheme, for the first time, remitted over N1 billion into the federation account between 2020 and 2021. Ibrahim said the money was sourced from different business initiatives established by the NYSC. He disclosed this recently when Nigeria’s Permanent Representative to the United…
It was a year of outstanding achievements by Africa-based tech start-ups as more than $2.9 billion was raised in 2021. Nigerian start-ups which are creating new products, services, and platforms raised the bulk of this handsome figure, as they raised over $1.7 billion of this total or about 60% of it, a recent study has…
The Nigeria Labour Congress (NLC), has again criticised Federal Government policy on fuel importation, reiterating its readiness to shut down economic activities in the country if the government insist on increasing the price of PMS next year as speculated. NLC also called on the Federal Ministry of Health to ensure that the amount agreed on…
President Muhammadu Buhari’s regime says it is seeking to borrow an additional N250 billion through the Sukuk bond as Nigeria’s debt burden rises to N38 trillion.Specifically, the Debt Management Office (DMO) announced in a statement on its website the regime had offered for subscription N250 billion road Sukuk instrument for N1,000 per unit, indicating that…
Nigeria was placed on the 7th position on the Africa Visa Openness Index Report jointly released by the African Development Bank and the African Union Commission this week. Nigeria came in 7th place with a score of 0.864 points ahead of Uganda, Guinea-Bissau, Cabo Verde, Togo, Mauritania, Mauritius, Mozambique, and others.The report measures the ease…