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The African Development Bank Group has approved a 200 million dollar financing facility for the Bank of Industry to support private sector productivity across Nigeria. The sovereign-guaranteed loan provides medium- and long-term capital for local enterprises looking to expand operations. The credit injection targets critical domestic sectors, including transport infrastructure, agro-food processing, pharmaceuticals, and green…
President Bola Tinubu has condemned the killing of an educator during a coordinated raid on schools in the Esiele community of Oyo State, labelling the act barbaric. Gunmen riding motorcycles invaded three education centres in the Oriire Local Government Area last Friday, abducting an unknown number of pupils, students, and academic staff. The Presidency confirmed…
The Federal Government has unveiled an online mediation platform to handle rising disputes between citizens and revenue agencies without charge. Minister of Finance Taiwo Oyedele launched the digital portal, toll-free call centre, and case management system for the Office of the Tax Ombud yesterday in Abuja. The newly established agency will act as an independent…
The Industrial Training Fund is investing 3.6 billion Naira into business incubation and capacity building to standardise informal labour. The state agency has commenced a pilot testing phase in Abuja to move domestic workers away from unverified training documents. Under its Skill-Up Artisans programme, the fund is introducing international certification examinations in partnership with an…
The Dangote Petroleum Refinery has reduced the price of its aviation fuel to 1,650 Naira per litre from 1,750 Naira. The 100 Naira reduction follows a series of state-led interventions designed to prevent the grounding of domestic flight operations. Alongside the price cut, the refinery has introduced a 30-day interest-free credit facility for registered oil…
The Nigeria Centre for Disease Control and Prevention has activated emergency border surveillance following an Ebola outbreak in Central Africa. Health officials confirmed that while Nigeria has no recorded cases, the rapid international spread of the virus requires immediate defensive measures. The containment drive follows the decision by the World Health Organisation to declare the…
Diaspora remittances into Nigeria flattened at 21.8 billion dollars last year as global economic headwinds slowed the growth of offshore funding. Data from the Central Bank of Nigeria’s latest quarterly statistical bulletin reveals a negligible drop from the 21.811 billion dollars recorded the previous year. This stagnation follows a period of rapid expansion, during which…
Arsenal moved five points clear at the top of the Premier League table after grinding out a 1-0 victory over Burnley at the Emirates Stadium. A first-half header from German midfielder Kai Havertz secured the vital three points for Mikel Arteta’s side in their penultimate game of the domestic campaign. The North London club can…
Mr Peter Obi has emerged as the sole presidential aspirant for the Nigeria Democratic Congress after the party closed the sale of its executive nomination forms. Party officials confirmed that the former Anambra State governor was the only candidate to buy the presidential expression of interest form before the Sunday deadline. The development clears the…
The Naira fell to 1,395 against the American dollar in the parallel market yesterday as foreign exchange supply pressures returned. The local currency slid from the 1,390 rate recorded last weekend. This drop matches a similar decline in the official Nigerian Foreign Exchange Market, where the currency closed at 1,373.5 per dollar. Central Bank of…
