Economy

Afreximbank Confirms Initial Disbursement of $2.25bn Under Syndicated $3.3bn  Crude Oil Prepayment Facility for Nigeria

African Export-Import Bank (Afreximbank) has successfully arranged a syndicated US$3.3 billion crude oil prepayment facility sponsored by the Nigerian National Petroleum Company Limited (NNPCL). An initial disbursement of US$2.25 billion has been made. A second tranche of US$1.05 billion is expected to be disbursed subsequently. This landmark financing is Nigeria’s largest crude oil prepayment facility […]

Read More
Economy

Dangote Petroleum Refinery Starts Production 

Dangote Petroleum Refinery has commenced production of diesel and aviation fuel. Meanwhile, an elated President of Dangote Group, Mr Aliko Dangote, has thanked President Bola Ahmed Tinubu for his support, encouragement, and thoughtful advice towards the actualisation of this project. Dangote also thanked the Nigerian National Petroleum Company Limited (NNPC Limited), the Nigerian Upstream Petroleum Regulatory […]

Read More
File photo of President Bola Tinubu.
 Economy

Tinubu Suspends National Social Investment Programme, Probes Activities

President Bola Ahmed Tinubu has suspended all administered programmes by the National Social Investment Programme Agency (NSIPA). Announcing the suspension in a statement on Friday, the Director Information, Secretary to the Government of the Federation, Segun Imohiosen, said the president’s decision was in view of the “ongoing investigation of alleged malfeasance in the management of […]

Read More
Dr Bosun Tijani
 StartUps

Nigeria Unveils Development in Government Initiative to Digitally Empower Civil Servants

Nigeria innovation today unveiled a new project designed to build digitally empower civil servant, the initiative would see the introduction digital innovation and technology into governance in all levels government. The Minister of Communication, Innovation and Digital, Dr Bosun Tijani who announced the project to on his verified X handle, said, “Today, we announce #DevsInGovernment, […]

Read More
Business

CBN Appoints New Executives for Union, Polaris, Keystone Banks

Hours after the dissolution of the Board and Management of Union Bank, Keystone Bank and Polaris Bank, the Central Bank of Nigeria (CBN), on Wednesday, appointed new executives to oversee the affairs of the three banks. The apex bank, in a statement by its spokesperson, Sidi Hakama, announced Yetunde Oni as the Managing Director and […]

Read More
President Bola Tinubu
 Economy

President Tinubu Battles Financial Profligacy in Governance, Slashes Travel Delegates by 60%

President Bola Tinubu has directed a major slash of travel delegations for all Federal Government official trips within and outside the country in a bid tackle financial profligacy in governance The Special Adviser on Media and Publicity, Ajuri Ngelale, disclosed this on Tuesday during a press briefing at the State House in Abuja. He said […]

Read More
Economy

Respite for Consumers as Dangote Refinery Set for Petroleum Products Production

Dangote Refinery appears set to commence production of refined petroleum products with the receipt of the sixth batch of barrels of crude supplied by the Nigeria National Petroleum Corporation Limited (NNPCL). The fresh one million Agbami barrels of crude via MT ALMI SUN is the last cargo to complete the initial scheduled 6 million barrels […]

Read More
President Bola Ahmed Tinubu
 Economy

President Tinubu Sacks CEOs of BPE and FCCPC Ahead of Economy-Restructuring

President Bola Tinubu has sacked the chief executives of the Federal Competition and the Consumer Protection Commission (FCCPC) and the Bureau of Public Enterprises (BPE). Presidential spokesman Ajuri Ngelale disclosed this in a late Monday statement, saying the dismissal of Babatunde Irukera as the FCCPC EVC/CEO and Alexander Ayoola Okoh of BPE is part of […]

Read More
Economy

PASSPORT AUTOMATION: Nigerians to Receive Passports by Courier at Home, Contact with Immigration Officers Ends 

The Nigerian Government plans are almost “ready” for the commencement of full contactless passport application and the delivery of the same to applicants via courier. “Starting March 8, Nigerians will no longer have to come to our offices for their biometric,” the Minister of Interior Olubunmi Tunji-Ojo said on Monday’s edition of Channels Television’s Politics […]

Read More
Business

Billions of Palliatives Fund in Private Accounts  Infuriates President Tinubu, Orders Minister’s Probe

The Minister of Information and National Orientation, Mohammed Idris, made this known in a statement on Sunday. Controversy had enveloped Edu’s alleged involvement in the approval of N585,198,500.00 to be disbursed into a personal account. In a letter allegedly signed by the humanitarian minister, she allegedly instructed the Accountant General of the Federation (AGF), Oluwatoyin […]

Read More