The Federal Government’s total debt stock may experience a significant increase from N87.3tn (as of December 2023) to N111.4tn, following fresh borrowings in the first quarter of 2024. According to an analysis by media source, the Federal Government borrowed over N7tn …

Lucky Amiwero, President of National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), and the Managing Director, Eyis Resources Limited Lack of legal framework and economic regulation in the port reform of 2006 has created various bottlenecks and hindrances …

David Umahi The Minister of Works, David Umahi, has said the government is constructing the Lagos-Calabar coastal highway at a total cost of N4bn per kilometre and not the N8bn per km reportedly claimed by former Vice President Atiku Abubakar. …

Nigeria is set to receive a $1.05bn syndicated loan backed by oil from the African Import Export Bank next month. The loan is part of a larger $3.3bn prepayment facility arranged by Afreximbank, with repayment terms tied to crude cargoes …

The House of Representatives will intervene in the recent increase in electricity tariffs by the Nigerian Electricity Regulatory Commission upon its resumption on April 23, 2024, Deputy Speaker, Benjamin Kalu has said. Speaking virtually on the special edition of “Ben …

The Economic and Financial Crimes Commission is probing 50 bank accounts as it recovered  N30bn in the alleged scandals in the Ministry of Humanitarian Affairs and Poverty Alleviation. The EFCC Chairman, Ola Olukoyede, who disclosed this in an interview published …

The Central Bank of Nigeria on Monday stepped up its fight to boost foreign exchange liquidity in the economy with a new circular mandating Deposit Money Banks to stop the use of foreign currencies as collateral for naira loans within …

The Federal Government is to launch three new national identity cards in May this year and has a target of providing them for about 104 million citizens across the country. The three new national identity cards planned by the National …

Popular Nigerian comedian, Ayo Makun, popularly known as AY, and his wife, Mabel, have separated after 20 years of “friendship/marriage”. The comedian confirmed the development in a post on his Instagram page on Sunday. He said he had reached a …

The Spanish Ambassador to Nigeria,Ambassador Juan Ignacio Sell has declared that the Spanish Government is desirous to deepen cooperation with Nigeria through further collaboration with the Nigerian Maritime Administration and Safety Agency, NIMASA. Ambassador Juan made this declaration while inspecting the two …

Compt. Timi Bomodi Seme and Idiroko borders have been a subject of international politics and economic diplomacy in the hands of fiscal authorities in Nigeria superintended by any sitting president. They are gate -ways to key  West African countries’ market. …

The Nigerian Electricity Regulatory Commission on Wednesday approved an increase in electricity tariffs for customers under the Band A classification. The Vice Chairman, NERC, Musliu Oseni, said the increase will see the customers paying N225 kilowatt per hour (KW/h) from the …

The Federal Government has announced plans to initiate the issuance of domestic bonds denominated in foreign currency in the second quarter of this year, precisely in the month of June. According to a Reuters report, the Minister of Finance and …

Stock investors lost N252bn as the Nigerian Exchange sustained its bearish trading on Thursday. The market lost about N467bn between Tuesday, when it resumed after the Easter holidays and  Thursday. The bearish trend on the local bourse followed the announcement …

The African Development Bank has signed a $75m loan agreement with Nigeria’s Indorama Eleme Fertiliser and Chemicals Limited. The bank announced this in a statement issued on its website on Thursday. According to AfDB, the loan will enable Indorama to …

Lekki Port The Lekki Deep Seaport LFTZ Enterprises Limited has disclosed that the port received 75 vessels, including the first LNG-powered vessel and the largest ship to enter Nigerian water measuring 366 LOA and handled 100, 000 containers between April …

Clearing agents under the Africa Association of Professional Freight Forwarders and Logistics of Nigeria have rejected the new haulage rates for Eastern seaports approved by the Nigerian Shippers’ Council. In a recent statement, the National President of APFFLON, Frank Ogunojemite, …

The naira, on Wednesday continued its gain against the United States dollars, appreciating both at the official foreign exchange and parallel markets, to the delight of many Nigerians. At the Nigerian Autonomous Foreign Exchange Market, the naira gained N16 or …

Air Peace, a Nigerian airline, has announced an increase in capacity for its Lagos-London route in response to surging demands. This was disclosed via the airline’s official Facebook account on Wednesday. With more seats now available, travellers interested in flying …

From right : Executive Secretary/CEO, Nigerian Shippers’ Council(NSC)Barr. Pius Akutah and the Chairman of Nigerian Ports Consultative Council( NPCC) during a courtesy visit by the latter to the Council’s headquarters in Lagos, last week. The Nigerian Port Consultative Council (NPCC), …