Long queues surfaced in Lagos on Wednesday as motorists spent hours at filling stations while waiting to buy the product. The situation was worse in Ikosi-Ketu, Arepo area of New Lagos, Obalende, Maryland and Iju-shaga in Lagos State. Commuters lamented the hike in prices of transportation fares in the state[Read More…]
Author: Godwin Anyebe
NEITI says Nigeria’s Oil And Revenue Now $742.48bn
The Nigeria Extractive Industries Transparency Initiative (NEITI) has said the Federal Government has earned $741.48billion revenue from the oil and gas sector. The earnings, according to the Executive Secretary Dr. Orji Ogbonnaya Orji, do not include the ones of 2021. He revealed that the 2021 oil and gas audit is[Read More…]
Nigeria Loses $2bn To Oil Theft In Eight Months
The ad-hoc committee set up by the Senate to investigate oil theft and consequent damage on the nation’s economy said recently that Nigeria lost $2 billion, equivalent to N1.3trillion, to oil theft between January and August this year. The Senate on April 14, 2022, constituted a 13- member Ad –[Read More…]
CBN Says 36 million Nigerians Lack Access To Financial Services
The Director of Information Technology at the Central Bank of Nigeria, Rakiyat Mohammed, has said that about 36 million Nigerians currently have zero access to financial services. Mohammed, who spearheaded the development and deployment of the eNaira, stated this recently during the Zenith Bank Tech Fair which was held in[Read More…]
Quickteller, ASIF Partner to Empower Corps Members
Quickteller, the leading consumer digital payments platform, powered by Interswitch, has partnered with Activate Success International Foundation (ASIF) to train members of the National Youth Service Corps (NYSC) in the development of various skillsets to prepare them for their post-NYSC endeavours. The initiative, conducted on a periodic basis under the[Read More…]
Humanitarian Minister Blames Ahmed for N206bn Budget Padding
The Minister of Humanitarian Affairs, Disaster Management, and Social Development, Sadiya Farouq, has disclosed that the Minister of Finance, Zainab Ahmed, added N206bn to the humanitarian ministry’s budget. Farouq, who appeared before the Senate Committee on Special Duties to defend the 2023 budget, revealed that the ministry requested some projects[Read More…]
FG Kicks Against IMF Prediction, Says Nigeria Won’t Face Food Crisis
The Federal Government has advised Nigerians to stay calm and not be afraid of any form of food crises as predicted by the International Monetary Fund. Kicking against the projections, FG stated that several measures had been put in place to forestall the scarcity of food in Nigeria, stressing that[Read More…]
Subsidy: Petrol, Electricity Spent Inefficiently – World Bank
The World Bank report has revealed that Nigeria’s petroleum, electricity, and foreign exchange resources have been consumed by inefficient and regressive subsidiaries. This was contained in a statement on the bank’s website announcing the launch of the new Nigeria Public Finance Review report. The bank added that subsidies benefit only[Read More…]
WAW Detergent recognized as One of 100 Brands Transforming Africa
Peace Legend Awards, an apex event organised by animation, has recognised the WAW brand as one of the 100 brands that are transforming Africa, based on its continuous impact and investment in improving the continent. The WAW detergent is a unique, bold multipurpose laundry care brand from the stable of[Read More…]
Ajinomoto Wins Consumers’ Assembly Award
Ajinomoto Fodds, Nigeria Ltd has won the prestigious Consumers’ Assembly award (seasoning category) for its consistency in local content compliance in Nigeria. The awards was conferred on Ajinomoto recently in Lagos at Consumers’ Experience Summit/Awards with the theme: “harnessing local content for Consumers’ gain: way to go”. Speaking on this[Read More…]
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FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]