The Dangote Petroleum Refinery has recommenced the purchase of crude oil from the United States in its ongoing efforts to ramp up oil production and enhance its refining capacity. The new purchase comes after a three-month hiatus in purchasing crude from foreign countries, focusing instead on domestic supply. A report[Read More…]
Author: Godwin Anyebe
Benue approves ₦75,000 minimum wage, pledges arrears payment
Benue State Governor, Hyacinth Alia, has approved a new minimum wage of ₦75,000 for workers in the state. According to a statement issued recently by his Chief Press Secretary, Kula Tersoo, the governor made the announcement at the State Secretariat following a meeting with representatives of organised labour. The statement[Read More…]
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…]
Increased tax revenue collection will reduce Nigeria’s debt burden – FIRS
The Federal Inland Revenue Service (FIRS), has said that an increase in tax collection will enhance Nigeria’s revenue and cut down the urge to borrow to fund the economy. According to the revenue agency, it would ultimately lead to a lower national debt burden. In a paper presentation titled: “Interaction[Read More…]
UNILEVER and WAPCO shine as All-Share Index gains 0.23%; PZ, TIP weigh on activity
The Nigerian All-Share Index (ASI) ended the trading session on Tuesday, November 19th, with a bullish stride, climbing 225.06 points to close the day in positive territory. This notable uptick pushed the index 0.23% higher to settle at 97,972.33 points, up from the previous day’s close of 97,747.27 points. However,[Read More…]
UBA to empower MSME’s with wealth management strategies at ‘Built to Last’ Series
As part of its commitment to deepen the growth and sustainability of micro, small and medium-scale enterprises (MSMEs) on the continent, Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to host the last edition of its quarterly business series for the year. This edition of the business[Read More…]
Nestle to Increase Advertising Spend and Reduce Costs by $2.8 Billion by 2027
Nestle, the global food industry leader, has announced plans to ramp up advertising and marketing efforts while cutting costs by $2.8 billion by 2027. Part of the strategy includes creating a separate global division for its water and premium drinks businesses. The company aims to increase its investment in advertising[Read More…]
Nestlé Nigeria Reveals Judges For 2024 Media Awards Celebrating Journalistic Excellence
Nestlé Nigeria has unveiled the panel of judges for the 2024 Nestlé Nigeria Media Awards, an event that recognises and celebrates journalistic excellence across Nigeria. Now in its fourth year, Nestlé Nigeria Media Awards recognizes and rewards media professionals who skillfully highlight critical issues around nutrition security, environmental sustainability and[Read More…]
FirstBank hosts inaugural China-Africa interbank forum
FirstBank has announced its hosting of the first-ever China-Africa Interbank Association Forum to strengthen economic ties and investments between China and Africa. In a statement made available to newsmenrecentlyin Lagos, the forum, themed ‘Joining Hands to Advance Modernisation and Strengthening China-Africa Trade, Industrialisation, and Economic Diversification,’ will take place later[Read More…]
Nigeria Customs sign MOU with NAFDAC on eradicating illicit products
The Nigeria Customs Service (NCS) has signed a Memorandum of Understanding (MoU) with the National Agency for Food and Drug Administration and Control (NAFDAC). The agreement is aimed at strengthening collaboration in combating the influx of illicit pharmaceutical products and other harmful substances into Nigeria. The MOU was signed at[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…]