The Federal Executive Council (FEC) approved the sum of N665 million for the acquisition of poultry equipment for farmers in Borno, Yobe, Plateau and Zamfara. This was disclosed at the FEC meeting on Wednesday by the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Farouk, chaired by President Muhammadu Buhari, in Abuja.
The Nigerian Senate has passed a bill that strengthens the power of the Asset Management Corporation of Nigeria (AMCON) to recover bad loans acquired from commercial banks. In the new AMCON Amendment Bill, the agency has been empowered to go after bank debtors and take over assets other than the ones used as collateral to
On Monday, 19th of April, 2021, the NNPC GMD, Mele Kyari assured Nigerians that there would be no increase in the ex-depot price of Premium Motor Spirit, popularly known as Petrol in May. Kyari also added that Petroleum Tanker Drivers had suspended their proposed strike after the intervention of NNPC in the impasse between the
Amazon, US retail giant has announced that it would be opening its first African office in South Africa with a real estate investment of over R4 billion. This announcement is coming a week after Twitter choose to open its first African office in Ghana. Authorities in Cape Town noted that Amazon would be occupying a
The Federal Government declared that it is working with stakeholders to improve MSME participation in the economy through improving the business climate which will create jobs. This was disclosed by Amb. Mariam Katagum, Minister of State for Industry, Trade and Investment, at the 7th EMPRETEC Global Summit, on Tuesday, themed “The Role of Entrepreneurship, MSME
The Central Bank of Nigeria (CBN) has ordered Deposit Money Banks (DMBs) and Bureau De Change (BDC) operators to, henceforth, accept from their customers, old and lower denomination of US dollars as legal tender or face sanctions. This follows numerous complaints from members of the public on the rejection of old/lower denominations of the dollar
The Central Bank of Nigeria (CBN) has assured exporters that they will continue to have unfettered access to their export proceeds. CBN Governor, Mr. Godwin Emefiele, during a presentation at Zenith Bank’s 2021 Export Seminar, which held via a virtual platform on Tuesday, however, urged them to reciprocate the good gestures of the central bank
The Peoples Democratic Party (PDP) on Sunday joined those urging President Muhammadu Buhari to remove the Minister of Communications and Digital Economy, Dr. Isa Pantami, for his alleged sympathy for terrorist organisations, including the Taliban, Al-Qaeda and Boko Haram. The party also asked the Department of State Security to invite the minister for questioning. The
The increasing landing cost of petrol and the inability of the Nigerian National Petroleum Corporation (NNPC) to increase ex-depot price have continued to negatively impact on the operations of the corporation, according to latest data from the national oil company. Figures from the NNPC from its full market operations report for January indicated that as
Last week was interesting and we tracked some notable events in the economy and markets that would likely have an impact on your money this week. Economic Indicators The National Bureau of Statistics released its monthly inflation figures and it is pretty clear that inflation in Nigeria is going only one way — up. Inflation