Economy

Former Leader of the Senate, Mohammed Ali Ndume, declared on Sunday that the North is not parasitic in nature particularly when matters of economic survival are concerned. Ndume who represents Borno South Senatorial District in the National Assembly, noted that all states, zones and regions in the country need each…

Nigeria’s internet subscriber base grew by 1.88 million in October 2024, reaching 134.78 million, according to the Nigerian Communications Commission (NCC). Mobile networks dominated with 134.27 million users, while fixed wired and VoIP contributed the rest. MTN Nigeria led the growth, adding 1.13 million subscribers to total 69.52 million, followed…

The Joint Task Force (JTF) South-South, operating under Operation Delta Safe (OPDS), has secured 95% of the Trans-Niger, Trans-Ramos, and Trans-Escravos pipelines within the past three months. Speaking at a press briefing in Bayelsa State on Wednesday, Rear Admiral John Okeke, Commander of JTF South-South Operation Delta Safe said through…

President Cyril Ramaphosa has expressed South Africa’s interest in collaborating with Nigeria to harness critical minerals, particularly lithium, to drive the green energy transition and support the development of electric vehicles (EV) batteries. According to a statement by Bayo Onanuga, Special Adviser to the President (Information & Strategy), he disclosed…

The Central Bank of Nigeria (CBN) has dismissed claims of forced mass retirements, clarifying that its Early Exit Package (EEP) is entirely voluntary and without any negative repercussions for eligible staff. Speaking in Abuja on Wednesday, December 4, 2024, the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, stated…

The Nigerian National Petroleum Company Limited (NNPC Ltd) has insisted that the Old Port Harcourt Refinery is up and running, with loading operations in full swing. The Group Chief Executive Officer, Mr Mele Kyari, gave the confirmation at the commissioning of the NUPENG Towers in Lagos on Wednesday. In a…

The Federal Government, States and the Local Government Councils has shared a total sum of N1.411 trillion being October 2024 Federation Accounts Revenue. The revenue was shared at the November 2024 meeting of the Federation Accounts Allocation Committee (FAAC) held in Bauchi State, and chaired by the Accountant General of…

The National Insurance Commission (NAICOM) and the Economic and Financial Crimes Commission (EFCC) have bolstered their partnership to address money laundering and other financial fraud affecting growth in Nigeria’s insurance sector. This renewed commitment was announced during a working visit by NAICOM’s leadership, led by Commissioner for Insurance and Chief…

Group CEO of NNPC Ltd, Mele Kyari has said that the company had perfected plans to deliver 12 Compressed Natural Gas (CNG) Mother Stations and Mini LNG Plants soon, as part of efforts to boost the existing 1.6bscf of gas supply for domestic market. Speaking at the opening ceremony of…

In a bid to ensure timely declaration of liquidation dividends to uninsured depositors of the failed Heritage Bank (In-Liquidation), the Nigeria Deposit Insurance Corporation (NDIC) has commenced process for the auction of landed properties and chattels of the failed bank. This exercise is in pursuant of the Corporation’s statutory powers…