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PPPRA: Petrol pump price now N121.50

The Petroleum Products Pricing Regulatory Agency, PPPRA, has announced a new pump price band of N121.50 to N123.50 per litre for Premium Motor Spirit, also known as petrol. The PPPRA, which is an agency of the Federal Government, disclosed this ...

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Nigeria expects injection of N2 trillion stimulus into the economy – minister

Minister of State for Budget and National Planning, Prince Clem Ikanade Agba, has said that the Federal Government expects the injection of about N2 trillion stimulus into the economy in response to the COVID-19 pandemic and the fall in oil ...

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Nigeria: Fuel subsidy will not return

The Federal Government has pledged that it will ensure that fuel subsidy, which was recently removed, does not re-emerge. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, and the Central Bank of Nigeria Governor, Mr Godwin Emefiele, ...

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Nigeria cuts down 2020 budget by N317.5 billion

To reflect the present harsh economic realities occasioned by the coronavirus pandemic, the Federal Government has adjusted the 2020 budget, slashing the figures by N317.5 billion. It will be recalled that the National Assembly had in December 2019, passed a ...

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Nigerians hail government’s reduction of petrol price to N125 as marketers kick

Mixed reactions on Wednesday trailed the reduction in the pump price of Premium Motor Spirit from N145 to N125 per litre by the Federal Government. While some Nigerians lauded the reduction, petroleum marketers, however, faulted the government for not engaging ...

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Rivers to ‘reorganize’ operators of artisanal refineries

The Rivers State government is planning to reorganize over 2,000 illegal operators of the local artisanal refineries in the state. This, it said, was necessary to create an enabling environment for them to operate government licensed modular refineries in order ...

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Coronavirus: Nigeria may review 2020 budget – minister

The fast-spreading coronavirus from China is threatening Nigeria’s main source of revenue – oil. To this end, the Federal Government is likely to review the N10.59 trillion 2020 budget passed by the National Assembly on December 5 and signed into ...

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CBN: 100 tonnes of mutilated naira notes destroyed weekly

The Central Bank of Nigeria (CBN) said that about 100 tonnes of bad naira notes were generated as waste and destroyed weekly through open air burning at its 12 disposal centres across the country. Meanwhile, the apex bank has commenced ...

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Dangote Farms commissions tomatoes nursery to provide seedlings for farmers

In a bid to make Nigeria self-sufficient in tomato production, Dangote Tomatoes Processing Limited, owned by the younger brother of Africa’s richest man, Sani Dangote, has unveiled a N2.8 billion greenhouse nursery in Kano to supply the best quality tomato ...

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Central bank redeploys, appoints new directors

The Management of the Central Bank of Nigeria (CBN) has announced the redeployment of Mr. Yusuf Philip Yila, a Director with the Bank and the Managing Director, NIRSAL Microfinance Bank (NMFB), to the position of Director, Development Finance Department, with ...

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