Category: BUSINESS

National Economic Council (NEC) has suspended the planned removal of subsidy on petroleum products ,by the end of President Muhammadu Buhari’s administration, saying that it is not a favourable time for the action. Minister of Finance, Budget, and National Planning,  Zainab Ahmed,  who disclosed this on Thursday,while briefing newsmen  at the end of the NEC meeting…

Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has advised governors in Nigeria against excessive borrowing.Okonjo-Iweala said this on Monday in Abuja at the Nigeria Governors’ Forum (NGF) 2023 induction for newly elected governors with the theme “Governing for Impact (Building Sub-national Governance).She tasked the governors to improve on the Internally Generated Revenue…

Governor of  Central Bank of Nigeria CBN, Godwin Emefiele said the newly inaugurated Dangote Refinery will help Nigeria to generate 12, 000 more Megawatts of electricity and create over  135,000 jobs. He stated this while speaking at the commissioning of the refinery in Lagos on Monday. Emefiele added that the facility is also expected to…

Nigeria’s President, Muhammadu Buhari, on Monday, inaugurated Dangote Petroleum Refinery in Ibeju-Lekki, Lagos.  Speaking at the occasion attended by Heads of State from Ghana, Togo, Niger, Senegal and a representative of the President of Chad,  President  Buhari described the feat as a significant milestone for Nigeria’s economy and a “game changer” for the downstream petroleum…

Minister of Aviation and Aerospace Development Festus Keyamo, Monday, 7th July 2025, inaugurated the Enugu state -owned commercial airline ,”Enugu Air”, with a charge on the management of the Airline to run the Airline professionally, embrace Public private partnership, adding that they should not allow bureaucracy to kill Enugu Air. Speaking at the inauguration ceremony…

Nigerian National Petroleum Company Limited (NNPCL), Akwa Ibom State government and Gas Aggregator Company Nigeria Ltd/GTE (GACN) have signed a  $3.5 billion Memorandum of Understanding on gas industrialisation in Akwa Ibom State. The agreement was signed on Monday during the inaugural session of the South-South Gas Utilisation Forum 2025, taking place in Uyo. The ceremony drew…

In this write- up an Economist, Policy Expert, and Public Finance Consultant, Prof Chiwuike Uba, Ph.D, X- rayed issues surrounding the the Nigeria’s monetary policy and proffered solutions. Read on: In its July 2025 Monetary Policy Committee (MPC) meeting, the Central Bank of Nigeria (CBN) opted to retain its existing monetary parameters—maintaining the Monetary Policy…

IBy Prof Chibuike Uba,Ph.D n this write up, Prof Chibuike Ubah observed issues surrounding President Bola Tinubu ‘s mega borrowing plans and suggests Nigeria must enact a Debt Sustainability Framework Law that limits future borrowing to projects with positive economic returns and mandates legislative and public consultation. President Bola Ahmed Tinubu’s recent loan request, approved…

Central Bank of Nigeria (CBN) has directed all commercial banks, microfinance banks, mobile money operators, and other licensed stakeholders in the payments ecosystem to fully migrate to the ISO 20022 standard for payment messaging by October 31. The directive was contained in a circular signed on Tuesday by the  Director of the Payments System Supervision…

Federal Government Friday , in Abuja,  validated the Nigeria Industrial Policy (NIP), saying  it as a framework to drive inclusive growth, job creation and national competitiveness. Minister of State for Industry, Sen. John Owan Enoh, at the event,  said the policy marked a new covenant to reposition the economy on productivity and resilience. He explained…