Korede Abdullah in Lagos The Lilypond Export Command of the Nigeria Customs Service has intercepted and detained 11 containers suspected to be used for smuggling rough and sawn timber worth $295,944. The containers were seized at the Apapa Port on October 11, 2024, following credible intelligence gathered by the Customs Intelligence Unit. This information was…
President Bola Tinubu has reassured French investors on Thursday that Nigeria is ready to do business, stressing that the government’s efforts to stabilise the security situation and create a favourable investment climate. Speaking during a joint briefing with French President Emmanuel Macron at the Elysee Palace in Paris, Tinubu said, “We’ve been working on stabilizing…
Hussaini Kafi in Kano The Federal Government has announced plans to digitize Nigeria’s grazing reserves, cattle routes, and dams inventories. This initiative is part of the administration’s broader goal to modernize the livestock sector and address longstanding farmer-herder conflicts. Minister of Livestock Development, Alhaji Muktar Idi Maiha, revealed this during a meeting with the House…
Korede Abdullah in Lagos The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 27.50% from 27.25% in a bid to curb rising inflation. This decision was made during the Monetary Policy Committee (MPC) meeting held at the CBN headquarters in Abuja. The MPR, which measures the benchmark interest rate, was…
Korede Abdullah in Lagos The Nigerian National Petroleum Company Limited (NNPCL) has announced that the Port Harcourt Refinery has commenced processing crude oil production. According to the company’s spokesperson, Olufemi Soneye, the refinery has kicked off with 60 percent capacity, processing 60,000 barrels per day of crude. This development marks a significant milestone for the…
Korede Abdullah in Lagos A recent report by the National Bureau of Statistics (NBS) has shed light on the dismal state of electricity supply in Nigeria, revealing that households experience an average of 6.4 power outages per week. The report, conducted in collaboration with the World Bank, surveyed 4,715 households across the country and highlighted…
Rivers State has been embroiled in a heated battle for supremacy, pitting the state governor Siminalayi Fubara against his former political godfather, Nyesom Wike, the Minister of the Federal Capital Territory. The latest development in this unending battle is a Federal High Court ruling in Abuja, which has seized the state’s allocations, plunging the region…
Nigerian government has entered a transformative partnership with Brazil’s Fundação Getulio Vargas (FGV) to revolutionise the country’s agricultural sector. The Memorandum of Understanding (MoU), signed at the G20 Leaders’ Summit in Rio de Janeiro, focuses on driving innovation and investment in fertiliser production, hybrid seed technology, and agricultural finance across all 774 local government areas…
The Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦970 per litre for oil marketers. This decision, revealed by the company’s Chief Branding and Communications Officer, Anthony Chiejina, in a statement on Sunday, said is aimed at showing appreciation to Nigerians for their…
The Nigerian Civil Aviation Authority (NCAA) has renewed the aerodrome certificates for Murtala Muhammed International Airport (MMIA), Lagos, and Nnamdi Azikiwe International Airport (NAIA), Abuja, marking a significant milestone in Nigeria’s aviation sector. The certificates, which expired four years ago, were presented to the Federal Airports Authority of Nigeria (FAAN) on Friday in Abuja by…
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