Category: Economy
Federal Government Unveils Ambitious Plan to Generate 2.5 Million Jobs Through LEEP
In a bold move to address unemployment and bolster economic growth, the Federal Government has announced its intention to create 2.5 million jobs through the Labour Employment Enhancement Programme (LEEP) under the Ministry of Labour and Employment. The Minister of State for Labour and Employment, Mrs. Nkeiruka Onyejeocha, made this revelation during the pre-inauguration ceremony…
Port-Harcourt Refinery Company and African Refinery Sign Co-Location Agreement to Boost Nigeria’s Refining Capacity
Port-Harcourt Refinery Company (PHRC) has sealed a landmark agreement with African Refinery Limited (ARL) for the co-location of a 100,000 barrels per day (bpd) capacity refinery within the Port-Harcourt Refinery Complex. This significant development promises to bolster local refining capacity and marks a significant win for Nigeria’s oil and gas industry. The agreement, signed between…
Lagos State Government Doubles Minimum Wage for State Workers
In a significant move aimed at improving the welfare of civil servants in Lagos State, Governor Babajide Sanwo-Olu has announced a doubling of the minimum wage. Effective immediately, the minimum wage for Lagos state workers has been increased from 35,000 Naira to 70,000 Naira. The announcement comes as welcome news to thousands of workers across…
MRS Oil Slashes Diesel Prices Amidst Industry Shift
In a significant move that is set to impact the fuel market across Nigeria, MRS Oil Nigeria, under the leadership of Sayyu Dantata, has announced a drastic reduction in the price of Diesel Automotive Gas Oil (AGO) at all its retail outlets nationwide. The company has taken the bold step to sell diesel at the…
Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment
In a significant move aimed at reviving Nigeria’s oil and gas industry and bolstering its contribution to the economy, Wale Edun, OFR, Minister of Finance and Coordinating Minister of the Economy, presided over a signing ceremony endorsing the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector. The ceremony took…
Over 1,500 Benefit from Ogun State Free Surgery Programme as Government Rolls Out Welfare Initiatives
The Ogun State Government has announced that over 1,500 individuals have benefited from the ongoing Free Surgery Intervention Programme as part of its commitment to providing accessible healthcare services to residents. The disclosure was made during the flag-off of the sale of discounted rice to civil servants at the State Secretariat, Oke-Mosan, Abeokuta, underscoring the…
Northwest Governors Forge Partnerships at Nigerian Embassy in Washington, United States
A delegation of Northwest Governors, led by Katsina State Governor Malam Dikko Umaru Radda, recently convened at the Nigerian Embassy in Washington, United States, alongside governors from Niger, Plateau, and Benue States in the North Central region. The meeting, hosted by Acting Ambassador of Nigeria to the United States, Mrs. Uzoma Emenike, aimed to foster…
Nigeria Ranks Third in 2024 IMF Growth Forecast
As the global economy gradually rebounds from the aftermath of the COVID-19 pandemic, Nigeria emerges as a frontrunner in economic growth, according to the 2024 International Monetary Fund (IMF) growth forecast. The forecast reveals that only India and China surpass Nigeria in projected economic growth rates for 2024, positioning the country as a key player…
Nigeria Poised to Become Global Economic Powerhouse Under President Tinubu – VP Shettima
In a resounding endorsement of Nigeria’s economic potential, Vice President Kashim Shettima has expressed confidence that Nigeria will emerge as a major global economic force under the leadership of President Bola Ahmed Tinubu. Speaking from his office at the Presidential Villa, Vice President Shettima conveyed his optimism during a meeting with a delegation from the…
Nigeria Implements New Regulations to Boost Domestic Refining Capacity In a bid to enhance its domestic refining capacity and reduce dependence on imported refined products, Nigeria has introduced new regulations mandating local oil producers to prioritize supplying crude oil to domestic refineries. The regulations, initiated by the Nigerian Upstream Regulatory Commission, require all oil companies…