Category: Economy
SEC Urges Crypto Community to Identify Naira Manipulators
The Director-General of the Securities and Exchange Commission (SEC) has called on the cryptocurrency community to help identify individuals responsible for manipulating the Nigerian Naira and to publicly shame them. Mr. Lamido Agama made this plea during a gathering organized by the Blockchain Industry Coordinating Committee of Nigeria to engage with key industry participants on…
Vice President Shettima Assumes Responsibility Amidst Economic Challenges
Vice President Kashim Shettima has firmly stated that the current administration will not shift blame to the previous government led by former President Muhammadu Buhari for the hurdles it encountered upon taking office. Addressing attendees at the second Chronicle Roundtable organized by the 21st Century Chronicle, Vice President Shettima acknowledged the intricate complexities of governance…
EFCC Cracks Down on Schools Charging Tuition Fees in Foreign Currency
The Economic and Financial Crimes Commission (EFCC) has set its sights on schools that charge tuition fees in dollars and other foreign currencies, as part of efforts to uphold the use of the naira as Nigeria’s legal tender. Dele Oyewale, spokesperson for the EFCC, revealed that the commission is closely monitoring international schools and other…
New Lithium Factory in Nasarawa State to Boost Electronics and Electric Vehicle Industries
Nasarawa Local Government Area (LGA) of Nasarawa State, Nigeria, is set to witness a significant industrial boost with the establishment of a state-of-the-art Lithium Factory. Lithium, a crucial component in rechargeable batteries for electronics, electric vehicles (EVs), and grid storage, is poised to revolutionize the technology and energy sectors. Lithium’s pivotal role in powering modern…
Nigeria Unites to Achieve $1 Trillion Economy by 2030 with Aso Accord
In a historic move aimed at propelling Nigeria into a $1 trillion economy by 2030, the Presidency, all 36 states, and the private sector have forged a groundbreaking agreement known as the Aso Accord on Economic and Financial Inclusion. This comprehensive plan seeks to ensure that every citizen in Nigeria has equal access to financial…
Nigeria Aims to Produce 4,000 Metric Tonnes of Lithium Daily, Says Vice President Shettima
Nigeria is gearing up to become a major player in the global lithium market, with plans underway to produce a staggering 4,000 metric tonnes of lithium daily. Vice President Kashim Shettima made this announcement on Monday during discussions aimed at revitalizing Nigeria’s mining industry. Speaking at the opening of a two-day forum in Abuja, Vice…
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…