Category: Economy
Shehu Sani Slams NPC’s ₦1 Trillion Census Budget as “Madness”
Former federal lawmaker and social critic, Shehu Sani, has strongly criticized the National Population Commission (NPC) for requesting nearly ₦1 trillion to conduct a national census. Describing the request as “madness,” Sani questioned the rationale behind such a hefty budget, especially at a time when the country is grappling with economic challenges and competing priorities….
BOI Disburses N108 Billion to 921 Women-Owned Businesses to Bridge Gender Gap
In a significant move to empower women entrepreneurs and bridge the gender gap in Nigeria’s economy, the Bank of Industry (BOI) has disbursed N108 billion in loans to 921 women-owned businesses. The initiative, announced during BOI’s commemoration of International Women’s Day 2025, underscores the bank’s commitment to expanding access to financing and business opportunities for…
National Theater Transformation to Unlock $25 Billion Creative Sector Potential, Says CBN Governor Cardoso
Lagos, Nigeria – The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has declared that the transformation of the National Theater in Lagos will serve as a catalyst for unlocking the $25 billion income potential of Nigeria’s creative sector. Cardoso made the statement during a press briefing following a tour of the upgraded National Theater,…
Fuel Price War: Nigerians to Enjoy Further Petrol Price Reductions as NNPC, Dangote Refinery Compete
Nigerians can expect further reductions in the price of Premium Motor Spirit (PMS), commonly known as petrol, as the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery engage in a price war. This development comes as both companies have recently slashed their petrol prices, sparking competition that is set to benefit consumers. On Monday,…
Naira Depreciates to N1,510/$ in Parallel Market, Gains Slightly in Official Market
The Nigerian Naira experienced mixed fortunes in the foreign exchange markets yesterday, depreciating in the parallel market while recording a slight gain in the official Nigerian Foreign Exchange Market (NFEM). In the parallel market, the Naira fell to N1,510 per dollar from N1,505 per dollar over the weekend, reflecting a N5 depreciation. However, in the…
High Interest Rates, Inflation Threaten Nigerian Airlines’ Profitability – Bi-Courtney COO
The Chief Operating Officer (COO) of Bi-Courtney Aviation Services Limited, Mr. Remi Jibodu, has raised concerns over the challenges facing Nigerian airlines, warning that high interest rates and inflation could undermine their profitability despite the implementation of the Cape Town Convention (CTC) Practice Direction. Jibodu made the remarks during a courtesy visit by members of…
Shettima Calls for Private Sector Investment to Tackle Hunger, Transform Nigeria’s Food System
Vice President Kashim Shettima has urged the private sector to increase investments in Nigeria’s food system to address the persistent hunger and economic hardship facing the nation. Speaking at the ‘Strategic Workshop on Agriculture and Food Security’ organized by the Presidential Food Systems Coordinating Unit (PFSCU), the National Bureau of Statistics (NBS), and the Nigerian…
EFCC Chairman Reveals He Rejected N500m Offers During Mother’s Burial
The Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede, has disclosed how he turned down offers totaling N500 million from government officials during his mother’s funeral in 2019. Speaking at the 38th Anti-Corruption Situation Room in Abuja on Thursday, Olukoyede recounted the incident as an example of the ethical challenges faced by…
NDIC Calls on Lawyers to Enhance Recovery of Closed Banks’ Assets
The Nigeria Deposit Insurance Corporation (NDIC) has urged its external solicitors to intensify efforts in recovering assets of closed banks to ensure the payment of uninsured deposits, legitimate creditor claims, and liquidation dividends to investors. The Managing Director of NDIC, Dr. Bello Hassan, made the call during a sensitization seminar for the corporation’s external solicitors…
Meranda Has Resigned as Speaker – Obasa Claims
Embattled former Speaker of the Lagos State House of Assembly, Mudashiru Obasa, has claimed that his successor, Mojisola Meranda, has resigned from her position. Obasa made the assertion during an appearance on Politics Today on Channels Television on Thursday evening, insisting that he remains the legitimate Speaker of the House despite his removal by colleagues…