By Jemimah Wellington, JKNewsMedia Reporter NIGERIAN PETROL marketers have incurred losses exceeding ₦200 billion over the past six months due to significant price volatility in the downstream petroleum sector. The Independent Petroleum Marketers Association of Nigeria (IPMAN) attributes these financial setbacks to fluctuating prices and inte...
By Jemimah Wellington, JKNewsMedia NIGERIA’s STATISTICAL system falls behind its global peers, the World Bank has noted, urging increased investment to enhance data accuracy and reliability. During a courtesy visit to the Minister of Budget and Economic Planning, Abubakar Bagudu, the World Bank’s practice manager for West and Central Africa, ...
By Jemimah Wellington, JKNewsMedia Reporter THE NIGERIAN naira experienced a slight depreciation against the US dollar in the official foreign exchange market on Thursday, marking its third consecutive daily decline. According to data from the Central Bank of Nigeria (CBN), the naira weakened to ₦1,538.66 per dollar on March 27, down from ₦1,...
By Esther Olaifa, JKNewsMedia Reporter AMID RECORD-breaking demand for machinery in the beverage and liquid food industry, Nigeria is emerging as a key battleground for global suppliers, with shifting trade dynamics and economic challenges shaping the market’s trajectory. At a press conference in Lagos ahead of Drinktec 2025 dubbed the world’s...
By Jemimah Wellington, JKNewsMedia Reporter THE HEADLINE inflation rate in Nigeria eased to 23.18% in February 2025, marking a 1.30% decline from the 24.48% recorded in January, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday. The report highlights a significant downward ...
By Jemimah Wellington, JKNewsMedia Reporter BETWEEN JANUARY 2024 and February 2025, Nigeria’s foreign debt service payments totalled approximately $5.47 billion, placing further strain on the country’s revenue and external reserves. The debt servicing pattern exhibited significant volatility during this period, reflecting ongoing fiscal press...
By Jemimah Wellington, JKNewsMedia Reporter IN A decisive blow to drug trafficking networks, four notorious drug kingpins have been sentenced to a total of 95 years in prison by the Federal High Courts in Lagos and Yola, Adamawa State. The convicts—Ogbuji Christian Ifeanyi, Iloduba Augustine Chinonye, Shuaibu Nuhu Isa (a.k.a Don), and Zidon Z...
By Jemimah Wellington, JKNewsMedia Reporter JULIUS BERGER Nigeria Plc is accelerating its regional expansion, strengthening its footprint in West Africa’s construction industry amid growing economic opportunities. At the recent Choiseul Africa Summit in Cotonou, Benin Republic, the company positioned itself at the centre of high-level discuss...
By JKNewsMedia NIGERIA’s FINANCIAL landscape is undergoing a major transformation as the federal government prioritises policies aimed at strengthening banking institutions to compete on a global scale. President Bola Ahmed Tinubu has emphasised that his administration is dedicated to fostering a sustainable and globally competitive environme...
By Jemimah Wellington, JKNewsMedia Reporter THE MINISTER of Power, Adebayo Adelabu, announced during the public presentation of the National Integrated Electricity Policy (NIEP) and Nigeria Integrated Resource Plan (NIRP) in Abuja that the federal government is reviewing Nigeria’s electricity tariff system to address significant disparities ...
