By Jemimah Wellington, JKNewsMedia Reporter ADDRESSING THE persistent economic challenges in Nigeria requires urgent collaboration between the public and private sectors to drive industrial development and support Small and Medium Enterprises (SMEs). Olasupo Olusi, Managing Director of Bank of Industry (BoI) emphasised this during an interact...
— As Company Rolls Out Five Mini-LNG Stations in Ajaokuta This Week Described by Nigerians from all walks of life as unprecedented, President Bola Tinubu will be performing the groundbreaking ceremony for five mini-LNG plants in Ajaokuta, Kogi State. NNPC Ltd’s Chief Corporate Communications Officer, Olufemi Soneye spoke to a select group of n...
UNCTAD Report SHIFTING GLOBAL economic dynamics have significantly impacted Foreign Direct Investment (FDI), with Africa witnessing an 84% surge, largely attributed to a megaproject in Egypt. According to the latest report by the United Nations Conference on Trade and Development (UNCTAD), without this single project, the continent’s FDI grew...
By Jemimah Wellington, JKNewsMedia Reporter ECONOMIC RECOVERY in Nigeria demands an urgent acceleration of growth, with the government aiming to double the current rate to 7% within two years to alleviate poverty. Nigeria’s Finance Minister Wale Edun stressed this during the World Economic Forum (WEF) in Davos, Switzerland, on Thursday....
By JKNewsMedia FEARS OVER data security and foreign influence have driven a pivotal decision by the US Supreme Court, which upheld a law to ban TikTok, effectively cutting off access for 170 million users in the United States. The court ruled on Friday that the legislation does not infringe upon free speech rights, citing national […]
By Emele Onu, Bloomberg Report  A YEAR after an eyewatering slide against the dollar, the naira is enjoying a rare run of stability, and analysts expect it to last. Nigeria’s battered currency has lost 70% against the greenback since foreign exchange controls were relaxed in 2023, including a steep depreciation 12 months ago. But its [&hellip...
By Jemimah Wellington, JKNewsMedia Reporter OVER 1,000 employees left the Central Bank of Nigeria (CBN) in December through its voluntary Early Exit Programme (EEP). The development prompted the House of Representatives to summon the CBN management to clarify why so many workers left and how the N50 billion severance package was arrived at. C...
By Jemimah Wellington, JKNewsMedia Reporter MISLEADING CLAIMS about the completion status of BUA Group’s Akwa Ibom refinery have been dismissed. The company, in a statement, clarified that its 200,000-barrels-per-day crude oil refinery is not yet 90% complete but remains on schedule for delivery by the end of 2025. In a statement releas...
By Joke Kujenya ECONOMIC HARDSHIP continues to deepen in Nigeria, as citizens grapple with the ripple effects of fuel subsidy removal, a depreciated naira, and soaring inflation. Petrol prices surged by nearly 500% within a year of the subsidy removal, leaving many households struggling to meet daily expenses. Meanwhile, the liberalisation of...
By Joke Kujenya THE OFFICE of the Accountant General of the Federation (OAGF) has accused the Central Bank of Nigeria (CBN) of misappropriating over N2.7 trillion in interest charged on the N4.4 trillion Ways and Means Advances granted to the federal government. The OAGF claims the apex bank treated these advances as loans from external [&hel...
