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...
NIGERIA’s NATIONAL energy company, the Nigerian National Petroleum Corporation Limited (NNPCL), announced that it has taken a major step in addressing methane emissions across its operations. The company said it has joined the Oil and Gas Methane Partnership (OGMP) 2.0, an international framework designed to track and reduce methane intensity ...
