The Consumer Price Index (CPI) which measures the rate of change in prices of good and commodities increased to 33.88 per cent in October compared to 32.70 per cent in September, the National Bureau of Statistics (NBS) said Friday. The 1.18 percentage increase in headline index was blamed on rising food and energy prices. According…
The Federal Executive Council (FEC), yesterday approved a N47.9 trillion federal budget estimate for the 2025 fiscal year during its meeting at State House, Abuja. Briefing newsmen after the FEC meeting held at the Council Chambers and presided by President Bola Tinubu, Minister of Budget and Economic Planning, Atiku Bagudu, explained that the budget…
The Nigerian National Petroleum Company Limited has made significant leadership changes, appointing key executives to strengthen its operations. In a press statement released on Wednesday, NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, shared the new appointments aimed at boosting efficiency and corporate governance. The changes include the appointment of Mr. Adedapo A. Segun as the…
The Nigeria Civil Aviation Authority has issued a stern warning to flight crew members, particularly pilots, regarding the practice of working for multiple airlines simultaneously with the same approved privileges, including simulators and proficiency checks that are endorsed on their licenses. The NCAA emphasized that this practice poses a serious safety risk and will be…
The Federal Government is seeking a $5 billion trade loan from Saudi Arabia to boost capital for its economic reform programme. The presidency announced this in a statement on Tuesday, following President Bola Tinubu’s meeting with Crown Prince Mohammed bin Salman in Riyadh during the joint Arab-Islamic summit. No further details about the facility…
A new report by the Nigeria Economic Summit Group, in partnership with Stanbic IBTC, highlights ongoing economic challenges faced by businesses in Nigeria, including high inflation, rising interest rates, and the instability of the Naira in the foreign exchange market. The October NESG-Stanbic IBTC Business Confidence Monitor reveals that the business environment remains weak, with…
The Nigerian Exchange Limited saw a positive close on Monday, adding N83 billion to investor wealth. This marked the market’s third consecutive day in the green, following a period characterized by sell-offs and rebalancing of portfolios. Despite these gains, the NGX All-Share Index had recorded a weekly dip of 0.20 percent and a 0.38 percent…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has reached an agreement with Dangote Refinery to lift products directly IPMAN National President, Abubakar Garima, announced this in Abuja on Monday after a meeting of the National Working Committee of the Association. He said the partnership will ensure steady, and affordable supply of PMS…
The Dangote Refinery and Petrochemical is set to begin fuel exports to South Africa, Angola, and Namibia, Saturday PUNCH can confirm. A highly credible source, who confirmed this exclusively to one of our correspondents on Friday, said the management of the 650,000-barrel per-day capacity refinery was at advanced stages of talks with the countries to…
The World Trade Organization (WTO) has confirmed that Nigerian Ngozi Okonjo-Iweala will run unopposed for a second term as its director-general. In a statement released on Saturday, the organization disclosed that Okonjo-Iweala expressed her willingness to serve a second four-year term on September 16. The WTO further stated that Okonjo-Iweala is the sole candidate for…
