business and economy

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President Muhammadu Buhari’s spokesman Garba Shehu has received backlash for trying to justify the hike in prices of petrol and counter the criticism of the increment by the People’s Democratic Party. Shehu in an bid to defend the recent hike in petrol price said Nigerians once bought petrol at #600 per litre during the PDP […]

For decades, Nigeria’s three major oil refineries have been grounded to near-zero capacity utilisation with all of its refined fuel imported from other countries. Data exclusively obtained from the African Refiners & Distributors Association (ARA) revealed that strong refinery performance in Niger meets local fuel demand, and excess production exported to Nigeria, Mali and Burkina […]

The Nigerian government last week increased the price of the Petrol Motor Spirit (PMS) from N138 to N151, majority of the citizenry were furious on the grounds of it being a time of economic hardship come about by the coronavirus lockdown. “Please be informed that a new product price adjustment has been effected on our […]

President Muhammadu Buhari on Monday said the COVID-19 pandemic has resulted in trying times, not just for the Nigerian people, but also for the government as Nigeria’s revenues have fallen by almost 60 percent. Buhari’s remarks were delivered by Vice President Yemi Osinbajo at the start of the first-year Ministerial performance review retreat holding in […]

The President, Major General Muhammadu Buhari, says it will be “grossly irresponsible” to borrow to fund electricity tariff amid the economic crunch caused by the lockdown occasioned by the COVID-19 pandemic. He also said no provision was made for fuel subsidy in the Revised 2020 Budget, noting that about N1.7trn has been spent on tariff […]

In a bid to curtail the spread of  COVID-19 (Coronavirus) in Nigeria, an Afro pop Artist ,Frequencie has called on the Federal and State governments to intensify  efforts in sensitizing residents within interior communities in Nigeria on the deadly effects of coronavirus (Covid-19) . Eyanro Ayokanmi Oluwasegun “Frequencie” who stated this while lending his voice […]

In continuation of efforts to curb smuggling activities, the  Coordinator of the Joint Border Drill Operations, Sector 3, Ilorin, Kwara State Comptroller Mohammed Uba Garba embarked on a three-day sensitization tour to border communities along Kaiama-Jebba-Mokwa-Wawa-Babanna and Kotangora axis of Kwara and Niger States with a stern warning to recalcitrant smugglers still operating in the area […]

The country’s refineries under the management of the Nigerian National Petroleum Corporation made a cumulative loss of N123.25bn from January to October 2019, latest figures released on Wednesday showed. An analysis of data in the October 2019 oil and gas report of the NNPC showed that all three entities recorded losses during the period under […]

The Enugu Electricity Distribution Company has said that the 4,000 megawatts generated in Nigeria daily cannot meet the electricity needs of Nigerians. Head of Corporate Communications, EEDC, Mr Emeka Eze, said this while reacting to an allegation that it was deliberately providing poor services to the customers in the zone. Speaking with The PUNCH on Tuesday, Eze […]

The Senate on Tuesday appealed to the Federal Government to ban importation of textiles for a period of five years to allow for the production of local textiles. This followed the debate on a motion sponsored by Senator Kabir Barkiya (APC-Katsina Central) during plenary session on “Urgent need to revamp the nation’s comatose textile industry”. […]


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