business and economy

The lingering foreign exchange scarcity in the country has continued to worsen even as the exchange rate on the parallel market is inching towards N590/$1.   The development may lead to massive job loss in the manufacturing industry, among other sectors, according to the Manufacturers Association of Nigeria.   The development comes over eight months […]

A renowned industrialist and Chief Executive of Shanghai Engineering Works and Industrial Limited (SEWIL), Mr Festus Mbisiogu, has sent a Save-Our-Soul to the federal government over the threat posed to industries because of irregular power supply and high cost of diesel in the region. Mbisiogu, who spoke at the backdrop of consistent epileptic power supply […]

National chairmanship aspirants of the ruling All Progressives Congress (APC) will pay N20m each for nomination forms. Aspirants for the office of Deputy National Chairmanship will pay N10 million while other positions in the National Working Committee (NWC) of the party will attract N5 million each. The National Convention of the party holds on Saturday […]

There is uncertainty over the threat by the airline operators to shut down operation following the skyrocketing price of aviation fuel known as Jet A1. Óil marketers and operators failed to agree on a new pricing template according to latest update gathered by newsmen. A meeting of the Airline Operators of Nigeria (AON) and the […]

One major index of social change and development, especially in developing societies, is infrastructure development. No society can boast of having achieved development if a large percentage of her infrastructure is comatose. Infrastructure development is critical to achieving human capital development. The economic impact that it has on nation building cannot be overemphasized. The growth […]

Governors of the South-South States have demanded an upward review of the provision of 2.5 percent as host community trust fund in the Petroleum Industry Bill to 10 per cent in the best interest of oil communities and the nation. This is as the governors advise the President, Major General Mohammadu Buhari (retd.) that in […]

ABUJA-MARKET women in the South East geo-political zone of the country have lauded President Muhammadu Buhari’s empowerment efforts in the region. Operating under the umbrella of Amalgamated Union of Market Women Societies in the South East,the women who reeled out the social security investments of the president so far in the zone,noted that the development […]

The Nigerian National Petroleum Corporation (NNPC) has called for a legislative framework with clear fiscal terms in order to tap the full potential of the gas resources in the nation’s deepwater acreages. The Group Managing Director of NNPC, Mallam Mele Kyari, made the call at a one-day public hearing on “Inclusion of Gas Terms in […]

The Organised Labour has criticised the federal government over its fresh move to increase petrol pump price following the rise of crude oil price above $60 per barrel in the international market. The minister of State for Petroleum Resources, Timipre Sylva, on Tuesday at the official launch of the Nigerian Upstream Cost Optimisation Programme, urged […]

The Central Bank of Nigeria has given an insight into why it banned Nigerian banks from trading in cryptocurrencies, saying transactions in them are largely speculative and volatile. The apex bank gave the explanation in a statement by Mr Osita Nwanisobi, Acting Director of Communications. The explanation is coming on the heels of widespread reactions […]


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