Recession bites harder as FG’s revenue dips by N90.27bn, 3 tiers share N420bn
The federal Ministry of Finance has said federation income dipped by N90.27bn for the month of September. Figures released by the Federation Accounts Allocations Committee after its meeting in Abuja Friday showed that the total amount realised for September stood…
Militancy, oil theft deflated 12% from Sept oil earnings—FG
The Ministry of Finance yesterday linked declining oil production and export volumes to militancy and large-scale crude theft cut the Nigerian government’s gross revenue in September by about 12% from August to N279.75 billion ($8 billion). The ministry said that…
Ikeja Electric, DRASA boost handwashing campaign in Lagos
Nigeria’s largest distribution company, Ikeja Electric Plc has partnered with Dr. Ameyo Stella Adadevoh (DRASA) Health Trust and Kleanmate to celebrate this year’s Global Hand washing Day with children in selected Secondary Schools located within its network coverage. The event,…
CBN, Heritage Bank empower youths with N774m under YIEDP scheme
The Central Bank of Nigeria (CBN) and Heritage Bank Plc yesterday began the disbursement of a total sum of N774 million to 310 of the Youth Innovative Entrepreneurship Development Programme (YIEDP). The scheme was launched by the apex bank in…
Lufthansa Airline stays in Nigeria airspace
Leading international carrier, Lufthansa Airline, yesterday said it had no plan to reduce its flight operations in Nigeria. The airline’s Media Consultant, Mr. Hakeem Jimoh, made the disclosure in Lagos, saying the group will continue to partner with aviation stakeholders…
French Airbus set to establish office in Nigeria
Good news emerged in the aviation sector yesterday from the French Ambassador to Nigeria, Denys Gauer, revealing that Airbus Group, the largest aircraft manufacturers and leasers in the world will open an operational office in Nigeria. In a statement yesterday…
NNPC cuts price of Nigeria’s crude oil grades as bait for buyers
The Nigeria National Petroleum Corporation (NNPC) yesterday cut down the official selling price of Nigeria’s crude oil grades as parts of strategy to make Nigeria crude oil attractive to buyers and to help it regain its share of the global…
Customs deepens cleanup, punishes 44 officers, sacks 29 top brass
Barely less than one week it sacked about 17 junior officers, the authorities of the Nigerian Customs Service (NCS), yesterday sanctioned 44 senior officers and dismissed 29 for varying degrees of infractions. Whereas the 44 were said to have engaged…
Remita hits $30bn transactions mark annually, gets mobile app
Annual transactions on Remita have reached $30bn in the country, SystemSpecs has said, adding that it will release the mobile version of the Remita e-payment and e-collection platform before the end of the year. The group noted that Remita was…
