Nigeria’s petrol price still low compared to neighbours’, encourages smuggling – NNPC GMD About 80 per cent of petroleum products consumed in West Africa are smuggled from Nigeria, the NNPC chief said. Despite the complaint by Nigerians of the rising cost of petrol, the government says Nigerians still pay the […]
Business
The Nigerian economy has slipped into its second recession in five years after the gross domestic product contracted the second consecutive quarter. The National Bureau of Statistics on Saturday announced that the nation recorded a contraction of 3.62 per cent in the third quarter of 2020. The country had […]
The Federal Government has barred Emirates Airlines from operating in Nigeria. According to the Minister of Aviation, Hadi Sirika, the ban will take effect from Monday, September 21, 2020. The tweet read: “The PTF sub-committee met today with EU Ambassadors to discuss Lufthansa, Air France/KLM ban. The meeting progressed well. […]
WTO members indicated that the five candidates who should advance are Ngozi Okonjo-Iweala of Nigeria, Yoo Myung-hee of the Republic of Korea, Amina C. Mohamed of Kenya, Mohammad Maziad Al-Tuwaijri of the Kingdom of Saudi Arabia and Liam Fox of the United Kingdom. “Throughout the six days of consultations it […]
The Central Bank of Nigeria has ordered banks to provide the domiciliary account statements of some high profile customers and other accounts linked to the customers through the Bank Verification Number. Including that of Hon. Akin Alabi house member representing Ona Ara/Egbeda federal constituency of Oyo […]
The naira continued its downward trend, as it exchanged for the dollars at N460 in the parallel market on Tuesday, despite the resumption of forex sales to the Bureau de Change Operators. The naira had earlier dropped from N480/$ following the Central Bank of Nigeria’s announcement to resume forex sales […]
Nigeria’s inflation rate rose further to 13.22 per cent in August, the highest in 28 months, as a result of the spike in the prices of basic food items in recent times. The continued rise in the inflation rate can also be attributed to the impact of oil prices on […]
The amount spent as subsidy on petrol increased from N2.87bn in November 2018 to about N60.37bn in November 2019, representing an increase of 2,001 per cent. An analysis of the amount spent on petrol subsidy in November this year showed that every litre of the product consumed in Nigeria was […]
Oyo State government has assured the people of the State that the present government would not increase tax on small and medium scale enterprises (SMEs) in its drive to soar up its revenue base. The Chairman, Oyo State Board of Internal Revenue (BIR), Aremo John Adeleke stated this recently in […]
Ruby Gold a top notch hotel With 22 rooms, seven of which are executive, seven deluxe with four standard and four suites, located in the heart of Ibadan business district, Dugbe is setting the pace in the hospitality industry not just in Ibadan, but Oyo state. Ruby Gold owned […]