Category: Economy

The Eki Industrial Hub is a state-of-the-art industrial hub located in Ondo Kingdom, Ondo State, Nigeria. The hub is projected to become an essential part of the state’s economy due to its vast range of features, including uninterrupted power supply, water, security, and internet facilities. One of the most critical features of the Eki Industrial […]

Amarachi Orjiude and Sami Olatunji 2 August 2021 Kindly share this story: Nigeria’s liabilities to the World Bank and the African Development Bank rose from $7.14bn to $14.25bn between June 30, 2015 and March 31, 2021, data obtained from the Debt Management Office have shown. This means that the commitment of the banks to the country […]

Amarachi Orjiude 12 July 2021 Kindly share this story: Nigeria received about $8.4bn investment announcements as at 4th March 2021, out of which $5.46bn were pledged by foreign investors. The remaining $2.08bn was promised by domestic investors, statistics obtained from the Nigerian Investments Promotion Commission showed. The sum pledged by foreign investors in Q1 2021 […]

Nike Popoola 2 June 2021 Kindly share this story: alling to $34.24bn on May 28 from $34.88bn as of April 28. Figures obtained from the Central Bank of Nigeria on Tuesday revealed that the reserves had been fluctuating in recent weeks. Speaking on the decline at the recent Monetary Policy Committee meeting, the CBN Governor, […]

Femi Asu Petrol usage jumped from 57.44 million litres in November to 72.72m in DecIndependent marketers berate security agencies, say fuel trucks not needlePetrol supply by the Nigerian National Petroleum Corporation hit a high of 72.72 million litres daily in December amid the smuggling of the product to neighbouring countries, ’FEMI ASU reports The supply […]

Sunday Aborisade The Senate Public Accounts Committee has again summoned the management of the Nigerian National Petroleum Corporation over alleged non-remittance of N4.07tn to the Federation Account between 2010 and 2016.The management of the NNPC had appeared before the Senate panel penultimate week to explain how the N4.07trn was spent.The firm had presented a written […]

Femi AsuThe government-owned refineries, being run by the Nigerian National Petroleum Corporation, reported a total loss of N778.71bn from 2015 to 2019, an analysis of data collated from their financial statements has shown.The refineries generated total revenue of N21.12bn in the five-year period as they operated at below their full capacities.The refineries, which are located […]

The consumer price index which measures inflation increased by 17.33 per cent (year-on-year) in February 2021.The National Bureau of Statistics on Tuesday revealed this in its report on Consumer Price Index for the month of February.This marked the highest figure recorded in the country since 2017.According to the NBS, the February rate is 0.86 per […]

Published March 15, 2021 Okechukwu Nnodim and Joseph OlaoluwaPump price doesn ’ t reflect market forces , petrol being subsidised – NNPCPrivate sector won ’ t invest in oil sector if subsidy continues, says LCCIThe Nigerian National Petroleum Corporation may spend N 102. 96 bn on petrol subsidy this month going by the recent pricing […]