economy
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4 drug kingpins bag 95 years in jail, forfeit jeeps, others -— NDLEA
The National Drug Law Enforcement Agency (NDLEA) has announced the conviction and sentencing of four drug kingpins to a total of 95 years in prison by the Federal High Courts in Lagos and Yola, Adamawa. In a statement on Friday in Abuja, NDLEA’s Director of Media and Advocacy, Mr. Femi Babafemi, said the convicts were found guilty of trafficking cocaine…
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Stock market indices rebound, up 0.32%
The equity market indicators rebounded by 0.23 percent due to price appreciation in some medium and large capitalized stocks on Thursday. Specifically, the Nigerian Exchange Ltd. (NGX) market capitalization increased by N215 billion, or 0.32 percent, to N66.868 trillion from N66.653 trillion opened on Wednesday. The All-Share Index also rose by 0.32 percent, or 344 points, to close at 106,780.72…
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Be proud of National Theatre, defend it – CBN Governor
The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has called on Nigerians to take ownership of the revitalized National Arts Theatre as a vital repository of the nation’s history and culture. Cardoso made the call during an inspection of the Lagos landmark alongside members of the Bankers’ Committee on Thursday. The governor commended the vision and resources…
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Dangote cement reports N3.58bn revenue growth in 2024
Dangote Cement has reported a 62.2 percent revenue growth, reaching N3,580.6 billion in 2024. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) also grew by 56.0 percent to N1,388.2 billion, with a 38.6 percent margin. Arvind Pathak, Chief Executive Officer and Group Managing Director of Dangote Cement, disclosed this in a corporate filing with the Nigerian Exchange Ltd. (NGX). Pathak said, “We wrapped up…
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FG restates commitment to revamp, weed out fake cooperative societies
The Federal Government has reiterated its commitment to revamping cooperative societies and weeding out fake and corrupt ones who steal and scam innocent citizens. Sen. Aliyu Abdullahi, the Minister of State for Agriculture and Food Security, stated this in a statement issued by Mrs. Anthonia Eremah, the ministry’s Chief Information Officer, on Friday in Abuja. Abdullahi stated this at the…
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Ramadan: Sultan appeals to traders to reduce prices of goods
The Sultan of Sokoto and President-General, Jama’atu Nasril Islam (JNI), Muhammad Sa’ad Abubakar has appealed to traders in the state to reduce the prices goods during the Ramadan. The Sultan made the appeal in a statement issued by the Secretary-General, JNI, Prof. Khalid Aliyu, on Thursday in Kaduna. He also called on Muslims in the country to embody the values…
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Dangote reduces petrol price to N825 per litre
Dangote Petroleum Refinery and Petrochemicals has once again reduced the price of Premium Motor Spirit (PMS), also known as petrol, marking the second price cut this month. The company disclosed this in a statement signed by its Head of Media Communications, Mr. Anthony Echiejina, Wednesday in Lagos. It explained that the company had reduced the price by N65 from the…
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Tax reform bills to boost fiscal stability – FRC
Mr. Victor Muruako, Executive Chairman of the Fiscal Responsibility Commission (FRC), says tax reform bills will strengthen fiscal stability, improving efficiency, transparency, and accountability in tax collection and remittance. Muruako stated this at a public hearing organized by the Senate Committee on Finance on four tax reform bills at the National Assembly in Abuja on Monday. He stated…
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TAJBank gets new global rating, wins Islamic bank award
Nigeria’s fastest-growing non-interest banking services provider, TAJBank Limited, has consolidated its frontline position by winning an award at the just concluded Islamic Finance News (IFN) Awards in Dubai. According to a statement by its Managing Director, Hamid Joda, the bank won the “Best Islamic Bank in Nigeria” award through a global survey conducted by the IFN. Joda attributed the bank’s…
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Tinubu’s economic reforms making positive impacts – Ganduje
The National Chairman of All Progressives Congress (APC), Dr. Abdullahi Ganduje, has extolled the ongoing economic reforms being implemented by President Bola Tinubu, saying that they were already yielding positive results. Ganduje made this statement during an empowerment program’ organized by the Deputy Senate President, Barau Jibrin, where 1,200 vehicles and motorcycles were distributed to party leaders on Sunday in…
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Many FG workers decry high taxes amid low income
Many Federal Government workers have continued to express concern about the high income taxes that are deducted from their salaries monthly through the Pay As You Earn (PAYE) model. The civil servants, who spoke to the News Agency of Nigeria (NAN) on Sunday in Abuja, said that it was frustrating given the country’s current economic situation. They demanded an immediate…
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First Lady empowers 500 women with household items in Nasarawa
The First Lady, Sen. Oluremi Tinubu, on Friday empowered 500 women with household items in Nasarawa State. The items comprised deep freezers, gas cookers, power generators, and grinding machines. Speaking at the flag-off of the distribution in Lafia, Tinubu said that the empowerment was part of the Renewed Hope Initiative of the Federal Government, toward a better life for families.…
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Nigeria woos China to advance economic diversification agenda
The Federal Government on Thursday called for deeper bilateral cooperation with China towards advancing Nigeria’s economic diversification agenda. The Minister of State for Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu, called for cooperation in a statement following the visit of the Chinese Ambassador to Nigeria, Yu Dunham, to the Ministry. In the statement by Magnus Eze, the minister’s Special Assistant on Communication…
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Take tough decisions to make Africa better, Tinubu tells leaders
President Bola Tinubu on Thursday in Abuja urged African leaders to take tough decisions to make the continent a better place. The president gave the charge at the inauguration of Babangida’s autobiography, ”A Journey in Service,” and the fundraising for the IBB Presidential Library Project. The president particularly called on Nigerians to refocus their time, energy, and resources on building…
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FG seeks donor support to revive steel industry
The Ministry of Steel Development is seeking technical and financial assistance from donor agencies to revive the Ajaokuta Steel Company Limited (ASCL) and the National Iron Ore Mining Company (NIOMCO). Its Minister, Prince Shuaibu Audu, made this appeal during a meeting with donor agencies on Tuesday in Abuja. Audu stated that the ministry’s primary focus was the revitalisation…
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Nigeria’s inflation rate declines to 24.48% in January- NBS
The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate declined to 24.48 percent in January 2025. This is contained in the Consumer Price Index (CPI) rebased results released in Abuja on Tuesday. The News Agency of Nigeria (NAN) reports that the headline inflation rate for December 2024 was 34.80 percent. The Statistician-General (S-G) of the Federation, Adeyemi Adeniran,…
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We are struggling to survive, small business owners cry out
Small business owners in the Federal Capital Territory (FCT), say they are struggling to survive amid skyrocketing costs of electricity tariff, transportation, and telecommunications. The entrepreneurs told the News Agency of Nigeria (NAN) on Sunday in Abuja that they no longer break even, and were barely trying to keep their businesses afloat. Some traders, artisans, and service providers told NAN…
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