We didn’t increase petrol price, marketers did –FG

The Federal Government has insisted that it had not raised the pump price of Premium Motor Spirit, popularly called petrol, above the regulated cost of N165/litre. It said the hike in the cost of the commodity, currently between N175/litre and N230/litre, depending…

FG to fund 100,000 houses with N712bn mortgage 

The Federal Government has said it was working to increase mortgages provided to contributors under the National Housing Fund to the tune of N712bn for the financing of about 100,000 housing units across the country. It disclosed this at the inaugural Board…

NNPC remits $2.7bn to CBN in six months

The Nigerian National Petroleum Company Limited remitted a total of N2.7bn into its accounts with the Central Bank of Nigeria from January to June this year, a document on NNPC remittances to CBN seen in Abuja on Sunday showed. Contradicting the claims…

CBN should abolish official exchange rate – BDC operators. 

The Association of Bureaux Des Change Operators of Nigeria has urged the Central Bank of Nigeria to float the naira to halt its further depreciation. The President of ABCON, Alhaji Aminu Gwadabe, made the appeal on Saturday in an interview with the…

Rate hike will trigger higher prices, MAN warns

The Manufacturers Association of Nigeria has warned that the recent increase in base lending rate by the Monetary Policy Committee of the Central Bank of Nigeria will trigger higher prices of products, amongst other negative consequences. MAN stated this in a statement…

No immediate solution to aviation crisis – Federal Government.

There are no immediate solutions to the current crisis rocking Nigeria’s aviation sector as the cause of the major challenge in the industry is a global issue, the Federal Government declared on Tuesday. Although the government stated that it was making efforts…

Ukraine: IMF cuts global growth, retains Nigeria’s forecast.

The International Monetary Fund has cut its global economic growth forecast for 2022 to 3.2 per cent in its report titled ‘Gloomy and more uncertain’, as the Ukraine-Russia conflict continues to disrupt the global supply chain. The Washington-based lender had in the…

Bakers end strike, hike bread price again

The Premium Breadmakers Association of Nigeria says it has suspended its four-day warning strike which began on Thursday. Speaking with news men, the PBAN President, Emmanuel Onuorah, said his members had resolved to increase prices of bread in order to cushion the…

X