LATEST ARTICLES

CBN Retains Benchmark Lending Rate At 13.5%

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday retained the Monetary Policy Rate at 13.5 per cent. The CBN Governor, Mr Godwin Emefiele, announced the decision of the Committee at the end of its two-day meeting...

Oil Crash Forces Seplat, Shell To Cut Spending

A major Nigerian independent oil and gas firm, Seplat Petroleum Development Company Plc, is looking to cut costs by at least 30 per cent to counter a crash in crude prices, its Chief Financial Officer, Roger Brown, has said. Royal...

Nigeria Slashes Crude Selling Prices To Woo Buyers

Nigeria has cut the official selling prices for its crude oil to record lows to clear a glut of unsold April-loading cargoes before releasing the May programme on Monday. The country has had to grapple with an unprecedented excess of...

Petrol: Government Consults On Pump Price Reduction

The Federal Government has begun consultations with relevant stakeholders on a possible reduction of the pump price of petrol in the wake of the crash of crude oil prices globally. The Minister of State, Petroleum Resources, Mr Timipre Sylva, disclosed...

Customs Promote 2,974 Officers

The Comptroller-General of Customs, Col. Hameed Ali (retd.), has approved the promotion of 2,974 junior officers to various ranks. The promotion was confirmed in a statement issued on Friday by the Public Relations Officer of Customs, Mr Joseph Attah. The statement...

Naira Improves As Dollar Sells For N380

The naira traded between N364 and N380 to a dollar on Friday at the Bureau De Change segment of the market, recording an improvement over its previous exchange rates earlier in the week. On Thursday, the naira exchanged between N405...

No Plan For Naira Devaluation- Apex Bank

Despite a slump in the global economy as a result of the negative impact of the coronavirus pandemic, the Central bank of Nigeria (CBN) on Thursday insisted the time was not ripe for the call for the devaluation of...

Enugu Airport To Be Reopened Before Easter- Minister

The Akanu Ibiam International Airport, Enugu, which was closed in August 2019 for rehabilitation work, will be reopened for use before Easter 2020, the Minister of Aviation, Senator Hadi Sirika, has said. Sirika gave the commitment after an inspection visit...

Shake-up As NNPC Asks 40 GGMs, GMs To Leave

The management of the Nigerian National Petroleum Corporation has retired about 40 group general managers and general managers at the oil firm. It was gathered on Thursday in Abuja that the affected GGMs and GMs were asked to leave the...

Crashing Oil Price, Reason To Diversify Economy – Buhari

President Muhammadu Buhari has said that the sudden crash in crude oil price by 45 per cent heightens the need for Nigeria to promote growth in other sectors of its economy. Buhari stated that the development, occasioned by the outbreak...