Group commends Tinubu’s Economic Reform over Impressive Growth Performance

BusinessEconomyNewsNigeriaGroup commends Tinubu’s Economic Reform over Impressive Growth Performance

Uzoamaka Ikezue (Staff Reporter)February 28, 2025

A policy group, Independent Media and Policy Initiative (IMPI) has said has hailed President Bola Tinubu’s economic reform, saying that the impressive performance of the 2024 Gross Domestic Product (GDP) is an affirmation of the good work the President is doing. The group in a press statement issued by its Chairman, Dr. Omoniyi M. Akinsiju on Friday noted that the performance of the Nigerian economy in the 12 months of last year beats projections made...

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Dangote Refinery Sells Petrol At ₦825 Per Litre

BusinessEconomyNewsNigeriaDangote Refinery Sells Petrol At ₦825 Per Litre

Hassan Umar Shallpella (Regional Correspondent)February 27, 2025

The Dangote Petroleum Refinery and Petrochemicals has announced another reduction in petrol prices, marking the second cut this month. In a statement issued Wednesday in Lagos, the company’s Head of Media Communications, Anthony Echiejina, confirmed a ₦65 reduction, bringing the ex-depot price down to ₦825 per litre from the previous ₦890 per litre. It described the move as a relief measure, particularly with Ramadan approaching, and a step towards supporting President Bola Ahmed Tinubu’s economic recovery...

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Petrol Cost Drops Again as Dangote Refinery Cuts Price to ₦825 Per Litre

BusinessEconomyNewsNigeriaPetrol Cost Drops Again as Dangote Refinery Cuts Price to ₦825 Per Litre

By Ezinwanne Onwuka (Senior Reporter)February 27, 2025

Dangote Petroleum Refinery has slashed the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to ₦825 per litre. The Head of Media Relations and Branding Communications at Dangote Group, Esan Sunday, announced the price adjustment in a statement on Wednesday. The latest reduction follows a previous cut from ₦950 to ₦890 per litre, marking a total decrease of ₦125 within a few weeks. “This recent price reduction will also ensure that Nigerians...

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World Bank to Lend Nigeria $2.2bn in 2025 for Development Projects

BusinessEconomyNewsNigeriaWorld Bank to Lend Nigeria $2.2bn in 2025 for Development Projects

By Ezinwanne Onwuka (Senior Reporter)February 27, 2025

The World Bank has outlined plans to provide Nigeria with a fresh $2.2 billion loan in 2025, with the funds earmarked for six development projects spanning economic recovery, education, health, and digital infrastructure. According to the Washington-based institution’s project list, the first tranche of $500 million is designated for the ‘Community Action for Resilience and Economic Stimulus Programme’ and is expected to be approved by 17 March. On 31 March, another $552 million will be...

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Aviation Minister Restates Commitment To Workers’ Welfare 

BusinessNewsNigeriaPoliticsAviation Minister Restates Commitment To Workers’ Welfare 

Uzoamaka Ikezue (Staff Reporter)February 27, 2025

The Minister of Aviation and Aerospace Development, Festus Keyamo has restated commitment to unionism and the welfare of aviation workers. The Minister disclosed this on Wednesday  while delivering a keynote address at the 11th Edition of Aviation Workers’ Week and Award Night in Abuja. The event, with the theme: “The Role of Aviation Trade Unions in Galvanizing Workers’ Support for the Attainment of Ministerial Mandates.”  brought together key stakeholders, including heads of agencies under the...

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CBN Maintains 27.5 Per Cent Interest Rate to Tackle Inflation

BusinessNewsNigeriaCBN Maintains 27.5 Per Cent Interest Rate to Tackle Inflation

By Ezinwanne Onwuka (Senior Reporter)February 20, 2025

The Central Bank of Nigeria (CBN) has maintained the Monetary Policy Rate (MPR) at 27.5 per cent, following six consecutive hikes last year. This decision comes amidst observed stability in the foreign exchange market and a gradual decline in inflation rates. CBN Governor, Olayemi Cardoso, addressed the press in Abuja, expressing satisfaction with recent macroeconomic trends. He noted, “Inflation is trending down, and it’s looking positive,” emphasising the bank’s objective to reduce inflation to single-digit...

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EU, ENSG Partners On Renewable Energy Initiatives

BusinessNewsNigeriaEU, ENSG Partners On Renewable Energy Initiatives

Ije Ulasi (Regional Correspondent)February 12, 2025

The European Union, EU, and the Enugu State Government have agreed to collaborate in power and infrastructure sectors for sustainable economic growth and development. The Head of Cooperation at the European Union Delegation to Nigeria and ECOWAS, Mr. Massimo De Luca, disclosed this intention on Tuesday at a meeting with the Enugu State Governor, Dr. Peter Ndubuisi Mbah at the Enugu State Government House. “A specific focus which has emerged over the last couple of...

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MTN Raises Data Prices by 200%, 15GB Plan Jumps from ₦2,000 to ₦6,000

BusinessNewsNigeriaMTN Raises Data Prices by 200%, 15GB Plan Jumps from ₦2,000 to ₦6,000

By Ezinwanne Onwuka (Senior Reporter)February 11, 2025

…Telecoms increase text message cost to ₦6.00 MTN Nigeria has increased its data prices following the recent approval by the Nigerian Communications Commission (NCC) allowing telecom operators to implement up to a 50 per cent tariff adjustment. The sharp increase, which has sparked widespread outrage among subscribers, saw the price of MTN’s 15GB weekly data plan jump from ₦2,000 to ₦6,000—a 200 per cent hike. Other data plans have also been adjusted, with the 75GB...

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Kaduna Closes United Nigerian Textiles Ltd Over N1.2bn Unpaid Revenue

BusinessNewsNigeriaKaduna Closes United Nigerian Textiles Ltd Over N1.2bn Unpaid Revenue

Hassan Umar Shallpella (Regional Correspondent)February 1, 2025

The United Nigerian Textiles Limited, UNTL has owed Kaduna State Government substantial revenue totaling N1.2 billion. Following the failure of the company to offset the liabilities, the Kaduna State government has sealed the company. Aisha Ahmed, the Executive Board Secretary of Kaduna State Internal Revenue Service, KADIRS stated this in Kaduna during an enforcement operation, said intelligence information revealed that the company planned to relocate from Kaduna, adding that the company must pay what it...

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NLC to Protest Nationwide Against Planned 50% Hike in Telecom Tariffs

BusinessNewsNigeriaPoliticsNLC to Protest Nationwide Against Planned 50% Hike in Telecom Tariffs

By Ezinwanne Onwuka (Senior Reporter)January 29, 2025

The Nigeria Labour Congress (NLC) has announced a nationwide protest scheduled for Tuesday, 4 February 2025, to resist the proposed 50 per cent increase in telecommunication tariffs. In a communiqué issued at the end of its National Administrative Council (NAC) meeting held in Abuja, NLC President, Joe Ajaero, stated that the mass rally would take place in all 36 states of the federation, including the Federal Capital Territory. “To express our collective opposition to this...

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