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FG Introduces Fiscal Incentives To Boost Oil & Gas Sector’s Performance

    ….Targets $10Bn Foreign Direct Investment The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has signed the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector – a key component of the Federal Government’s fiscal reforms agenda aimed at enhancing the performance  of the […]

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Dana Air Incident: FAAN Announces Reopening Of Runway 18L/36R

The Federal Airports Authority of Nigeria (FAAN) has notified the public and all aviation stakeholders that Runway 18L/36R is now reopened for flight operations at 19:58hrs on Tuesday. It stated that the reopening of the runway followed its earlier closure due to an incident involving a Dana Air aircraft, with registration number 5N-BKI, which overshot […]

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FG Begins Disbursement Of N200Bn Intervention Fund To MSMEs, Manufacturers

The Federal Government has announced plans to commence the loan disbursement process for micro, small and medium enterprises (MSMEs) and manufacturers under the Presidential N200 billion Intervention Fund scheme. President Bola Tinubu launched the scheme on October 17, 2023, to cushion the effects of the removal of petrol subsidy on entrepreneurs. The Minister of Industry, […]

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Dangote Refinery Reduces Diesel Price To N940/Litre For Marketers

Dangote Refinery’s management  has announced a further reduction in the price of Automotive Gas Oil (AGO) diesel from the N1000/litre earlier reported last week to N940/litre for customers buying 5 million litres and above from the refinery. In a statement signed by the company’s Head of Communications, Mr. Anthony Chiejina the management maintained that the […]

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NASENI, Nasarawa Govt, Firm To Build Tractor Manufacturing Plant

The National Agency for Science and Engineering Infrastructure (NASENI) has opened discussions with Nasarawa State Government and Bobtrack Tractors, a division of Saint Bob Motors Limited, on the manufacturing and assembling of tractors in the North-Central geopolitical zone. A statement issued on Monday by the agency’s Director, Information, Segun Ayeoyenikan, on the multibillion Naira project […]

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Nigeria’s Economy Further Slips, Ranks 4th In Africa

Despite sundry reform initiatives of the President Bola Tinubu-led administration to revitalize the nation’s economy, latest forecast from the International Monetary Fund (IMF) indicated that Nigeria’s economy continued its unimpressive performance, dropping into the fourth position in Africa economies’ ranking chart. This is coming barely two years after it was ranked as Africa’s largest economy […]

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NSIA Restates Commitment To Accountability, Inclusiveness In Operations

  …As Comprehensive Income Surges By 1,122% In FY 2023 The Nigeria Sovereign Investment Authority (NSIA) on Thursday restated its continued commitment to strong corporate governance, accountability, transparency and inclusion of critical stakeholders in its continued strive to improve the nation’s infrastructure for improved performance of the economy and value-addition to socioeconomic well-being of the […]

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FG Restates Commitment To Improved FDI Inflows, Economic Growth

The Federal Government has assured that Nigerians and the global community that it will continue to highlight the progress made so far in its current drive to grow the Nigerian economy in order to attract more foreign investment into the country for socioeconomic well being of the citizenry. The Minister of Finance and Coordinating Minister […]

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Global Nat Cat Insured Losses Hit $20Bn In Q1 2024 – Gallagher Re

Gallagher Re has estimated that global insured losses from natural catastrophes in Q1 of 2024 were $20 billion, heavily driven by severe convective storm (SCS) activity in the US. According to the global reinsurance broker’s Natural Catastrophe & Climate Report, insured losses in Q1 2024 were 10% higher than the decadal average of $18 billion. […]

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FG Begins Disbursement Of Trade Grants To NANO Business Owners

The Federal Government has commenced the disbursement of the N50,000 Presidential Conditional Grant Scheme, also known as Trade Grants Scheme, to Nano businesses nationwide. The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) classifies Nano businesses as enterprises that have one or two workers and less than N3 million annual turnover. The Minister of […]