Despite promises by the BUA Cement’s management to deliver cement at lower prices to consumers this year, a new report by Cardinal Stone, a full-service investment banking and multi-asset management firm, has projected that prices of the commodity may further soar this year. The just published report titled “Nigeria Cement Rebounding from a Tumultuous Year” […]
Dangote Refinery has expressed its readiness to start refining operation following the delivery of the sixth batch of barrels of crude supplied by the Nigeria National Petroleum Company Limited (NNPCL). The one million barrels of crude oil delivered by MT ALMI SUN at the Single Point Mooring (SPM-C2) at the Dangote Offshore Oil Terminal (DOOT) […]
The National Bureau of Statistics (NBS) has reported that the total number of road traffic crashes dropped to 2,187 in Q3 2023, from 3,412 in the corresponding quarter of last year, indicating a decrease of 35.90% year-on-year. The latest report by the Nigeria’s statistics coordinating agency titled ‘Road Transport Data Q3 2023’ published on its […]
BudgIT, one of the leading civic-tech civil society organizations championing transparency, accountability, and effective service delivery in Nigeria, has commended the Federal Government for taking a step toward transparency by publishing the 2024 proposed budget of Government-Owned Enterprises (GOEs) in the country. The CSO noted that the latest move by the government was partly in […]
Experts in Nigeria’s hydrocarbon resources industry foresee that the planned commitment of about $13.5 billion in upstream oil and gas investment by oil majors could serve as stimulus to help Nigeria achieve its 2.6 million barrels per day (mb/d) production target in the next three years. President Bola Tinubu had expressed the readiness of the […]
Gallagher Re, one of the leading global reinsurance brokerage firms, has reported that as of January 1st, 2024, reinsurance renewals, U.S property catastrophe incidents increased by as much as 50% for loss-hit business, primarily driven by record severe convective storm (SCS) activity. In its just released ‘1st View Report’, which discusses an overall more stable […]
The latest Stanbic IBTC Purchasing Managers Index (PMI) for Nigeria has reflected that the organized private sector (OPS) posted improved growth to 52.7 in December 2023, up from 48.0 recorded in the preceding month. However, despite the improved performance of the private sector, the business outlook of the economy for the new year ebbed to […]
The Lagos Chamber of Commerce and Industry (LCCI) on Monday charged the President Bola Tinubu-led administration on prevailing economic challenges in the country and specifically to provide more detailed plans and strategies to tackle inflation, under-employment, insecurity, and social inequality in the country. The leading organized private sector (OPS) group, in its statement on the […]
President Bola Tinubu has signed the N2.2 trillion supplementary budget for 2023, which will be concurrently implemented with the 2024 budget until March this year. The Speaker of the House of Representatives, Hon. Tajudeen Abbas, who made this disclosure during a media chat at the Presidential Villa on Monday, said that already the President had […]
President Bola Tinubu on Monday signed the 2024 Appropriation Bill into law in keeping with his commitment to maintaining a timeous, predictable, and efficient budget cycle for the country. The top priorities of the 2024 budget of N28.7 trillion include defence and internal security, job creation, macro-economic stability, improved investment environment, human capital development, poverty […]