The National Bureau of Statistics (NBS) has reported that Nigeria’s All-Commodity Group Import and All-Commodity Group Export Price indices increased in the third quarter of this year. In its ‘Commodity Price Indices and Terms of Trade (Q3 2023)’ report just published on its website, the Bureau indicated that the All-Commodity Group Import Index on average […]
…..As Kerosene’s Surges 18.78% The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 5.82% on a month-on-month basis from N4,562.51 recorded in October 2023 to N4,828.18 in November 2023, the National Bureau of Statistics (NBS) has reported The statistics agency, in its ‘Liquefied Petroleum Gas (Cooking Gas) […]
Apart from Lagos, Nigeria’s economic capital, Ogun State is Nigeria’s most economically viable state, a report by Economic Confidential, a subsidiary of PR Nigeria, has indicated. Pointing to Ogun State’s status as Nigeria’s topmost investment destination after Lagos, the report showed that the Dapo Abiodun-led Ogun State outperformed Rivers State, which joined Lagos and Ogun […]
With the removal of fuel subsidy last June by the President Tinubu’s administration, travellers in the country have been paying higher fares for all modes of transportation, with the average intercity transport fare per drop surging by 61.27% last November for road travels. The National Bureau of Statistics, in its ‘Transport Fare Watch (November 2023)’ […]
Following remarkable efforts of the President Bola Tinubu-led administration to attract foreign investments into key sectors of the nation’s economy at the just concluded Conference of Parties (COP28) in Dubai, the Nigerian National Petroleum Company Limited (NNPCL) has signed a Memorandum of Understanding (MoU) with TotalEnergies for the adoption and deployment of a methane detection […]
The Lagos State Government has announced plans to deploy about 1,000 Compressed Natural Gas (CNG)-buses before the end of 2024 in furtherance of its efforts to provide affordable transportation to commuters in the state. Following the completion of proof of concept on the feasibility of use of non-combustible engines as substitute for fuel-powered vehicles, the […]
The Council of the European Union (EU) and the Parliament have come to a provisional agreement on amendments to the Solvency II directive, which they say will “boost the role” of the re/insurance sector and make it a more resilient and prepared industry for the benefit of policyholders. After a review of Solvency II following […]
President Tinubu has approved a 50% discount on road transport travel across the country from December 21, 2023, to January 4 next year. The Minister of Solid Mineral Development, Dele Alake, who disclosed this to journalists at the State House in Abuja said the action was part of Tinubu’s initiatives aimed at easing the lives […]
The Nigerian National Petroleum Company Limited (NNPCL) on Monday set a production target of two million barrels per day of crude oil in 2024. The Chairman of the NNPCL Board, Mr Pius Akinyelure, set the target after the official inauguration of the board and management team for the NNPCL by President Bola Tinubu at the […]
The new Managing Director/Chief Executive of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku, has assured all stakeholders in the aviation sector that the agency will continue to be the bastion of excellent service delivery in the country. She said this while meeting the top management of the agency and journalists after receiving […]