The National Bureau of Statistics (NBS) has launched a new ‘Cost of a Healthy Diet’ (CoHD) indicator for the fourth quarter of 2023 in furtherance of its statutory mandate of providing evidence-based and timely statistical data for Nigeria’s sustainable development. The CoHD indicator was produced by the statistics agency in collaboration with one of the […]
Transportation
Court Adjourns Suit On Proof Of Vehicle Ownership Levy
A Federal High Court sitting in Abuja on Tuesday adjourned a suit seeking to stop the imposition of an annual levy for a certificate of proof of vehicle ownership in the country till March 4, 2024. The Federal Government had in June 2023 introduced an annual fee of N1,000 payable by all motorists for Proof […]
FX Backlog: CBN Offsets Final Tranche Of Airlines’ Verified Claims
The Central Bank of Nigeria (CBN) has announced the final payment of all verified claims by airlines with an additional $64.44 million paid to the affected airlines in fulfillment of its pledge to clear the backlog of foreign exchange (FX) owed foreign airlines in the country. Confirming the payment on Tuesday, the Acting Director of […]
CBN Injects $500Mn Into FX Market For Outstanding Commitments
The Central Bank of Nigeria (CBN) announced the release of another $500 million into the foreign exchange (FX) market as part of its monetary measures to boost liquidity in the market and by so doing, stimulate growth in the economy. The latest injection of another tranche of $500 million into the FX market came just […]
Crown Takaful Insurance Secures NAICOM’s Approval To Commence Operations
Barely three months after the issuance of approval in principle by the National Insurance Commission (NAICOM), the management of Crown Takaful Insurance Limited on Monday, December 18, received the operating licence from the industry regulator authorizing the company to commence business for the benefits of Nigerians nationwide. As a modern concept of ethical insurance, Crown […]
Lagos State Mulls Investment In Airline Business
Lagos State Government has unfolded plans to establish a commercial airline business as it prepares for the groundbreaking of the construction of its own airport in Lekki axis of the state. Governor Babajide Sanwo-Olu disclosed the plan on Thursday at the Lagos West Senatorial District People’s Town Hall Meeting, where he highlighted the achievements of […]
FGN, Morocco Reopen Parley On Nigeria-Morocco Gas Pipeline Project
The Federal Government of Nigeria and the Kingdom of Morocco have reopened their discussions to fast-track the process of achieving the Final Investment Decision (FID) on the Nigeria-Morocco gas pipeline project. The parley took place on the sidelines of a meeting between the Minister of State for Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, and the […]
Abiodun Seeks Lafarge, Others’ Support On Abeokuta-Ota-Lagos Highway Reconstruction
Ogun State Governor, Prince Dapo Abiodun, has called for the support of Lafarge and other multinational companies operating along the Abeokuta-Ota-Lagos Expressway as his administration continues to make efforts to reconstruct the highway. The governor said that reconstructing the road would have multiplier effects on the socio-economic development of the state, while companies who have their […]
Cabotage: NIMASA, Dangote Group Set Up Committee To Harmonise Refinery’s Operations
Following the coming on stream of the Dangote Refinery a few weeks ago, the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Dangote Group have set up a joint committee to harmonise the operations of the refinery in line with the provisions of the Coastal and Inland Shipping Cabotage Act 2003. The initiative was […]
Nigerians Pay Higher For Food Items In December 2023
The latest publication by the National Bureau of Statistics (NBS) titled ‘Food Prices Selected Food Prices Watch (December 2023’ reflected that consumers paid more for major food items in December 2023. The report, which was published on Wednesday by the national statistical system coordinating agency, showed that the average price of 1kg Rice local sold […]