Economy News Extra Infrastructure & Capital Projects Latest News Power/Electricity

FG Reassures Nigerians On Cleaner Electricity

The Minister of State for Power, Prince Goddy Agba, on Friday reassured Nigerians on Federal Government’s commitment to improve power generation and distribution in the country through investments in environmental-friendly power generation technologies nationwide. The Minister, who gave the assurance during the Commissioning of 60kWP Solar Hybrid Mini-Grid Electrification project by Rural Electrification Agency, REA, […]

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NAICOM Boss Tasks Insurers, Bankers On Insurance Penetration

The Commissioner for Insurance at the National Insurance Commission (NAICOM), Mr. Sunday Thomas, on Thursday solicited the cooperation of insurance entities and banks in the current drive to deepen insurance penetration in the country. The industry regulator, who canvassed the collaboration of the stakeholders in the financial system in the efforts to deepen and improve […]

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Heritage Bank, RTEAN Partner On Travellers’ Accident Insurance Scheme

Heritage Bank, one of Nigeria’s leading banks, has partnered the Road Transport Employee’s Association of Nigeria (RTEAN) with the launching of the Travelers’ Accident Insurance Scheme (TAIS) to assist road accident victims in the country. The scheme aims to address deaths associated with inability of travelers involved in accident to offset hospital bills. Speaking during […]

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NCC Cautions Telecom Subscribers On Sharing Of Phones, SIM, NIN

The Nigerian Communications Commission (NCC) has warned telecom subscribers in the country to avoid sharing their cell phones, National Identity Number (NIN), and Subscriber Identification Module (SIM) cards with others in view of the risks. The commission’s Director Consumer Affairs Bureau, Mr. Efeosa Edehen, who gave the warning on Thursday at a consumer conversation event […]

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Customs’ Apapa Command Generates N65.4Bn In April

The Area Comptroller of the Apapa Area Command of the Nigeria Customs Service (NCS), Comptroller Ibrahim Yusuf, on Thursday disclosed that the Command generated N65,463,398,355.85 in April, representing 64 percent increase over the N25,585,561,139.92 raked in April 2020. Yusuf, who spoke at a media briefing, said that during the month in review, the Command intercepted […]

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UK Parliamentary C’mttee Lauds AfDB On COVID-19 Interventions

The UK House of Commons’ International Development Committee has commended the African Development Bank (AfDB) on its COVID-19 interventions in various countries in the continent and the UK Government’s support to the bank on its funding interventions. The report was prepared by the Sub-Committee on the Work of the Independent Commission for Aid Impact (ICAI). […]

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CBN Announces Continuation Of ‘Naira 4 Dollar Scheme’

The Central Bank of Nigeria (CBN) on has extended the operations of the ‘Naira 4 Dollar Scheme’ until further notice. The apex bank stated this in a circular signed by its Director, Trade and Exchange Department, Mallam Saleh Jibrin, titled ‘Re: Introduction of the CBN’s “Naira 4 Dollar Scheme’’ for Diaspora Remittances”. It stated: “Further […]

Banking Economy News Extra Latest News Manufacturing

Stanbic IBTC Reports 2.9% Growth In Manufacturing PMI

Stanbic IBTC Bank Plc, one of Nigeria’s licensed Deposit Money Banks (DMBs) has reported that the Nigerian Manufacturing Purchasing Manufacturing Index (PMI) grew by 2.9 percent in April, 2021 on rising growth in output and new orders. The PMI report indicated that manufacturers increased their workforce and inventory holdings in anticipation of greater demand, while […]

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Organised Labour Rejects Proposed Cut In Workers’ Salaries

The Nigeria Labour Congress (NLC) has rejected a statement credited to the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, on plans by the Federal Government to cut salaries of public servants, warning that that such a statement could further worsen the nation’s current socio-economic crisis. The President of the NLC, Mallam Ayuba […]

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Lagos Has Spent N20Bn On Imota Rice Mill So Far – Commissioner

Lagos State Government has committed N20 billion on the construction of the 32 metric tonnes per hour Imota Rice Mill in the state. The state Commissioner for Agriculture, Ms Bisola Olusanya, gave this hint on Thursday during a ministerial press briefing to mark Governor Babajide Sanwo-Olu’s second anniversary in office. The N25 billion the rice […]