Tinubu’s Economic Optimism Masks CBN’s Tough Tactics Nigeria’s President, Bola Tinubu, exudes confidence in the nation’s economic trajectory, urging citizens to anticipate better days ahead. However, behind this optimism lies a complex interplay between fiscal decisions and the Central Bank of Nigeria’s (CBN) stringent monetary policies. Tinubu’s assertions of economic improvement during his Easter message…
Landmark CEO Addresses Concerns Over Coastal Highway’s Impact on Landmark Beach Resort Paul Onwuanibe, CEO of Landmark Africa Group, reassured the public that the construction of the Lagos-Calabar Coastal Highway is unlikely to disrupt operations at Landmark Beach Resort. Speaking via his official X (formerly Twitter) account, Onwuanibe responded to growing concerns and media attention…
– Band A Consumers Demand Downgrade Due to Under-Supply, Tariff Hike – Consumer Network Reports Ongoing Insufficiency in Electricity Supply PowerUp Nigeria Urges Government Awareness Campaigns for Consumers Following dissatisfaction among Band A consumers over the persistent under-supply of electricity by Distribution Companies (DisCos), several communities have sought to downgrade their band classification to Band…
Report: Nigeria Incurs N720 Billion Revenue Loss Due to Decreased Crude Oil Production As reported on April 15, 2024, Nigeria faced a significant revenue setback amounting to approximately N720 billion due to consecutive declines in crude oil production during February and March of the same year. The inability to meet the crude oil production benchmark…
Petroleum Minister Attributes Q1’s Low Crude Oil Production to Trans-Niger Pipeline Issues The Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, has identified problems with the Trans-Niger pipeline and maintenance activities by certain oil companies as the primary reasons for the low crude oil production in the first quarter of the year. Assuring that…
Nigerian Customs Command Reports Impressive Revenue Growth in Q1 2024 The Port & Terminal Multipurpose Limited (PTML) Command of the Nigeria Customs Service has announced a significant increase in revenue collection for the first quarter of 2024. According to Muhammad Yakubu, the command’s Public Relations Officer, the PTML Command collected N66.9 billion in revenue during…
SERAP Urges Tinubu to Disclose Nigeria’s Loan Agreements Since 1999 In a recent plea to President Bola Tinubu, the Socio-Economic Rights and Accountability Project (SERAP) has called for transparency regarding the loan agreements and expenditure particulars of loans secured by Nigeria’s previous administrations since May 1999. SERAP has urged Tinubu to instruct relevant government bodies…
Ministers Reveal Major Increase in Revenue Remitted to Federal Government Nigeria’s Minister of Finance and Coordinating Minister of Economy, Wale Edun, has announced a significant surge in revenue remitted to the Federal Government by ministries, departments and agencies (MDAs) and government-owned enterprises (GOEs). In February 2024, these entities remitted a combined N835.7 billion to the…
Nigeria Secures Remaining $1.05 Billion from Afrexim Bank’s Oil-Backed Loan Nigeria is set to receive the remaining $1.05 billion from a $3.3 billion loan facility provided by the African Export-Import Bank (Afrexim Bank), backed by oil revenues. The disbursement of the balance is expected by the end of May, aimed at revitalizing the economy and…
Here is my rewritten version of the report:Nigeria’s Crude Oil Production Continues Downward Spiral, Now at 1.23 Million Barrels Per Day Nigeria’s crude oil production has experienced its second consecutive monthly decline since the start of 2024, according to the latest Monthly Oil Market Report for April released by the Organization of Petroleum Exporting Countries…
