…says deficit rose from N1.4trn to N4.2trn The Debt Management Office (DMO) has said that the advent of the Coronavirus (COVID- 19) pandemic worsened Nigeria’s economic woes, as it forced the deficit in the 2020 budget to rise from N1.4 trillion to a whooping N4.2 trillion and triggered more borrowing to keep the economy afloat. […]
Oba of Benin, Oba Ewuare 11, yesterday, warned politicians against setting the state on fire over the forthcoming governorship election. The monarch, who gave the warning, while speaking during a peace meeting he initiated for critical stakeholders in the gubernatorial contest, expressed worry over the spate of violence across the state ahead of the September […]
The Federal Government has cut the number of directorates in the Nigerian Civil Aviation Authority (NCAA) to six from nine. This is coming as three directors have been relieved of their duties in what the aviation regulatory body termed restructuring. Director-General of NCAA, Capt. Musa Nuhu, in a statement yesterday, disclosed that the directorates which […]
Govt targets $176bn revenue, 20 years concession Abuja, Lagos, PH, Kano airports’ towers get N13bn The Federal Executive Council (FEC) has approved $3.1 billion for the completion of the automation of the Nigeria Customs Service (NCS). This entails that processes and procedures are automated using information and technology application in all aspects of its operations. […]
Confusion rocked the downstream sub-sector of Nigeria’s oil industry yesterday, as the pump price of premium motor spirit (PMS) also known as petrol soared to as high as N161 per litre. New Telegraph had earlier, in an exclusive report, revealed the imminent hike in ex-depot price of the product, which led depot owners to embargo […]
The Nigeria Labour Congress (NLC) may once again shut down the economy to express its disappointment with what was described as Federal Government’s “insensitivity” in increasing the pump price of premium motor spirit (PMS) also known as petrol. Rejecting the increase in fuel pump price, NLC President, Comrade Ayuba Wabba, yesterday, said government’s insensitivity to […]
Nigeria recorded foreign trade deficit balance in the sum of N1.8 trillion in second quarter 2020, going by foreign trade data released yesterday by the National Bureau of Statistics (NBS). The total value of Nigeria’s foreign trade stood at N6.24 trillion in the quarter under review, representing a sharp fall of 27.30 per cent compared […]
Following another increment in pump price of Premium Motor Spirit (PMS), otherwise known as petrol, to N151.56 per litre, yesterday, members of the organised private sector (OPS) have said that the decision is inimical to businesses in the country. The OPS said for full deregulation in the downstream sector to exist in the country, it […]
Guaranty Bank Trust (GTBank) Plc has posted a profit after tax of N94.271 billion for the half year ended June 2020 in contrast to N99.138 billion posted in the same period of 2019, accounting for a drop of 4.90 per cent. This is contained in the bank’s unaudited financial result released by the Nigerian Stock […]
Researchers in the United Kingdom (UK) said a bulging belly may be bad for the heart and could also up the risk of dying from prostate cancer. A new study being presented this week at the virtual European and International Conference on Obesity in Dublin from September 1-4, 2020, established a link between high levels […]