Prince Shuaibu Audu: The Man Determined to Turn Steel to Oil, by Abdullahi O.Haruna
The story of Nigeria's steel industry invokes a somber account of a corroded and rusted sector, exemplified by the comatose of the Ajaokuta Steel Company. The...
Nigeria Loses N34.1bn As Oil Firms Flare 12.7 mscf
Despite Nigeria’s dwindling revenue, oil and gas companies operating in the country flared 12.7 million standard cubic feet (mscf) of gas in July 2023, according to the latest data from the...
In July, Lending, Savings Rates Hit 22.14% – Report
The gap between the maximum lending rate and savings deposit rate in the banking sector widened by 22.14 per cent in July.
Banks savings deposit rate rose slightly to 5.24 per cent...
Manufacturers’ Raw Material Imports Hit N8trn In Three Years
Manufacturers have spent at least N7.9tn to import raw materials in the past three years.
According to manufacturers, the high raw materials imports bill is due to operators’ decision to source foreign...
NSIA Commits $500m To Domestic Infrastructure
The Managing Director & Chief Executive Office, Nigeria Sovereign Investment Authority (NSIA), Mr Aminu Umar-Sadiq, yesterday disclosed that the Authority has committed $500 million to domestic infrastructure, whilst also enabling third party investments of...
Water Transportation Fare Increases By 45%, According To NBS
The average fare paid for water transport in June 2023 rose to N1,366.22, a 44.84 per cent rise from N943.26 in June 2022, the National Bureau of Statistics (NBS) has disclosed...
