FG Revokes 1,357 Housing Units Allocation Over Default Payment The Federal Government has revoked the provisional allocation of houses under the National Housing Programme for 1,357 beneficiaries across 33 states due to failure to complete outright payment within the stipulated timeframe. The Federal Ministry of Housing...

Net FX Reserves Hit $23.11bn in 2024, Says CBN Nigeria’s net foreign exchange reserves rose significantly to $23.11bn at the end of 2024, marking the highest level in over three years, according to the Central Bank of Nigeria. In a press statement on Tuesday, the apex...

NESG Calls for VAT Hike to Sustain Govt Revenue The Nigeria Economic Summit Group has warned that the Federal Government could face revenue shortfalls if it does not increase the value-added tax rate as part of the ongoing tax reform process. The Chief Executive Officer of...

FG to Revoke License of Dormant Oil Blocks  The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, threatened to withdraw oil blocks from owners that have failed to develop them. This is against the backdrop of the Federal Government calling on international oil companies operating...

Tinubu Sacks Kyari as NNPCL Boss, Appoints Ojulari President Bola Tinubu has sacked the Group Chief Executive officer of Nigerian National Petroleum Company Limited board, Mele Kyari and its chairman, Pius Akinyelure. Consequently, the President appointed Bashir Ojulari as the new CEO, effective from April 2,...

NSDC, BOI Sign MoU on Sugar Project Financing The National Sugar Development Council (NSDC) has signed a Memorandum of Understanding (MoU) with the Bank of Industry (BOI) to fill existing funding gaps in sugar project development in Nigeria. Titled, “First Supplemental Managed Fund Agreement,” the MoU...