Business

W'Bank Warns of Imminent Interest Rate Rise in Nigeria The World Bank has said that Nigeria, Angola and Sierra Leone, with double-digit inflation and weakened domestic currencies, will maintain a high interest rate for a long period and may even increase it. The bank said that...

Power Failure: Multiple Grids Needed in Regions, States to End Collapse - Adelabu  The Minister of Power, Adebayo Adelabu, says there is a need to have power grids in different regions or states to put an end to incessant grid collapses. The minister stated this on...

Aviation Sector Gets Boost as Keyamo Officially Signs IDERA The Ministry of Aviation and Aerospace Development, Festus Keyamo, has officially signed the procedure for Recordation of Irrevocable Deregistration and Export Request Authorisation (IDERA) updated by the Nigerian Civil Aviation Authority (NCAA). According to the Minister, this...

The Chairman, Presidential Committee on Fiscal Policy and Tax Reform, Mr. Taiwo Oyedele, has said Nigeria is not broke but facing the consequences of revenue leakages. 

Increasing the price of Premium Motor Spirit (PMS), also known as petrol, may reverse the already diminishing effects of fuel subsidy removal in Nigeria, according to the World Bank. 

According to Osagie Okunbor, the Managing Director, Shell Petroleum Development Company and Chair, Shell Companies in Nigeria, the company has no plans to leave Nigeria despite moves to divest its onshore assets.