FG Plans Reforms As Telecoms Sector Attracts $191m FDI in Q1, 2024   The Federal Government has announced plans to implement reforms in the telecoms sector, following a historic investment of $191m in Foreign Direct Investment in the first quarter of 2024. This investment surpassed the total...

Tinubu to Nigerians: Buy Locally-assembled CNG Vehicles   The Federal Government has appealed to Nigerians to take advantage of the CNG initiative to reduce by buying locally-assembled CNG vehicles. This is expected to reduce pressure on the use of Premium Motor Spirit and diesel in the country. After...

'Why Nigeria May Lose $20bn In Cocoa Exports In Three Years'   Executive Secretary/Chief Executive, Financial Reporting Council (FRC) of Nigeria, Dr. Rabiu Olowu has warned that Nigeria is on the brink of losing over 20 billion dollars in cocoa exports within the next three years...

Queues Persist as Petrol Hits N1,100/Litre in Abuja, Others   The queues for Premium Motor Spirit, popularly called petrol, persisted in Abuja and neighbouring states on Monday, as it also spread to Lagos and other regions across the country, with marketers stating that the situation might...

Naira Depreciates to 1,523/$ at Official Market   The naira depreciated at both the official and parallel markets on Monday. At the official, Nigerian Autonomous Foreign Exchange Market, the naira dropped to 1,523.85 per dollar, depreciation from the previous close of 1,509.67 to the American greenback. NAFEM is...

Company to Invest $172bn in Agriculture, Energy, Other Sectors Backbone Infrastructure Nigeria Limited, a multi-national company, has announced its intention to invest $172bn to develop various infrastructure sectors in the country. This investment, utilising alternative financing options, will be allocated to mineral resources, energy, agriculture,...