Monetary

Wike Okays N70,000 Minimum Wage for FCT Workers

Wike Okays N70,000 Minimum Wage for FCT Workers   The Minister of the Federal Capital Territory, Nyesom Wike, has approved the immediate payment of N70,000, the new minimum wage for all administration staff. This was contained in a statement signed by the Press Secretary to the Head...

Passenger Luggage: Delay Will Now Attract $170, N10,000 Fines – NCAA

Passenger Luggage: Delay Will Now Attract $170, N10,000 Fines – NCAA   The Nigeria Civil Aviation Authority (NCAA) has vowed to take tough measures against airlines that delay passengers’ luggage. The regulatory agency said it will impose fines of $170 and N10,000 on foreign and local airlines,...

Customs Impounds 67,000 Litres of PMS Worth N84m

Customs Impounds 67,000 Litres of PMS Worth N84m   Amid the fuel hike in fuel price in Nigeria, Operation Whirlwind of the Nigeria Customs Service (NCS) has intercepted 67,000 litres of Premium Motor Spirit (PMS) otherwise known as petrol, valued at N84, 870,000,000 from smugglers. In a...

Weak Purchasing Power Pushes Unsold Goods to N1.24trn, MAN Reveals

Weak Purchasing Power Pushes Unsold Goods to N1.24trn, MAN Reveals The Manufacturers Association of Nigeria (MAN) has stated its unsold manufactured goods have reached a record N1.24tn, as its unsold inventories increased by 357.57 per cent in the first half of 2024. MAN attributed this sharp...

Report Reveals FG spent N29bn to Repair Damaged Power Towers

Report Reveals FG spent N29bn to Repair Damaged Power Towers   The Federal Government, through the Transmission Company of Nigeria (TCN) has spent a total sum of N29.3bn as costs to repair 266 electricity towers damaged by vandals nationwide, the latest data obtained from TCN showed. The...

FG Needs N19trn to Complete 2,604 Ongoing Projects – Minister

FG Needs N19trn to Complete 2,604 Ongoing Projects - Minister   The Minister of Works, David Umahi, has stated that the financial requirements to successfully complete the ongoing 2,604 road projects inherited by the current administration have increased to N19trn, an increase from the previously estimated...