Nigeria to Become Net Fuel Exporter by December – Kyari The Group Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said Nigeria will be a net exporter of refined petroleum products by December this year, based on emerging indicators in the...

FG, W’Bank Discuss $50m Deal to Drive Power Sector Forward The Federal Government has sought the assistance of the World Bank for $50m to support state governments in the installation of solar plants and infrastructure upgrades. The Minister of Finance and the Coordinating Minister of the...

Inflation Increases to 34.19% Amid Soaring Food Prices Nigeria’s inflation rate increased to 34.19 percent in June 2024 from 33.95 percent in May. The data is captured in the National Bureau of Statistics (NBS) in its consumer price index (CPI) report for June, released on Monday. The...

African Export-Import Bank Increases Share Capital to $25b Shareholders of African Export-Import Bank (Afreximbank) has increased the bank’s authroised capital from $5 billion to $25 billion. At the annual general meeting of the bank, shareholders voted to increase the authorised share capital in recognition of the...

AfDB President Faults Food Import Tax Suspension President of the African Development Bank, AfBD, Mr. Akinwumi Adesina, has said the Federal Government’s decision to suspend duties and taxes on imported food commodities was depressing. Adesina stated this at a retreat organised by the African Primates of...

Nigeria Records 87m Bribery Cases in 2023 - NBS According to the latest report from the National Bureau of Statistics (NBS), Nigeria has witnessed a significant decrease in bribery cases, with approximately 87 million bribes paid in 2023, compared to 117 million in 2019. This...