Dangote Support's CNG Initiative, Invests $280m The Dangote Group says it has invested over $280m in Compressed Natural Gas technology and infrastructure, saying it is in demonstration of its support for President Bola Tinubu’s CNG initiative. In a statement on Sunday, the company said its $280m...

S/Arabia Raises $1.1B for Displaced Persons in Nigeria, Lake Chad The Kingdom of Saudi Arabia, through King Salman Humanitarian Aid and Relief Centre (KSrelief), has hosted a Donors' Conference in Jeddah, raising over $1.1 billion in pledges to support displaced persons and refugees across the...

Nigeria to Establish Creative Economy Development Fund The federal executive council (FEC) has approved the establishment of the creative economy development fund (CEDF) and the implementation of the intellectual property (IP) monetisation pilot. The CEDF aims to provide funding to creative activities through various financial instruments. The...

Old Naira Notes to Circulate Indefinitely The Central Bank of Nigeria (CBN) says Nigerians should disregard claims that the old naira notes will cease to be legal tender on December 31, 2024. In a statement on X on Thursday, Sidi Ali Hakama, acting director, corporate communications,...

IMF Reveals Factor Hindering Nigeria’s Socioeconomic Development The International Monetary Fund (IMF) has said that Nigeria allocates the majority of its revenue to debt servicing, leaving limited funds for critical development projects. Speaking during the Fiscal Monitor press briefing at the ongoing IMF/World Bank Annual Meetings...

TCN Explains Why Blackout Persists in North The Transmission Company of Nigeria (TCN) has said the blackout affecting parts of Northern Nigeria will persist due to security challenges hindering repairs on critical transmission lines. Despite efforts to restore electricity through alternative means, the TCN said the...