Inflation: Petrol Price Hits N300 Per Litre The scarcity of Premium Motor Spirit, popularly called petrol, grew worse across the country on Thursday, as massive queues were witnessed in Abuja, Lagos, Port Harcourt, Calabar, Warri, Nasarawa, Minna, among other places. Oil marketers stated that the scarcity...

FAAC Shares 902.053 billion for November The Federation Account Allocation Committee (FAAC) has distributed 902.053 billion Naira to the Federal Government, States and Local Government Councils for November 2022. This was contained in a communiqué issued at the end of the Committee‘s meeting. The N902.053 billion total...

CBN Report: AMCON Liabilities Hit N5.7tn Asset Management Corporation of Nigeria’s liabilities stood at N5.72tn as of the end of the first half of 2022. The Financial Markets Department of the Central Bank of Nigeria disclosed this in its ‘Half-year activity report 2022’ released on Thursday. It...

How Governors Received N625.43bn Oil Derivation, Refunds in Two Years - Presidency The Presidency has said nine oil-producing states received a total of N625.43 billion 13 percent oil derivation, subsidy and SURE-P refunds from the Federation Account in the last two years, 2021-2022. According to a...

In 2022, Airlines Spend $192bn on Jet-A1 The Nigerian aviation sector has spent $192bn in 2022 on aviation fuel alone, a report by Philips Consulting Limited said. According to the report titled, ‘Nigeria’s Aviation Industry Customer Satisfactory Survey Report 2022’, obtained by The punch, in the...

Naira Sells N436.63/$1 at Spot Market, N731/$1 at Black Market The Naira appreciated against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange market on Thursday, October 6. Yesterday, the exchange rate of the local currency against the greenback closed at...