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Economy

Power Pricing: Nigerian Government Announces Tariff Review Request for 11 Energy Companies

ABUJA, Nigeria  — Eleven successor electricity companies have officially applied to review their electricity tariffs, the Federal Government announced on Friday, July 14, 2023. Through...

IPMAN Raises Alarm Over Pipeline Vandalism in Lagos

LAGOS, Nigeria - The Independent Petroleum Marketers Association of Nigeria, IPMAN, Ejigbo Satellite Depot, has raised concerns over the rising incidences of pipeline vandalism...

Nigeria’s Central Bank Raises Red Flag on Financial Dealings with Cameroon, Croatia, and Vietnam

ABUJA, Nigeria - The Central Bank of Nigeria, CBN, has issued a warning to commercial banks and other financial institutions about the risks of...

Fuel Subsidy Aftermath: Auto Mechanics Struggle with Surge of Uncollected Cars

UMUAHIA, Nigeria — The auto mechanic shops in Umuahia, the capital city of Abia State, are dealing with an unusual problem — a glut...

Nigerian Meter Makers Challenge Federal Govt’s Plan to Import with $155 World Bank Funds

ABUJA, Nigeria — The Association of Meter Manufacturers and Assemblers Nigeria, AMMON, has voiced its opposition to the Nigerian Federal Government’s plan to use...

World Bank: Nigeria Faces Rising Poverty Rates as Inflation Soars

ABUJA, Nigeria - According to the World Bank, Nigeria has experienced one of the highest inflation rates globally, which has pushed an estimated four...

Nigeria’s Central Bank Sets N50,000 Daily Limit for Contactless Payments

CALABAR, Nigeria - The Central Bank of Nigeria, CBN, has established a N15,000 limit for contactless payments, with a daily cumulative limit not exceeding...

More Hardships as Weakening Naira Threatens to Skyrocket Petrol Prices to Staggering N581/Litre

ABUJA, Nigeria - The continuous depreciation of the Nigerian naira and the escalating exchange rate are anticipated to lead to a significant increase in...

Harvest on the Brink: Anambra’s Counterpart Fund Crisis Puts Rice and Garri Production in Peril

AWKA, Nigeria - Concerns are rising over potential scarcity of rice and garri in Anambra State, Nigeria, due to the non-payment of counterpart funds...

Nigeria’s Public Debt Mountain Climbs: DMO Sounds the Alarm at $108.3 Billion

ABUJA, Nigeria — The Debt Management Office, DMO, announced on Friday, June 23, 2023, that Nigeria’s total public debt has risen to $108.3 billion...

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