Business
President Bola Tinubu’s approval of a new minimum wage of N70,000 for Nigerian workers in July 2024 has seen varying levels of implementation across states. Lagos State Governor, Babajide Sanwo-Olu, announced a new minimum wage of N85,000 for state workers, citing the high cost of living in Lagos. The governor aims to raise the minimum […]
Nigerian States Paying Above the Minimum Wage of N70,000 Read More »
Adedeji Adeleke, father of award-winning artist Davido, has shared his experience securing a permit for his $2 billion power plant. Adeleke, a billionaire industrialist, faced difficulties with government officials who initially denied his environmental permit. Despite the setbacks, Adeleke persevered and prayed, believing that God would intervene. His Chinese engineering partners were worried about the
The Federal Government has announced plans to invest $2 billion in a 90,000km fibre-optic project to expand Nigeria’s fibre optic cable capacity from 35,000km to 125,000km. According to the Minister of Communications, Innovation & Digital Economy, Bosun Tijani, the project aims to provide meaningful connectivity to communities, enabling schools, hospitals, government establishments, and businesses to
Nigeria to Invest $2 Billion in 90,000km Fibre-Optic Project Read More »
Nigerian lawyer and human rights activist Femi Falana has criticized the Nigerian National Petroleum Company (NNPC) for fixing fuel prices, stating that it is illegal and unconstitutional. According to Falana, the NNPC’s actions violate Section 205 of the Petroleum Industry Act, which stipulates that petroleum prices should be determined by market forces. Falana pointed out
NNPC’s Fuel Price Fixing Declared Illegal by Femi Falana Read More »
The Nigerian Exchange Group Plc (NGX) has praised the German government and its development finance institution, Deutsche Investitions- und Entwicklungsgesellschaft (DEG), for their commitment to advancing impact investing in Nigeria. This recognition comes as NGX seeks to strengthen partnerships focused on sustainable development and climate action. According to NGX Group Managing Director, Temi Popoola, DEG
Nigerian Exchange Group Commends Germany’s Investment Drive in Nigeria Read More »
Polaris Bank has been awarded the “Best in MSME Lending” title at the inaugural MSME Finance Awards 2024. The award, organized by Nairametrics and The Economic Forum, acknowledges the bank’s commitment to supporting Micro, Small, and Medium Enterprises (MSMEs). The bank’s Managing Director, Kayode Lawal, expressed gratitude for the recognition, highlighting the vital role MSMEs
Polaris Bank Recognized as Nigeria’s Leading Bank in MSME Lending Read More »
The World Bank has approved a total of $1.57 billion in financing for Nigeria, aimed at strengthening human capital development and climate resilience. According to the World Bank, the approved funds will support the Federal Government’s efforts to improve the delivery of essential services, particularly in education and healthcare. The loan is expected to address
World Bank approves $1.57 billion loan for Nigeria Read More »
The Niger Delta Development Commission (NDDC) has successfully trained 200 women and youths in livestock farming and agro-processing in Delta State. The training, held at Okiemutie farms in Eku Amukpe, Sapele Local Government Area, aimed to address unemployment and poverty through agriculture. NDDC Managing Director, Dr. Samuel Ogbuku, emphasized the importance of agriculture in diversifying
NDDC Trains 200 Farmers in Livestock Farming and Agro-Processing Read More »
Nigeria’s Minister of Finance, Wale Edun, has announced plans to drastically reduce the country’s reliance on food imports, emphasizing the need for self-sufficiency. Speaking at a press conference in Abuja, Edun stated that Nigeria’s future lies in producing its own food, rather than relying on imports. The government plans to support small-scale farmers through initiatives
The Federal Government has successfully retrofitted train locomotives to operate on a dual-fuel system, which is expected to save over 60% on diesel costs. This significant achievement was announced by the Minister of Transportation, Said Alkali, who expressed his satisfaction with the test run at the Amina J. Mohammed Train Station in Abuja. The newly
Breakthrough as Nigeria achieves reduced diesel costs Read More »