Category: Economy

Nigeria Partners Brazil in Development of Methanol Complex – FG

FRANCIS ADENIYI

Honourable Minister of Innovation, Science and Technology, Chief Geoffrey Uche Nnaji has said that Nigeria is currently developing a robust Green Methanol Industrial Complex, the highest in Africa and is seeking Brazilian partnership in design, certification and feedstock optimization for socio-economic development of the country. Chief Nnaji made this statement when the Ambassador of Brazil to Nigeria His Excellency Mr. Carlos Gracete paid him a courtesy visit today in his office Abuja. Methanol fuel is an alternative biofuel for internal combustion and other engines. “According to Uche methanol has chemical…

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Reno Omokri: Nigeria Borrowed $1.5 Billion Monthly to Fund Naira Subsidy Before Tinubu’s Reforms

Tolu Adebayo

Reno Omokri: Nigeria Borrowed $1.5 Billion Monthly to Fund Naira Subsidy Before Tinubu’s Reforms Abuja, Nigeria – Former presidential aide Reno Omokri has alleged that prior to the economic reforms initiated by President Bola Tinubu, Nigeria was spending a substantial $1.5 billion monthly to artificially support the value of the Naira, a sum he claims was sourced through borrowing. Speaking on the Channels Television programme “Inside Sources” aired on Sunday, Omokri characterized this expenditure as a significant “waste” that diverted crucial funds away from vital sectors such as healthcare, education,…

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National Single Window to Boost Trade Efficiency — President Tinubu

Tolu Adebayo

The federal government is rolling out deliberate export incentives to empower Nigerian businesses to compete on the global stage President Bola Tinubu has reaffirmed his commitment to advancing Nigeria’s National Single Window (NSW) project, highlighting its positive impact on trade efficiency as his administration marks two years in office. The NSW initiative, a digital platform designed to streamline cross-border trade, is already delivering measurable improvements by reducing delays at Nigerian ports and enhancing the country’s global trade competitiveness. In a statement reflecting on his government’s progress under the Renewed Hope…

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Olaopa Hails Tinubu’s Renewed Hope Agenda: Economic Transformation Underway

Tolu Adebayo

President Bola Tinubu’s Renewed Hope Agenda is already yielding significant positive changes across various sectors of the Nigerian economy, according to Professor Tunji Olaopa, Chairman of the Federal Civil Service Commission. Olaopa made these remarks while delivering a keynote lecture at the “1st International Conference on Public Policy, Governance and Development” held at Obafemi Awolowo University, Ile Ife, on Monday, May 26, 2025. The conference was organized by the Department of Public Administration. In his lecture, titled “Building a Promising Future in Africa through Policy Re-Evaluation: The Defining Issues in…

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FG to Trains Youths for Modern Economy

Shidali Khadijat Ajechi

The Federal Government has pledged to train unemployed youths with skills tailored to Nigeria’s modern economic demands. Professor Nentawe Yilwatda, Minister of Humanitarian Affairs and Poverty Reduction, made the announcement on Wednesday during a visit to North Central participants in the ongoing Skills-to-Wealth (S2W) training programme in Jos. The government launched the initiative last week. Yilwatda explained that the S2W programme equips young Nigerians with practical skills to engage productively in the economy. “We designed this programme to train unemployed youths with skills that meet today’s economic needs,” he said.…

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Over 350,000 Residents have been Registered by the KWASRRA

Tolu Adebayo

KWASRRA Registration: Over 350,000 Residents Currently Captured: Acting GM •Pensioners in diaspora to complete registration via Agency’s website •KWASRRA registration now mandatory requirement for schools enrollment, exams in Kwara Over 350,000 residents have been captured by the Kwara State Residents Registration Agency (KWASRRA) to secure lives and properties and plan for the economic development of residents based on accurate data. The Acting General Manager of KWASRRA, Mr. Tajudeen Jimoh, disclosed this on Wednesday while giving the Agency’s stewardship at the Inter-ministerial Press Briefing for the 1st quarter of 2025, which…

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Jollof rice now costs N25,486 per pot — Report

Onwuama Arinze Godswill

Jollof rice now costs N25,486 per pot — Report The Cost of Cooking One Pot of Jollof Rice in Nigeria Jumps 19% Amid Rising Inflation Lagos, Nigeria – March 15, 2025The price of preparing a single pot of jollof rice, a beloved staple in Nigerian cuisine, has surged by approximately 19% over the past six months, highlighting the deepening cost-of-living crisis in the country. According to recent data from the National Bureau of Statistics (NBS) and market surveys, the cost rose from N21,300 in September 2024 to N25,486 in March…

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TCIPC Customs Reassures Zero Tolerance for Corruption

Onwuama Arinze Godswill

TCIPC Customs Reassures Zero Tolerance for Corruption The Nigeria Customs Service (NCS) Tincan Island Port Command (TCIPC), has reiterated its unwavering commitment to integrity and professionalism at a one day lecture organised by the Anti-Corruption and Transparency Unit (ACTU) of the NCS, in collaboration with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Lagos Office, ICPC Lagos. The lecture which held on Friday, 11 April 2025, was attended by Deputy Controllers (DC’s), Assistant Controllers (AC’s), and heads of key units including, Valuation, Customs Intelligence Unit (CIU), Post Clearance…

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Dream of Homeownership Within Reach: New Housing Scheme Promises N10,000 Monthly Payments for Low-Income Earners

Onwuama Arinze Godswill

Dream of Homeownership Within Reach: New Housing Scheme Promises N10,000 Monthly Payments for Low-Income Earners The dream of owning a home in Nigeria may be closer to reality for low-income earners, thanks to a groundbreaking new housing initiative. Details are emerging about a scheme that reportedly will allow individuals earning as little as N30,000 per month to become homeowners by paying a remarkably affordable monthly installment of just N10,000. This ambitious plan, which has sparked considerable excitement and cautious optimism, proposes a payment structure where monthly housing costs are capped…

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Tinubu Shakes Up Oil Sector: Sacks Kyari, NNPCL Board Citing Poor Performance and Lack of Transparency – Officials

oluwatobi enitan

Tinubu Shakes Up Oil Sector: Sacks Kyari, NNPCL Board Citing Poor Performance and Lack of Transparency – Officials ABUJA, NIGERIA – In a dramatic move signaling a potential overhaul of the nation’s crucial oil and gas sector, President Bola Ahmed Tinubu has reportedly sacked Mele Kyari as the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), along with the entire board, according to top government officials. While no official statement has been released by the Presidency or NNPCL, multiple sources within the government, speaking on…

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“I am sorry,” Corps member apologizes for labeling Lagos a ‘smelling state’ in viral video.

Onwuama Arinze Godswill

Ushie Uguamaye, commonly known as Raye, a Lagos-based National Youth Service Corps member who went viral last week for criticizing the government, has apologized for “talking down” on Lagos. On Monday, Raye said on Instagram that her statements may have hurt Lagos citizens and expressed apologies for her language choice. She explained that her purpose was not to offend individuals who call Lagos home, but to express her candid observations as a tourist. She added that the inflammatory comment was part of a larger project, a 30-day rant challenge to…

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