Local vehicle manufacturing begins soon, declares industry minister In a bold move to transform Nigeria into a key player in the global vehicle manufacturing sector, Minister of Industry, Trade and Investment, Doris Uzoka-Anite, has unveiled plans for the Nigeria Automotive Industry Development Plan. The announcement came during a high-profile gathering of stakeholders from both public…
FG targets 2.5 million barrels per day crude oil production Brent, the global benchmark for crude oil, has seen a notable price increase over the past three days, reaching over $84 per barrel on Friday. This surge follows weeks of trading at an average of $80 per barrel. The price hike coincides with Nigeria’s announcement…
TotalEnergies celebrates zero gad flare in Nigeria, assures end to routine flare The Managing Director/ Chief Executive of Total Energies Companies in Nigeria, Mr Matthieu Bouyer, has disclosed that the company has reached zero routine flaring in all its operations across Nigeria. Bouyer made the disclosure during a media press conference in Port Harcourt monitored…
NARTO Urges Minister to Address Challenges Threatening Petroleum Distribution The National Association of Road Transport Owners (NARTO) has called on the Minister of State for Petroleum, Heineken Lokpobiri, to urgently address challenges facing the transportation of petroleum products across the country. In a letter dated February 6, 2024, NARTO President Yusuf Lawal Othman warned that…
Tinubu Congratulates Dangote on Highest Senegalese Honor President Bola Ahmed Tinubu has extended his congratulations to Alhaji Aliko Dangote, President of Dangote Group, on his upcoming prestigious award from Senegal. As per a statement released by the Special Adviser to the President on media and publicity, Chief Ajuri Ngelale, President Tinubu commended Dangote’s “enterprise and…
FIRS Chairman Highlights Role of Armed Forces in Securing Tax Revenue The Federal Inland Revenue Service (FIRS) and the Nigerian Armed Forces have pledged to strengthen their collaboration to improve revenue collection and enhance national security. This commitment was emphasized during a recent meeting between FIRS Chairman Zacch Adedeji and Chief of Defence Staff…
FIRS Smashes Revenue Target, Raises Bar for 2024 with N19.4trn Goal In a stunning performance, the Federal Inland Revenue Service (FIRS) has surpassed its 2023 target by a whopping N1.67 trillion, raking in a record N12.374 trillion in tax revenue for the federation. This remarkable feat has fueled optimism for an even brighter future, with…
NNPC Limited discovers 83 illegal refineries in one week The Nigerian National Petroleum Company Limited said it has in the past week uncovered no fewer than 83 illegal refineries in the Niger Delta. The NNPCL disclosed this on its X handle on Tuesday, adding that 15 illegal pipeline connections were also discovered within the same…
NECA DG Attributes Economic Hardships to Inflation Impact on Nigerian Workers In a recent statement, Mr. Adewale Oyerinde, the Director-General of the Nigeria Employers’ Consultative Association (NECA), emphasized that the escalating rate of inflation in Nigeria is a key factor contributing to the economic hardships faced by the average Nigerian worker. Here are the key…
More multinationals likely to exit Nigeria in 2024 – Report More multinational firms may exit Nigeria in 2024, warns a report dated January 12, 2024, by financial solutions firm Cardinal Stone. The report, titled ‘Strategic Resilience: Sailing Through Business Disruptions,’ emphasizes that high operating costs are expected to persist for companies in the Fast Moving…
