Inflation: Nigerian Breweries To Raise N600 Billion

Nigerian Breweries Plc has mapped out N600 billion to address challenges posed by the Naira devaluation and high borrowing costs from rights issues.

IWD: SMEDAN Unveils New Brand, Pledges Support For Female Entrepreneurs

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in a bid to grow more businesses has unveiled a new brand to reposition the agency towards achieving its mission of job creation, rural industrialization, and livelihood enhancement through sustainable development of the Small and Medium Enterprises (SMEs) sub-sector.

Dangote Refinery Commences Diesel, Aviation Fuel Sale

Following the commencement of sales of Automotive Gas Oil (diesel), and aviation fuel by Dangote Petroleum Refinery, the pump price of the diesel has crashed from N1,700/litre to about N1,350, in some locations across the nation. It was gathered that the $20bn worth of Nigeria-based refinery began pumping out diesel to the domestic market days back, and has sold over a million litres to each registered oil marketer that acquired the product from the plant since it started the diesel sale.

Nationwide Blackout: Discos Rejects 1,769MW Of Electricity- Minister

The power distribution companies failed to distribute about 1,769.91 megawatts of electricity between February 1 and 14, 2024 allocated to them by Transmission Companies of Nigeria, TCN; reason for widespread blackout and the worsening state of electricity supply in Nigeria.

P/Harcourt Refinery, Others May Suffer Crude Starvation - Minister

The Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, has once again expressed fear that the newly inaugurated Dangote Petrochemical Refinery, Port Harcourt Refinery, Warri Refinery, Kaduna refinery and modular refineries in the country may not get enough crude oil locally for the production of petroleum products without increase in production in the sector.

FG To Commence Distribution Of 42,000mt Palliative Grains Next Week

The federal government has said that the distribution of 42,000 metric tons of grains to vulnerable Nigerians will be flagged off by next week in Niger State. Niger State Governor, Umar Bago, who disclosed this after a meeting with the Minister of Agriculture and Food Security ahead of the commissioning of the mechanisation program by the President in the state, said the distribution of the grains will be flagged off in the state as the state will be used as pilot state in the North Central so that the distribution can commence in earnest.

Federal Government Files Tax Evasion Charges Against Binance

In line with its policy of upholding fiscal responsibility and safeguarding the economic integrity of the country, the Federal Government has initiated criminal proceedings against Binance, a prominent cryptocurrency exchange platform. The charges, filed at the Federal High Court in Abuja, were announced on Monday by the Federal Inland Revenue Service (FIRS).

Presidency To Merge EFCC, ICPC, Others

The Minister of Information and National Orientation, Mohammed Idris, disclosed to pressmen after Monday’s Federal Executive Council (FEC) meeting on Monday, 26th February 2024, that the federal government (FG) is considering merging the nation’s top three anti-corruption agencies—the Economic and Financial Crimes Commission, EFCC, the Independent Corrupt Practices and other Related Offences Commission, ICPC, and the Code of Conduct Bureau.⁣

President Tinubu Reaffirms His Stance Against Food Importation 

President Bola Ahmed Tinubu has strongly reaffirmed his administration’s position  against importing food commodities into Nigeria even as food prices continue to escalate unabatedly thereby worsening food crises and inflation rates. President Tinubu revealed this in a statement at a meeting with the Forum of State Chairmen of the All Progressives Congress (APC) at the State House in Abuja on Friday. Nigeria’s food inflation rate according to the latest figures from the National Bureau of Statistics, has soared to a concerning 37.92% as of February 2024, prompting speculation that importing food could swiftly alleviate nationwide food price pressures. 

N30bn Food Crisis Intervention: Makinde Chides Akpabio, Labels Senate President A ‘Liar’

Oyo State governor and Vice Chairman of the Nigerian Governors’ Forum, ‘Seyi Makinde, has declared that there is no truth in the claim by the President of the Senate, Godswill Akpabio, that states of the federation got additional N30 billion each outside of their statutory revenue allocations, to address the food insecurity challenges in their states.