President Bola Tinubu has today signed the N28.7 trillion 2024 appropriation bill into law shortly after arriving Abuja from his end of year holiday in Lagos. He assented to the 2024 Appropriation Bill at a brief ceremony at the Presidential Villa in Abuja. At the epoch making event, those present […]
Nigeria’s 2024 budget has taken shape, with the Senate passing the N28.77 trillion spending plan after revisions and adjustments. This marks a significant increase from the N27.5 trillion initially proposed by President Bola Tinubu, reflecting inflation, infrastructure needs, and additional requests from government agencies. Key Highlights: Total Spending: N28.777 trillion authorized, […]
Central African country, Angola has today announced it is leaving the oil organization, OPEC over a disagreement on production quotas following the organization’s decision last month to further reduce output next year. This was disclosed by the country’s Mineral Resources and Petroleum minister Diamantino Azevedo stating that the […]
In a bid to combat the naira’s ongoing decline, the Nigerian House of Representatives has proposed adopting the Chinese Yuan (CNY) as an official foreign exchange reserve currency. This proposal, if implemented, would mark a significant shift in Nigeria’s currency strategy and potentially strengthen ties with China. The motion, championed […]
Exciting news for Nigeria’s energy sector! The Port Harcourt Refinery has officially resumed operations after a comprehensive rehabilitation, fulfilling the Federal Government’s promise to bring the refinery back online by December 2023. This marks a significant milestone in Nigeria’s quest for self-sufficiency in refined petroleum products. The refurbished facility, encompassing […]
The African Development Bank (AfDB) has taken immediate action, deciding to recall all international staff from Ethiopia following a serious breach of diplomatic protocol. The office will remain operational with an Officer-in-Charge, ensuring continuity. This decision, prompted by a recent diplomatic incident involving the unlawful arrest and assault of two […]
The Macallan Unveils Exclusive Lagos Lounge, Elevating Nigeria’s Whisky Experience A Luxurious Oasis for Whisky Connoisseurs in the Heart of Lagos Whisky enthusiasts in Nigeria, rejoice! The world-renowned Macallan has unveiled its first-ever in-house lounge in the heart of Lagos, solidifying its commitment to the booming Nigerian whisky market. This […]
The Organization of Petroleum Exporting Countries (OPEC) has declared Nigeria as the top African crude oil producer for November 2023. This is according to the data from the organization’s monthly oil market report released earlier today, December 13. In the recent OPEC report, it was mentioned that in November 2023, […]
The Dangote Oil Refining Company has now received its first shipment of crude oil, marking a major milestone for the multi-billion-dollar facility and bringing it closer to full operation. The first shipment, a 950,000-barrel cargo sourced from Shell International Trading and Shipping Co (STASCO) arrived on a chartered vessel and […]
The Supreme Court has today ruled that both the old and the new naira notes of N200, N500 and N1,000 will remain valid legal tenders until further notice. This was announced in a ruling by a seven-man panel led by Justice Inyang Okoro where the apex court ordered the old […]
