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I&E Window: Exchange Rate sells for as high as N844/$1 closes at N768.16/$1
The exchange rate between the naira and the US dollar closed at N768.16 per dollar at the official Investor and Exporters window on Thursday, 20th July 2023. This represents a 3.22% appreciation against the US…
External Reserves fall to lowest level in two years
Nigeria’s external reserves fell to $33.9 billion on Wednesday, July 19th, 2023 its lowest level in two years. This is according to data from the central bank obtained from its website. The apex bank regularly…
Diezani glows in latest photo — after 8-year absence due to cancer battle
A photo of Diezani Alison-Madueke, the former minister of petroleum resources, looking healthy, has surfaced on social media after an eight-year absence from the public. Ben Murray-Bruce, the former senator…
Fuel Subsidy Removal Leads to Sharp Decline in Generator Sales Across Nigeria
A recent survey conducted by Nairametrics following President Bola Tinubu’s announcement on May 29 declaring an end to fuel subsidies has revealed a notable decline in the sales of gasoline generator sets in…
Police Promote Officer Assaulted By Seun Kuti
Mohammed Aminu, the police officer Afrobeat musician, Seun Kuti, assaulted, has been promoted to the rank of Assistant Superintendent of Police (ASP). Recall that Kuti, in May, assaulted Aminu, during an encounter on…
FBN Holding post 414% increase in profits (YoY Q2 2023)
FBN Holdings Plc, one of Nigeria’s largest banks released its 2023 second-quarter results showing pre-tax profits rose 5 folds to N150.1 billion (N29.2 billion Q2 2022). The increase in second-quarter profits…
Again, FG to shut section of Eko Bridge for 40 days
The Federal Controller of Works, Lagos State, Kesha Olukorede, has announced 40 days closure of the Island-bound lane of the Alaka-Costain-Iganmu section of the Eko Bridge, beginning from Sunday. Ms Olukorede, in a…
Tinubu Moves To Block Atiku’s Fresh Petition On Chicago Records
President Bola Tinubu has filed a motion to quash subpoena before the Circuit Court of Cook County, Illinois, Chicago, USA, against a fresh petition by the presidential candidate of the Peoples Democratic Party…
JUST IN: Tinubu approves establishment of infrastructure support fund for states
...FAAC shares N907billion from N1.9trillion June revenue President Bola Tinubu has approved the establishment of Infrastructure Support Fund (ISF) for the 36 States of the…
FIRS generates N5.5trillion in the first half of the year
The Federal Inland Revenue Service (FIRS) has reported a tax revenue collection of N5.5 trillion between January and June of 2023. This represents the highest tax revenue collection ever recorded by the…
AMCON sells 900 million shares of UBA – Sources
Data from the NGX trading session reveal about 961.5 million shares of UBA were traded on Thursday, July 20th. This was an abnormally high trade for a banking stock catching the interest of Nairametrics analysts.…
UK may confiscate $129m belonging to Ibori
A state prosecutor on Thursday asked a London court to order the confiscation of more than 100 million pounds ($129 million) from Nigerian politician and ex-Delta State governor, James Ibori, Reuters report. Ibori had…
Kuda reaches six-million customer sign-up milestone
Kuda – the money app for Africans has passed the six-million customer milestone in Nigeria, extending its corporate mandate of making financial services more accessible, affordable, and rewarding to all Africans. Since…
Davido Donates N237m to Orphanages
David Adedeji Adeleke OON, popularly known as Davido, has donated N237m to orphanages across Nigeria through his foundation, The David Adeleke Foundation…
Fernandes Named Manchester United’s New Club Captain
Manchester United on Thursday announced that midfielder, Bruno Fernandes, has been named as the new captain of the club. Fernandes wore the armband in…
Nigeria Still Has Cheapest Fuel Price In Africa – IPMAN
The National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Yakubu Suleiman, has said that even with the sudden hike in the pump price of petrol in Nigeria, the country…
Fashola Buries Mother-In-Law In Lagos
Former Minister of Works and Housing, Mr Babatunde Fashola (SAN) on Thursday buried his mother-in-law, Madam Edith Dibofu with several dignitaries in attendance. Lagos Deputy Governor, Dr Obafemi Hamzat and his…
Fuel Price: Stop Attacking Tinubu, Wait For Palliatives – Onanuga Tells Nigerians
Bayo Onanuga, a spokesperson of President Bola Ahmed Tinubu during the campaign, has appealed to Nigerians to exercise patience amidst the recent increase in fuel prices. Daily Trust reports that condemnation…
Subsidy Removal: NITT To Begin Conversion Of Vehicles To Autogas
Nigerian Institute of Transport Technology (NITT), Zaria, Kaduna State, says it will soon commence the conversion of petrol-powered vehicles to autogas to cushion the effect of fuel subsidy removal and reduce…
NNPC acquires 20% stake in UTM FLNG Project
As part of efforts to grow the gas market and make cooking gas accessible and affordable to consumers, the Nigerian National Petroleum Company…
JUST IN: House of Reps Orders Suspension of Proposed Electricity Tariff Hike
The House of Representatives has asked the National Electricity Regulatory Commission (NERC) to suspend the proposed increase in electricity tariffs.POLITICS NIGERIA reports that the lower legislative chamber passed…
Replacing Adamu with Ganduje height of insensitivity, politically suicidal, says APC National…
National Vice Chairman, North West, of the ruling All Progressives Congress APC, Salihu Moh. Lukman has described as grossly insensitive and politically suicidal, attempts by some party stakeholders to install the…
Adeleke appoints lawyer as health commissioner
Osun State Governor Ademola Adeleke on Wednesday swore in a lawyer, Sola Akintola as the Commissioner for Health among the 25 newly appointed commissioners. Speaker of the House of Assembly, Adewale Egbedun…
NNPCL, UTMOL Sign Agreement ‘To Drive Down Cost Of Cooking Gas’
As part of efforts to grow the gas market and make cooking gas accessible and affordable to consumers, the Nigerian National Petroleum Company (NNPC) Limited and UTM Offshore Limited has signed the Heads of Terms…