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The Lagos Chamber of Commerce and Industry (LCCI), has said that a reversal of the current reforms on subsidy of Premium Motor Spirit (PMS) would exacerbate the challenges of the already faltering Nigerian economy.
The Federal government says it is set to mechanize agricultural production because the involvement of youths in the sector will ensure food security, create jobs, and increase foreign exchange earnings for the country.
The Petroleum Products Pricing Regulatory Agency, PPPRA, yesterday, disclosed that N8.9 trillion was spent on fuel subsidy by the Federal Government, mainly by previous administrations, between 2006 and 2015.
Amidst sustained pressures on Nigeria’s official foreign exchange resources, the Central Bank of Nigeria, CBN, has opened investigations into foreign exchange transactions of 55 companies and individuals.
The Kaduna Internal Revenue Service (KADIRS), has so far, shut down 40 bet9ja offices in the last seven days, in its ongoing operation to close all unregistered gaming offices in the state.
Nigerian President Muhammadu Buhari on Thursday directed the central bank to stop issuing foreign exchange for food and fertiliser imports, according to a statement by his spokesman.
The umbrella body of farmers in Nigeria, All Farmers Association of Nigeria, AFAN, Friday, commended President Muhammadu Buhari, over stoppage of foreign exchange for fertilizer and food importation into the country.
The Petroleum Products Pricing Regulatory Agency, PPPRA, blamed foreign exchange challenges and prevailing uncertainty for the inability of oil marketers to resume fuel import.
An Agricultural Economist, Mr Bright Okwu, has urged the Central Bank of Nigeria (CBN) to include Egg Powder imports to be among the items banned from accessing Foreign Exchange (FOREX).
Mr Segun Awolowo, the Executive Secretary, Nigeria Export Promotion Council (NEPC), says active implementation of the Zero Oil Plan will boost Nigeria’s foreign exchange earnings in the face of economic contraction caused by COVID-19 pandemic.
The Ooni of Ife, Oba Adeyeye-Ogunwusi Enitan, has called on the Federal, state governments and law makers to provide legislation, policy and funding to promote African Traditional Medicine (ATM).
Sales of Zimbabwe’s tobacco, the second largest foreign currency earner, fell 23.52% to 178.7 million kilograms this year, official data showed on Monday, after production was affected by lower rainfall.
This came as the Federal Government, yesterday, said despite the N2.3 trillion Economic Stimulus Plan put in place to contain impact of the Coronavirus (COVID-19) pandemic on the economy, there is the possibility that the third quarter, 2020 (Q3’20) Gross Domestic Product, GDP, growth rate will be negative, while the economy will relapse into a recession.
The Central Bank of Nigeria (CBN) says it has commenced the sales of foreign exchange to the Bureau De Change (BDC) operators in the country.
The Central Bank of Nigeria (CBN) has banned banks from opening Forms M (FOR IMPORTERS) “whose payments are routed through a buying company/agent or any other third parties.”
The Lagos State government said it would investigate reports of shootings at the Lekki Toll plaza, which followed the 24-hour curfew imposed to stop criminals hiding under the #ENDSARS protests to unleash mayhem on innocent citizens.
Former United States presidential candidate, Hillary Clinton, has made a public appeal to Nigeria's President Muhammadu Buhari to end the killing of peaceful protesters.
Manchester United's victory against PSG in the Champions League has seen the club win 10 consecutive away games for the first time in their history.
Netflix seems to be on a cancelation streak as of late, and the science fiction space drama Away is the streaming service’s latest victim.
The Kano State Government, says it has begun the distribution of instructional materials worth over N1.5 billion to primary and junior secondary schools in the 44 Local Government Areas of the state.
Former France goalkeeper and deputy director of Montpellier’s training centre, Bruno Martini, has died at 58.
Following the imposition of a 24-hour curfew on the residents of Ekiti by the Ekiti State Government, the Police Command there on Tuesday announced ban on all forms of protest in the state.
Chelsea are still waiting for a £220 million ($284 million) spending spree to pay off as Frank Lampard’s men began their Champions League campaign with an uninspiring 0-0 draw against Sevilla at Stamford Bridge.
Ole Gunnar Solskjaer surprised Bruno Fernandes at a joint media conference by announcing he would captain Manchester United against PSG.
Manchester United boss Ole gunner Solskjaer says Odion Ighalo is still very much part of his plan and remains an important member of the squad.