Business
FG to miss 2025 revenue target by N30trn, says Wale Edun
Wale Edun, minister of finance, says the federal government is likely to miss the 2025 revenue target by N30 trillion. Edun spoke on Tuesday in Abuja when he appeared before the house of representatives committees on finance and national planning during an interactive session on the 2026-2028 medium-term expenditure framework (MTEF) and fiscal strategy paper (FSP). The […]
CBN working with SEC on framework for crypto regulation, says Cardoso
Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says the bank is collaborating with the Securities and Exchange Commission (SEC) to develop a sustainable framework for digital currencies in the country. Speaking during the CBN governor’s annual lecture series at the Lagos Business School (LBS) on Friday, Cardoso said cryptocurrencies, fintech, and blockchain […]
Nigerian govt vows to sustain oil production above OPEC quota
The Nigerian government has vowed to sustain its crude oil production above a 1.5 million barrel per day monthly average quota. Gbenga Komolafe, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, disclosed this at the recent Project One Million Barrels Initiative. In July, Nigeria’s average daily crude production rose to 1,507,000 barrels per […]
NOGASA resumes supply of petrol products to telcos to halt network shutdown
The Natural Oil and Gas Suppliers Association of Nigeria has directed its members to resume business with IHS and other telecommunications operators to avert network shutdown. NOGASA National President, Bennett Okorie, disclosed this in a media briefing on Saturday. This comes after NOGASA, on Tuesday last, asked its members to halt supply to IHS and […]
NCAA announces suspension of ValueJet’s crew licences, gives reason
The Nigeria Civil Aviation Authority on Tuesday announced the suspension of ValueJet crew members licences over a breach of safety protocols. NCAA Director of Public Affairs and Consumer Protection Michael Achimugu disclosed this in a statement on Tuesday. The affected ValueJet crew members are Captain Oluranti Ogoyi and First Officer Ivan Oloba. The NCAA notes […]
Fuel price nears N1,000 per litre in Nigeria as marketers, retailers trade blame
Petroleum product marketers and retailers are trading blame as the premium motor spirit pump price nears N1,000 per litre in Nigeria. On Monday, DAILY POST reported that the Nigerian National Petroleum Company Limited retail outlets across the country increased fuel prices. In Abuja, Nasarawa, and Kogi states, the NNPCL petrol pump price jumped by N65 […]
NNPCL boss, Ojulari not forced to sign resignation letter – Presidency
Nigeria’s presidency has said that the Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Bayo Ojulari, has not been forced to sign his resignation letter. Sunday Dare, a presidential spokesperson, made this clarification in a terse statement exclusively to DAILY POST on Saturday night. His clarification comes as reports emerged that the Economic […]
Naira continues depreciation against dollar after CBN fails to cut interest rate
The Nigerian naira continued to depreciate against the dollar at the official foreign exchange market on Tuesday as the Central Bank of Nigeria retained the interest rate at 27.50 percent. CBN’s exchange rate data showed that it dropped further to N1,535.24 per dollar on Tuesday from N1,532.54 exchanged the previous day. This means that the […]
CBN MPC retains Nigeria’s interest rate at 27.50%
The Central Bank of Nigeria’s Monetary Policy Committee meeting has retained the country’s interest rate at 27.50 percent.The Governor of CBN, Olayemi Cardoso, disclosed this at the end of the 301st MPC meeting in Abuja on Tuesday. He noted that all members of the MPC agreed unanimously to maintain the interest rate amid sustained moderation […]
CBN fixes date for Monetary Policy Committee meeting
The Central Bank of Nigeria has announced Monday and Tuesday, July 21 and 22, 2025, as the 301st Monetary Policy Committee meeting. The apex bank disclosed this in a notice released on its official website at the weekend. The MPC meeting, which is CBN’s highest decision-making body, would meet in Abuja to take on the […]