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Nigeria Employers’ Consultative Association (NECA) has expressed dismay with the position of Chris Ngige, minister of labour and employment, directing banks and financial institutions to suspend further retrenchment of their workers. NECA at the weekend also directed banks, financial institutions and other employers of labour to ignore the minister’s misplaced directive. Olusegun Oshinowo, director-general of […]

President Muhammadu Buhari will take 10 days off and travel to London on Monday, June 6th to rest, the Presidency said Sunday night. This is the second time the President is embarking on a holiday to the United Kingdom where many believe he courts a medical team. However, this time, the Presidency confirms that he will be examined […]Read More

President Muhammadu Buhari has said the government is working to ameliorate the suffering of Nigerians as no elected government intentionally wants to make life difficult for its people. The President who was speaking in his Ramadan message to Muslim faithfuls in the country said the government is working towards bringing relief to their lives through palliative measures and faithful implementation […]Read More

While Nigeria increased spending on the military to an average of $1.7 billion a year from 2011 to 2014 in response to the Boko Haram insurgency, “system-wide” corruption meant it didn’t become a better fighting force, the International Crisis group says. “Dubious procurement practices, fraudulently bloated payrolls, poor financial management and weak auditing systems at […]Read More

Nigeria has a problem: The country is one of the world’s top oil producers, but it doesn’t have enough gasoline to fuel its struggling economy. On the outskirts of Lagos, Africa’s richest man is building what he says is a solution to the country’s fuel crisis: A massive, 650,000 barrel-per-day refinery that is designed to… […]Read More

As distribution companies (Discos) in Nigeria intensify efforts at collecting debts owed by military and para-military formations, Hilda Ibifuro-Harrison, Ondo State commissioner of police, has summoned a meeting of all area commanders within her command on how to map out modality for the immediate payment of electricity bills by residents of police barracks in the […]

As FX constraint continues to bite and create hardships for airlines, Nigerian government has been charged to ensure that domestic carriers do not continue to suffer at the expense of their international counterparts given that it has made over $200,000 million available to foreign airlines in 2016. Airline operators under the aegis of the Airline… […]

A group, Igbo Vision in All Progressives Congress (APC), on Sunday advised Nigerians to patronise locally made goods in order to boost the nation’s economy. Founder of the group, Uche Dimgba said that there was need for Nigerians to buy locally made goods as part of the efforts at creating employment opportunities. He spoke in… […]

Minister of State, Aviation, Hadi Sirika, has unfolded the vision and strategies of the President Mohammad Buhari administration for achieving a quantum leap forward for the Nigerian aviation industry. First, Sirika made it clear that aviation “is pivotal to the growth of key economic sectors, certainly not limited to travel and tourism. Agriculture production and… […]

By Oyetunji Abioye The Central Bank of Nigeria says the modalities for the planned flexible exchange rate policy is being worked out and will be released in due course. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okoroafor, said the Monetary Policy Committee’s decision to adopt a flexible forex policy was made in the interest […]

…Mixed devt in forex markets as CBN spends $700m to defend Naira  By Emeka Anaeto, Economy Editor LAGOS—Banks’ treasury positions have been placed on high alert, following uncertainties surrounding the proposed flexible foreign exchange regime. As a result, system liquidity recorded a massive upsurge of 51.4 per cent to hit N408 billion last weekend against N277.4 […]Read More

By Henry Boyo In popular Greek mythology, “Pandora’s Box was actually a large jar given to Pandora by the gods, the box contained all the evils of the World, and when Pandora opened the box, all the evils flew out, leaving only hope inside when she closed it again” (paraphrased from Wikipedia). “Poverty will clearly […]Read More