The federal government has established a disaster relief fund to address disasters such as flooding. This was disclosed to journalists on Monday by Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the State House, Abuja, after the Federal Executive Council (FEC) meeting presided over by President Bola Ahmed Tinubu. According to…
The Federal Government has called on agencies recruiting for the private sector to adhere to the N70,000 minimum wage, warning that any deviation would not be tolerated. According to the FG, the new minimum wage is necessary to address the current economic reality, emphasising that no Nigerian worker, whether in government or private employment, should…
The Federal Government has launched an eight-point plan to generate at least $100 billion and create over two million jobs from Nigeria’s creative economy yearly. The plan, unveiled by the Minister of Art, Culture and the Creative Economy, Hannatu Musa Musawa, at a roundtable for local and international investors in Lagos, has the potential to…
The loading of Premium Motor Spirit (petrol) from Dangote Refinery for local consumption will commence on Sunday, September 15. The Presidential Committee on the Sale of Crude Oil and Refined Products announced this at the end of its meeting in Abuja on Friday night. The Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji,…
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has said Nigeria’s first-ever foreign-currency domestic bond has secured $900m in subscriptions. While discussing the results of the historic bond issuance on Tuesday, Edun noted that the oversubscription reflects investor confidence in Nigeria’s economic stability and potential for growth. “The issuance of this…
The Federal Government through the Federal Competition and Consumer Protection Commission (FCCPC) has issued a one-month ultimatum to traders and market stakeholders to slash prices of goods and services nationwide. Executive Vice Chairman of the commission, Tunji Bello, made the announcement at a stakeholders’ engagement in Abuja, warning that enforcement actions will follow after the…
The federal government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has threatened to shut down any filling stations profiteering from Nigerians by selling Premium Motor Spirit (PMS), also known as petrol, as high as N1,000 per litre. The NMDPRA alleged that several filling stations operated by independent marketers, have raised their prices…
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in collaboration with the Decade of Gas Initiative, on Monday, flagged off the distribution of free cooking gas cylinders to approximately 300 women in Lagos State. Speaking at the event held in Ikeja, Ekpo maintained that the distribution of cylinders is part of the government’s…
The Academic Staff Union of Universities (ASUU) says the federal government has consistently failed on its promises to address the lingering issues hindering the development of Nigeria’s universities. ASUU earlier issued a 21-day notice to the federal government for a nationwide strike. Emmanuel Osodeke, the union’s president, was at the Michael Okpara University of Agriculture…
The Nigerian government has announced the issuance of a $500 million five-year domestic dollar bond, opening for subscription on August 19, 2024. The bond offers a competitive interest rate of 9.75%, aimed at attracting both local and international investors. The bond issuance is part of the government’s ongoing efforts to diversify its funding sources and…