Borno State Governor, Babagana Umara Zulum, has officially signed the 2025 appropriation bill into law, with a total value of N615.8 billion. The budget, which was passed by the State House of Assembly on December 24, 2024, saw a slight increase of N31 billion from the initial N584.76 billion estimate. The signing ceremony took place … Read more
The Central Bank of Nigeria (CBN) reported a 63.7% increase in remittance inflows through international money transfer operators (IMTOs) for the first nine months of 2024. Inflows rose from $2.33 billion in 2023 to $3.82 billion this year. This growth is attributed to reforms by CBN Governor Olayemi Cardoso, who assumed office in September 2023. … Read more
BUA Group has denied claims that its refinery in Akwa Ibom is 90% complete. The company said construction is progressing on schedule. BUA clarified that the refinery is not yet at 90% completion. They assured the public that they are on track to meet the delivery timeline. The refinery is vital for Nigeria’s energy security. … Read more
Paul Onwuanibe, the founder of Landmark Africa Group, has revealed that the Nigerian government’s demolition of Landmark Leisure Beach destroyed over $30 million in investments and led to the loss of thousands of jobs. Onwuanibe shared the impact during an interview on The KK Show on Sunday, stating that the beach was initially acquired in … Read more
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) is alarmed by the state of Nigeria’s private sector in 2024. The group warns that without quick economic reforms, the sector may face long-term instability. NACCIMA’s National President, Dele Kelvin Oye, expressed deep dissatisfaction with the economic performance. He pointed out that high … Read more
Investor confidence in Nigeria’s equities market remains low, despite stronger regulations. Local and foreign investors are prioritizing safety over opportunity. Regulatory bodies like the Securities and Exchange Commission (SEC), Nigerian Exchange Group (NGX), and Central Bank of Nigeria (CBN) are working to stabilize the market. The Investment and Securities Bill (ISB) 2024 aims to address … Read more
Senator Ned Munir Nwoko, representing Delta North senatorial district, has proposed a bill to strengthen the naira’s value. The bill seeks to prohibit the payment of salaries and transactions in foreign currencies in Nigeria. It has passed the first reading in the Senate and is titled “A Bill for an Act to Alter the Central … Read more
The Enugu Electricity Distribution Company (EEDC) has raised concerns over the recent vandalism of electricity installations in Abakaliki. According to a statement from EEDC’s Head of Corporate Communications, Mr. Emeka Ezehon, power outages in parts of Abakaliki were caused by the destruction of the Udemezue 11KV Feeder. The affected areas include Oroko-onuoha, Udensi, Kpirikpiri, Ogbaga … Read more
In his New Year message, Abubakr Dokubo-Asari, the Da-Amakiri Tubo and Amanyanabo of the Elem Kalabari Kingdom, urged the Kalabari diaspora to invest in their homeland. He encouraged them to build homes and start businesses in the Kalabari Kingdom, rather than buying land elsewhere. Dokubo-Asari emphasized the wealth of resources in the region, including oil, … Read more
The 13th-month pay is often seen as a well-deserved holiday bonus. While it’s tempting to spend it on short-term pleasures, there are ways to use this windfall to secure your financial future. Here are eight smart ways to invest your 13th-month pay: Assess Your Financial Situation First Before spending, take a close look at your … Read more