The Bureau of Public Procurement (BPP) issued 395 ‘No Objection’ certificates to various Ministries, Departments, and Agencies (MDAs) during the 2023 fiscal year, approving projects worth over N2.94tn. This was detailed in the agency’s annual report, which highlighted the government’s commitment to transparency, efficiency, and accountability in public procurement. According to the report, BPP’s intervention
The National Bureau of Statistics (NBS) has announced a decline in Nigeria’s inflation rate, revealing that the headline inflation dropped from 24.48% in January 2025 to 23.18% in February 2025. The latest Consumer Price Index (CPI) report, published on Monday, highlights a 1.30% decrease in inflation compared to the previous month. This marks a positive
In a significant move to support struggling Nigerians, the House of Representatives has announced a donation of N705 million to the Federal Government, aimed at providing relief to vulnerable citizens amid current economic challenges. The donation was formally disclosed by Speaker Tajudeen Abbas on Monday night during an Iftar dinner hosted by President Bola Ahmed
Delta State Governor, Sheriff Oborevwori, has urged real estate firms in the state to lower rental costs to ease the financial burden on tenants. Speaking on Monday at the 13th anniversary and annual convention of Property World Africa Network (PWAN) Marketing Company in Asaba, the state capital, the governor—represented by his Chief of Staff, Mr.
Africa’s richest man and President of Dangote Industries Ltd, Alhaji Aliko Dangote, has announced plans to develop Nigeria’s largest seaport in the Olokola Free Trade Zone (OKFTZ), Ogun State. He also confirmed the revival of a $800 million cement factory project in Itori, Ewekoro Local Government Area, which is now scheduled for completion by November
The Leader of the Senate, Senator Opeyemi Bamidele, has highlighted the challenges faced by President Bola Tinubu in his first 18 months in office, particularly regarding the removal of the fuel subsidy. Bamidele, who represents Ekiti Central in the Senate, stated that the key beneficiaries of the subsidy—members of a powerful cabal—were responsible for making
Operatives of the Benin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested Kelly Okungbowa, popularly known as Ebo Stone, for alleged naira abuse. Okungbowa, the suspended coordinator of the Edo State Public Safety Response Team, was apprehended on Monday. The EFCC’s Head of Media and Publicity, Dele Oyewale, disclosed this in
The Central Bank of Nigeria (CBN) has revealed that external debt servicing cost the nation approximately $5.47 billion between January 2024 and February 2025, highlighting mounting pressure on government revenues, foreign reserves, and fiscal stability. Additionally, total foreign exchange direct remittances increased by 1.3% year-on-year (YoY) to $180.03 million in the first two months of
Fast-growing Nigerian airline, ValueJet, has signed a partnership agreement with the Nigeria Football Federation (NFF) to become the official airline of the federation and the national teams. During a ceremony held at the Remo Stars Sports Institute in Ikenne-Remo, the Chief Executive Officer and Accountable Manager of ValueJet, Capt. Omololu Majekodunmi, expressed the airline’s delight
BY AMIDAT SHITTU OPEYEMI. The Asset Management Corporation of Nigeria (AMCON) has reaffirmed its commitment to recovering an alleged N455 billion debt owed by Arik Air Limited (in receivership) and other associated companies owned by Sir Johnson Arumemi-Ikhide. The corporation emphasized that despite resistance from the airline’s promoter, it remains steadfast in its mission to reclaim the
