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The three tiers of government on Tuesday shared the revenue allocation of N1.35 trillion for June. The figure is N150 million higher than the N1.2 trillion distributed by the federal, state and local governments in May. Director of Information and Public Relations in the Ministry of Finance, Mohammed Manga, who disclosed this in a communique issued at the end of …

Only in the first week of July, long queues at petrol stations in several states, including Lagos and the Federal Capital Territory, Abuja, resurfaced due to a ‘fuel shortage’. Several media outlets reported how motorists and residents were struggling to afford petrol at soaring prices. At the beginning of the development, the cause of the shortage was unknown. Later, the …

President Bola Tinubu will hold a follow-up meeting with labour leaders on Thursday to reach a consensus on a new minimum wage, according to Minister of Information and National Orientation, Mohammed Idris. Idris told reporters after the 15th Federal Executive Council meeting at the State House, Abuja, on Monday that Tinubu would hold a follow-up meeting with labour leaders as …

Here are the top 10 stories making headlines across the country. 1. The court ordered former minister, Lai Mohammed, to reveal details of the agreement between FG, X, formerly known as Twitter The Federal High Court sitting in Lagos, in a landmark ruling, has ordered Alhaji Lai Mohammed, former Minister of Information and Culture and the Ministry of Information to …

The National Bureau of Statistics (NBS) has revealed that Nigeria’s headline inflation rate rose to 34.19 percent in June. This figure is up from 33.95 percent recorded in May. The bureau stated in the Consumer Price Index (CPI) released on Monday in Abuja. CPI is a tool used to measure the rate of change in prices of goods and services. …

In a dramatic session on Monday, the Rivers State House of Representatives, under the leadership of Martin Amaewhule, imposed a freeze on all expenditure by Governor Siminalayi Fubara’s administration until he presents the 2024 budget to lawmakers. The move follows a seven-day ultimatum issued by the Assembly to Governor Fubara, demanding the immediate submission of the state budget. During the …

The equity market started on a positive note on Monday, July 15, 2024 as investors earned N172 billion at the end of the trading session. This follows the increase in stock prices such as CUTIX, IKEJA HOTEL and ROYALEX among others on the trading floor. After five hours of trading on the capital market, equity capitalization increased to N56.608 trillion …

Airtel Africa, WAPCO, Dangote Sugar and PRESCO top the list of stocks to watch this week as investors struggle to recover from last week’s tiring trading session. Nigerian equity market plunged in four out of five trading sessions as the benchmark All Share Index (ASI) plunged -0.35% to close at 99,671.28 points from 100,022.03 points in the previous week. Investors …

It has been a forgettable week for investors in the Nigerian equity market after a cumulative loss of N139.89 billion in the just-ended trading week. The exchange recorded losses on four of the five trading days, but made a profit on only one trading day. Market capitalization dropped to N56.44 trillion from N56.58 trillion the previous week. Similarly, the All …

The Federal High Court sitting in Lagos, in a landmark ruling, has ordered Alhaji Lai Mohammed, former Minister of Information and Culture and the ministry of information to disclose details of the agreement between the Federal Government and X, formerly Twitter. The court said this was done to assess whether the agreement was compatible with the exercise of Nigerian citizens’ …