Category: Business
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KOGUNAN GUSAU DONATES 1000 RAMS TO MEMBERS OF APC IN ZAMFARA STATE
A former candidate for the All Progressives Congress (APC) in Zamfara state, Hon. Muktar Shehu Idris, Kogunan Gusau) has donated 1000 Rams to party members in the state. Idris, the party’s flag bearer who won the 2019 Zamfara state election before the Supreme Court pronounced it null and illegal, donated the Rams through Engr. Babangida…
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Dangote Reveals Attempts by Oil Mafia to Halt Refinery Project
By Milcah Tanimu Aliko Dangote, the founder of Dangote Group, has disclosed that both local and international criminal organizations, which he referred to as “mafia,” made repeated efforts to sabotage his $19 billion refinery project located in Lagos. Speaking at the Afreximbank Annual Meetings, Dangote compared the oil cartels to a mafia stronger than the…
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Why Governor Alia is Paying Salaries, Pensions and engaging in critical infrastructures at the neglect of political allies?
By Sylvester T. Kurga Reverend Father Hyacinth Iormem Alia contested for the governorship of Benue State in the 2023 elections under the platform of the All Progressive Congress (APC) and won. He was sworn-in on the 29th may, 2023. At his inaugural and even during electioneering campaigns he made promises to the people of Benue…
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CBN Dispels Licence Revocation Rumours, Reassures Public
The Central Bank of Nigeria (CBN) has reassured the public about the safety of their deposits and the stability of the banking system. This statement follows concerns raised after the revocation of Heritage Bank Plc’s licence. In response to claims that the CBN was considering revoking the operating licences of Fidelity, Polaris, Wema, and Unity…
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SEC Approves Nigeria’s First Naira-Denominated Private Debt Fund
The Securities and Exchange Commission (SEC) has approved the FCMB-TLG Private Debt Fund, marking Nigeria’s first naira-denominated private debt fund. Sponsored and managed by FCMB Asset Management Limited (FCMBAM) with technical support from TLG Capital Investments Limited (UK), the fund was established in May 2024. The FCMB-TLG Private Debt Fund aims to raise N10 billion…
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New Economic Plan Reveals Potential N5.4tn Fuel Subsidy Bill
By Milcah Tanimu The Federal Government of Nigeria may incur a fuel subsidy expenditure of approximately N5.4 trillion, according to a proposed economic stabilization plan outlined in the Accelerated Stabilization and Advancement Plan report, obtained Online on Wednesday. Presented by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to President Bola…
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Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 5th June 2024
By Milcah Tanimu The Dollar to Naira exchange rate at the black market today, 5th June 2024, is as follows: These rates are sourced from Bureau De Change (BDC) operators in Lagos. The Central Bank of Nigeria (CBN) does not recognize the black market and directs individuals seeking foreign exchange to approach their banks. For…
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Current Prices of Refilling Cooking Gas Per Kilogram in Nigeria
As of today, May 31, 2024, the average price for refilling cooking gas per kilogram remains relatively stable across Nigeria, with minor variations ranging from ₦1,400 to ₦1,500. Despite these slight differences, the average price stands at ₦1,420 per kilogram. The increased utilization of cooking gas in Nigeria, not only for cooking but also for…
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Nigeria’s Growth Rate Projected to Increase to 4.4% in 2025, Says AfDB
The African Development Bank (AfDB) has forecasted an optimistic outlook for Nigeria and other West African countries, with the growth rate expected to rise from an estimated 3.6% in 2023 to 4.2% in 2024 and further to 4.4% in 2025. Kevin Urama, the Vice-President and Chief Economist of AfDB, made this announcement during the unveiling…
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Manufacturers and Labor Unions Demand Urgent Action from Tinubu on Forex Crisis and Inflation
As President Bola Ahmed Tinubu’s administration marks one year in office today, manufacturers and labor unions across Nigeria are calling on the federal government to urgently address the instability in the forex market and rising inflation, which are severely impacting both citizens and businesses. In interviews with LEADERSHIP, industry stakeholders highlighted numerous issues such as…