By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) has finally acknowledged its “significant debt to petrol suppliers,” a situation that the company admits threatens the sustainability of fuel supply in Nigeria. This admission comes amidst reports that a $6 billion debt owed by NNPCL has exacerbated the ongoing petrol scarcity, a persistent issue…
Justice Emeka Nwite of the Federal High Court in Abuja has ordered the remand of 10 protesters involved in the #EndBadGovernance demonstrations in prison custody. On Monday, the judge directed that nine male protesters be held at Kuje Prison, while a female protester was sent to Suleja Prison. The court has scheduled September 11 for…
Amnesty International has strongly condemned the planned mass trial of hundreds of protesters arrested during the nationwide hunger and hardship demonstrations held from August 1 to 10, 2024. In a statement released on Monday by Isa Sanusi, the Country Director of Amnesty International Nigeria, the organization labeled the trials as a blatant attempt to punish…
Eniola Bolaji has made history as the first African athlete to win a medal in Para-Badminton at the ongoing Paris 2024 Paralympic Games. Bolaji secured a bronze medal for Nigeria in the Women’s Singles SL3 category after a commanding victory over Ukraine’s Kozyna Oksana, winning 21-9, 21-9. Following her triumph, Nigeria’s Minister of Sports Development,…
By Ayomide Otitoju Fidelity Bank Plc, in partnership with Mastercard, has announced the launch of a groundbreaking initiative aimed at enhancing cross-border payments and remittances in Nigeria. The new product, Fidelity Send, leverages Mastercard’s extensive global network to facilitate near-real-time and cost-effective outbound transactions, a move set to drive financial inclusion across the country. In…
Nigerian households are bracing for a significant increase in spending on food, driven by the nation’s soaring inflation rate, according to a recent survey conducted by the Central Bank of Nigeria (CBN). The survey, which ran from July 22 to 26, 2024, revealed that households expect to allocate a substantial 54.9% of their income to…
By Ayomide Otitoju Zenith Bank Plc has reported a remarkable 117% increase in gross earnings, climbing from N967.3 billion in the first half of 2023 to N2.1 trillion in the same period of 2024. This significant growth was driven by substantial gains in both interest and non-interest income. In its half-year financial results filed with…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) is grappling with significant financial challenges as escalating costs associated with the supply of Premium Motor Spirit (PMS) threaten the sustainability of its operations. This development has raised serious concerns about the long-term stability of fuel availability across the country. The NNPCL made this disclosure…
Abdul Samad Rabiu, Chairman of BUA Cement, has attributed the skyrocketing cost of cement in Nigeria to the exploitation of consumers by middlemen within the supply chain. Rabiu made this statement during the company’s 8th Annual General Meeting held recently in Abuja. Rabiu disclosed that despite BUA Cement’s policy to sell cement at a controlled…
