Business

6,700 traders’ goods lost to Mandilas building fire – NEMA

No fewer than 6,700 traders lost their goods to a fire that gutted the popular Mandilas building on Broad Street, Lagos Island Local Government Area of Lagos State on Sunday. This is just as 450 shops, 30 offices, two hotels, and five restaurants were destroyed by the impact of the fire which affected the 14-storey […]

Lagos orders trado-medical practitioners to register their businesses or face sanctions

The Lagos State Government has vowed to impose sanctions on traditional medical practitioners operating in the state if they fail to register their premises with Lagos State Traditional Medicine Board (LSTMB). The LSTMB Registrar, Babatunde Adele, made this known in a statement on Sunday, ordering all traditional, complementary and alternative medicine practitioners, to regularise their […]

Petrol Price Increased By 225% In 12 Months – NBS

The National Bureau of Statistics (NBS) has stated that the average retail price paid by consumers for Premium Motor Spirit (petrol) for December 2023 was N671.86, indicating a 225.85% increase year-on-year. In a report, the bureau said the value of the product was N206.19 in December 2022. When compared to the previous month of November […]

Customs Generates N1.172trn From Import In Apapa Port In 2023

The Apapa Command of the Nigeria Customs Service (NCS), on Friday, said it generated N1.172 trillion from import into Lagos Port from January to December, 2023.Customs Area Controller, Compt. Babajide Jaiyeoba, said the 2023 collection was 14.6 per cent higher than the 2022 figures, a press statement by the command’s Public Relations Officer, Usman Abubakar, […]

Diesel price rise by 6.74% amid Dangote refinery takeoff

As Nigerians wait eagerly for the impact Dangote Petroleum Refinery will have on the energy sector, the prices of automotive gas oil also known as diesel and that of premium motor spirit (PMS) have continued to be on the rise. The National Bureau of Statistics (NBS) in its report on the prices of the two […]

Customs to commence e-auction Tuesday

The Nigeria Customs Service on Friday said the service would unveil its revamped e-auction platform on Tuesday. The National Public Relations Officer of the service, Abdullahi Maiwada, announced this in a statement. Maiwada said the move was in pursuit of its commitment to continuously improve the service. He added that the move aligned with the […]

Dangote Petroleum Refinery Commences Production

Dangote Petroleum Refinery has commenced production of diesel and aviation fuel.  President of Dangote Group, Alhaji Aliko Dangote, elatedly thanked President Bola Ahmed Tinubu for his support, encouragement, and thoughtful advice towards the actualisation of this project.Dangote also thanked the Nigerian National Petroleum Company Limited (NNPC Limited), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian […]

PalmPay Urges Users to Revalidate KYC Ahead of January 31 Deadline

Ahead of the January 31, 2024 deadline given by the Central Bank of Nigeria (CBN) for existing users of Fintech companies to upgrade their wallets, PalmPay has urged its users to upgrade their Know Your Customer (KYC) details before the deadline.Fintech users affected by the CBN directive are grouped into three categories: New users are […]

NAIRA NOTES SCARCITY: Crunch worsens, banks ration cash across the counter

Customers frustrated as some banks shut ATMs lPoS operators jerk up charges, say they’re sourcing cash outside banks  It’s deliberate act of economic sabotage – Muda Yusuf By Peter Egwuatu, Udeme Akpan, Yinka Kolawole, Godwin Oritse  Nkiruka Nnorom, Obas Esiedesa, Emmanuel Elebeke & Mariam Eko Fresh developments in the financial sector have shown that despite the Central Bank […]

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