Dangote Refinery Crashes Prices Of Diesel, Aviation Fuel

Dangote Refinery has announced a reduction in the price of diesel. The new price for customers buying 5 million litres and above is N940/litre, as opposed to the previous price of ₦1000/litre. For customers buying one million litres and above, the price is ₦970/litre. Additionally, the company has set the price of aviation fuel at N980 per litre. The announcement was made by the Head of Communications, Mr. Anthony Chiejina. According to him, the new prices are aimed at alleviating the economic hardship faced by citizens.

CBN Increases Interest Rate From 18.75% To 22.75%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) by 400 basis points to 22.75% from the previous rate of 18.75%. This was made known to journalists on Tuesday by the CBN Governor, Olayemi Cardoso, immediately after the first MPC meeting of the year.

Tinubu Appoints New Boards For SEC, NAICOM

President Bola Tinubu has approved the appointment of several Nigerian professionals to the Board of the Securities and Exchange Commission (SEC). The announcement was made in a statement issued by Ajuri Ngelale, Special Adviser to the President on Media and Publicity. Mr. Mairiga Aliyu Katuka has been appointed as the Chairman of the board of SEC, while Mr. Emomotimi Agama has been appointed as the Director-General of the board.

Nationwide Protest: Labour Disregards DSS Warning, Insist On Protest

The Nigeria Labour Congress, NLC, has disregards the Department of State Services, DSS, advisory to shelve its planned nationwide protest in the interest of peace and public order. 

2024 Budget: N3.7trn Projects Value Not Visible – Sen. Ningi

The Chairman of the Northern Senators Forum, NSF, Senator Abdul Ningi of the PDP-Bauchi Central, has asserted that projects valued at N3.7 trillion in the 2024 Appropriation Act is not visible.

Economic Hardship: Customs To Distribute Seized Rice, Others

The Nigeria Customs Service, NCS, has stated that the agency will distribute seized rice and other food items to reduce food security challenges in the country.

Tinubu Directs Customs To Return Seized Food Items To Owners

The Nigerian President, Bola Tinubu has directed the Nigeria Customs Service, NCS, to release seized food items at the border communities to the rightful owners, with the order that the items should be sold in Nigerian markets. The Controller-General of Customs, Adewale Adeniyi, revealed this while meeting with people from border areas at Kongolam and Mai’Adua border stations in Katsina State on Saturday.  Adeniyi stated that the authority was not based on legal guidelines, but rather reflecting the deep sense of generosity he holds towards Nigeria. 

Economic Hardship: NLC Declares Nationwide Shutdown

The leadership of Nigeria Labour Congress, NLC, has declared a two-day nationwide mass protest for February 27 and 28 following the worsening economic hardship in the country.

Port Harcourt-Aba Train Service Set To Commence Operations

The Federal Government (FG) through the Nigeria Railway Corporation (NRC) announced that the Port Harcourt to Aba train service is set to commence operation by the end of March 2024. This was made known by the Managing Director of NRC, Fidet Okhiria during an inspection tour of the facility in Port Harcourt, Rivers State.

NDIC, CBN Commences Supervision Of Banking System

The Nigeria Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria (CBN) have commenced supervision of the banking sector to guarantee that non-performing loan ratio continues below the maximum threshold set.