Coronavirus Pandemic: FG Set To Borrow N2.53 Trillion From IMF, World Bank And Others

The Federal Government of Nigeria is planning to borrow $6.9 billion dollars (N2.53 trillion) from World Bank, International Monetary Fund (IMF), and African Development Bank to arrest the spread of the coronavirus as is set to cripple the Nigerian economy.

FG Slashes Petrol Pump Price Further To N123.5 Per Litre

The Federal government has today announced a further slash in the pump price of Premium Motor Spirit (PMS) also called petrol to now N123.5 per litre.

Stimulus Package: Reps Proposes Electricity Bill Waiver For 60 Days

Speaker, House of Representatives, Rep. Femi Gbajabiamila said the House is proposing a stimulus package that will ensure that Nigerians get free electricity supply for 60 days so as to mitigate the effects of the COVID-19 pandemic. Adding that electricity necessary commodity consumed by every household and will thus have a great impact.

Oil Sinks Further By 8%, Now $22.50BP

Oil took another eyewatering 8% tumble (selling at $22.50 bp) on Monday after been hit by a fight for market share between Saudi Arabia and Russia, with neither showing signs of backing down even as global transport restrictions hamper demand. The world shares have buckled again and fears are beginning to mount as the global coronavirus shutdown could last for months.

OPEC To Intervene In Russia-Saudi Arabia Oil Price War

OPEC and other oil producers have been summoned over an emergency meeting to quench the current oil war between Russia and Saudi Arabia and to also bring stability in the oil market which have been in turmoil since a deal on supply curbs collapsed.

The Central Bank of Nigeria has suspended of the sale of Foreign Exchange (Forex) to Bureau De Change Operators (BDCs) in the country, issuing a two weeks market holiday.According to Alhaji Aminu Gwadabe, President of the Association of Bureau De Change Operators of Nigeria (ABCON),

Pay Workers Their 'Full' Salary, Buhari Tasks Ministry of Finance

President Muhammadu Buhari has directed the Ministry of Finance, Budget and National Planning to ensure that Nigerian civil servants receive their salaries as soon as possible.

Airline Operators in Nigeria Suspends Operation Over COVID-19

Domestic airline operators in Nigeria have commenced the suspension of all flight operations over Coronavirus outbreak in the country. The suspension of operations is coming on the heels of an earlier memo from the Nigerian Civil Aviation Authority (NCAA) announcing the closure of all airports to international flights.

Looming Electricity Tariff Hike: NERC Suspend Action Till June 30

The Nigerian Electricity Regulatory Commission (NERC) following the hit from the COVID-19 pandemic has directed the 11 Distributions Companies (DisCos) to suspend the Electricity tariff hike which was slated to commence today until June 30th, 2020.

FIRS Appoints New Directors, Retires Others

Following approval by the Board of the Federal Inland Revenue Service (FIRS) to retire directors that have served up to eight years, the board has on Wednesday approved the appointment of four Coordinating Directors and two Group Leads.