Petrol Scarcity Looms Over Hike In Diesel Price

Oil marketers under the aegis of Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), have lamented that they can no longer sustain the distribution of petroleum products across the country. This is as a result of the increase in the price of diesel used by these marketers to power their trucks. Diesel now sells for N1,100/litre in many locations. The marketers requested the urgent intervention of the federal government to arrest the situation.

ABCON Requests CBN To Grant BDCs Autonomy To Go Digital

The Association of Bureau De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to accord them autonomy to go digital. This is in line with the CBN’s tech reforms for BDCs for rate convergence and ABCON’s various digitization reforms for Bureau de Change operators from 2016 to date. In a statement on Sunday, Aminu Gwadabe, president of ABCON, urged CBN to grant a no-objection approval for the BDCs to fully digitise their operational correspondences.

Nigeria's Debt Rises By 75% To N87.38trn In Q2

Nigeria's total debt stock has increased by 75.27 percent in the Second Quarter of 2023 to N87.38 trillion, from the N49.85 trillion recorded in Q1 2023. This was disclosed by the Debt Management Office (DMO) in its latest report on Thursday. According to the debt office, the surge was occasioned by the N22.71 trillion ways and means advances obtained by the federal government from the Central Bank of Nigeria (CBN). This total debt represents a N37.53 trillion increase in total public debt, compared to the N49.85 trillion reported at the end of the first quarter (Q1) of the year.

Metered Electricity Customers In Nigeria Rise To 5.47 Million

The number of metered electricity customers in Nigeria has increased to 5.47 million in the second quarter of 2023. The National Bureau of Statistics’ (NBS) latest data on ‘Nigeria Electricity Report Q2 2023: Energy Billed, Revenue Generated And Customers By DISCOS’ disclosed this on Friday. Accordingly, the 5.47 million metered electricity customers figure represented a 3.10 per cent increase from the 5.31 million recorded in Q1 2023. In a combined figure, the total number of electricity customers in Q2 2023 stood at 11.47 million from 11.27 million in Q1 2023.

Breaking: Tinubu Nominates Cardoso as New CBN Governor

President Bola Ahmed Tinubu has approved the nomination of Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN). According to the presidential spokesman, Ajuri Ngelale, who made this disclosure on Friday evening, the nominated CBN governor will serve for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.

We Will Task Customs To Evacuate Overtime Cargo – Minister

Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola, has pledged a good working relationship with the Nigerian Customs Service, NCS, to ensure adequate and efficient overtime cargo that has been congesting the port since 2011.

Naira Weakens Against Dollar Over Forex Scarcity

Naira plummeted against the dollar on Wednesday after closing at 950/$ at the parallel market as the forex crisis persists. Meanwhile, at the official market, the Naira closed at 758.12/$1 on Wednesday from N742.10/$1 on Tuesday, according to FMDQ forex data.

FG Issues Illegal Miners 30-Day Ultimatum

The Federal Government (FG) has issued a 30-day ultimatum to illegal miners in the country to desist from such illegal activities and join a miners’ cooperative. This was made known on Sunday by Dele Alake, the Minister of Solid Minerals Development during the launch of the ‘Agenda for the Transformation of the Solid Minerals for International Competitiveness and Domestic Prosperity’.

Passport Issuance: FG Relocates NIMC To Ministry of Interior

In a bid to improve the issuance of international passport, the Federal Government (FG) has relocated the National Identity Management Commission (NIMC) to the Ministry of Interior. This development was as a result of the current difficulties associated with the National Identity Number (NIN), which is a key requirement for the application and procurement of international passports.

GTCO Records Pre-tax Profit Of N327.4bn 

Guaranty Trust Holding Company Plc, has recorded profit before tax of 327.4bn in the first half of 2023 financial period. The company revealed the above in its Audited Consolidated and Separate Financial Statements for H1’23 released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). “The Group reported profit before tax of N327.4bn, representing an increase of 217.1 per cent over N103.2bn recorded in the corresponding period ended June 2022,” the statement said.