Marketers seek N165 petrol price, FG says no

Petroleum product marketers have demanded an upward review in the pump price of the Premium Motor Spirit (also known as petrol). This, they said, would make importation of the product profitable. They said the free fall of the naira against the dollar had made it unprofitable for them to import petrol and sell at the […]

Nigeria in serious crisis – UN report

A report released by the United Nations says Nigeria is in a fix. It said the country had been deeply divided along ethnic, religious and regional lines. It painted a gloomy picture of the country’s economy, noting that most of the development and social indices in the country were below acceptable standards. The report, which […]

The current fuel price is not fair; increase it — NNPC GMDs

A group of persons going by the nomenclature ‘Former and Present Group Managing Directors of NNPC’ aggregated themselves at the NNPC towers and probably ate and drank tea at our expense. The purpose of their meeting? To make life more difficult for Nigerians. How they intend doing it? Increase fuel prize! You heard that right. […]

Gold discovered in Kano state? (Photos )

Nigerian man shares photos of people in Kano state, who are reportedly discovered deposits of gold -He says that people need the help of the federal government because the locals can only dig a little Rufa’i Dabo, who wrote an interesting post after he visited Bagwai and Shanono LGAs in Kano. The man claims that […]

Mazda recalls 2.2 million vehicles over tailgate defect

Japanese automaker Mazda said Thursday it was recalling more than two million vehicles globally over a defect in their tailgates. The recall covers about 400,000 vehicles sold in Japan and 1.8 million units exported overseas, according to a Mazda spokeswoman. It affects six models including the popular CX-3 and CX-5 sport-utility vehicles. No accidents or […]

Naira sinks to record low at N420 against dollar

The continued scarcity of foreign exchange on Wednesday pushed the naira to an all-time-low of 420 against the United States dollar at the parallel market. The currency hit its record low the same day that data released by the National Bureau of Statistics showed that the economy was in recession. The naira has continued to […]

High electricity tariff, others push inflation rate to 17.1%

The National Bureau of Statistics on Wednesday released the Consumer Price Index which measures inflation rate with the index increasing by 0.6 percentage points from 16.5 per cent in June to 17.1 per cent in July. The bureau in the report attributed the increase to high energy prices which it added impacted negatively on the […]

Naira soars at inter-bank market

The naira on Friday strengthened against the dollar at the inter-bank market as the parallel market remained volatile, the News Agency of Nigeria (NAN) reports. The Nigerian currency traded at N314.95 against the dollar in contrast with N338.75 it recorded at the transaction on Thursday. However, at the parallel market, the naira traded at N412 […]

Finally, Oil investments are returning – and so may the Jobs

The oil markets are looking on the bright side, as multi-billion dollar investments are returning to the table, which may in turn lead to thousands of oil-industry jobs lost to the oil bust. More than $11 billion of transactions were announced globally in July as crude’s recovery geared up hopes of a steadier market, Wood […]