Nigeria has long subsidized fuel for its citizens. The cost of the subsidy is high, and economists and the international financial institutions have argued for many years that it significantly distorts the economy. Since the establishment of civilian government in … read more
Managing Director of International Monetary Fund (IMF) Christine Lagarde yesterday warned the Federal Government that Nigeria may be on the receiving end of the economic shock from Europe because of the volume of her trade all over the world. Lagarde … read more
The Nigeria Bar Association (NBA) yesterday said it will not support the planned removal of subsidy on petroleum by the federal government, which it said amounts to ₦1.3 trillion. This is as the association said revolution like what happened in … read more
Nigeria yesterday took another giant leap on space technology: It returned to space with the successful launch of the Nigeria Communication Satellite (Nigcomsat-1R) into the orbit. At exactly 5.40pm, Nigeria’s replacement communications satellite, Nigcomsat 1R, was successfully launched into space. … read more
As we wait with sort of baited breath to see if petrol will continue to be subsidized or not, as queues at fuel stations snake around our roads for miles, obstructing traffic and raising aggression levels and as the debate … read more
Embattled legislator representing Borno South senatorial district at the Upper Legislative Chamber, Senator Aliyu Ndume, who is standing trial before a Federal High Court siting in Abuja on alleged complicity in terrorist activities, was on Monday granted bail in the … read more
The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi has said the Nigerian banking system is now stable and well positioned to stimulate growth and development of the economy. Sanusi also said that the CBN would … read more
One of the leaders of Nigerian Islamist militant group Boko Haram has been arrested after a shoot-out in the northern city of Kano, police say. Muhammed “Hamza” Aliyu was held as he tried to flee the city after an exchange … read more
Local media reports on Sunday indicated that the Nigeria Police Force has launched a massive plan to combat protests and riots that may occur in reaction to the Federal Government’s removal of subsidy on petroleum products. According to the reports, … read more
Nigeria’s police in northern Kano State on Sunday said three officers were killed by gunmen suspected to be Boko Haram members in Kano metropolis. State Commissioner of Police Ibrahim Idris told reporters on Sunday that the command succeeded in arresting … read more