Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has warned that rather than being a positive development, the rising prices of crude oil in the
A Nigerian court has sentenced Francis Atuche, a former Managing Director of the defunct Bank PHB (now Keystone Bank), to six years imprisonment for defrauding the bank of N25.7 billion (about
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Tuesday said efforts are ongoing to reduce the country’s import bill by about 35 per cent. He
The World Bank has stated that inflationary pressure in Nigeria has pushed about seven million Nigerians below the poverty line in 2020 alone. The World Bank gave the data in
British inflation unexpectedly jumped above the Bank of England’s 2.0% target in May when it hit 2.1% and looks set to rise further as the country re-opens its economy after
The international price of crude oil continued its rise Monday, extending three weeks of gains on the back of improving outlook for fuel demand as countries ramp up the lifting
Nigeria’s Minister of Transportation, Mr. Rotimi Amaechi, on Monday unfolded plans by the federal government to take more Chinese loans to expand rail services to more states. Amaechi, who featured
[bc_video video_id=”6258788813001″ account_id=”6116119081001″ player_id=”default” embed=”in-page” padding_top=”56%” autoplay=”” min_width=”0px” playsinline=”” picture_in_picture=”” max_width=”640px” mute=”” width=”100%” height=”100%” ] Nigeria’s Minister of Transportation Rotimi Amaechi says the country has already commenced repayment of loans
Tanzanian President Samia Suluhu Hassan has urged the country’s central bank to be prepared for the use of digital currencies. President Samia told the Bank of Tanzania on Sunday to
Prior to the indefinite suspension of Twitter across Nigeria, many users nationwide relied on the social media platform to conduct businesses and to stay connected. In this report, Arise Correspondent
Nigeria’s crude oil production output hit record low levels in May, the June Monthly Oil Market Report (MOMR) of the Organisation of Petroleum Exporting Countries (OPEC), has shown. The monthly
A new report by Financial Derivatives Company Limited (FDC) has indicated that Nigeria’s oil and gas industry loses as much as $15 billion in investments annually due to the delayed
The Group of Seven richest democracies sought on Saturday to counter China’s growing influence by offering developing nations an infrastructure plan that could rival President Xi Jinping’s multi-trillion-dollar Belt and
A mystery bidder has paid $28m (£20m) for a seat on Amazon founder Jeff Bezos’s first crewed spaceflight by the billionaire’s Blue Origin company. This winning bid was made at
The Central Bank of Nigeria (CBN) has unveiled plans to launch a digital currency before December. The Director, Information Technology, CBN, Ms. Rakiya Mohammed, said Thursday during a virtual media
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, on Thursday admitted that the federal government is exceeding its borrowing plan for 2021, blaming the development on the COVID-19
Nigeria’s federal government has prepared a supplementary budget of N895.84 billion for the provision of COVID-19 pandemic vaccines and military hardware, which it will soon present to the National Assembly.
The Nigerian National Petroleum Corporation (NNPC) on Wednesday predicted that oil price could climb as high as $200 per barrel, as banks and major International Oil Companies (IOCs) withdraw from
A leading civil society organization, Centre for Social Justice (CSJ) has reminded the federal government that Twitter and other social media platforms belong to the Information Communications sector which contributed
The World Bank has increased Nigeria’s Gross Domestic Product (GDP) growth projection for 2021 to 1.8 per cent, higher than the 1.1 per cent it had estimated for the country
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