In a significant move towards sustainable development, Governor Babajide Olusola Sanwo-Olu today presented the Year 2025 Budget Estimates of N3.005 trillion to the Lagos State House of Assembly. The budget, aptly christened the “Budget of Sustainability,” aims to foster continuity, resilience, and prosperity for Lagosians. The Y2025 budget is structured around five key pillars: Infrastructure Read More…
Governor Babajide Olusola Sanwo-Olu is set to present the Y2025 Appropriation Bill to the Lagos State House of Assembly on Thursday, November 21, 2024, at noon. This highly anticipated event will unveil the “Budget of Sustainability,” a comprehensive plan to foster continuity, resilience, and prosperity for Lagosians. The Y2025 budget, dubbed the “Budget of Sustainability,” Read More…
In a significant boost to its oil output, Nigeria’s state oil firm, the Nigerian National Petroleum Corporation (NNPC), announced on Thursday that it has increased oil production to 1.8 million barrels per day (bpd). This marks a substantial rise from the 1.3 million bpd recorded in October, as reported by the Organisation of the Petroleum Exporting Read More…
The Nigerian government has unveiled its Medium Term Expenditure Framework (MTEF) for 2025-2027, proposing a total expenditure of ₦47.9 trillion for the 2025 fiscal year. This ambitious plan aims to drive economic growth and development across various sectors. The MTEF includes several critical assumptions and projections: The MTEF is a crucial document that outlines the government’s fiscal Read More…
The Nigerian Ports Authority (NPA) has announced a strategic initiative to enhance connectivity between Export Processing Terminals (EPTs) and Domestic Export Warehouses (DEWs) across the country. This move aims to streamline export processes and create pathways for small and medium-scale enterprises (SMEs) to thrive. The Nigerian Ports Authority, established in 1954, is responsible for managing and Read More…
Efforts are currently underway to restore power after the Nigerian national grid collapsed on November 5, 2024, at approximately 1:52 PM. The Transmission Company of Nigeria (TCN) has deployed engineers to address the issue, with an expected restoration time of several hours. “Our team is working tirelessly to ensure that bulk power supply is restored Read More…
The rich also cry. I have seen wealthy and successful people break down in tears and despondency. You would think that some people have everything made in their favour; the sun smiles at everything that they do. The gods are queuing to crack the rich man’s kernels lest he bites his tongue while attempting the Read More…
In a significant milestone for Nigeria’s fintech sector, Moniepoint has achieved “unicorn” status after raising $110 million from investors, including Google. This development is a rare bright spot in an otherwise challenging funding environment for African technology companies. The funding round, led by London-based private equity firm Development Partners International (DPI) and supported by Google’s Read More…
President Bola Tinubu has decisively rejected the National Economic Council’s (NEC) recommendation to withdraw the proposed tax reform bills currently before the National Assembly. This decision underscores his commitment to allowing the legislative process to proceed, ensuring that necessary inputs and changes can be made without withdrawing the bills. “The legislative process, which has already Read More…
Governor Umo Eno of Akwa Ibom State has addressed concerns surrounding the multi-billion naira 18-storey Ibom Towers project in Lagos. Amidst criticisms from individuals and Civil Society Organisations (CSOs) about potential capital flight from Akwa Ibom State, Governor Eno has reassured the public of the project’s benefits. During the project’s flag-off in Victoria Island, he Read More…
