NLC declares nationwide strike from Wednesday over fuel price increase
Business a.m.
June 2, 2023
By Business A.M. The Nigeria Labour Congress (NLC) has announced that its members will embark on a nationwide strike from June 7, if the federal government through the Nigerian National Petroleum Company Limited (NNPCL) fails to revert to the old pump prices of petrol across the country. Joe Ajaero, the NLC president made this known […]
Telcos issue banks disconnection notice over N120bn USSD debt
Business a.m.June 2, 2023
By Business A.M. Telecommunication companies have issued Deposit Money Banks (DMBs) a disconnection notice, containing a firm decision to disconnect DMB customers from accessing bank services through Unstructured Supplementary Service Data (USSD) over allegations of service debt worth N120 billion. According to the telcos, the notice of disconnection became applicable after the Nigerian Communications […]
FG, labour unions fail to reach agreement over petrol subsidy removal
Business a.m.June 1, 2023
By Business A.M. A meeting held between the federal government and the organised labour unions in Nigeria concerning the removal of fuel subsidy has been adjourned after both parties failed to reach a consensus on the issue. The labour unions were represented at the Presidential Villaa by Joe Ajaero, president of the Nigeria Labour Congress […]
Petrol to cost N500 per litre as NNPC increases prices nationwide
Business a.m.May 31, 2023
By Business A.M. The Nigerian National Petroleum Company Ltd (NNPCL) has effected an upward adjustment in the price of petrol across the country to an average of N500 per litre, following President Bola Tinubu’s declaration to stop fuel subsidy. NNPC, in a new table of retail prices to be charged across its retail outlets across […]
NEITI offers strategic measures to manage fuel subsidy removal
Cynthia EzekweMay 31, 2023
By Cynthia Ezekwe The Nigeria Extractive Industries Transparency Initiative (NEITI) has unveiled measures to manage subsidy removal while mitigating the potential adverse impacts it will have on the citizens. The national body responsible for ensuring transparency and accountability in the extractive industries geared towards the enhancement of national development, welcomed president Bola Tinubu’s position that […]
Think-tank urges Tinubu to withhold accent to amended CBN Act on ways and means
Business a.m.May 31, 2023
By Business A.M. The Centre for Social Justices (CSJ) has urged President Bola Tinubu to withhold accent to the recent amendment to the CBN Act by the National Assembly,increasing advances the CBN can grant to the federal government from five percent to 15 percent. Eze Onyekpere, the lead director of the foremost non-governmental institution focused […]
Petrol queues, panic buying resurface after Tinubu’s fuel subsidy removal statement
Onome AmugeMay 30, 2023
By Onome Amuge President Bola Tinubu’s recent declaration to put an end to the fuel subsidy era has resulted in fuel queues and increase in fuel prices across some Nigerian cities, particularly Lagos and Abuja, the commercial and federal capital centres of the country, respectively. The 16th president of Nigeria, in his inauguration speech stated […]
Nigeria’s 8-years of inept whirlwind economy, governance finally over
PHILLIP ISAKPAMay 29, 2023
BY PHILLIP ISAKPA, IN LONDON, UK Buhari ends second disastrous adventure into power Many political and economic analysts, both local and foreign, majority of the latter regarded as friends of Nigeria, told Business A.M., that across the length and breadth of Nigeria there would be deafening jubilation today when President Muhammadu […]
Tinubu declares end of petrol subsidy regime
Business a.m.May 29, 2023
By Business A.M. President Bola Ahmed Tinubu, Nigeria’s new president has declared an end to the fuel subsidy regime in the country, stating that it can no longer justify its ever-increasing costs in the wake of drying resources. Tinubu, who made this known during his inaugural speech as president, commended the decision of the outgoing […]
Think-tank seeks paradigm shift on electricity crisis by new govt.
Cynthia EzekweMay 29, 2023
By Cynthia Ezekwe A practical solutions finding non-profit think-tank wants a radical departure from Nigeria’s failed decades’ old approach to seeking solutions to the country’s electricity supply crisis by the new government of President-elect Bola Ahmed Tinubu, who was sworn in Monday 29 May, 2023 as president of the Federal Republic of Nigeria. In a […]