Business & Economy - Page 3 of 7 - ProbitasNews

Mr Folashodun Adebisi Shonubi has been appointed as the acting Governor of the Central Bank of Nigeria by President Bola Tinubu. Shonubi’s appointment came after the suspension of CBN Governor Godwin Emefiele on Friday. He was the Deputy Governor, Operations Directorate, prior to his appointment. Tinubu’s media aide, Bayo Onanuga, revealed this in a post on his Twitter handle on Friday. Read Also: HENSARD University will promote academic excellence in Nigeria – Dickson “Folashodun Adebisi Shonubi...

According to the Central Bank of Nigeria, the Federal Government had a N930.8 billion fiscal deficit in January and February 2023. The estimated overall fiscal deficit of the FGN increased in February as a result of a decline in retained revenue, the CBN reported in its monthly economic report for February 2023. “At N513.05 billion, the FGN’s provisional fiscal deficit increased by 22.8% from the previous month. However, it fell 16.2% short of the benchmark...

  In an effort to allay Nigerians’ concerns, Group Chief Executive Officer of Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, stated yesterday that the current high price of petrol will crash in a very short period of time. Recall that the business developed a new template that set the product’s price at between N488 and N557 per litre nationwide. He provided the reassurance in an interview for the Lagos-accessible Morning Show programme on Arise...

On Tuesday, as residents resorted to panic buying, the cost of Premium Motor Spirit, also known as petrol, rose to as much as N700 per litre in some areas of Anambra State. This follows President Bola Tinubu’s Monday inauguration speech announcement that subsidies would be removed.   The few stations that did sell the product reported long lines, with some of them selling for between N250 and N350 per litre before the announcement of the...