The Federal Government expects to generate about ₦150 billion annually from its proposed End-of-Life Vehicle (ELV) policy once it becomes operational. Director-General of the National Automotive Design and Development Council (NADDC), Mr. Joseph Osanipin, disclosed this during a media parley in Abuja. He said the projected revenue would come from vehicle parts recycling and the …
The Managing Director of Lagos State Waste Management Authority (LAWMA), Dr. Muyiwa Gbadegesin, revealed that 90 per cent of waste in Lagos is worth about $2.5 billion. He urged residents to sort and hand over waste to recyclers or others who can reuse it. He said, “Waste-to-wealth is key to Lagos’ survival. Visit Olusosun and …
The Federal Airports Authority of Nigeria (FAAN) has announced new measures to ensure smooth passenger movement at airports during the end-of-year travel rush. FAAN’s Director of Public Affairs and Consumer Protection, Mr. Henry Agbebire, said the authority conducted advanced traffic forecasts to prepare for the expected rise in passenger numbers. He explained that FAAN developed …
The Nigerian Consumer Credit Corporation (CREDICORP) has enabled 1,000 women to acquire locally assembled vehicles. The empowerment programme marked the commencement of CREDICORP's nationwide ‘10,000 Women Mobility’ initiative rollout at Eagle Square, Abuja, on Monday, December 22. According to CREDICORP, the scheme represents the largest single-day mobility asset acquisition for women in Nigeria. It is …
Dangote Refinery has urged petrol station owners and dealers nationwide to register for its direct supply scheme and benefit from the current gantry price of ₦699 per litre. It said the offer is available to all petrol station owners and dealers nationwide. The $20 billion refinery had on December 12, announced a ₦129 reduction of …
Uganda’s export earnings soared to $1.5 billion in October, nearly double the same month last year, according to official data. The surge reflects strong receipts from key commodities. Coffee, Uganda’s cornerstone export and top source of foreign exchange, benefited from elevated global prices. As Africa’s leading coffee exporter in 2025, Uganda earned a record $2.4 …
The Democratic Republic of Congo (DRC) and the United States have signed a high-profile agreement on critical minerals. The deal promises economic transformation and secure access to cobalt and other key resources. At the heart of the agreement is the Strategic Mineral Reserve (SMR). It is designed to ensure a stable supply of critical minerals, …
The number of Americans filing new applications for unemployment benefits fell last week, reversing the prior week’s surge. The Labour Department reported 224,000 initial claims for the week ending December 13, a decline of 13,000 from the previous week. Economists had expected 225,000 claims. Claims data have fluctuated in recent weeks due to seasonal adjustments …
In a significant shift for Nigeria's energy market, the price of Premium Motor Spirit (PMS), also known as petrol, has fallen sharply to ₦739 per litre ahead of the Yuletide season. Motorists in Lagos have formed long queues in some MRS filling stations in Lagos as they seek to buy petrol. The pump price drop …
Oil prices climbed more than 2% on Wednesday after U.S. President Donald Trump ordered a full blockade of sanctioned oil tankers operating in and out of Venezuela, triggering fresh concerns over supply disruptions. Brent crude futures rose $1.41, or 2.4%, to $60.33 a barrel by 10:18 GMT. U.S. West Texas Intermediate (WTI) gained $1.42, or …
