AGS NEWS – In the first three months of 2024, 30 state governments in Nigeria spent N986.64 billion on recurrent expenditures, which included refreshments, sitting allowances, travel expenses, and utilities. This information was derived from budget implementation reports on Open … Continue reading 30 governors spent not less than N968bn on refreshments, others in three months – Report
AGS NEWS – President Bola Tinubu has announced an extension of free train rides on the Abuja Rail Mass Transit, also known as the Metro Rail, until the end of the year. Initially, FCT Minister Nyesom Wike had declared a … Continue reading Tinubu extends free rides on Abuja metro for six months
AGS NEWS – Justice Muhammad Nasir Yunusa of the Federal High Court in Kano State handed down convictions and sentences to 17 Bureau de Change operators on Monday. The operators were found guilty of conducting business without the required license, … Continue reading 17 BDC operators sentenced to 6 months imprisonment in Kano
AGS NEWS – The National Film and Video Censors Board (NFVCB) has disclosed that it received and classified a total of 274 movies from the Nigerian film industry in the first quarter of the year. Dr. Shaibu Husseini, the Executive … Continue reading Nollywood filmmakers produce over 250 films in first 3 months of 2024
AGS NEWS – Nigeria’s crude oil production experienced a continuous decline in February and March 2024, resulting in an estimated loss of about N720 billion in revenue. The country’s failure to meet its crude oil production benchmark set in the … Continue reading Nigeria loses N720bn due to reduced crude production in two months
AGS NEWS – The Nigeria Customs Service at Murtala Muhammed Airport Command has announced a significant revenue achievement, totaling N28 billion between January and February. Victor Ogagbor, the command’s Public Relations Officer, disclosed this in a statement on Wednesday. Mohammed … Continue reading MMA customs generates N28 billion revenue in two months
Nigeria witnessed a total foreign exchange inflow of $11.11 billion in the combined months of July and August, as per data sourced from the Central Bank of Nigeria. The August economic report on foreign exchange flows, released by the CBN, … Continue reading CBN reports forex inflow surges to $11 billion over two months
The Nigeria Customs Service’s Lilypond Terminal in Lagos has facilitated the export of 12,438 containers worth $519 million between January and September 2023, according to a statement by the National Public Relations Officer of the service, Abdullahi Maiwada. The Customs … Continue reading Customs facilitates export of 13,000 containers in nine months at terminal
The total amount of currency in circulation within the country has diminished from N2.6 trillion (N2,603,266 million) at the close of June 2023 to N2.59 trillion (N2,595,761 million) by the conclusion of July 2023. Notably, this marks the first decrease … Continue reading Currency in circulation records first drop in five months
In the first quarter of 2023, the Nigerian Electricity Regulation Commission (NERC) unveiled its quarterly report disclosing that the federal government allocated N36 billion to subsidize electricity consumption. This amount equated to a monthly payment of N12 billion, channeled to … Continue reading FG spends N36 billion on electricity subsidy in three months
The Nigerian Senate has decided to initiate a probe into the expenses incurred by the federal government during a 30-month period under the petrol subsidy regime. The resolution was reached during the plenary session on Tuesday, following a motion presented … Continue reading Senate initiates probe into petrol subsidy payments, questions N9.3 trillion expenditure in 30 months
JP Morgan, the American multinational financial services firm, has projected that the Nigerian naira will appreciate and trade at around N600 to the dollar in the upcoming months. This announcement was made in a statement released by the financial institution … Continue reading JP Morgan predicts the naira to reach 600 naira in the coming months
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