The Federation Accounts Allocation Committee (FAAC) has announced the disbursement of N1.203 trillion in revenue for August 2024 to the Federal Government, State Governments, and Local Government Councils. The announcement was contained in a communiqué after the FAAC’s September 2024 meeting in Abuja. The total distributable revenue of N1.203 trillion comprises several sources, reflecting the government’s diverse revenue streams. This ... Read More »

The presidency has refuted a claim by the Catholic Bishop of Sokoto, Matthew Kukah, that President Bola Tinubu did not sign the peace accord during the 2023 presidential election. Kukah on Sunday, during the Edo election security town hall meeting in Benin, claimed Tinubu snubbed the annual ritual that commits political parties and their candidates to a violent-free election. “What ... Read More »

President Bola Ahmed Tinubu has pledged to tackle climate change and its manifestations differently, emphasising the need for collective action and education. Speaking at the Palace of the Shehu of Borno, Alhaji Abubakar Umar Garba, in Maiduguri on Monday, Tinubu expressed sympathy with the people of Borno State, who have been affected by recent flooding. The President said he had ... Read More »

The Nigeria National Petroleum Company Limited has released another version of the breakdown of the estimated price of petrol bought from the Dangote refinery. Newsthumb earlier reported that in a statement on Monday morning, the NNPC gave a chart breakdown of the refined petrol product it bought from the refinery on Sunday, September 15. The nation’s oil firm stated that ... Read More »

The Nigerian equity market gained N607bn in market capitalisation in the past week, on the back of buying interest in large-cap stocks like Access Corporation and MTN Nigeria.The All-Share Index appreciated by 1.06 per cent to close at 97,456.62, while the market capitalisation rose by 1.10 per cent to N56tn.All other indices closed higher, except for the Growth Index, which ... Read More »

…Vessel also readied for distribution Officials keep mute on price A long queue of petrol tankers yesterday formed along the stretch of the road leading to the Dangote Refinery at Lekki, Lagos as they slowly made their way into the company’s fuel loading gantry ahead of the commencement of the distribution of Premium Motor Spirit (PMS) today. Also on standby ... Read More »

President Bola Ahmed Tinubu has commended the military for its successful operations against security threats in the north-west, resulting in the neutralisation of a wanted bandit leader, Halilu Sububu, and another terrorist, Sani Wala Burki. The President expressed relief and assurance that the security operatives are capable of ensuring peace and security in the nation. In a statement on Saturday ... Read More »

Pricing of the Premium Motor Spirit (PMS) has been a key agenda in the marathon meetings between the managements of the Nigerian National Petroleum Company (NNPCL) and Dangote Petroleum Limited in the last few weeks, Newsthumb learnt. A source of the National Oil Company, who was privy to the meetings, which have been holding in the NNPCL Tower, Abuja, said ... Read More »

President Bola Tinubu has welcomed the National Bureau of Statistics’ new report on the country’s trade balance. The report stated that Nigeria recorded another trade surplus in the second quarter of 2024, hitting N6.95tn, essentially driven by exports to Europe, the United States and Asia. “The current surplus is 6.60 per cent higher than the N6.52tn surplus recorded in the ... Read More »

In a historic meeting, British monarch King Charles III welcomed President Bola Ahmed Tinubu of Nigeria to Buckingham Palace in London on Wednesday, September 11. The Royal Family announced the meeting on its verified X handle, @RoyalFamily, sharing the significant encounter between the two leaders. “Yesterday, The President of the Federal Republic of Nigeria visited His Majesty at Buckingham Palace”, ... Read More »