Geregu Power inspires investor confidence, gaining N25 billion on I ts Inaugural Day of Trading.
Despite a persistently gloomy market caused by the run-up to the 2023 general elections and an increase in interest rates;…
Month: October 2022
NPA Transfers N490billion to FG Funds.
According to the Nigerian Ports Authority, between 2011 and 2022, it transferred N490. 229 billion to the federal government’s consolidated…
World Bank: Nigeria’s economy would develop less rapidly in 2023.
According to projections, the Nigerian economy would contract in 2023, falling to 3.2% (from 3. 3%), and remain at this…
Profit for NPF Pension Fund Managers Reaches Five-Year High.
The rise in the return on equity, which is a sign that the Fund is managing investors’ money successfully, has…
The Largest Strike by UK Nurses In More Than A Century Has Begun.
In order to demand a salary increase that keeps pace with skyrocketing inflation, well over 300,000 members of Britain’s largest…
Nigerians Can No Longer Enter Ethiopia With Visas-On-Arrival.
Nigerians will no longer be granted visas on arrival in Ethiopia, according to a government announcement. This was announced in…
Otedola’s Geregu Power Will Feature On The Nigerian Stock Exchange.
Geregu Power Plc will be listed on the Nigerian Exchange Group (NGX)’s Main Board. According to NGX, 2.5bn shares of…
Oil Pipeline Operating Illegally for Nine Years Found by NNPC.
The Nigerian National Petroleum Company Limited (NNPC) claims to have discovered a loading port; and a 4-kilometer (km) illicit pipeline…
In Q2 2022, Ghana’s Economy Expanded By 4.8%.
The second quarter of 2022 saw an uptick in Ghana’s economic growth to 4.8% from the first quarter’s 3.4%. The…
CBN’s Multiple Exchange Rate Deters Foreign Investment In Nigeria, Says FG.
A major barrier to the operation of enterprises is the multiple exchange rate system and restricted access to foreign exchange.…
W’Bank Forecasts Nigerian Debt Service and Revenue At 102%.
The growing debt service-to-revenue ratio in Nigeria, according to the World Bank, is a cause for concern.The bank estimates that…
NSIA Assumes New Leadership.
Aminu Umar-Sadiq is the new Managing Director/Chief Executive Officer (CEO) of the Nigeria Sovereign Investment Authority with the approval of…
US Treasury Says Cryptocurrency Industry Might Endanger Financial Stability.
The US Treasury Dept’s Financial Stability Oversight Council (FSOC) has concerns on cryptocurrencies; and also their ability to affect the…
OPEC+ Plans Significant Production Cutbacks.
Notwithstanding demands from the United States and others to generate more oil, OPEC+ appears prepared to significantly reduce its oil…
NATO Worries About Russian Plans to Test Belgorod Poseidon Nuclear Torpedo.
Initially intended to be a Project 949A Antey submarine, the nuclear submarine BS-329 Belgorod came to live. The longest submarine…
Oil and Gold Suffered Significant Q3 Losses.
After a surprise stronger U.S. Inflation reading for August bolstered predictions for more astronomical Federal Reserve rate rises, oil investors…
NNPC Increases Revenue to N674 Billion in 2021.
The Nigerian National Petroleum Company Limited’s Group Chief Executive Officer, Mele Kyari, said that the NNPC’s corporate profit after tax…
Russian Oil Price Cap Adopted by EU.
According to Politico Europe, which cited diplomatic sources, the EU has tentatively agreed to set a price ceiling on the…
Naira Depreciates to N740 per $1
On the black market, the naira-to-dollar exchange rate has further depreciated to a record low, trading at a minimum of…
Kenya Court Rejects Petition Regarding VAT on Fuel products.
Sen. Okiya Omtatah of Busia filed a case 2018 opposing the introduction of a tax on petroleum products; but the…
Nigerian Banks Experience Earnings Drop Following Latest Policy Rate Increase – S&P.
The Central Bank of Nigeria (CBN) increased its main monetary policy rate by 150 basis points (bps) on September 27.…
Musk Introduces a Humanoid Robot.
Elon Musk, the founder of Tesla and SpaceX, unveiled a prototype robot dubbed “Optimus”; that will likely be produced in…
North Korea Launches A Missile Over Japan.
Tokyo officials allege that North Korea has launched a ballistic missile over Japan for the first time since 2017. The…
Nigeria FG Sanctions Oil and Gas Companies N127bn for Oil Pollution.
In order to penalize oil and gas companies operating in the nation for gas flaring, the Federal Government levied a…
The Top 5 Cryptocurrencies in October 2022.
September saw a 3.12% monthly decline in the market capitalization of cryptocurrencies, falling from $973. 9 billion at the start…
World Bank Approves $750 Million to Enhance Business-Friendly Environment.
The Nigeria State Action on Business Enabling Reforms (SABER) Program-for-Results will be support by a 750 million International Development Association…
Shell Purchases Daystar Power, in Lagos.
Under the condition of regulatory approvals, Daystar Power has declared that it will be bought by Shell; this is to…