90% of Telecoms’ RoW Fees are Reduced by the FCT Minister.
According to Mohammed Bello, Minister of the Federal Capital Territory, the right-of-way fee for telecommunications companies wishing to install broadband…
Month: November 2022
Nigeria: Serap, Others Sue Buhari Government Over Illegal Pipelines, Oil Theft.
The government of President Muhammadu Buhari is being sued by the Socio-Economic Rights and Accountability Project (SERAP) for “failure to…
Banks lend N1.2tn to Construction Firms.
The loans obtained by operators in the country’s construction sector from banks increased from N1. 025tn in January 2022 to…
The Contribution of Telecommunications to Nigeria GDP rises by 10%.
Telecommunications’ contributions to the nation’s real GDP increased 10.52 percent year on year, reaching N7.28 trillion in the first nine…
Nigerian Banks Increase Interest on Existing Loans to Customers By 200bps.
Commercial lenders have raised the interest rates they impose on current contracts by 200 basis points, or 2%, up to…
Nigeria Petroleum Marketers: The NNPC Petrol Price Without Subsidy Is N400/Litre.
It has been learned that, assuming there is no subsidy, N400/litre is the lowest price at which the Nigerian National…
Ivory Coast Completes Second Shipping Container Terminal.
Officials announced that the Ivory Coast has finished building a second container terminal at its primary port in Abidjan, opening…
Nigerian Crude Oil Sales Generate Zero Dollars for the CBN, according to Emefiele
From almost US$3.0 billion per month in 2014 to zero dollars now, Nigeria’s official foreign exchange receipts from crude oil…
Tanzanian and South Korean Companies agree to a Collaboration.
In order to promote partnerships between the two parties, the Tanzania Startup Association (TSA) and the Korean Startup Forum (KSF)…
Floods Cost Farmers around N100 billion, and Expert Forecasts Show a Fall in Exports.
According to managing director of Universal Quest Nigeria, approximately N100 billion was lost by Nigerian farmers in the recent flood…
Only 9% of Kenyans work Full-time, Permanently.
Less than 10% of Kenyan people hold steady full-time work, this highlights the high rates of reliance and poverty in…
Equity Recovers 90pc of Covid Restructured Loans.
In order to demonstrate the sustained recovery of the economy despite additional shocks from high inflation, Equity Bank’s debtors who…
According to NBS, Nigeria’s GDP Declined from 1.78% to 2.25% in Q3 2022.
Nigeria’s Gross Domestic Product (GDP) increased by 2.25 percent (year over year) in real terms in the third quarter of…
Indirect Taxes Worth N2 trillion Paid in Nine Months.
The tax burden on Nigerians grew by N285.13 billion in the first nine months of 2022 despite a recession and…
Emefiele: Nigeria’s Rising Inflation Is Consistent With Global Trend.
The continuous rise in headline inflation from 15.60% in January to 20. 77% in September, according to Godwin Emefiele, Governor…
Chinese and Mota-Engil Enterprises are Shortlisted for a $2.5 billion Bridge Construction in Lagos, Nigeria.
Lagos state in Nigeria has selected a group to build a $2. 5 billion bridge that is anticipated to ease…
LoftyInc’s Latest Fund Closes 40% above Goal.
An African-focused venture capital firm, LoftyInc Capital Management, has announced the closing of the third iteration of its “Afropreneurs Fund…
AIIM Acquires Stake in Two Kenyan Road Network.
Through its pan-African AIIF4 Fund, African Infrastructure Investment Managers, AIIM, the continent’s largest specialized infrastructure private equity fund, has pledged…
Goodwell’s Second uMunthu Fund Launches with €50mln.
Goodwell Investments, a social impact investment company, has established its EUR150 million (US$154 million) uMunthu II fund with the goal…
Ethos Private Equity acquired by New York-based Asset Manager.
A formal agreement has been reached for Ethos Private Equity to be acquired by The Rohatyn Group “TRG”. A specialist…
UK Universities Risk Bankruptcy Barring Foreign Students.
The chair of the government’s Migration Advisory Committee said that UK Prime Minister Rishi Sunak’s probable proposal to crack down…
University Employees in the UK go on Strike.
The largest strike in decades, according to the UK’s University and College Union (UCU), is taking place to raise standards…
FX Crisis: Ghana to use Gold instead of US Dollars to Buy Oil.
Vice-President Mahamudu Bawumia said that Ghana’s government is developing a new strategy to purchase oil goods using gold rather than…
Recession affects Businesses in the Manufacturing, Oil, and Service Sectors.
During the third quarter of 2021 and the same period of 2022, the Nigerian GDP shrank by 1. 78 percent.…
Apple is interested in making a $5.8 billion purchase of Manchester United.
According to speculations, Apple, the biggest tech firm in the world, may be interested in buying the club for £5.…
Oil Companies look into Niger Delta Hydrocarbon Decrease.
In order to conduct research on the decline of hydrocarbons in the Niger Delta, Green Energy International Limited/LekOil Joint Venture…
Farmers in the Anchor Borrowers Program receive N1 trillion from CBN.
By 2024, the Central Bank of Nigeria wants 95% of the population to be financially included. The Federal Government has released five strategic policy studies in an effort to achieve the goal. In the meantime, the Anchor Borrowers Program has seen N1.07 trillion distributed to farmers by the CBN More than 4 million smallholder farmers from all 50 states have received concessionary loan facilities since 2015. Nigeria is at a turning point in terms of financial inclusion, according to the Deputy Governor of the Central Bank of Nigeria, Aisha Ahmad, who oversaw the conference’s planning committee. She noted that the nation has advanced in this area, noting that financial inclusion had increased from 53.7% in 2011 to 64.1% now. Punch
Investors Dump Nigerian Stocks as Inflation Rises.
Recently, the equity market in Nigeria has been at the center of the storm. As the All Share Index fell…
FG Calls for Closer Ties with Canada to Advance both Countries’ Trade Objectives.
According to the Federal Government, Nigeria and Canada must collaborate closely to accomplish a number of shared objectives, including enhancing…
Inflation may be Controlled through Fiscal Measures – CPPE
According to the Centre for Promotion of Private Enterprises (CPPE), the Federal Government can use fiscal changes to lessen economic…