Nigeria Slides to Seventh on the List of OPEC Producers.
According to the organization’s Monthly Oil Market Report for November, which looked at oil production results in October, Nigeria is…
Month: November 2022
As the Ukraine Crisis Diverts Donor Money, the Gates Foundation Commits $7billion for Africa.
As Bill Gates cautioned that the Ukraine crisis was lowering the amount of aid moving to the region. The Bill…
Nuclear Plant Site in Ukraine is Rocked by Explosions.
The Zaporizhzhya Nuclear Power Plant (ZNPP) in Ukraine saw powerful explosions that “abruptly ended a period of relative tranquillity” there.…
Nigeria’s Growth is Projected by the IMF to be 3% in 2022.
Nigeria’s projected real GDP growth for 2022 has been lowered by the International Monetary Fund from 3. 4% to 3%,…
IMF Requests CBN Let Banks Determine Dollar Rates.
In order to increase the inflow of foreign money into the economy, the Central Bank of Nigeria (CBN) has been…
Buhari to Officiate First Oil Drill in Northern Nigeria.
Nigeria’s first crude oil well will be launched and inaugurated by President Muhammadu Buhari. This marks the beginning of the…
US Transfers $20.6m Abacha Loot To Nigeria FG
According to an agreement reached on August 23 between the two governments to repatriate assets the United States forfeited that…
CBN Directs Banking Firms Nationwide to Open on Saturdays
In order to allow bank customers to exchange their old naira notes for new ones, the Central Bank of Nigeria…
UK Efforts to Repair Finances Result in Higher Taxes and Energy Costs.
Jeremy Hunt, the head of the Treasury, pledged to increase funding for essential public services like health and education while…
According to NBS, 133 million Nigerians are Multidimensionally Poor.
According to the National Bureau of Statistics (NBS), 133 million people in Nigeria (63% of the population) are multidimensionally poor.…
The Solar Energy Fund at Bank of Industry is now N6 billion.
The Fund was initially introduce in 2017 as a N1 billion Solar Energy Fund for Micro, Small, and Medium-Sized Businesses…
Africa’s Renewable Energy Receives $20 million from AfDB.
The African Development Bank Group’s Board of Directors approved a $20 million equity investment in Evolution Fund III. A pan-African…
Without Reliable Energy, there can be no Digital Economy, says Sahara Power.
“There can’t be a digital economy without power. According to Adesina, while Nigeria’s population was expanding dramatically, the infrastructure needed…
Naira Redesign might cause Dollar to Drop to N200, According to EFCC chairman
The redesign of naira notes, according to Abdulrasheed Bawa, head of the Economic and Financial Crimes Commission (EFCC), may cause…
Nigeria to begin Rice Exports as RIFAN Signs Agreement with Tiamin Rice Company.
A Memorandum of Understanding (MoU) for the processing and sale of rice both locally and internationally has been signed between…
7000 Businesses and MDAs Owe Nigeria FG N5.2 trillion.
Federal Ministry of Finance’s Phil Abiamuwe-Mowete, Director for Information and Press, described Project Lighthouse as a “data driven artificial intelligence…
FG Borrows N2.94trn from Debt Market in 11 Months.
According to bond auction data issued by the Debt Management Office (DMO), the federal government borrowed N2. 94 trillion through…
Interswitch Defines the Way to a More Stable Payment Ecosystem
The management of Interswitch, Africa’s top integrated payments and digital e-commerce firm, conducted an engagement session for its clients and…
World Bank and CBN Take Steps to Increase MSMEs’ Access to Credit
The Central Bank of Nigeria (CBN) and the International Finance Corporation (IFC), a unit of the World Bank, have established…
Fitch Rules Out Further Downgrade of Nigeria’s Rating in Near Term.
In 2016, Nigerian banks experienced a cutoff in their trade lines with overseas correspondent banks as a result of a…
No Going Back on Phased Petrol Subsidy Removal in 2023
Mrs. Zainab Ahmed, the minister of finance, budget, and national planning, reaffirmed that the federal government will start gradually eliminating…
UBA Restates Commitment To SMEs Development Across Africa.
United Bank for Africa (UBA) Plc. Africa’s Global Bank, has reaffirmed its commitment to the expansion of Small and Medium…
Nigerian Authorities Approve a 1,650 MW Hydropower Project.
One of the largest power projects in Nigeria, a 1,650 megawatt (MW) hydropower facility. With a $3 billion price tag…
Nigeria Loses Millions of Dollars on Abandoned Projects for Brass and Olokola LNG.
The capacity of Nigeria might have increased by 22 million tonnes annually due to two significant LNG projects, Brass LNG…
Nigeria is The Third-largest Crude Oil Output in Africa.
For October 2022, Nigeria has remained the third-largest crude oil output in Africa. Algeria, Angola, and Nigeria are the top…
Inflation Reaches 21.09% as a Result of Currency Shortages and Fuel Price Increases.
According to the National Bureau of Statistics, the rise in gasoline prices, the dearth of foreign currency, and the interruption…
NCC’s 5G Spectrum Auction: Stakeholders Reject Airtels $273 Pricing.
According to Airtel Africa, the Nigerian Communications Commission (NCC) should reserve a spot in the 3. 5GHz spectrum for the…
Dollar Gains Fizzle Out as Traders Reassess Risks from Poland.
The sanctuary In choppy trading, the U.S. Dollar strengthened as markets assessed geopolitical concerns in the wake of the news…
UK Inflation Rises to 11.1%, Highest in 41 Years
The cost of living issue in Britain is becoming worse, and as a result, inflation has accelerated to the highest…
Telcos are Outraged as MTN Seeks a Second 5G License.
Telecommunications companies have expressed their opposition to MTN Nigeria’s request to participate in the upcoming 5G spectrum auction. MTN’s intention…