BREAKING: Meta Lay Offs Over 11,000 Employees
In one of the year’s largest layoffs, Meta Platforms Inc. (META.O) announced that it will eliminate more than 11,000 employees,…
Month: November 2022
FG Exhorts those on Low Incomes to Adopt Cooperative Housing.
The Federal Government has pushed the development of cooperatives to provide housing options for low and medium-income earners as part…
Climate Change: UK Commits £200million to Nigeria and Others.
The African Development Bank’s Climate Action Window will get £200 million in support from the UK, according to James Cleverly,…
As the Cryptocurrency Market Collapses, Binance Intends to Purchase FTX.
To aid with a “liquidity bottleneck” at the rival exchange, cryptocurrency giant Binance reached a non-binding deal on Tuesday to…
Banks, MTN, and Airtel will all Collect VAT on their Goods.
Beginning in January 2023, MTN, Airtel, and all money deposit institutions serve as agents; for the Federal Inland Revenue Service…
NAICOM Develops Strategies for the Insurance Sector’s Expansion.
The National Insurance Commission has reaffirmed its commitment to using a variety of approaches to bring the insurance industry up…
Queues Persist as Petrol Stock Dips by 5.48m litres
According to market statistics issued, the Nigerian National Petroleum Company Limited’s stock of Premium Motor Spirit, often known as gasoline,…
COP27: Nigeria Seeks $400billion for its Energy Transformation Strategy.
The Federal Government is advocating for $400 billion in funds to aid in the implementation of Nigeria’s Energy Transition Plan.…
Food Security is Harmed by Severe Floods in West Africa.
The 50-year-old father of 12 is one of an estimated 4 million individuals in more than a dozen nations in…
Naira is Now One of the World’s Worst-performing Currencies.
The Nigerian naira is technically doing well this year; down just 4% against a strong US dollar and ahead of…
FG Equips 1,859 Nigerians to Expand their Agribusiness.
The National Directorate of Employment (NDE) has taken a strategic step toward ending Nigeria’s unemployment; by training and empowering 1,850…
Reduced Foreign Exchange Transactions to N320 billion in 9months due to Inflation, Dollar Shortages.
Investigations by the Daily Sun show that total international transactions on the platform of the Nigerian Exchange Limited (NGX) fell…
NDLEA Informs public on Introduction of Fentanyl to Nigeria Market.
The National Drug Law Enforcement Agency (NDLEA) has alerted authorities to a drug cartel’s intention to enter the Nigerian market…
Nigeria’s Oil Production Deficit Reaches 184.1 million Barrels.
According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria was only able to drill 284. 70 million…
Jumia CEOs Resign over Company Losses.
Sacha Poignonnec and Jeremy Hodara, the co-founders and co-CEOs of Jumia Technologies, have both resigned from their positions with immediate…
Dangote Cement Begins a Recycling Initiative.
Dangote Cement announced the commencement of its “DangCi rcular” circular economy initiative.The new effort seeks to encourage the recycling and…
As Investment Slows, Tech Employees might Lose their Jobs.
Tech firms around the world are having trouble raising money. According to research, investments in the Nigerian Tech industry decreased…
FG Pledges to Invest $457million in Off-grid Electrification Projects.
The federal government has pledged $392 million and disbursed a total of $64.8 million; for the creation of off-grid electrification…
Nigeria is Driving Infrastructure Investment in Africa to Increase Gas Exports.
In order to increase the export of gas to Europe and other continents, Mallam Mele Kyari, Group Chief Executive Officer…
Oil Theft: Vessel Arrested In Equatorial Guinea Is On Its Way Back To Nigeria, Says Navy
A supertanker detained by Equatorial Guinean authorities for allegedly transporting crude into Nigeria, is the subject of an inquiry, according…
Ghanaian Demonstrators Call for the President to Resign Due to the Economic Crisis.
One of the worst-performing currencies in a region that is feeling the effects of a global economic downturn is Ghana;…
Nigeria FG Prepares Supplemental Budget Due to Depreciation and Rising Inflation.
Due to a further weakening of the naira and soaring inflation, which have rendered the 2023 budget unaffordable, the Federal…
Financial Crimes: Hushpuppi Bags 11years.
Ramon “HUSHPUPPI” Abbas, a well-known Instagram user, was given an 11-year prison term in the US. He was detained in…
In Spite of a Prolonged Recession, the Bank of England Raises Rates by the Highest Since 1989.
On Thursday, the Bank of England increased interest rates to their highest level since 1989; but issued a warning to…
Nigeria’s Power Production Increases in 48 hours and Reaches 4,864MW.
Power generation on the national grid climbed by 834.8 megawatts, reaching a peak of 4,863.7MW.The grid generated 4,028.9MW of off-peak…
Flood: FEC Approves N506billion Contract for East-West Road.
The East-West Road Project Sections 1-4 from Warri to Port Harcourt, Eket, and Oron contract value was N260 billion; with…
Stakeholders want Nigeria to Adopt Ghana’s Port System.
Stakeholders have advocated for Nigeria to adopt Ghana’s Single Window System and Trade-Net, an electronic data exchange network. Additionally, they…
According to Emefiele, the CBN is Creating New Legislation to Address Vulnerabilities to Financial Systems.
According to the Governor of the Central Bank of Nigeria (CBN), threats to the financial service system prompted the development…
OPEC: Half of Africa’s Refining Output will come from Dangote’s 650,000 bpd Facility.
According to the Organization of Petroleum Exporting Countries (OPEC), more than half of Africa’s total extra distillations would be by…
Nigeria Loses 120million Barrels of Petroleum and $12.6billion in Nine Months.
Between January and September of this year, Nigeria lost no less than 120 million barrels of crude oil; due to…