After Weeks of Negotiations, EU Nations Agree on a Gas Price Cap.
The energy ministers of the European Union approved a gas price cap. The price ceiling was set at 180 euros per megawatt hour (MWH), and it will take effect on…
China’s Capital has Seen a Gradual Increase in COVID-19 Surge.
The number of fatalities from the most recent COVID-19 outbreak in Beijing, China, has gradually increased as feverish clinic patients and a rise in the funeral industry indicate a spreading…
King Charles Banknotes’ First Images have been made Public.
The Bank of England has unveiled the new design for banknotes that feature the image of King Charles. The only change to the current designs of the £5, £10, £20,…
Oil Increases on Anticipation for China’s Economy.
Oil prices increased as hopes that China would relax its Covid-19 restrictions outweighed worries that a global recession would reduce demand for energy. After Beijing relaxed mobility restrictions, China, the…
U.S. Plans to Invest $170 million in African Exports.
The U.S. Government program, Prosper Africa, which aims to increase bilateral trade and investment between the US and African countries, has announced plans to invest $170 million to increase both…
Banks Record the Serial Numbers Provided to Consumers when Using New Naira Notes.
In order to prevent counterfeiting, the Central Bank of Nigeria (CBN) has ordered banks to record the serial numbers of every new Naira notes that are withdrawn. According to bank…
Ghana Declares a Suspension of its Repayment of its External Debt.
In light of the greatest economic crisis in a century, Ghana’s finance ministry announced that it was halting debt service payments on a number of types of external debt, including…
According to the UK, Nigeria will Lose 25% of its Arable Land.
According to the United Kingdom, the consequences of climate change will prevent Nigerians from cultivating on roughly 25% of their farmlands. Additionally, it was noted that the country’s capacity to…
According to Bank CEO, Digital Banking can Promote Financial Inclusion.
Ademola Adebise, Managing Director/Chief Executive Officer of Wema Bank Plc, has stated that the development of technology and digital banking may significantly contribute to the country’s drive toward financial inclusion.…
Banks Reject 94% of Proposals for Export Funding.
Dr. Bamidele Ayemibo, the lead consultant at 3T Impex Consulting, claims that 94% of bank requests for export financing from Nigerian exporters are denied. Ayemibo delivered the speech at a…
Dangote Reiterates His Dedication to the Industrialization of Africa.
According to Dangote Group, their goal is to lead Africa’s industrialization. Aliyu Da’u Aliyu, a representative of the Dangote Group, said this recently during the 43rd Kano International Trade Fair’s…
Nigeria FG Aims to Increase Rice Exports – Agriculturist
In order to guarantee a surplus of rice production for export, food security, and job creation, the federal government launched the Competitive African Rice Platform. According to the statement, the…
Oil Revenue Increases by N308.6 billion.
Due to coordinated efforts by the Nigerian National Petroleum Company Limited and security agencies to stop oil theft, Nigeria’s crude oil revenues increased by nearly N308 billion in just two…
World Bank: 80 million Nigerians could Lose their Jobs by 2030.
According to the World Bank, if Nigeria doesn’t increase its employment rate, 80 million people of working age will not have a full-time job by 2030. If the country wishes…
Nigeria’s Foreign Portfolio Shows a $2.08 billion Deficit.
In spite of a challenging economic climate marked by currency issues and a decline in investor confidence, Nigeria’s foreign portfolio equity registered a $2. 08 billion deficiencies between 2010 and…
Imports of Raw Materials Decline 22.36% to N1.88 trillion.
Manufacturers imported raw materials totaling N1. 88 billion between January and September 2022, according to the Q1-Q3 foreign trade reports, a 22. 36 percent decrease from the N2.43 billion they…
Dollar Declines as Demand for the Yen Rises.
The yen was in demand as the U.S. Dollar declined in European trade as a result of a report that the Japanese government may be preparing to change the nation’s…
NEMSA Certifies 10,692 Power Projects and Inspects 15,931.
After reviewing a total of 15,931 projects across the nation, the Nigerian Power Management Services Body, a Federal Government safety enforcement agency, has certified 10,692 electricity projects as ready for…
Abuja and Abia are in the Lead as Food Costs Rise.
According to research by The PUNCH, the Federal Capital Territory, Abuja, and Abia State have taken the lead over many other southern states as food prices rise to record levels…
Finance Bill: Dangote, 7UP, and 170 Businesses might Lose N2.4 trillion Tax Waivers.
As the Federal Government plans to phase out some tax waivers from 2022, at least 172 companies may not benefit from the approximately N2. 4tn tax waivers under the Pioneer…
Shell is Commended for Its Local Content Initiative.
The Petroleum Technology Association of Nigeria recently conducted its 2022 annual industry dinner and awards ceremony in Port Harcourt, Rivers State, where Shell Companies in Nigeria were recognized as the…
Nigeria Custom Service Reports N1 billion Seizures.
The Nigeria Customs Service’s Federal Operations Unit Zone A has said that, in advance of the holiday season, it has bolstered operations in all of the South-West states of the…
Savannah and PETRONAS End the Acquisition of ExxonMobil Assets Deal.
The Shares Purchasing Agreement that Savannah Energy Plc had previously agreed into with PETRONAS to purchase ExxonMobil’s upstream and midstream asset portfolio in Chad and Cameroon has been canceled, according…
Nigerias Power Sector Debt to NDPHC is at N100 billion.
According to Chiedu Ogbo, the managing director of NDPHC, the electricity industry owes the company more more N100 billion at this point. The National Integrated Power Projects, which include 10…
Nigeria’s Growth is Projected by the World Bank to be 3.1% in 2022, Down from 3.8%.
The World Bank stated during a briefing in Abuja that it had revised its growth projection for Nigeria for 2022 from 3.8% to 3.1%. The modest economic growth in the…
Nigeria’s Inflation Picks Up in November, Reaching 21.47%.
According to the statistics office, inflation in Nigeria increased for the tenth consecutive month in November, rising to 21. 47% from 21.09% in October. According to the National Bureau of…
Rwanda and Nigeria are the First African Countries to Sign the “Artemis Accords”.
The National Aeronautics and Space Administration (NASA) Artemis Accords have been signed by Nigeria and Rwanda. The documents were signed in Washington, DC, during the US-Africa Space Forum, which was…
Kenya: Fixed Deposit Returns are Wiped Out by Inflation.
The purchasing power of deposits made by Kenyans decreased by an estimated 2.36 percent in September, representing the lowest real interest return on long-term savings since May 2017 as a…
Banks to Commence Issuance of New Naira Notes Today.
The eagerly anticipated, newly redesigned Naira notes from the Central Bank of Nigeria (CBN) will start to circulate among consumers today, 15th Dec 2022. This comes after CBN Governor Godwin…
NNPC Scrambles to End Nigeria Fuel Queues.
According to oil marketers, despite a 17 kobo reduction in the ex-depot price of Premium Motor Spirit, also known as gasoline, lines for the product may persist in many areas.…