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…
Year: 2022
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…
A Fuel Depot in Southern Russia has Exploded.
According to Russian authorities, a fuel depot exploded in southern Russia near Ukraine. This is a result of a suspected…
In 2022, FG Receives $339m from World Bank.
The Federal Government has received $338. 98 million from the World Bank in 2022, which it plans to distribute to…
BREAKING: Court Issues Bench Warrant On Fleeing British National In Connection With $9.6 Billion P&ID Fraud
On Tuesday, November 15, 2022, Justice D U. Okorowo of the Federal High Court in Abuja issued a bench warrant…
The World Is Inflationary: The Cheap-Stuff Era Is Over
Global inflation is to reach a whopping 9.5%. But so is the rest of the world’s, because American elites designed…
Diasporans Remits $20 Billion to Nigeria
The Federal Government has agreed to launch a Diaspora Mortgage Loan Scheme for Nigerians living in other countries. The scheme,…
Funders are now Interested in ESG, According to KPMG
According to KPMG, capital providers are increasingly eager to examine how their funds are leveraged to create stakeholder value through…
Nigeria will Execute “Vision 2050” to Raise GDP to $33,000.
The Vision 2020 plan, which ran out of steam two years ago, will be replaced, according to the Nigerian government,…
The War in Ukraine is Fuelling a Global Food Crisis.
According to a report by UN organizations, the Russia-Ukraine war has had a negative influence on Zimbabwe’s agriculture industry. Potentially…
Ugandans Are Denied Visas By The UAE
A visa restriction has been imposed on Ugandans and 20 other nations with immediate effect by the United Arab Emirates…
Amazon is Laying Off 10,000 Staffs.
Approximately 10,000 employees in business and technical jobs will be let go by Amazon.com Inc (AMZN. O) starting this week,…
Nigeria’s Inflation Rises to 21.09%
The consumer price index (CPI), which gauges how quickly prices for goods and services fluctuate, increased to 21. 09 percent…
14.2 billion Tons of Limestone are Identified by an Agency.
According to Dr. Abdulrazaq Garba, Director-General of the Nigerian Geological Survey Agency, Nigeria possesses limestone deposits in 14 states totaling…
Four African Countries back Agreement Against Illegal, Unregulated Fishing.
Nigeria, Angola, Eritrea, and Morocco are the four African nations who have vowed to work with the Food and Agriculture…
A Scarcity of Raw Resources Affects Manufacturing Enterprises.
Due to a lack of foreign currency, manufacturers are experiencing severe raw material shortages, which is hurting the sector’s production…
The Assets of Nigerian Banks Increased by N10 trillion to N66 trillion.
The Central Bank of Nigeria’s most recent statistics show that between August 2021 and August 2022. The assets of Nigerian…