Investors’ Groups Criticize the Kogi Government and Claim That Any Action Taken Over Dangote Cement Would be Risky.
The Federal Government of Nigeria has been urged by a group of shareholder associations; to step in immediately and persuade…
Year: 2022
42 Tapping Points Associated With Oil Theft Found In Delta and Bayelsa.
Security personnel and Former leader Government Ekpemupolo, alias Tompolo, have found a total of 58 petroleum bunker tapping locations on…
In September, Canada Added Jobs, and Unemployment Rate Decreased.
According to official figures, the Canadian economy created jobs in September but did nothing to make up for the losses…
Kogi Flooding Leads to Fuel Shortage in Abuja, Says NNPC.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) blames the current fuel shortage in Abuja and other neighboring states…
Russia will Benefit the Most from OPEC+’s Reduction in Oil Production.
Deep oil production cuts unexpectedly agreed to by OPEC+ this week are expected to benefit Russia the most while restricting…
Flood Destroy Homes, Crops, and Optimism in Nigeria’s Food Basket State.
At least 500,000 Nigerians have been impacted by flooding this year in 29 of the country’s 36 states, including Okonkwo.…
Indonesia Is Negotiating With African Nations To Export Its Home-made COVID Vaccine.
After being the first country in Southeast Asia to authorize a domestically created COVID shot, Indonesia is in discussions with…
Nigeria Is Among The African Nations With The Lowest Budgets Per Capita.
Nigeria now has the fourth lowest budget per capita among the 20 largest African economies; behind only the Democratic Republic…
Google Commits Over $200million To Nigeria and Other Africa Countries.
In the past year, Google has invested well over $200 million in Nigeria and other countries in Africa. This was…
Banking Sector Disruption: Fintechs Will Continue To Be Guided By CBN, Says Emefiele
Financial technology (fintech) businesses, according to CBN Governor Godwin Emefiele, are upending the banking industry. However, according to the CBN…
Nigerian Senate Authorizes The $73 per barrel Oil price.
Prior to the President presenting his proposed budget for 2023, the Senate adopted the Fiscal Strategic Paper and the 23-25…
Senate Rejects N1.7trillion Subsidy Recommendation Made by Committee For Budget.
The executive’s proposal to lower the N3.6 trillion budgeted for subsidies in the 2023 budget to N1. 7 trillion was…
Nigeria Now Has 210million Active Mobile Customers.
In August 2022, there were 210 million active mobile customers, up from 208.6million in July, with a teledensity of 109.99%.…
Geregu Power inspires investor confidence, gaining N25 billion on I ts Inaugural Day of Trading.
Despite a persistently gloomy market caused by the run-up to the 2023 general elections and an increase in interest rates;…
NPA Transfers N490billion to FG Funds.
According to the Nigerian Ports Authority, between 2011 and 2022, it transferred N490. 229 billion to the federal government’s consolidated…
World Bank: Nigeria’s economy would develop less rapidly in 2023.
According to projections, the Nigerian economy would contract in 2023, falling to 3.2% (from 3. 3%), and remain at this…
Profit for NPF Pension Fund Managers Reaches Five-Year High.
The rise in the return on equity, which is a sign that the Fund is managing investors’ money successfully, has…
The Largest Strike by UK Nurses In More Than A Century Has Begun.
In order to demand a salary increase that keeps pace with skyrocketing inflation, well over 300,000 members of Britain’s largest…
Nigerians Can No Longer Enter Ethiopia With Visas-On-Arrival.
Nigerians will no longer be granted visas on arrival in Ethiopia, according to a government announcement. This was announced in…
Otedola’s Geregu Power Will Feature On The Nigerian Stock Exchange.
Geregu Power Plc will be listed on the Nigerian Exchange Group (NGX)’s Main Board. According to NGX, 2.5bn shares of…
Oil Pipeline Operating Illegally for Nine Years Found by NNPC.
The Nigerian National Petroleum Company Limited (NNPC) claims to have discovered a loading port; and a 4-kilometer (km) illicit pipeline…
In Q2 2022, Ghana’s Economy Expanded By 4.8%.
The second quarter of 2022 saw an uptick in Ghana’s economic growth to 4.8% from the first quarter’s 3.4%. The…
CBN’s Multiple Exchange Rate Deters Foreign Investment In Nigeria, Says FG.
A major barrier to the operation of enterprises is the multiple exchange rate system and restricted access to foreign exchange.…
W’Bank Forecasts Nigerian Debt Service and Revenue At 102%.
The growing debt service-to-revenue ratio in Nigeria, according to the World Bank, is a cause for concern.The bank estimates that…
NSIA Assumes New Leadership.
Aminu Umar-Sadiq is the new Managing Director/Chief Executive Officer (CEO) of the Nigeria Sovereign Investment Authority with the approval of…
US Treasury Says Cryptocurrency Industry Might Endanger Financial Stability.
The US Treasury Dept’s Financial Stability Oversight Council (FSOC) has concerns on cryptocurrencies; and also their ability to affect the…
OPEC+ Plans Significant Production Cutbacks.
Notwithstanding demands from the United States and others to generate more oil, OPEC+ appears prepared to significantly reduce its oil…
NATO Worries About Russian Plans to Test Belgorod Poseidon Nuclear Torpedo.
Initially intended to be a Project 949A Antey submarine, the nuclear submarine BS-329 Belgorod came to live. The longest submarine…
Oil and Gold Suffered Significant Q3 Losses.
After a surprise stronger U.S. Inflation reading for August bolstered predictions for more astronomical Federal Reserve rate rises, oil investors…
NNPC Increases Revenue to N674 Billion in 2021.
The Nigerian National Petroleum Company Limited’s Group Chief Executive Officer, Mele Kyari, said that the NNPC’s corporate profit after tax…