Banks’ total assets rose by N8.25tn in 2021 – CBN report
Total assets of Nigerian banks increased by N8.25 trillion to N59.24 trillion at the end of 2021. As of the…
Year: 2022
FG halts N600bn electricity subsidy, confirms power tariff hike
The Nigerian Electricity Regulatory Commission announced on Wednesday that the Federal Government had discontinued power subsidies totaling approximately N600 billion…
Bread, rice record 42%, 48% price hikes in five years –NBS report
The average prices of bread and rice in Nigeria have been recording significant increases in the past five years, according…
Blackout as national grid collapses, minister summons emergency meeting
Power generation on the national grid collapsed to zero megawatts around 10.40am on Monday, leading to widespread blackout across the…
TANZANIA: Kenyan textile firm opens Sh5.7bn plant in Zanzibar – (THE CITIZEN)
Kenya’s firm Basra Textiles Ltd is setting up a Sh5.7 billion ($51.3 million) factory in Zanzibar as it targets to…
FMDQ Exchange admits Coleman’s N6b commercial paper
The Coleman Wires and Cables (Coleman Technical Industries Limited) N6.05 billion Series 3 and 4 Commercial Paper (CP) has been…
NDPHC Seals Power Purchase Deal with APL Electric, Eko Disco
The Niger Delta Power Holding Company (NDPHC) has signed a Power Purchase Agreement (PPA) with APL Electric Company Limited (APLE),…
Access Bank finalises transition to holdco
Access Bank Plc is concluding arrangements for its transition from a commercial banking group to a holding company (holdco). In…
Higher oil prices will increase subsidy cost, fitech tells Nigeria
Fitch Ratings has affirmed Nigeria’s long-term foreign-currency issuer default rating at ‘B’ with a stable outlook. It disclosed this in…
Convention: Micro-zoning Tearing APC Apart Amid Leadership Crisis
The crisis in the ruling All Progressives Congress (APC) over the zoning of national offices, ahead of the party’s national…
UGANDA- Bank interest rates may have to raise to fight inflation, says experts
The bank of Uganda may gradually embark on monetary policy tightening to tame swelling inflation pressures in the economy. Monetary…
Experts advocate databank of indigenous technologies for SDGs
The National Centre for Technology Management has emphasised the need to develop a databank of indigenous technologies that address sustainable…
NAICOM targets N6trn GPI by 2030
Barring unforeseen circumstances of pandemic proportions, the National Insurance Commission (NAICOM) has projected the insurance industry Gross Premium Income (GPI)…
Nearly 4.5 million Nigerians lack food security, says IMF
The International Monetary Fund estimates that the number of Nigerians lacking food security increased from about 2.5 million as of…
Investments in Economic Zones Hits $20bn in 30 Years, Says Minister
The Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo, has said total cumulative investments in the country’s Free Economic…
The Foschini Group acquires Tapestry Home Brands from Actis and Westbrook Investments
Actis, Westbrook Investments and other shareholders agreed to sell their entire interest in Tapestry Home Brands, a South Africa-based home…
Schneider Electric develops micro grid solutions to boost energy transition
As part of efforts to support Nigeria’s commitment towardsnet-zero carbon emission, Schneider Electric has introduced a new range of micro-grid…
Govt Mulls Reinstating Fertilizer Indicative Price
TANZANIA Fertilizer Regulatory Authority (TFRA), has warned traders against hiking fertilizer prices for more than 50 per cent, noting that…
FG, Huawei invest in cyber security, eGovt, 5G for 1000 civil servants
The Federal Government has signed a Memorandum of Understanding with Huawei Technologies to train 1000 civil servants on cyber security…
CBN increases currency in circulation by N418bn over cash transactions
THE currency in circulation rose by N418bn from N2.91tn in December, 2020, to N3.33tn in December, 2021, according to figures…
These are the four largest sectors of the Nigerian economy
The Nigeria economy expanded by 3.4% in real terms in 2021, with an estimated value of N72.39 trillion, increasing from…
Minister: Why Nigeria can’t meet OPEC quota
Minister of State for Petroleum Resources Chief Timipre Sylva has attributed the inability of Nigeria to meet the Organisation of…
LIRS Reaffirms March 31 Deadline for Filing Individual Annual Tax Returns
The LIRS has notified all individual taxpayers, under the PAYE scheme to file their Annual Tax Returns. LIRS Executive Chairman…
5G: Telcos mull phased rollout, fear consumers’ weak purchasing power
TELECOMMUNICATION companies may delay the commercial rollout of fifth-generation technology due to the weak purchasing power of their customers as…
IWD22: Nigerian women “breaking the bias” in the tech industry
Looking back to some 20 years ago, you will probably find only a handful of women leading or sitting at…
FinTechNGR targets startup growth with new platform
The FinTech Association of Nigeria has unveiled The Start-Up Marketplace – a platform designed to provide start-ups with the necessary…
Blending off-spec fuel near completion, says MOMAN
The Major Oil Marketers Association of Nigeria (MOMAN) says its members are close to the completion of blending the off-spec…
Russia-Ukraine: Higher food, fuel prices loom in Nigeria, others, says IMF
The International Monetary Fund has said Nigeria and other African countries are vulnerable to higher food and fuel prices, low…
FG seeks U.S funding for gas supply to Europe amid Russia boycott
The Federal Government on Thursday called on the United States Government to support Nigeria with funds to develop Nigeria’s natural…
Buhari writes Reps, requests amendment of Electoral Act
President Muhammadu Buhari sent a letter to the House of Representatives yesterday, requesting that the Electoral Act, to which he…