EU Calls for Improved Maritime Security in Nigeria .
The European Union has emphasized the need for improved security measures in the country’s maritime sector through port security in West and Central Africa. The EU said so in Lagos…
40.87% of Uganda Government Debt is Held in Shillings.
The Ministry of Finance reported that the percentage of total debt held in shillings was 40.87 percent, followed by that in dollars at 30.3 percent, in its Medium Term Debt…
The Purchase of EABL Shares by Diageo Offers Brokers a Boost.
UK multinational Diageo’s recently completed additional purchase of 22.7 billion shillings of EABL shares helped generate millions of dollars in transaction fees for stockbrokers representing investors who sold shares in…
Nigeria’s NNPC and Norway’s Golar Sign Contract for Floating LNG Facility.
Nigeria’s state-owned oil company, NNPC Ltd, announced that it had signed a memorandum of understanding with Norwegian business Golar LNG (GLNG.O) to construct a floating liquefied natural gas plant there.…
Exxon to Reopen Operations in Nigeria after Strike Ends.
ExxonMobil (XOM.N) has resumed operations at its Nigerian facility following a labor deal with its internal union on wages and conditions. Exxon had to declare force majeure against oil exploration…
In the Africa Trade Barometer Report, Nigeria Dips to Seventh Position.
Nigeria dropped one spot from sixth to seventh place on the Qualitative Trade Barometer (QTB) rankings, placing eighth out of ten countries on the Africa Trade Barometer (ATB). Following the…
A Tomato Shortage is Imminent as Farmers Lose N1.5 billion to Pest Disease.
Over 500 farmers lost a 300-hectare field worth N1.5 billion to the tomato Ebola known as “Tuta Absoluta,” which is devouring farmland across sections of the country. As a result,…
Malami Rejects Allegations of a $2.4 billion Loss from Crude Oil Sale to China.
Abubakar Malami, the Attorney General of the Federation (AGF) and Minister of Justice, has refuted reports that the alleged unlawful sale of 48 million barrels of crude oil exported to…
FG Prepares a Supplementary Budget while NEC Postpones Subsidy Elimination.
The Federal Government was requested by the National Economic Council in Abuja to postpone the June deadline for the elimination of fuel subsidies while it reviews current plans to provide…
HH Capital, Owned by Elumelu, Ups its Stake in Transcorp to 26%
Tony Elumelu, the chairman of Transcorp Corporation Plc, boosted his ownership in the company through HH Capital Limited, where he serves as a director, by 9,697,189,979 billion shares. It was…
Foreign Investors’ Percentage of NSE Trading Falls to 30%
The Nairobi Securities Exchange (NSE) saw a steady decline in foreign investor participation to a record low of 30.1 percent in March, trading shares worth Sh19.5 billion and forcing the…
Ghana Defaults on Payment of Domestic Debt.
International credit rating agency Fitch Ratings claims that although Ghana has fallen behind in servicing its domestic debt. As the latest setback to the ailing economy, the agency last week…
Nigeria’s Domestic Trade Reached N980 billion in Three Months.
Total domestic transactions on the Nigerian Exchange Limited (NGX) for the first quarter (Q1) of 2023 finished at N986.21 billion notwithstanding uncertainties and other macroeconomic difficulties. The protracted FX shortage…
In 12 years, NPA has Remitted more than N500 billion.
The Nation has learned that over the past 12 years, the Nigerian Ports Authority (NPA) has transferred more than N500 billion to the Federation Account. The money, according to what…
Nigeria Loses Contracts for Gas Export Due to Inadequate Investment.
Nigeria has lost gas export contracts worth billions of dollars due to a lack of investment in the sector. It was discovered that many contracts that should have been signed…
The Terminal Operators Ceases the New Import Vehicle Fee.
The N50,000 per unit surcharge on imported secondhand autos that are hoisted by people has been halted by Ports & Terminal Multipurpose Limited. The terminal had stated in a notice…
SEC Requests Investors to Call Attention to Illegal Fund Managers.
The Securities and Exchange Commission (SEC) has invited members of the public to report any fund manager who is operating without the Commission’s registration in order to ensure that only…
250 Gas Stations are Run by TotalEnergies Using Solar Energy.
According to TotalEnergies, solar energy powers 50% of its more than 500 gas stations spread across the nation. Victor Bandele, Deputy Manager of Deepwater at TotalEnergies E&P, made this announcement…
Nigeria’s Gas Demand is Predicted to Increase by 50%.
The Nigerian Liquefied Natural Gas Limited predicts a 50% rise in gas demand in Nigeria over the next 30 years. Dr. Phillips Mshelbila, the managing director of NLNG Limited, stated…
Operators put 122 billion Naira in Pension Funds into Infrastructure.
As of the end of February 2023, data collected from the National Pension Commission showed that Pension Funds Operators had invested N121.68bn of the Contributory Pension Scheme in infrastructure. Approved…
US-based Low-skilled Nigerians Increase Income by 1,500%.
According to data from the World Bank, low-skilled Nigerians who immigrated to the US had a 1,500% rise in their income. According to the survey, those who migrated from low-income…
Q1 2023: Foreign Investment in the Stock Market Declines to N53.71 billion.
According to a study by the Nigerian Exchange Limited (NGX), foreign investors’ inflow into the stock market of the Nigerian Exchange Limited (NGX) decreased to N53.71 billion in the first…
Annual Malaria Cases in Nigeria Total 55 million, According to FG.
According to the Federal Government, there are an estimated 90,000 malaria-related fatalities and 55 million malaria cases in Nigeria each year. At a news conference held to mark World Malaria…
Ex-CEO of South Africa’s Eskom: Conservative Estimate of $55 million in Monthly Theft.
Andre de Ruyter, the former CEO of South Africa’s state-owned power company Eskom, claimed on that his earlier estimate that the company was losing 1 billion rand ($55 million) each…
Group Requests EFCC, ICPC Investigation into Ajaokuta Steel Plant Concession.
According to Olamilekan Adegbite, the Minister of Mines and Steel Development, 11 foreign businesses expressed interest in acquiring the Ajaokuta steel mill on a concession basis last year. The Economic…
MultiChoice Raises DSTv and GOTv Subscription Rates by 17%.
MultiChoice Nigeria announced an increase of 17% in the cost of its DStv and GOtv packages. The new charges will be effective on May 1, 2023, as stated in a…
NSIB Praises the FG for the Airport Fire Tenders.
The Federal Government’s efforts to improve aviation safety in the nation by purchasing fire tenders for airports have been praised by Engr Akin Olateru, Director-General of the Nigeria Safety Investigation…
FG and US Company Ink MoU on $15 billion Rail Project.
Atlanta Global Resources Inc. of the United States and the Federal Government, acting through the Ministry of the Niger Delta, have agreed to collaborate on the $15 billion rail project…
Banks and Telcos Meet as USSD Debt Reaches N100 billion.
Deposit Money Banks’ total debt to telecom companies for Unstructured Supplementary Service Data has exceeded N100 billion. As a result, banks and telcos are anticipated to have additional discussions in…
FG Removes Power Companies from the National Grid.
The Federal Government said that it had started removing some power companies from the national grid because they were not abiding by the Electricity Market Rules. The government explained that…