Vantage Capital Buys Promamec Stake in Secondary Deal
A significant minority stake in Promamec will be acquired by Vantage Capital, the largest mezzanine fund manager in Africa, through…
Day: May 9, 2023
Nigerian payment Startup Nomba Revealed it Secured $30 million in Pre-Series B Funding.
Base10 Partners, based in San Francisco (investors in Nubank, Plaid, and Brex), led the investment, which also included Helios Digital…
Reps Query NCC Over Multi-billion Naira USPF Projects.
The Nigerian Communication Commission (NCC) has been questioned by the House of Representatives regarding 1014 projects funded by the Universal…
Transcorp Power Receives a Discharge Certificate from Osinbajo.
According to Vice President Yemi Osinbajo, meeting Nigeria’s growing energy needs would require “serious” private sector investment in the country’s…
Dangote Refinery Set to Launch May 22nd.
There is new hope for Nigeria to increase its capacity for domestically refined fuel by 103.34 million liters per day…
Eight Banks Report Loan Losses at N502 billion.
Eight banks reported N502 billion in net impairment charges in 2022, in an effort to lessen the adverse effects of…
Purchasing Power Falls as FG Slams New Tax Law.
The federal government recently adopted a new tax law that was included in the 2023 Fiscal Policy measures and has…
Nigeria is Ready for Cashless Policy Due to Mobile Transaction Increase.
Economists interpret the recent surge in mobile transaction volumes as a sign that Nigeria is poised for a cashless economy.…
Nigeria, Others Need $7.5 billion to Deepen LPG Usage.
According to the African Refiners and Distributors Association, replacing charcoal with clean cooking gas, also known as liquefied petroleum gas,…
Nigerian Oil Production Falls for First Time in Seven Months.
Nigeria’s crude oil production fell by 38,102 barrels per day in March, a cumulative monthly loss of about 1,181,162 barrels,…