May Oil Production Generates N1.3tn and Reaches 36 million Barrels.
In May 2023, Nigeria’s oil production rose by 6.73 million barrels to 36.7 million barrels, generating a total income of…
Month: June 2023
CBN eliminates the savings and withdrawal caps on domiciliary accounts
The restrictions on domestic accounts have been abolished by the Central Bank of Nigeria. The CBN said in a statement…
Solcon Capital Replaces Convergence Partners Investments as the Brand.
Convergence Partners Investments has changed its name to Solcon Capital as the company intensified efforts to promote platform economics-based global…
More Nigerians will receive 5G service once Airtel rolls out.
Airtel, a telecom company, plans to launch its Fifth-Generation (5G) network services between now and next week, barring any unforeseen…
Electricity Act: Manufacturers Predict a Sharp Decline in the Cost of Alternative Energy.
The new Electricity Act, according to the Manufacturers Association of Nigeria (MAN), will result in a sharp decrease in the…
Nigeria’s Debt Profile Will Reach N81 Trillion After Unification of Fx Rates.
Following the most recent Naira devaluation by the Central Bank of Nigeria (CBN), Nigeria’s debt profile has increased to N81…
Inflation Increases to 22.41%
According to a recent data released by the country’s statistics bureau, Nigeria’s demand-pull inflation has increased once more to a…
Naira Drops to 702/$, With a Potential New FX Supply from CBN.
The Central Bank of Nigeria has permitted a free float of the naira against the dollar and other world currencies,…
Tinubu’s Economic Experts Recommend a Unification of Customs, NIMASA, and FIRS.
President Bola Ahmed Tinubu’s Policy Advisory Council has advised that the country declare a state of emergency in terms of…
Meet the New Members of President Bola Ahmed Tinubus’ Team.
The 9th Senate’s only official responsibility for President Bola Tinubu was to approve his list of Special Advisers. Exactly a…
NMDPRA and Marketers Meet to Avoid Petrol Shortages.
Following complaints from oil marketers about a lack of finances to import products, the Nigerian Midstream and Downstream Petroleum Regulatory…
The UN Plans to Combat Hunger and Malnutrition in Nigeria.
The United Nations World Food Programme launched a $2.56 billion Country Strategic Plan for Nigeria on Wednesday, aiming at addressing…
In Q1 2023, Nigeria Recorded N710 billion in VAT.
According to the National Bureau of Statistics (NBS), the total Value Added Tax (VAT) in Q1 2023 was N709.59 billion.…
Shell Intends to Increase Oil and Gas Production.
Shell Petroleum Development Company would enhance its oil and gas output in Nigeria during the upcoming months. Due to the…
Private Industry, Economists Support CBN as the Naira Drops to 664/$.
To allow for a free float of the local currency against the dollar and other major world currencies, the Central…
CBN Floats Naira at Investors’ Forex Window.
To enable the naira’s free float versus the dollar and other major world currencies, the Central Bank of Nigeria is…
Tinubu Expects the Data Protection Law to Create 500,000 Employment.
On Monday, June 12, 2023, President Bola Tinubu officially signed the Data Protection Bill into law, according to the Nigeria…
According to OPEC, Nigeria’s Economy would Rebound in the Following Months.
Although Nigeria’s economy suffered difficulties in the first half of the year, according to the Organization of the Petroleum Exporting…
According to Customs, Concessionaires Invested $300 million in a Modernization Project.
Col. Hammed Ali (ret. ), Controller General of the Nigeria Customs Service, said concessionaires of the Customs modernization project have…
FG and Oando Establish an MOU to Increase Access to Renewable Energy
In order to accelerate the deployment of sustainable renewable energy access throughout the nation, the Federal Government and Oando Clean…
Ghana’s Annual Inflation Rate Increased to 42.2% in May.
Ghana’s consumer inflation increased marginally from April to May, rising from 41.2% to 42.2% year over year, according to the…
Emefiele’s Suspension: An Increase of N1.2 trillion in Market Capitalization.
On Tuesday, the market capitalization of the Nigerian stock market increased significantly by 4% (N1.22 trillion) to N31.6 trillion. When…
Uber and Bolt drivers issue a seven-day strike warning over low pay.
A planned peace conference between e-hailing companies and the drivers who use the various app-based platforms to operate came to…
IMF Advocates 5 Priority Policy Options For Nigeria Regarding Financial Inclusion.
The largest economy in Africa’s largest country has five top-priority policy options for promoting financial inclusion, according to the International…
Nigeria Increases Oil Production by 15.6% to 1.3 mb/d.
The Organization of Petroleum Exporting Countries, or OPEC, announced yesterday that Nigeria’s oil production, excluding condensate, grew by 15.6% to…
FG Approves Two Oil Export Terminal Licenses with a $11 billion Budget.
The Federal Government granted and signed permits for the construction of two crude oil export terminals, which have the potential…
The Index of Nigerian Banking Equities Rises to a 20-year High.
Following the dismissal of central bank governor Godwin Emefiele last week, who supervised restrictive policies, investors flocked to financial companies…
IOC and NNPCL Report Finding Oil in OML 102.
The joint venture between TotalEnergies EP Nigeria and the Nigerian National Petroleum Company Limited has claimed an oil discovery in…
FG Targets N124 billion from New Import Tax.
A 0.5% import tax on commodities that was proposed in Finance Bill 2023 is expected to bring in around N124.26…
Lafarge Africa Names A New CEO.
Lolu Alade-Akinyemi has been named the new CEO of Lafarge Africa, who will lead the organization’s expansion strategies. The company…