NNPCL to Stop Importing Petroleum in August.
The Nigerian National Petroleum Company (NNPCL) has stated that it would reduce its imports of Premium Motor Spirit, more commonly…
Month: June 2023
The central bank of Nigeria permits the naira to fall 2% to a historic low.
On Wednesday, the naira was permitted to reach a record low on the official market by around 2%, although the…
Marketers Struggle to Get N10 billion for New Purchases of Fuel.
The Nigerian National Petroleum Company Limited has a new financial need of around N10 billion to cover the cost of…
Nigeria Launches MNVO Operations and Issues Licenses to 25 Enterprises.
The Nigerian Communications Commission (NCC) may have authorized 25 businesses to operate as Mobile Virtual Network Operators (MVNO) in Nigeria.…
ART seeks a crude oil swap to release $810 million in blocked funds for airlines.
Dr. Gabriel Olowo, president of the Aviation Roundtable and Safety Initiative, yesterday urged Mr. Godwin Emefiele, governor of the Central…
Marketers Claim that Subsidy Removal has Increased Depot Gasoline Prices.
Since May 29 when subsidies were formally eliminated, gas prices at the pump have climbed by more than 100%. On…
World Bank: Nigeria’s Economic Expansion is too Sluggish to Combat Poverty.
The World Bank issued a warning Monday, stating that Nigeria’s economic expansion is too sluggish to deal with the issue…
Stakeholders Expect an Increase in Call Costs Due to the Telecom Tax.
Muhammadu Buhari, the former president of Nigeria, put a 5% excise levy on telecommunication services into law in spite of…
Reps Call on the Government to Contract Out Refineries to IOCs.
The House of Representatives urged the Federal Government and Nigerian National Petroleum Corporation Limited (NNPCL) yesterday to contract with reputable…
Exposure of Nigerian Banks to $13 billion Eurobond for Ghana Set at $1.7 Billion.
According to a research published by Agusto &Co, Nigerian banks have a significant amount of exposure to the economic and…
Nigeria Air: Representatives Urge that the Main Perpetrators be Charged.
The House of Representatives Committee on Aviation has demanded the detention, criminal prosecution, and punishment of everyone engaged in the…
Kaspersky claims Nigeria has the second-highest number of cyberattacks in Africa.
According to a Kaspersky research, Nigeria experiences the second-highest number of cyberattacks in Africa. Only Kenya, which was rated 35th…
Nigeria’s BUA Receives $500 million to Build New Cement Lines.
The International Finance Corporation (IFC) and other lenders have provided $500 million in finance to Nigeria’s BUA Cement (BUACEMENT.LG) to…
Nigeria’s Labour Congress to Call Off Strike Over Gasoline Subsidies.
A signed resolution of the agreement stated that Nigeria’s largest labor union had decided, following a meeting with the government…
With the acquisition of Africa Matters Limited, J.S. Held expands its strategic advisory for the African market.
The international consulting firm J.S. Held announced the acquisition of Africa Matters Limited, a strategic advising company with an emphasis…
Accra Medical Center and IFC collaborate to increase access to affordable healthcare in Ghana
IFC announced a partnership with Accra Medical Centre Ltd. (AMC) to assist the health service provider expand its operations in…
New Integrated Payment Platform in Africa to Launch by Multichoice, Rapyd, AND General Catalyst.
An integrated payment platform for Africa is being developed through a joint venture announced by MultiChoice Group, Rapyd, and General…
The 89MW Castle Wind Farm’s Financial Close has been Announced by AIIM Consortium.
Through an Eskom wheeling agreement, the AIIM consortium has completed the financial close on the 89 MW Castle Wind Farm…
Pension funds investments in FGN securities rise – Report.
At the conclusion of the first quarter of 2023, the portion of the Pension Fund’s assets held in Federal Government…
Stakeholders Criticize the FG Regarding the $3.2 billion Project to Modernize Customs.
Stakeholders in the nation’s marine sector have criticized the Federal Government over the $3.2 billion Nigeria Customs Service modernization project.…
In Seven Years, Nigerias Debt has Outspaced its Revenue by 13million.
Nigeria’s overall debt in seven years exceeded Federal Government revenue by N13.26 trillion. The conclusions were based on information from…
NBS: Due to Lack of FX, International Trade Falls by 2.6trillion.
The value of international commerce has decreased overall by N2.55 trillion as a result of decreasing exports from Nigeria over…
Restructuring of Ghanas’ Debt: Lowers Bank Earning Due to Increase in Loans.
Although Ghana may now breathe a sigh of relief after the IMF approved its $3 billion loan request, some Nigerian…
NCC: 22.3 million jobs and $13.2 trillion in economic output will be created by 5G technology.
By 2035, the introduction of 5G technological services, according to the Nigerian Communications Commission (NCC), will increase global economic value…
CBN Reports a 27% Decrease in Electricity Export Revenue.
According to The PUNCH, Nigeria’s electricity export fell by $58.1 million in a single year due to grid failure. According…
Price-fixing and petroleum equalization eras are finished, according to NMDPRA.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has declared that the era of price fixing and obtaining foreign…
Market expansion and diversification will lead to growth.
In an effort to increase wealth for investors and residents as well as spur economic progress, the Securities and Exchange…
Nigerian Stocks Exhibit the Region’s Greatest Returns.
The majority of quoted securities in Nigeria outperformed their peers in Sub-Saharan Africa despite the country’s high inflation and negative…
The SEC takes Action to Monitor Capital Market Delisting.
The Securities and Exchange Commission has stated that it is prepared to address and resolve the issues that lead companies…
NNPC will stop using crude swaps and focus on cash payments for imported gasoline.
The Nigerian National Petroleum Company Limited (NNPC) plans to stop using crude oil swaps in favor of cash payments for…