Nigeria Approves N2.18tn Supplementary Budget to Address Urgent National…
The Federal Government of Nigeria has greenlit a supplementary budget of N2.18tn for the fiscal year 2023. This…
Monthly Archives
October 2023
Nigeria Records 5.7% Increase in Crude Oil Production for 2023
A review of industry data by THISDAY reveals that Nigeria's crude oil production has shown a 5.7% year-on-year…
Nigeria’s Push for Green Industries in the Face of Energy Transition
As the global call for energy transition gains momentum, the Nigerian federal government has announced its…
TotalEnergies’ $15 Million Investment in Host Communities: A Milestone in…
TotalEnergies, a prominent oil major, has achieved a significant milestone by fully funding its Host Community…
Kenya Addresses Disruption Risk in Gulf Fuel Deal Over Letter of Credit…
Kenya is reassessing the process for banks to confirm letters of credit linked to the government's fuel agreement…
Nigerian Government Plans Tax Penalties and Interest Waivers to Boost Business and…
The Nigerian government is taking steps to waive tax penalties, outstanding penalties, and interest to make it…
Nigerian Oil and Gas Firms’ Debt Soars by Over 40% Due to Naira Devaluation
The debts owed by oil and gas companies to Nigerian commercial banks have surged by over 40% due to the recent…
Delay in Seplat’s ANOH Gas Processing Plant Completion Poses Challenge to…
The completion date for Seplat's ANOH Gas Processing Plant, a critical component of Nigeria's gas development…
Naira Hits All-Time Low of N993.82 per Dollar, Prompting Government Actions
The Nigerian Naira experienced a significant depreciation, reaching an all-time low of N993.82 per dollar at the…
Bloomberg: Nigerian Government Aims to Bring Dollar Rate Down to N750 by December
The Nigerian government, through the Chair of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo…
Navigating the Frontiers of Artificial Intelligence: UK’s AI Safety Summit
The debate surrounding artificial intelligence (AI) remains polarized, with opinions ranging from its potential…
Raxio Data Centres Secures $46 Million in Equity Funding to Fuel Expansion in…
Raxio Data Centres, a leading provider of carrier-neutral data centres in Africa, has secured an additional $46…
EBRD Considers Investment in SPE Capital’s New North Africa Fund
The European Bank for Reconstruction and Development (EBRD) is contemplating an equity investment of USD 40…
Democratic Republic of Congo Sets Ambitious $6.6 Billion Investment for…
The Democratic Republic of Congo (DRC) has unveiled an ambitious plan to invest $6.6 billion over a decade in its…
Gulf Capital Successfully Exits iSON Xperiences, Marking a Milestone in Growth
Gulf Capital, a prominent private equity firm operating in Asia and the GCC, has announced its successful exit…
RMB Corvest and Shalamuka Capital Acquire Stake in VoIP Telecom Provider Switch…
Private equity firm RMB Corvest, in collaboration with BEE investment vehicle Shalamuka Capital, has completed…
Expert Views on MSCI’s Reclassification and Its Impact on Nigeria’s…
MSCI's reclassification of Nigeria from Frontier to Standalone Markets has raised concerns among experts. The…
National Pension Commission Introduces Framework for Additional Benefits Schemes
The National Pension Commission (PenCom) has introduced a framework for the establishment of Additional Benefits…
Nigerians Spend $340.84 Million on Foreign University Applications in H1 2023
Nigerians seeking admission to foreign universities spent approximately $340.84 million on funding their…
MSCI Reclassifies Nigeria from Frontier to Standalone Markets: Implications and…
MSCI, a renowned provider of tools and services for the global investment community, has reclassified Nigeria's…
9PSB Partners with XCHANGEBOX to Expand Agent Banking Solutions
Nigeria's digital payment service bank, 9 Payment Service Bank (9PSB), has entered a strategic partnership with…
U.S. Pledges to Elevate Kenya’s Investment Climate as Model for Africa
The Biden administration has committed to enhancing Kenya's investment environment, aiming to set a standard for…
Nigerian Stock Market Experiences Marginal Dip Following Previous Day’s Gain
The Nigerian stock market saw a slight decline of 0.02 percent, equivalent to N6 billion, on Wednesday, failing…
Nigeria’s Money Supply Grows to N66.4 Trillion Amid Inflation and Naira…
The Central Bank of Nigeria (CBN) reports an increase in Nigeria's total money supply (M2) from N65.15 trillion in…
VP Urges Capital Market Involvement in Bridging Nigeria’s Infrastructure…
The Vice President of Nigeria, Kashim Shettima, has called for active participation of capital market stakeholders…
UBA CEO Oliver Alawuba Honored with Fellowship from CIBN
Oliver Alawuba, the Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA), has been…
Nigeria’s Federal Government to Forgo N12.4 Trillion in Tax Waivers and…
The Federal Government of Nigeria is set to waive tax revenues amounting to N12.4 trillion over the course of four…
Naira Plummets to ₦1,290/$1, Sparks Concerns
The Nigerian Naira has experienced a sharp decline, reaching ₦1,290 to $1 in key markets, including Abuja. This…
Nigerian Government Adjusts Port Terminal Charges and Bulk Cargo Fees
The Nigerian government, through the Nigerian Shippers Council (NSC), has made significant changes to port…
Nigeria Anticipates $10 Billion Inflow to Alleviate Dollar Shortage
The Nigerian government is expecting an inflow of $10 billion in the coming weeks, which is anticipated to…