Unlocking Over $2 Billion Investments: Lagos CNG Conversion Facility Inaugurated
The newly inaugurated Compressed Natural Gas (CNG) conversion facility in Lagos, spearheaded by the Presidential Compressed Natural Gas Initiative Steering…
Day: November 2, 2023
Naira Gains Ground as Stock Market Hits Historic Highs
Despite recent fluctuations, the Nigerian Naira has made significant gains, settling at N1,170/$1 in the parallel market. This uptick in…
Sluggish Growth in Diaspora Inflows Adds Pressure to Kenya’s Forex Reserves
Diaspora inflows into Kenya have experienced their slowest growth rate in the past 13 years, increasing by just four percent…
British International Investment Commits $26.5 Million to Boost Food Security in Nigeria, Kenya, and Uganda
The British International Investment (BII), the UK’s development finance institution, has pledged a significant investment of $26.5 million to support…
UK and Global Partners Commit $100 Million for AI-Driven Development in Africa
The United Kingdom, in collaboration with esteemed global partners, is spearheading an initiative to accelerate development in some of the…
Controversy Surrounds Allocation of Billions for Presidential Yacht and Luxury Cars in Supplementary Budget
President Bola Tinubu’s submission of a N2.1 trillion supplementary budget to the National Assembly has sparked widespread criticism, particularly due…
President Tinubu Seeks Approval for $7.8 Billion and €100 Million Borrowing Plan for Development Projects
President Bola Tinubu has submitted separate letters to the National Assembly seeking approval for a borrowing plan totaling $7.8 billion…
Business Activity Contracts in Nigeria for the First Time in Seven Months, PMI Shows
According to the latest Purchasing Managers’ Index (PMI) report from Stanbic IBTC Bank, business activity in Nigeria experienced contraction in…
Flights to Dubai Expected to Resume by December as Nigeria Clears Trapped Funds
The Nigerian government has cleared part of the trapped funds for Emirates and Etihad Airlines, paving the way for flights…
Crude Shortages Hamper Nigerian Refineries, Dangote’s Production Targets Missed
Despite hopes for increased domestic refining capacity in Nigeria, including from the much-anticipated Dangote Refinery, the country continues to face…
JP Morgan Forecasts Naira to Trade at N850/$ Before End of 2023
JP Morgan, a prominent US multinational financial services firm, has projected that the Nigerian naira will reach a trading rate…
The Enigmatic Testimony: Sam Bankman-Fried’s Trial Revelations
The courtroom drama surrounding Sam Bankman-Fried, former CEO of the now-bankrupt crypto exchange FTX, has captivated the financial world. As…