Spanish Navy Renews Commitment to Collaborate with Nigerian Navy in Gulf of Guinea
The Spanish Navy has expressed its dedication to working in partnership with the Nigerian Navy to address maritime security challenges…
Month: November 2023
Dubai’s Foreign Direct Investments in Kenya Surge to $253 Million in Five Years
Kenya has seen a substantial increase in foreign direct investments (FDIs) from Dubai, with the total reaching $253 million (Sh38.3…
British International Investment (BII) to Sell 10.13% Stake in I&M Group to East Africa Growth Holding
UK development finance institution British International Investment (BII) has entered into an agreement to sell its 10.13 percent stake in…
Nigeria’s Top Banks Experience Surge in Customer Deposits Amidst Increased Money Supply
Nigeria’s five largest banks have witnessed a notable surge in customer deposits this year, outpacing the growth seen in the…
African Development Bank President Highlights Africa’s Pivotal Role in the Future of the Electric Vehicle Market
Akinwumi Adesina, President of the African Development Bank (AfDB) Group, emphasized the critical role Africa plays in shaping the future…
Nigeria Faces Quality Seed Shortage, Hindering Agricultural Productivity
Despite having 314 registered seed companies, Nigeria, Africa’s most populous country, is grappling with a shortage of quality seeds crucial…
Central Bank of Nigeria Reassures Availability of Cash, Affirms Legal Tender of All Banknotes
The Central Bank of Nigeria (CBN) has issued a statement assuring the public of the continued availability of various denominations…
MTN Expects Nigeria’s Economic Reforms to Yield Growth by Mid-2024
MTN Group Ltd., Africa’s largest wireless company, anticipates that Nigeria’s economic reforms, spearheaded by President Bola Tinubu, will result in…
Africa’s Role in the $57 Trillion Electric Vehicle Market: Opportunities and Potential
Akinwumi Adesina, President of the African Development Bank Group, emphasized Africa’s pivotal position in the burgeoning electric vehicle (EV) market…
Nigeria Considers Using NLNG Dividends to Bolster Economy and Naira Value
The Bola Ahmed Tinubu-led federal government in Nigeria is exploring the possibility of utilizing dividends earned from the Nigeria Liquefied…
01 Advisors Raises $395M for Series B-Stage Startups: A Shift in Venture Focus
01 Advisors, founded by former Twitter CEO Dick Costolo and COO Adam Bain, along with Facebook veteran David Fischer, has…
Emerging Africa Infrastructure Fund Commits $48 Million for West Africa’s First Social Asset-Backed Security
The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, has pledged XOF 30 billion (approx. $48…
Inspired Evolution Fund, FMO, and STOA Acquire 75% Stake in Red Rocket Group
Inspired Evolution’s Evolution III Fund, in collaboration with Dutch Development Bank FMO and STOA Infra and Energy, has successfully completed…
Rivian Shows Promising Q3 Results: Revenue Surges, Losses Narrow
Rivian, the electric vehicle (EV) manufacturer, has released its third-quarter results, showcasing significant progress in production and cost management. The…
Nigeria’s Maritime Security Crucial for Tapping into $2.5 Trillion Blue Economy Opportunities
Bashir Jamoh, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), emphasized the pivotal role of maritime security…
Revitalizing Nigeria’s Oil and Gas Sector: Challenges and Imperatives
The Nigerian government is pinning hopes on the oil and gas sector to stabilize the devalued naira, but the industry…
Total Energies’ Dividends Surge as Earnings and Cash Flow Strengthen
Total Energies Plc, a downstream firm, has demonstrated a robust dividend payout trend since 2006, with a consistent increase in…
Revitalizing Nigeria’s Oil and Gas Sector: Challenges and Imperatives
The Nigerian government is pinning hopes on the oil and gas sector to stabilize the devalued naira, but the industry…
Nigeria’s High Drug Import Tariffs: A Barrier to Essential Medicines for Non-Communicable Diseases
Steep tariffs on imported drugs in Nigeria are driving up prices, making essential medicines for non-communicable diseases unaffordable for many.…
African Startup Funding Sees Decline in October, Nigeria Lags Behind Peers
Funding activity for startups in Africa, particularly Nigeria, witnessed a decline in October. While there was a modest month-on-month increase…
Atedo Peterside Criticizes Nigerian Government’s Lavish Spending Amid Economic Crisis
Atedo Peterside, in an exclusive interview with BusinessDay, has voiced his criticism of the Nigerian government’s extravagant spending habits, particularly…
MeCure Industries Set to List 4 Billion Shares on NGX, Boosting Market Capitalization by N11.84 Billion
Leading pharmaceuticals and nutraceuticals manufacturing company, MeCure Industries Limited, is gearing up for a significant listing on the Nigerian Exchange…
Berger Paints Nigeria PLC Demonstrates Resilience Amid Challenges, Promises Stronger Engagement with Capital Market Community
Berger Paints Nigeria PLC (BPN) Plc, a prominent manufacturer of paints and allied products, has reassured the capital market community…
Nigeria’s Equities Market Commences the Week on a Positive Note, Gaining N155 Billion
On Monday, November 6, Nigeria’s equities market started the week on a positive trajectory, surging by 0.40 percent. This upbeat…
Dangote Cement Offers Series 10 and 11 of Commercial Papers in N300bn Issuance Programme
Dangote Cement, a prominent Sub-Saharan Africa cement producer, has launched series 10 and 11 of its Commercial Papers (CP) as…
Novatek Dismisses US Sanctions on Arctic LNG 2, Calls it a Bid to Inflate Gas Prices
Russian gas giant Novatek has brushed aside recent US sanctions against its Arctic LNG 2 project, characterizing them as a…
Peter Obi Expresses Disappointment in Supreme Court’s Ruling on Presidential Election
Peter Obi, the presidential candidate of the Labour Party (LP) in the 2023 election, has voiced his disappointment with the…
Mobile Money Agents Surge in Nigeria, Boosting Financial Inclusion
A recent report by the International Monetary Fund (IMF) reveals a substantial increase in registered mobile money agent outlets in…
Nigeria’s Federal Government Borrowing from Central Bank Hits ₦4.36 Trillion
Data shows that Nigeria’s federal government borrowed ₦4.36 trillion from the Central Bank of Nigeria (CBN) as of June, a…
Naira Loses 4.24% Against the Dollar Due to Declining Dollar Supply
The Nigerian Naira has experienced a 4.24% loss in value against the US Dollar at the official market due to…