Biden to Address Impact of Federal Budget Cuts and Government Shutdown in Economic Speech
U.S. President Joe Biden is set to deliver a major economic speech addressing the consequences of federal budget cuts and…
Year: 2023
IMF Warns of Rising Debt in Low-Income Developing Countries (LIDCs) as Global Debt Trends Continue
The International Monetary Fund (IMF) has highlighted the alarming debt levels in Low-Income Developing Countries (LIDCs), which now represent 88%…
Global Debt Skyrockets to $235 Trillion, With US and China Accounting for Half
The world’s total debt has surged to a staggering $235 trillion, with the United States and China contributing a significant…
Nigeria’s Telecom Sector Relies Heavily on Imports, New Report Reveals
A recent report from the Nigerian Communications Commission (NCC) highlights that a significant 84% of equipment and devices used in…
Private Employers Caution Against Impending Nigerian Labour Congress Strike
Private employers of labour in Nigeria have cautioned against the proposed strike by the Nigerian Labour Congress (NLC), emphasizing that…
42 Companies Awarded Flare Sites in Nigerian Gas Flare Commercialisation Programme
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has awarded flare sites to 42 companies operating in the petroleum sector as…
Naira Dips Further, Closes at 950/$ at Parallel Market
The naira’s value against the dollar took another hit as it closed at 950/$ in the parallel market, further dropping…
Fidelity Bank Seals 100% Acquisition of Union Bank UK in Global Expansion Move
Fidelity Bank Plc has successfully acquired a full stake in Union Bank UK Plc (UBUK), marking a significant step in…
Nigeria’s Oil Production Falls Short of OPEC Quota Despite Rising Prices
Despite a surge in oil prices, Nigeria’s production remains below its OPEC quota. Brent Crude reached $92.28 per barrel due…
Nigerian Stock Market Records N757 Billion Loss Due to FTSE Downgrade
Investors in the Nigerian Exchange Limited (NGX) have faced losses of N757 billion over two days following the downgrade of…
Rising Inflation and Regulatory Costs Drive Up Operating Expenses for Nigerian Banks
Inflation and regulatory charges have led to a 26% surge in total operating expenses for ten major Nigerian banks in…
Rising Inflation and Regulatory Costs Drive Up Operating Expenses for Nigerian Banks
Inflation and regulatory charges have led to a 26% surge in total operating expenses for ten major Nigerian banks in…
Flutterwave to Invest $50 Million in Kenya, Awaits Regulatory Approval for Operations
Nigerian fintech company Flutterwave is preparing a $50 million investment in Kenya as part of its efforts to secure a…
Nigeria Has Over 60 Different Taxes, Many Burden the Poor – Expert
According to Mr. Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Nigeria currently has…
Nigeria’s Pension Assets Surge to N17.01 Trillion, 10.03 Million Subscribers Join Scheme
As of July 2023, Nigeria’s pension assets have risen to N17.01 trillion, showcasing a significant increase from N16.76 trillion in…
Apple Retires Lightning Connector, Embraces USB-C with iPhone 15 Launch
Apple has officially bid farewell to its iconic Lightning connector, which was introduced 11 years ago. The new iPhone 15…
Nigerian Stock Market Loses N757 Billion in Two Days Following FTSE Russell Demotion
Investors on the Nigerian Exchange Limited (NGX) have suffered a loss of N757 billion within two days after the demotion…
Nigeria’s Equities Market Sees Continued Sell-Offs, Investors Book N293 Billion in Losses
Nigeria’s equities market continues to experience a negative trend, with more investors opting to sell their holdings to secure profits…
Nigeria Faces Threat to 2023 Budget as Crude Oil Output Falls by 470,000 Barrels Per Day
The implementation of Nigeria’s 2023 budget, set at N21.8 trillion, is at risk due to a shortfall in crude oil…
United Bank for Africa (UBA) Records Exceptional Half-Year Performance, Profits Soar
United Bank for Africa (UBA) Plc, often referred to as Africa’s Global Bank, has reported remarkable financial results for the…
Google Defends Search Engine Dominance in Monopoly Trial
Google has responded to claims that it holds its position as the world’s largest search engine through illegal practices, asserting…
Ukraine Launches Missiles and Boats in Attack on Russia’s Crimea
Ukraine has reportedly launched ten missiles and three unmanned boats in an attack on Russia’s Black Sea fleet in Crimea.…
Federal Government Launches Inaugural Cargo Movement on Lagos-Ibadan Rail Corridor
After initial concerns regarding the under-utilization of the standard gauge rail line two years post-commissioning, the Federal Government has officially…
Nigeria at G-20: A Glimpse of Hope in International Relations
The G-20 summit held in New Delhi, India, has concluded, marking a significant stride for the Nigerian delegation, headed by…
NNPC CEO and Regulatory Authority CEO Absent from Probe Hearing
The CEO of the Nigeria National Petroleum Company Limited (NNPC), Mele Kyari, and the CEO of the Nigerian Midstream and…
NERC Launches App to Monitor Electricity Distribution Compliance with Tariffs
The Nigeria Electricity Regulatory Commission (NERC) introduced a new app on September 11 to oversee the adherence of Electricity Distribution…
Tinubu’s Economic Reforms Benefit Business Elites, Says The Economist
President Bola Tinubu’s recent economic decisions, including the removal of fuel subsidies and the unification of exchange rates, have been…
Nigeria And UAE: Cautious Optimism As FG Adopts Piecemeal Negotiation Out Of $800m Stuck Funds As UAE Lifts Sanctions
The United Arab Emirates (UAE) has officially lifted the visa ban on Nigerian travelers, ending a nearly year-long restriction along…
Electricity Metered Customer Base Grows by 10.4% in Nigeria
The number of metered electricity customers in Nigeria reached 5.47 million in Q2 2023, indicating a notable growth of 10.4%…
Concerns Mount as Nigeria’s Fiscal Deficit Surges to ₦3.68 Trillion in 2023
A recent report reveals that Nigeria’s fiscal deficit soared to ₦3.68 trillion in the first five months of 2023. This…