Rising Costs Impact Nigeria’s Housing Market
Nigeria's housing market has experienced a sharp increase of about 40% in the cost of leases and sales in the…
Yearly Archives
2023
Nigeria Suffers $7 Billion Economic Damage from 2022 Floods
The Nigerian government has reported that the direct economic damage caused by floods in 2022 amounts to $7…
Nigeria Loses N20 Trillion Annually Due to Tax Gaps
Nigeria is reportedly losing an estimated N20 trillion annually due to tax gaps, as revealed by Taiwo Oyedele,…
Nigeria’s Manufacturing Sector Faces Decline in Production Value
The Manufacturers Association of Nigeria (MAN) has reported a decline in the value of manufacturing production due…
Nigerian Banks Deposit N822.34 Billion with Central Bank Amid Excess Liquidity
Nigerian Deposit Money Banks (DMBs) deposited N822.34 billion with the Central Bank of Nigeria (CBN) in July 2023,…
Triodos Funds Support Bridge Taxi Finance to Empower South African Entrepreneurs
Triodos Microfinance Fund and Triodos Fair Share Fund have extended a USD 10 million loan to Bridge Taxi Finance…
Remedial Health Raises $12 Million to Digitize Pharmacy Operations in Nigeria
Nigerian startup Remedial Health has secured $12 million in a Series A equity-debt funding round, co-led by…
Commercial Cold Holdings Expands with Acquisition of Sequence Logistics
Commercial Cold Holdings (CCH), a prominent cold chain logistics platform under the control of African…
Sanlam Private Equity Acquires Majority Stake in Danny’s Auto Body Parts
Sanlam Private Equity (SPE), the private equity branch of Sanlam Investments, has successfully acquired a majority…
Dangote Cement and BUA Cement’s Fuel and Power Costs Surge Amid Rising…
During the first half of 2023, Dangote Cement Plc and BUA Cement Plc collectively spent a substantial amount of…
Apapa and Tincan Island Ports Account for Majority of Nigeria’s Trade in Q1…
Customs licensed agents have explained why the Lagos ports of Apapa and Tincan Island accounted for 89.9% of…
Nigeria-Niger Trade Worth $226.34 Million at Risk Amid Border Closure
Trade worth approximately $226.34 million between Nigeria and Niger is under threat due to the recent closure of…
World Bank, Clean Technology Fund, and Dutch Cooperation to Finance $338.7 Million…
A consortium comprising the World Bank, Clean Technology Fund, and the Dutch Cooperation is set to finance solar…
Completion Date of Nigeria’s 11,000 MW Power Project with Siemens Shifted to…
The timeline for the completion of the 11,000 megawatts (MW) power project, a collaboration between the Federal…
Nigeria Tops World Unemployment List with 33.3%, KPMG Predicts Further Rise
Nigeria has ranked as the country with the highest unemployment rate globally, according to recent statistics…
Seplat Energy Records 10.21% Growth in Gas Revenue for H1 2023
Indigenous energy company, Seplat Energy Plc, reported a 10.21% increase in its gas revenue for the first half of…
Fuel Prices in Tanzania Surge by 17% Amidst Dollar Shortage
Motorists in Tanzania will face a significant increase in fuel prices as the existing shortage of the United…
Dollar Deposits in Kenyan Banks Reach New All-Time High as Shilling Depreciates
The value of dollar deposits in Kenyan commercial banks has reached a record high of Sh1.185 trillion by the end…
SEC and Capital Market Community to Partner with Federal Ministry to Boost…
The Securities and Exchange Commission (SEC) and the Capital Market Community plan to collaborate with the Federal…
Abuja Chamber of Commerce Urges Swift Implementation of N125bn Grants for SMEs
The Abuja Chamber of Commerce and Industry (ACCI) has called on the Federal Government to expedite the…
UK and Nigerian Exchanges Partner to Boost Dual Listings and Sustainable…
The United Kingdom's Foreign, Commonwealth, and Development Office (FCDO) have expressed their commitment to…
USAID Warns of Higher Food Prices in Nigeria and Developing Countries due to…
The United States Agency for International Development (USAID) has issued a warning to Nigeria and other African…
Technology and Transparency Lead to Significant Cost Reduction in Nigerian…
The Convention on Business Integrity (CBi) revealed that shipowners' operational costs in Nigeria have dropped by…
Nigerian Exchange Lists N130bn Sovereign Sukuk: A Boost to Infrastructure…
The Nigerian Exchange Limited (NGX) recently listed the Federal Government's N130bn sovereign Sukuk through the…
Potential Cost Savings and Benefits of Local Refining for Nigeria’s Oil…
Oil marketers in Nigeria have highlighted the potential cost savings and benefits of local refining, stating that…
Eterna Plc Records 21.2% Revenue Growth in H1 2023, but Reports Loss Before Tax
Eterna Plc, in its IFRS Financial Statements for the half-year ended June 30, 2023, reported a revenue growth of…
Bullish Trading Returns to Nigerian Exchange Limited, Investors Gain N41 Billion
After four days of bearish trading, the Nigerian Exchange Limited witnessed a return of bullish trading on…
Local Refining to Save N70 per Litre on Petrol Price, Say Oil Marketers
Oil marketers in Nigeria have stated that local refining of petroleum will reduce petrol prices by at least N70…
Nigerian Government Orders Digital Money Lenders to Prove Compliance or Face…
The Federal Competition and Consumer Protection Commission (FCCPC) has given digital money lenders a five-day…
President Tinubu Approves Over N275 Billion to Revitalize Manufacturing and MSME…
President Bola Tinubu has authorized the release of over N275 billion to revive the manufacturing and Micro,…