Nigerian National Petroleum Company Emphasizes Gas Development for Affordable and Clean Energy
The Nigerian National Petroleum Company Limited (NNPCL) plans to prioritize gas development and transportation projects to achieve affordable and clean…
Year: 2023
Nigerian Electricity Consumers to Receive Compensation for Poor Service Delivery
The Nigerian Electricity Regulatory Commission (NERC) has introduced a compensation scheme for electricity consumers who receive poor service from their…
Nigerian Upstream Petroleum Commission Workers Protest Unpaid Emoluments
Workers of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) staged a protest at the commission’s headquarters in Abuja, demanding the…
Shell Nigeria Invites Rig Providers for Deepwater Drilling Project
Shell Nigeria Exploration and Production Company (SNEPCO) has extended an invitation to rig providers for a deepwater mobile drilling project…
NDDC and NLNG Collaborate to Drive Sustainable Development in Niger Delta Region
The Niger Delta Development Commission (NDDC) and the Nigeria Liquefied Natural Gas Company (NLNG) are set to sign a Memorandum…
AMCON Recovers N1.6tn from Bad Debtors in 10 Years: Progress and Challenges in Nigeria’s Financial System
The Asset Management Corporation of Nigeria (AMCON) has revealed that it successfully recovered N1.6tn from bad debtors during its existence…
Ghana $13 billion Eurobond Restructuring to be Concluded by Year End – Government
Ghana’s government aims to reach an agreement with its commercial creditors to restructure Eurobonds totaling $13 billion by the end…
President Tinubu’s Nation Address: Economic Reforms and Commitment to Citizen Welfare
President Bola Ahmed Tinubu addressed the nation, assuring Nigerian workers of an upcoming salary review to improve their welfare amidst…
Central Bank of Nigeria Exempts Microfinance and Primary Mortgage Banks from Cash Withdrawal Limits
The Central Bank of Nigeria (CBN) has issued a circular exempting Primary Mortgage Banks and Microfinance Banks that provide banking…
Nigeria’s External Reserves Drop by $167.2m in July as Naira Weakens
In July, Nigeria’s external reserves experienced a decline of $167.2 million, as the value of the naira depreciated against the…
Nigeria Collects $85.1m from Gas Flare Penalties, Emphasizes Flare Elimination Drive
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that the total gas flare penalties collected from oil and gas companies…
Nigerian Cement Producers Face Challenges Amid Marginally Higher Profits
Three major cement-producing companies in Nigeria, including Dangote Cement, Lafarge Africa, and BUA Cement, struggled to generate a marginal 2.5%…
Nigeria Loses $15 Billion Annually to Port Congestion and Maritime Challenges
Nigeria is reportedly facing significant losses of approximately $15 billion annually due to congestion and various maritime-related issues at the…
Insecurity Threatens Crude Oil Exports, Warn Petroleum Engineers
Petroleum engineers in Nigeria have voiced concerns over the decline in crude oil exports, attributing it to the ongoing security…
Decline in Foreign Investments Impacts Nigeria’s Manufacturing Sector
Amidst an unfavorable business climate in Nigeria, foreign investments in the manufacturing sector saw a sharp decline of 51% in…
M4A (Pty) Ltd, a Leading OEM, Secures Private Equity Partnership for Expansion
M4A (Pty) Ltd, an Original Equipment Manufacturer (OEM) specializing in various products, including passive network infrastructure for fibre networks and…
Kasha Raises $21 Million in Series B Funding to Revolutionize Women’s Health in Africa
As Africa’s youth population grows, entrepreneurs are urged to develop healthcare solutions catering to the continent’s future medical needs. However,…
Save Nigeria Movement Demands N2 Trillion Compensation for Consequences of Naira Redesign Scheme
The Save Nigeria Movement (SNM) has called on the Central Bank of Nigeria (CBN) to compensate Nigerians with the sum…
ECOWAS Responds to Coup in Niger with Sanctions and Demands for Restoration of Constitutional Order
The Economic Community of West African States (ECOWAS) has demanded the full restoration of constitutional order in Niger following the…
Nigerian Stock Market Records Modest Gain as Bullish Trend Slows
The Nigerian Exchange Limited witnessed a slowdown in bullish trading last week, resulting in a modest gain of N8 billion…
Meridiam Completes Acquisition of Rift Valley Energy, Strengthening Clean Energy Portfolio in Tanzania
Infrastructure investor, Meridiam, has successfully concluded the acquisition of Rift Valley Energy Tanzania (RVE), an infrastructure platform with a 30-MW…
Infra Impact’s Mid-Market Infrastructure Fund Exceeds Fundraising Target in South Africa
Infra Impact Investment Managers Successfully Closes Mid-Market Infrastructure Fund Infra Impact’s Mid-Market Infrastructure Fund 1 has achieved a remarkable milestone…
Central Bank of Nigeria Achieves 64.1% Financial Inclusion, Targets 95% by 2024
The Central Bank of Nigeria (CBN) has reported achieving a financial inclusion rate of 64.1%. The CBN aims to raise…
Sukuk Bonds: N8.17bn Rental Payments Made in Q1 2023, Similar to Previous Year
The amount paid on rentals for Sukuk bonds in Q1 2023 was N8.17bn, which remained unchanged from the same period…
Currency in Circulation Surges to N2.6tn in June 2023, CBN Reports
Currency outside banks reached N2.26tn at the end of June 2023, a significant increase of 185.68% from N792.18bn in January…
Petrol Prices Set to Surge Further as International Crude Oil Market Gains
International market data reveals that the price of Brent crude oil has increased by 20%, signaling a potential further rise…
Uniterm Nigeria Limited Seeks Winding Up of Oriental Energy Resources over $1.45 Million Debt
Uniterm Nigeria Limited files a winding-up petition at the Federal High Court in Lagos against Oriental Energy Resources Limited over…
Inadequate Bunkering Activities Cost Nigeria N200bn Monthly, Stakeholders Say
Stakeholders reveal that Nigeria is losing approximately N200bn monthly due to inadequate bunkering activities in the country. The President of…
NECA Warns of 25% Inflation Rate by End of 2023 Amid Rising Concerns
The Nigeria Employers Consultative Association (NECA) issues a warning that inflation could reach 25% by the end of 2023 if…
Ransomware Attacks Increase by 7% in Nigeria in H1 2023, Kaspersky Reports
Kaspersky reports a 7% year-on-year increase in ransomware attacks in Nigeria during the first half of 2023. Ransomware remains a…