Petrol Consumption in Nigeria Drops After Subsidy Removal: A Closer Look.
: The Nigerian government recently announced that the volume of Premium Motor Spirit (PMS), commonly known as petrol, consumed in…
Year: 2023
Equity is the first bank to increase loan interest rates to take into account the new CBK rate.
Equity Bank, Kenya’s most profitable bank, has announced an increase in loan prices following the Central Bank of Kenya’s (CBK)…
New Sh70 billion syndicated loan eases Kenya’s currency problems.
Kenya has secured a syndicated loan of Sh70.4 billion ($500 million) from a consortium of international lenders, including Citi Group,…
Naivas founders aim for Sh5.8 billion as foreigners take over
The family of Peter Mukuha Kago, the founder of Naivas, plans to sell an additional 11% stake in the company…
To alleviate hardship, President Tinubu suspends important tax measures.
In an effort to boost manufacturing and improve the ease of doing business, President Bola Ahmed Tinubu of Nigeria has…
We are collaborating with key players to shorten the settlement cycle – NGX
Nigerian Exchange Limited (NGX) has announced its commitment to reducing the settlement cycle from T+3 to T+1 in collaboration with…
Productivity declined in June as a result of the removal of fuel subsidies- PMI Report.
In June 2023, the Nigerian economy experienced a decline in productivity following the removal of fuel subsidies, resulting in heightened…
CBN adds Cameroon, Vietnam, and Croatia to its radar for money laundering.
The Central Bank of Nigeria (CBN) has issued a circular instructing banks and other financial institutions in the country to…
NNPCL intends to build a new $8 billion international gas pipeline.
The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to construct another international gas pipeline valued at approximately $8…
Why DSE Trade Dropped Significantly in the First Half of 2023.
The first half of 2023 saw a decline in trading and liquidity at the Dar es Salaam Stock Exchange (DSE)…
Despite the impact of DDEP, Société Générale Ghana reports GHS 109M in profit in 2022.
Société Générale Ghana Plc has reported a profit after tax of GHS 109 million for the year 2022, representing a…
State Intends to Issue a Water Bond Following a Failed Initial Attempt.
Nearly half of the water supplied in Kenya is unmetered, resulting in a significant loss of revenue for water companies…
The World Bank Endorses Kenya’s New Digital Tariffs.
The World Bank has expressed its support for Kenya’s efforts to expand the reach of taxation in the digital marketplace.…
Safaricom Considers Venture Companies in its Acquisitions Push.
Safaricom, the leading telecommunications company in Kenya, plans to establish two venture capital firms in order to invest in promising…
Expert: Inter-agency Conflict Harming the Cocoa Business.
Ayo Akinola, a Technical Expert to the Federal Ministry of Industry, Trade, and Investment on the National Cocoa Plan, has…
Subsidy: NNPC will Reconcile its N2.1 trillion Deduction with FAAC.
The Nigerian National Petroleum Company (NNPC) Limited has stated that it will reconcile subsidy deductions with the federation, following a…
Telecoms Investments Hit $76bn, 5G Subscriptions Now 60,000 — NCC
Investments in the Nigerian telecommunications sector have reached $75.6 billion as of the end of 2021, according to the Executive…
The FG has Threatened to Penalize Bad Carbon Dealers.
The Federal Government of Nigeria has issued a warning to carbon emission reduction traders who are trading without authorization. Carbon…
Terminal Operator Raises Import Car Tariffs by 36%
Ports & Terminal Multipurpose Limited (PTML) has announced a 36% increase in tariff for imported vehicles, effective from July 1.…
Gulf’s dominance grows as a result of OPEC+ oil quota reform.
The recent reforms at OPEC, outlined by Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, aim to reward countries that…
Naira devaluation: Telcos warn customers to expect price increases.
Telecommunication firms in Nigeria are working with their regulator, the Nigerian Communication Commission (NCC), to review the prices of their…
Currency in Circulation Jumps to N2.53tn – CBN.
According to the Central Bank of Nigeria (CBN), currency in circulation in the country increased by 157.27 percent to N2.53…
Subsidy removal: Poor Nigerians will hit 101 million without palliatives, says World Bank
The World Bank has highlighted Nigeria’s high inflation rate as a significant factor in pushing an estimated four million people…
The World Bank estimates that Nigeria may save $5.1 billion this year through reforms.
The World Bank has stated that Nigeria stands to save up to 3.9 trillion naira (approximately $5.10 billion) this year…
Unification: Producers Bemoan the Lack of FX Availability.
After the Central Bank of Nigeria (CBN) unified the foreign exchange (FX) market, manufacturers in the country are expressing concerns…
Unicem Cement’s Eco-label is Introduced by Lafarge Africa.
Lafarge Africa Plc has launched its Eco Label branding, which supports the company’s commitment to net zero emissions and aims…
Credit to the Private Sector Increased 14.97% to N44.21 trillion in May.
The Central Bank of Nigeria (CBN) has reported a significant 14.9% year-on-year increase in credit to the private sector, reaching…
World Bank Approves A New $500 million Loan for FG.
The World Bank Group has approved a $500 million loan to Nigeria to support women’s empowerment efforts. This funding is…
Shareholders of Union Bank will receive N7 Ser shares from Titan Trust Bank.
Union Bank Plc has announced that minority shareholders will receive N7.00 per scheme share as consideration for the transfer of…
Discos Reverse their Rate Increase Decision as they Wait for NERC Clearance.
Power distribution companies (Discos) in Nigeria have retracted their earlier announcement of a tariff hike scheduled for July 1, 2023,…