Strategic Partnership between Bopa Moruo, RMB Ventures, and Aurex Constructors.
Aurex Constructors, RMB Ventures, and Bopa Moruo form a strategic alliance to build a stronger future. June 2023, Johannesburg, South…
Year: 2023
Report: Product taxes increase by 112% and cost N3 trillion.
Total product taxes in the economy increased by 112.02 percent, from N1.43 trillion in 2019 to N3.03 trillion in 2022,…
Experts: The FG’s FX Unification Policy Will Deepen the Capital Market and Attract FDIs.
The federal government’s FX unification strategy has been praised by experts in the Nigerian financial services industry, who emphasize that…
Binance Operations in Nigeria have been Deemed Illegal by the SEC and the US Commission.
In an effort to make Binance’s operations in Nigeria illegal, the Securities and Exchange Commission (SEC) has joined the United…
NPA Unveils Two Tug Boats for Port Security and Trade Facilitation.
The Nigerian Ports Authority (NPA) has put two newly purchased bollard pull tug boats into service in an effort to…
Savannah Energy Reports a 26% Revenue Increase to $290.4 million.
Savannah unveiled its first renewable energy project, a 250 MW wind farm in Niger called Parc Eolien de la Tarka,…
Banks Continue to Maintain Ratio at Above 30% Despite Liquidity Crunch.
Deposit Money Banks (DMBs) operating in Nigeria reported varied Liquidity Ratio (LR) over the statutory level in the 2022 financial…
Nigeria at Geneva for the International Labor Conference, along with others.
Participants from Nigeria’s three tripartite systems of government, employers’ organization, and organized labor are among the 187 member states taking…
The Telecom Industry makes for N2.508 trillion of Nigeria’s GDP.
In the first quarter of 2023, Nigeria’s telecoms and information services industry contributed a magnificent N2.508 trillion (or 14.13 percent)…
Marketers: 800 gasoline tankers were converted to supply gas.
In order to dispense compressed natural gas to automobiles that run on gas, oil marketers are now changing some of…
NBS: Exports of Manufactured Goods Fall by 40%.
The value of traded manufactured goods fell by a staggering 40% in Q1 2023, according to the National Bureau of…
Nigeria and Other Countries Reportedly Hinder Africa’s GDP Growth by 65%.
According to McKinsey, Nigeria, Egypt, and South Africa were to blame for 65% of the decline in Africa’s GDP. The…
Prof-taking Continues as Stock Market Drops by N37 billion
The Nigerian Exchange Limited (NGX) stock market was dominated by profit-taking investors as capitalization extended losses for a second straight…
United Nigeria Airline Plans to Expand its Fleet and Regional Operations.
The management of United Nigeria Airlines Limited has announced ambitions to grow the size of its fleet and extend service…
In 2023, IATA Forecasts Increased Airline Profitability.
IATA, the International Air Transport Association, has raised expectations for 2023 and voiced optimism for increased airline industry profitability in…
The Success of NAHCO Is Due to Efficient Management
Mr. Indranil Gupta, Group Managing Director of the Nigerian Aviation Handling Company Plc (NAHCO), credits the company’s success and the…
Senior Customs Officers Call on FG to Stop Disputed 3.2 million Modernization Project
Senior members of the Nigeria Customs Service (NCS) have pleaded with President Bola Tinubu to halt the divisive $3.2 billion…
427,962 Nigerians Abroad Receive NIN.
In May 2023, 25.17 percent of Nigerians living abroad have National Identification Numbers. Since the National Identity Management Commission began…
Nigeria’s Oil Output Drops Below 1 million Barrels Per Day – Report.
According to a report from the Organization of the Petroleum Exporting Countries, Nigeria’s crude oil output has fallen below 1…
NNPCL to Stop Importing Petroleum in August.
The Nigerian National Petroleum Company (NNPCL) has stated that it would reduce its imports of Premium Motor Spirit, more commonly…
The central bank of Nigeria permits the naira to fall 2% to a historic low.
On Wednesday, the naira was permitted to reach a record low on the official market by around 2%, although the…
Marketers Struggle to Get N10 billion for New Purchases of Fuel.
The Nigerian National Petroleum Company Limited has a new financial need of around N10 billion to cover the cost of…
Nigeria Launches MNVO Operations and Issues Licenses to 25 Enterprises.
The Nigerian Communications Commission (NCC) may have authorized 25 businesses to operate as Mobile Virtual Network Operators (MVNO) in Nigeria.…
ART seeks a crude oil swap to release $810 million in blocked funds for airlines.
Dr. Gabriel Olowo, president of the Aviation Roundtable and Safety Initiative, yesterday urged Mr. Godwin Emefiele, governor of the Central…
Marketers Claim that Subsidy Removal has Increased Depot Gasoline Prices.
Since May 29 when subsidies were formally eliminated, gas prices at the pump have climbed by more than 100%. On…
World Bank: Nigeria’s Economic Expansion is too Sluggish to Combat Poverty.
The World Bank issued a warning Monday, stating that Nigeria’s economic expansion is too sluggish to deal with the issue…
Stakeholders Expect an Increase in Call Costs Due to the Telecom Tax.
Muhammadu Buhari, the former president of Nigeria, put a 5% excise levy on telecommunication services into law in spite of…
Reps Call on the Government to Contract Out Refineries to IOCs.
The House of Representatives urged the Federal Government and Nigerian National Petroleum Corporation Limited (NNPCL) yesterday to contract with reputable…
Exposure of Nigerian Banks to $13 billion Eurobond for Ghana Set at $1.7 Billion.
According to a research published by Agusto &Co, Nigerian banks have a significant amount of exposure to the economic and…
Nigeria Air: Representatives Urge that the Main Perpetrators be Charged.
The House of Representatives Committee on Aviation has demanded the detention, criminal prosecution, and punishment of everyone engaged in the…