The Senate has approved the N876 billion NDDC 2023 budget.
The Niger Delta Development Commission (NDDC) budget for 2023 was approved by the Senate, reaching N876 billion. A total of…
Year: 2023
RT200 Increases Non-Oil Exports.
In an effort to boost non-oil foreign exchange earnings in the country, the Central Bank of Nigeria (CBN) launched the…
USSD debts: Telcos may charge customers for bank transfers.
Banks and telcos have been at odds over N120 billion in USSD debts, which the former has refused to pay…
The weakened naira is increasing Nigeria’s governmental debt, according to the IMF.
According to the International Monetary Fund, weaker currencies in Nigeria and other Sub-Saharan African countries are increasing state indebtedness. Sub-Saharan…
Manufacturers have threatened to go on strike in response to an increase in excise duties.
According to the Manufacturers Association of Nigeria, the recent rise in excise duty on beverage and tobacco goods will cause…
Tinubu is advised by the FG to strengthen anti-corruption authorities.
The Federal Government recommended President-elect Bola Tinubu’s incoming administration to boost anti-corruption and reform-minded institutions in order to successfully contribute…
Policy inconsistency and economic issues influencing food security – FG.
The Federal Government declared that policy inconsistency, insecurity, economic uncertainty, and rising oil costs, among other things, were threatening Nigerian…
Nigeria requires $12 billion to clean up oil spills in Bayelsa.
A new assessment claims that Nigeria needs $12 billion to clean up decades-old oil spills in southern Bayelsa state over…
May 29 – IGP Issues Warning Against Attempt to Cancel Inauguration.
Ahead of the inauguration of the President of the Federal Republic of Nigeria and other elected government officials around the…
The $1.3 billion Zungeru Hydroelectric Plant has been completed and is ready for commissioning.
Abubakar Aliyu, Minister of Power, has announced that the 700 megawatt Zungeru Hydroelectric Power Project has been finished, emphasizing that…
The United States imposes a visa ban on Nigerians who disrupted the 2023 elections.
The United States declared that it had taken efforts to enforce visa bans on individuals who interrupted Nigeria’s recent general…
The Federal Government spends N13 trillion on subsidies and establishes removal standards.
The Federal Government said it was working on a thorough roadmap for Bola Tinubu’s upcoming administration on how to handle…
Nigerian inflation accelerates in April as food prices rise.
The National Bureau of Statistics said that Nigeria’s annual inflation jumped to 22.22% in April, up from 22.04% the previous…
Khulisani Ventures of MIC invests in Quro Medical.
MIC has invested R25 million in the firm, which is revolutionizing the way healthcare is delivered in South Africa, through…
Aveng obtains debt financing for Trident Steel Africa.
Aveng Infrastructure and Resources has finalized the sale of Trident Steel, a steel solutions company, for R1.22 billion. With the…
Three African investment managers have been awarded a Visa and an AWIF grant for entrepreneurship.
The African Women Impact Fund Initiative (AWIF), a collaboration between Standard Bank and the United Nations Economic Commission for Africa…
STOA Set to Buy a Minority Stake in Morocco’s Building Logistics.
STOA, a subsidiary of the French deposit and consignment fund CDC, announced a MAD330 million ($32.9 million) transaction on Tuesday…
Cook-a-thon: Why Guinness World Records hasn’t verified Hilda Baci’s victory
A world culinary record was successfully broken by Nigerian chef Hilda Baci, and the Guinness Book of Records has recognized…
M-Kopa, an African digital credit startup, has raised $255 million in new capital.
M-Kopa, an African finance platform, announced that it had inked a total of $255 million in fresh debt and equity…
The EBRD will invest in RMBV’s USD 300 million North Africa fund.
The European Bank for Reconstruction and Development (EBRD) will invest USD 60 million in RMBV’s third North African fund, according…
BPE Partners and TSFE support the creation of a pharmaceutical distribution platform.
The Sovereign Fund of Egypt (TSFE), in collaboration with leading private equity firm B Investments and its healthcare and pharmaceutical…
Investor protection is the SEC’s top priority in fintech regulation.
The Securities and Exchange Commission (SEC), Nigeria’s leading capital market regulator, has stated that one of its primary goals in…
Ekiti is Classified as Flood-prone by NEMA.
The National Emergency Management Agency has issued a flood warning for Ekiti State, citing higher rainfall in the latter part…
PFAs’ exposure to FGN securities increased 17% to N29.66 trillion as interest rates rose.
The increase in the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN) in an effort to combat…
Investors question projected exit pricing for Union Bank and Oando purchases.
Investors in Nigeria’s capital market are unhappy with the exit prices proposed by Titan Trust Bank Limited and Ocean and…
Contributory Pensions Increased to N590bn in Q1.
According to National Pension Commission data, the assets under the Contributory Pension Scheme increased by N590 billion in the first…
In one week, stock investors lost N136 billion.
At the end of last week’s trading on the Nigerian Exchange Limited, stock investors lost N136 billion.The All-Share Index fell…
States paying outgoing government pensions owe N3 trillion in debt.
Despite increasing debts and unpaid wages for workers, no fewer than 18 departing state governors will retire into lives of…
Oil theft and shutdowns cost Nigeria N313 billion, and operators call for harsh sanctions.
Nigeria’s oil production output has drastically decreased as a result of rising oil thefts and labor unrest, costing the country…
The Nigerian President’s Order has Delayed the Return of the Benin Bronzes.
A presidential decree naming a royal ruler as the owner and custodian of all returned artifacts caused a British university…