Nigeria’s Poor Oil Output will Impact OPEC+ Supplies.
According to a Reuter article, Nigeria and Angola are to blame for the OPEC oil output being one million less…
Year: 2023
A Bitcoin Site with over a million Nigerian Members is Shut Down.
Paxful, a peer-to-peer Bitcoin exchange with 1.5 million customers in Nigeria, has announced that it is ceasing operations.” According to…
Broadband Subscribers Increase Consistently, Reaching 92.6 Million in February 2023.
According to data given by the Nigerian Communications Commission (NCC), Nigeria’s broadband subscribers increased steadily over the course of a…
World Bank: Incoming Govt Faces Weak Growth, Multiple Policy Issues
According to the World Bank, this year will bring policy issues and lackluster economic development for Nigeria’s incoming government. The…
UBA Increases Loan Portfolio by N605 billion.
The United Bank for Africa (UBA) that its loan portfolio increased by N605 billion during the 2022 fiscal year. During…
Subsidy Removal: FG to Disburse $800 million to 50 million Nigerians.
According to Finance Minister Zainab Ahmed, Nigeria has received $800 million from the World Bank to expand its national social…
FEC Approves N392.786bn Contracts for Works Ministry, Customs, and Other.
The Federal Executive Council (FEC) adjourned meeting in Abuja after approving a number of contracts worth a combined N392.786 billion…
Fashola: Second Niger Bridge to be Opened May 15.
According to the Federal Government, the second Niger bridge would be completely accessible to traffic on May 15. This was…
Nigeria FG Implements 180 Business-friendly Reforms.
More than 180 reforms have been implemented by the Presidential Enabling Business Environment Council with the goal of making Nigeria…
African Development Bank Approves $525,000 Grant for Fintech Companies.
A grant of $525,000 has been authorized by the African Development Bank for an online digital hub that will act…
International Breweries Increases Revenue by 20% to N218 Billion in 2022.
For the fiscal year that ended on December 31, 2022, International Breweries Plc saw a double-digit increase in revenue from…
Nigerian Stock Market Draws $19.2 Billion in Investment Over Five Years.
According to a National Bureau of Statistics research, the Nigerian stock market drew a total of $19.2 billion (N8.83 trillion)…
Foreign Capital Imports Fall to $5.32 billion in 2022 from $1.06 billion in Q4.
Capital inflows decreased by 8.53 percent, from $1.15 billion in the previous quarter to $1.06 billion in the fourth quarter…
37 FG Agencies are Charged in a Recent Audit Report.
The Panel on Public Accounts indicted 37 Ministries, Departments, and Agencies for financial procedure violations as the Senate began debating…
A Manufacturer of Solar Vehicles is Opening a Factory in Nigeria.
En1 Technologies has made plans to start making solar-powered automobiles in Nigeria and other African nations. This choice, according to…
Access Holdings Finances a Bank Subsidiary with $300 million.
According to Access Holdings Plc, it has completed a $300 million capital investment into Access Bank Plc, its flagship business.…
Nigeria: Maritime Operators will Receive $700 million for Vessel Acquisition.
The Federal Government has said operators in the maritime sector may get about $700m to acquire new vessels. At least…
Tax Revenue in South Africa in 2022/23 is $94 billion.
Data from the revenue services revealed that South Africa’s tax collection for the fiscal year that ended on March 31…
March Sees Continued Combat Against Inflation by Global entral Banks.
Most developed and emerging market central banks continued to raise interest rates at a strong clip in March, albeit the…
With Oil Supply Growth Lagging Behind Demand, OPEC+ is in Charge.
After the Organization of Petroleum Exporting Countries (OPEC) members and allies, including Russia, agreed additional production cutbacks of around 1.16…
Buharis Administration Recommends Salary Increases after Eliminating Fuel Subsidies.
According to Labour Minister Chris Ngige, the outgoing government in Nigeria has advised the next administration of President-elect Bola Tinubu…
Nigeria Approves a New Chinese Bank for a Railway Project.
Following the withdrawal of another Chinese lender from the Kaduna-to-Kano rail project in 2020, the Nigerian Senate has accepted China…
Gold4oil’s crucial role in lowering gasoline costs: BoG
Steven Opata, the central bank’s head of financial markets, said that the government’s approach had improved competition among dealers of…
Equities Hit High Record of Sh32 billion on the EABL Acquisition.
The East African Breweries Ltd (EABL) extra share acquisition by British multinational Diageo, which was successfully completed for Sh22.7 billion,…
NNPCL Releases 515.99 ml of Petrol Each Week.
The 33 depots evacuated 515.99 million liters of Premium Motor Spirit (PMS) or gasoline between March 25 and March 31.…
The Federal Government Cancels Benue’s N84 billion Debt.
In order to discharge its debts of N84 billion, the Benue State Government said it had engaged into a debt…
NSIA, Beating the Odds With Higher Investments and Better Financial Results
As a means of encouraging Nigerian inventors and technopreneurs to develop solutions that address real-world problems with a worldwide applicability,…
Foreign Reserves Decrease by $1.46 billion in two months – CBN
According to information collected from the Central Bank of Nigeria, between January and March, the nation’s foreign reserves decreased by…
In March, Nigeria earned N1.8 trillion from oil exports.
Nigeria’s earnings from crude oil export rose by N337 billion in March to reach N1.8 trillion. This occurred when the…
As OPEC+ Reduces Output, the Price of Oil Increases.
After the voluntary production reduction by Organization of Petroleum Exporting Countries (OPEC) members and OPEC allies, collectively known as OPEC+,…