Nigerian Inflation Continues in January, Spurred by Food Prices.
According to its statistics office, Nigeria’s inflation resumed in January and reached 21.82% in annual terms. This increase was mostly…
Year: 2023
Members of the US Congress want to Stop the $1 billion Nigerian Weapons Purchase.
Following revelations of an illegal abortion program and the targeted slaughter of infants by the Nigerian military, two members of the U.S. House of Representatives Foreign Affairs Committee urged President Joe Biden to cancel a roughly $1 billion arms deal with Nigeria. The Congress members said, “There are rumors of weaponry captured by terrorists, and the help supplied by Washington so far has done little to settle the 14year struggle between the Nigerian military and Islamist insurgents in the country’s northeast.” Therefore, the legislators stated in the letter, “we believe continuing to move forward with the $1 billion arms transaction would be exceedingly irresponsible and we encourage the Administration to revoke it. After lawmakers on both sides of the aisle halted the agreement…
President Buhari Grants a 60-day Extension to Turn in Outdated Currency.
President Muhammadu Buhari of Nigeria granted the go-ahead for the central bank to add another 60 days to the deadline…
French Agency And BoI Agree To A Funding Of €2.5 Million.
A funding deal for €2.5 million has been agreed between the Bank of Industry and the French Development Agency to…
Wema Bank Supports SMEs In Enugu
According to Wema Bank Plc, it intends to provide small and medium-sized businesses in Enugu with the necessary information and…
NIPC Intends To Draw More International Investment.
According to the Nigerian Investment Promotion Council, initiatives are being made to make Nigeria a popular place to invest. This…
The 2023 NCC Innovative Competition Is Won By A Tech Startup.
Following its selection as the winner of the third annual Nigerian Communications Commission Information and Communications Technology Innovation Competition and…
According To Kyari, The Demand For Energy In Nigeria And Other Countries Would Increase By 35%.
According to Mr. Mele Kolo Kyari, Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, they predicted rise…
Emefiele Explains Redesign As Naira Crisis Intensifies
The Central Bank of Nigeria failed to clarify the legal tender status of the old notes, which made the problem…
Shareholders Approve The N2.06 Billion Royal Exchange Rights Issue
Royal Exchange Plc’s shareholders have given the board of directors permission to seek new equity capital from current shareholders in…
Pinnacle Oil And Gas Writes The DSS, Alleging a Plot To Violate The Peace And Sabotage The Economy.
Pinnacle Oil and Gas Limited has filed a petition with the Director-General of the Department of State Services (DSS), alleging…
After The Supreme Court’s Decision, The FG And CBN Will Take Action.
The Presidency has stated that because the Supreme Court would hear the case ,neither the Federal Government nor the Central…
Congestion As Two Containers Crash From The Mile 12 Bridge
Ikorodu Road is blocked as a result of two containers slipping off the back of a trailer on the Mile…
CBN Maintains a February 10 Deadline For The New Naira.
The deadline of February 10, 2023, wasn’t necessary, according to Godwin Emefiele, Governor of the Central Bank of Nigeria. He…
Rewane: Naira Crisis May Lead to $18 Million GDP Loss Monthly
According to estimates made by Mr. Bismarck Rewane, Chief Executive Officer of Financial Derivatives Company Limited, Nigeria would experience a…
2022 Non-Oil Export Revenue Of $4.8 billion, According To NEPC
The Nigerian Export Promotion Council has pledged to make sure that Nigeria surpasses the $4.82 billion it made from non-oil…
Minister Rejects Request To Create New Agencies
The Federal Government has rejected a proposal from the National Institute of Peace and Strategic Studies to establish new organizations…
Ex-Depot Gasoline Prices Have Increased By 100% In The Last Four Months.
The ex-depot price of Premium Motor Spirit, also known as gasoline, had increased by 110%. According to the information, the…
Vaccines: NAFDAC And Pharmaceutical Companies Have Partnered To Achieve WHO Maturity Level 4.
As part of efforts to achieve World Health Organization (WHO) Maturity Level 4 status and establish Nigeria in the league…
Untapped Global Introduces an Investment Vehicle for Electric Mobility.
A growing group of partners has backed the establishment of Untapped Global’s Climate Action Initiative, an investment firm that specializes…
Mission Produce Announces a Joint Venture with ZZ2 Boerdert and Criterion Africa Partners.
A joint venture with ZZ2 Boerdery, one of South Africa’s leading farming firms, and Criterion Africa Partners, a private equity…
Nearly 800 Billion Euros Are Spent In Europe On The Energy Crisis
Researchers said on Monday that the cost for European nations to protect people and businesses from rising energy costs has…
Governors Make a Move To Delay Supreme Court Reversal Of The Currency Swap Until After The Election.
Ondo, Kano, and Ekiti states have joined the lawsuit that Kaduna, Kogi, and Zamfara states originally filed, and Rivers state…
Kenya: Shaka Kariuki is Named the CAK Chairman by Ruto.
Shaka Kariuki, a businessman, has been named the new chair of the Competition Authority of Kenya (CAK) board by President…
A Majority Share in FSG is Purchased by Africa Lighthouse Capital.
As certain regional competition authorities applauded its proposed purchase of further shares in funeral services provider Funeral Service Group (FSG),…
As The FX Crisis Intensifies, Manufacturers Lament
The Central Bank of Nigeria’s procedures for awarding foreign cash, according to the Manufacturers Association of Nigeria, have put its…
Partech Closes the Largest Africa-focused Fund for the First Time at €245 million.
The largest Africa-focused fund to date, Partech Africa II has reached its first close at €245 million (about $263 million).…
Tinubu To CBN: Permit Old And New Naira Notes To Exist Together Until 2024
Contrary to rumors, Bola Tinubu, the All Progressives Congress (APC) presidential candidate, declared that he supported the CBN’s decision to…
Distribution Of Crude Oil Database From NMDPRA And CBN
The Central Bank of Nigeria, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, and other pertinent organizations are required to…
FG Anticipates Using 82% Of Revenue To Service Debt.
“The World Bank estimates that by 2027, interest payments on Federal Government borrowings from the Central Bank of Nigeria will…