Nigeria’s Equities Market Records a Decline as Investors Take Profit Amid MPC Meeting Concerns
Nigeria’s equities market witnessed a negative turn as investors opted to take profits, particularly in stocks that have seen significant…
Year: 2023
KPMG Forecasts Nigeria’s Inflation to Hit 30% by December 2023 Amid Reforms
KPMG has projected that Nigeria’s headline inflation could reach 30 percent by December 2023, attributing this anticipated increase to recent…
Nigeria Rekindles Shipping Tax Dispute, Demands Payment by Year-End
Nigeria has revived a dispute with shipping companies, demanding that non-resident shipping lines settle outstanding tax bills, amounting to millions…
Nigeria Withdraws Civil Claims Against Eni and Shell, Yet Investor Exodus Persists
Nigeria has withdrawn civil claims against energy giant Eni SpA and its partner, Shell, concluding a prolonged legal battle in…
Nigeria Urged to Prioritize Low-Hanging Revenue Opportunities Over Debt for Economic Prosperity
Introduction: Nigeria is being advised to prioritize low-hanging revenue opportunities over increasing debt to achieve economic prosperity, according to experts…
Nigeria Drafts Bill to Reform Public Finance Management and Treasury Operations
The Office of the Accountant General of the Federation (OAGF) in Nigeria has announced the drafting of a bill aimed…
OpenAI Rehires Sam Altman as CEO Following Initial Sacking
Introduction:OpenAI, the artificial intelligence research laboratory, has announced an agreement to rehire Sam Altman as CEO, just three days after…
Rethinking Nigeria’s Economic Strategy: Prioritizing Revenue Opportunities Over Debt
Nigeria is contemplating a shift in its economic strategy by prioritizing low-hanging revenue opportunities over increasing debt, according to experts…
U.S. Welcomes Breakthrough Agreement on Release of Hostages in Israel-Hamas Deal
The United States has expressed gratitude for the recent breakthrough agreement between Israel and Hamas, leading to the release of…
Seplat Energy Invests $250 Million in New Gas Processing Plant to Boost Nigeria’s Energy Sector
Nigerian independent energy company, Seplat Energy Plc, has unveiled plans for a substantial $250 million investment in the construction of…
Nigerian Breweries Seeks Shareholder Approval for 80% Stake in Distell Nigeria
Nigerian Breweries (NB) Plc, the largest brewery in Nigeria, has presented a proposal to its shareholders seeking approval for the…
Nigeria and Germany Explore Investment Opportunities in Power and Rail Sectors
President Bola Tinubu recently engaged in discussions with German Federal Chancellor Olaf Scholz during the G20 Compact with Africa Economic…
Allegations of Misappropriation: Nigerian Lottery Trust Fund Faces Scrutiny by House of Representatives Committee
The House of Representatives Committee on Finance is currently conducting a status enquiry into the National Lottery Trust Fund (NLTF)…
Unraveling Turmoil: A Timeline of Sam Altman’s Departure from OpenAI
In a startling sequence of events, Sam Altman, the former president of Y Combinator and CEO of OpenAI, was fired…
Strategic Investment in Consumer Profile Bureau by 1K Africa and Ascension Capital
1K Africa and Ascension Capital have jointly announced a strategic investment in Consumer Profile Bureau (CPB), a prominent South African…
Namibia Infrastructure Development Fund Invests in Lightstruck Holdings to Expand Last-Mile Fibre Networks
The Namibia Infrastructure Development and Investment Fund (NIDIF), managed by Eos Capital, has made a significant minority stake investment in…
Cipla Quality Chemicals Sees Investor Interest Amidst Takeover Approval
The recent approval of the takeover of Cipla Quality Chemicals Ltd by the Common Market for Eastern and Southern Africa…
CSquared Secures $25 Million Investment to Fuel Broadband Infrastructure Expansion in Africa
Pan-African technology company CSquared Link Holdings (Mauritius) Limited has announced a new equity investment of $25 million to accelerate the…
Nigeria Seals $2.2 Billion Solar PV Deal with Sun Africa for Renewable Energy Infrastructure
The Nigerian federal government, through the Ministry of Power, has finalized a $2.2 billion solar PV deal with Sun Africa,…
Escalating Drug Prices in Nigeria Following GlaxoSmithKline’s Exit: A Crisis Unfolding
The departure of GlaxoSmithKline (GSK) from Nigeria has triggered a severe healthcare crisis, leading to a surge in drug prices.…
Nigeria Witnesses Surge in Federation Account Revenue After Fuel Subsidy Removal
Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, has reported a significant increase in the Federation…
Oil Prices Surge Amid Anticipation of OPEC+ Production Cuts
Oil prices experienced a significant surge this week as expectations grew that the Organization of Petroleum Exporting Countries (OPEC) and…
Central Bank of Nigeria Delays Monetary Policy Meeting Amid Forex Backlog
The Central Bank of Nigeria (CBN) has deferred its Monetary Policy Committee (MPC) meeting for the second time since the…
Inflation Crisis in Nigeria Forces Many to Choose Between Food and Medicine
The inflation crisis in Nigeria is exacerbating the challenges faced by individuals with chronic health conditions, particularly those requiring regular…
Nigeria’s Streaming Woes: Slow Adoption Challenges Netflix and Local Platforms
Despite Nigeria being Africa’s most populous country with a significant mobile user base, the adoption of streaming services, including Netflix,…
Naira Appreciates Against Dollar on Parallel Market, Stabilizing at N1,125/$
The Nigerian naira has appreciated against the US dollar, gaining 0.88% to reach N1,125/$ on the parallel market. This follows…
Low IGR: 18 Nigerian States in Dire Financial Straits, Missing Opportunities at Africa Investment Forum
Out of Nigeria’s 36 states, only Lagos was represented at the 2023 Africa Investment Forum (AIF) in Marrakech, Morocco, showcasing…
Nestle Nigeria Reports Loss After Naira Weakness Triggers N127.46 Billion Forex Loss
Nestle Nigeria has reported a loss after tax for the 9-month period ending in 2023 due to a significant foreign…
Nigeria Declares State of Emergency in Health Sector Due to Dilapidated Facilities
Summary:The Federal Government of Nigeria has declared a state of emergency in the country’s health sector, citing the dilapidated state…
Despite Inflation, Real Estate Opportunities Exist in Nigeria: Land-Banking and Smaller Residential Units Attractive
Summary:Amid the impact of inflation on various sectors, including real estate, there are still opportunities for investors in certain areas.…