NNPC Record Profits and Suppressions on Oil Thieves
The Nigerian National Petroleum Company Limited (NNPCL) announced a remarkable profit of N2.548tn in 2022, marking its “highest profit since…
Month: January 2024
New Leadership at Kaduna Electricity Distribution Plc: Mr Umar Hashidu Takes Helm as CEO
Kaduna Electricity Distribution Plc has welcomed Mr Umar Hashidu as its new Chief Executive Officer (CEO), following the recent resignation…
World Bank Forecasts Nigeria’s Per Capita Income Recovery by 2025
The World Bank’s January 2024 Global Economic Prospects report predicts a return of Nigeria’s per capita income to pre-pandemic levels…
NASENI Signs Multibillion-Dollar MoUs for Technological Advancements
The National Agency for Science and Engineering Infrastructure (NASENI) has inked multibillion-dollar Memoranda of Understanding (MoUs), both new and revived,…
Cash Scarcity Persists: Nigerians Endure High PoS Costs Despite Central Bank Assurances
Nigerian customers continue to face challenges in accessing cash, leading to increased reliance on high-cost PoS services. Despite the Central…
Departure of BPE and FCCPC Heads: Not Dismissals, but Relief from Positions- Presidency
The Presidency has clarified that the departure of the heads of the Bureau of Public Enterprises (BPE) and the Federal…
Ahead of AFCON:Football Fans Express Discontent Over Startimes’ Subscription Price Hike
Football fans are expressing shock and disappointment as StarTimes announces a 15% increase in subscription prices just days before the…
NAFDAC Highlights Strategies for Consumers to Identify Fake Products
In the battle against counterfeit drugs and unwholesome products in the Nigerian market, the National Agency for Food and Drug…
Nigeria Faces 65% Drop in Foreign Investments, Loses Top Spot to Kenya
Foreign investments in Nigerian startups experienced a significant decline, falling by 65.83% year-on-year to $410 million in 2023, down from…
U.S. Stock Futures Retreat, Boeing Faces New Woes, Nvidia Hits Record High
U.S. stock futures are poised for a potential pullback after Monday’s rally, influenced by gains in chip designer Nvidia. However,…
U.S. Dollar Rebounds, Euro Falters on Weak German Data
The U.S. dollar makes a comeback in early European trade, reclaiming ground lost after slipping from its three-week high. The…
Citi Downgrades Netflix, Cites “Lofty Expectations”
Citi strategists downgrade Netflix (NFLX) from Buy to Neutral, leading to a 2% pre-market decline. The rationale behind the downgrade…
Global Markets Hold Gains, Eyes on CPI Data and Rate Cut Expectations
Global markets maintained their gains on Tuesday following a tech-led rally on Wall Street and lower oil prices. U.S. benchmark…
Global X Optimistic about Brazil’s Economic Prospects, Sees Investment Opportunities
Global X, a leading exchange-traded funds (ETF) provider with assets of around $48 billion worldwide, expresses optimism about Brazil’s economic…
European Equities Slip Amid Losses in Tech and Financial Stocks
European equities experienced a decline on Tuesday, primarily driven by losses in technology and financial stocks. Investors are awaiting more…
Dollar Rally Paused as U.S. Inflation Expectations Decline
The U.S. dollar rally faced a pause on Tuesday as a decline in U.S. consumer inflation expectations influenced traders’ bets…
UBA Hits N1 Trillion Market Capitalization
United Bank for Africa (UBA) achieved a significant milestone as its market capitalization surpassed the N1 trillion mark on the…
Equity Market’s Rally Surpasses N3.5 Trillion in Seven-Day Streak
The Nigerian Exchange Limited’s bullish run continued into its seventh day on Monday, yielding a daily gain of N365 billion…
cNGN Delays Launch Pending Regulatory Approval
The Africa Stablecoin Consortium has officially postponed the launch of its cNGN stablecoin, originally scheduled for February 27, 2024. The…
UN Highlights Downward Risks to Nigeria’s Growth in 2024
The United Nations, in its ‘World Economic Situation and Prospects 2024’ report, has revealed that Nigeria faces downward risks to…
Dangote Petroleum Refinery Nears Production with 6th Batch of Crude Oil
The Dangote Petroleum Refinery announced its imminent entry into refined petroleum production as it received the 6th batch of one…
NCC Threatens Call Disruption: Globacom Faces Bar from Making Calls to MTN
The Nigerian Communications Commission (NCC) has issued a public notice indicating its intent to bar Globacom customers from making calls…
NERC Dissolves Kaduna Electricity Distribution Company Board Over N110bn Debt
The Nigerian Electricity Regulatory Commission (NERC) announced the dissolution of the board of directors of Kaduna Electricity Distribution Company on…
Cash Scarcity Causes Sharp Decline in ATM Usage- KPMG
A report titled “In Pursuit of Value,” by KPMG reveals a significant drop in the weekly usage of Automated Teller…
MAN Criticizes EFCC’s Armed Invasion of Dangote Industries
The Manufacturers Association of Nigeria (MAN) has strongly criticized the armed invasion of Dangote Industries Limited by operatives of the…
Manufacturers Hit Hard as Currency Depreciates by 38.9%
In the last three months, the Nigerian naira has lost nearly 39% of its value against the US dollar, dropping…
CBN, Clearing Debt to Boost Naira and Enhance Investor’s Confidence
The Central Bank of Nigeria (CBN) has announced its commitment to settling pending obligations and boosting the functionality of the…
Nigeria Ranks 22nd Globally for Cheapest Gasoline Prices, Despite Oil Production Challenges”
“A recent report titled ‘Global Petrol Prices, Octane-95, January 1, 2024,’ on global gasoline prices reveals that Nigeria ranks 22nd…
Guinness, Nestle and Others Face N472.3 Billion Loss Due to Naira Depreciation
Major consumer goods companies, including Cadbury, Guinness Nigeria, and Nestle, faced a collective loss of N472.3 billion due to naira…
Mixed Start for European Stock Markets as Investors Await Key Inflation Data
European stock markets began the week with mixed trading, reflecting subdued risk appetite among investors. The focus remains on key…