investment Government Invests N110 Billion in Young Entrepreneurs May 24, 2024 Ekemini Uba The Nigerian government has announced a significant investment in young entrepreneurs. The Federal Executive Council (FEC) approved N110 billion allocated as capital to startups and early-growth businesses targeting the youth…
Business Fintech World Nvidia Co-Founder Surpasses Walmart Waltons in Wealth May 24, 2024 Ekemini Uba Jensen Huang, co-founder of Nvidia, has become a symbol of the booming tech industry’s growing influence. Thanks to Nvidia’s strong performance and a surge in stock price, Huang’s net worth…
Finance Local AfDB Pours $1.44 Billion into Nigeria’s Infrastructure Development May 24, 2024 Ekemini Uba The African Development Bank (AfDB) is stepping up its support for Nigeria’s infrastructure needs with a significant investment of $1.44 billion. This announcement was made during the Nasarawa Investment Summit…
Local Social economic problems may push 51.6% males to migrate — NBS survey May 24, 2024 Ekemini Uba A new report by the National Bureau of Statistics (NBS) paints a concerning picture of potential migration trends in Nigeria. The survey, which covered ten states across the country, found…
Business Commodities Local Prices of basic food items rise 140% — NBS May 24, 2024 Ekemini Uba Nigerians are facing a significant rise in food prices, according to the latest report by the National Bureau of Statistics (NBS). The Selected Food Price Watch for April 2024 shows…
investment Local Dangote Calls for More Investment in Africa’s Industries, Not Just Resources May 24, 2024 Ekemini Uba Aliko Dangote, president of Dangote Industries Limited, is urging increased investment in African industries. Speaking at the Africa CEO Forum in Kigali, Rwanda, Dangote argued that Africa’s future lies in…
Commodities Local Kerosene Prices Jump to N1,439.64/ltr: North Central Hit Hardest May 24, 2024 Ekemini Uba The cost of kerosene, a vital fuel for many Nigerian households, has risen significantly. According to the National Bureau of Statistics (NBS), the average price per liter of kerosene increased…
Business Local Manufacturer’s Confidence on the Rise in Nigeria May 24, 2024 Ekemini Uba Nigeria’s manufacturing sector is showing signs of optimism for the first time in nearly two years. A survey by the Manufacturers Association of Nigeria (MAN) revealed a rise in their…
Investing Local Ajaokuta steel revival attracts $10 billion investment, says Minister Audu May 24, 2024 Ekemini Uba There’s good news for Nigeria’s steel industry! The government has reportedly secured potential investments totaling $10 billion to revitalize the Ajaokuta Steel Complex and National Iron Ore Mining Company (NIOMCO).…
Market World Google Eyes HubSpot Acquisition to Challenge Microsoft in Cloud Software May 23, 2024 Ekemini Uba Google’s parent company, Alphabet, is reportedly considering acquiring HubSpot, a marketing software company valued at $31 billion. This move would significantly boost Google’s ability to compete with Microsoft in the…
Business World Boeing faces ‘long road’ on safety issues, US FAA says May 23, 2024 Ekemini Uba The head of the Federal Aviation Administration (FAA) has cast doubt on Boeing’s ability to quickly resolve safety concerns. This comes as Boeing prepares to submit a plan addressing these…
Business BHP Determined to Seal Anglo American Deal Despite Concerns May 23, 2024 Ekemini Uba BHP, the world’s largest mining company, remains committed to its proposed takeover of Anglo American. Despite concerns raised by Anglo American regarding execution risks, BHP is focusing on addressing them…
Business Local Tier-1 Nigerian banks earn N392 billion from electronic business May 23, 2024 Ekemini Uba Nigeria’s top tier-1 banks are reaping significant rewards from the growing popularity of electronic transactions. These banks, including UBA, Access Holdings, FBN Holdings, GTCO Holdings, and Zenith Bank, collectively raked…
Business Local Market International Breweries Gets SEC Nod for N588 Billion Rights Issue to Ease Debt Burden May 23, 2024 Ekemini Uba International Breweries has secured approval from the Nigerian Securities Exchange Commission (SEC) to proceed with its planned rights issue. This fundraising effort aims to raise N588.3 billion to address the…
Business Local Nigerian businesses need single-digit interest rate to grow economy – CPPE May 23, 2024 Ekemini Uba Nigeria’s central bank (CBN) has raised interest rates for the third time in 2024, in a bid to control high inflation currently at 33.69%. While this hawkish policy aims to…
Business World Techstars CEO Maëlle Gavet Steps Down Due to Health Reasons May 23, 2024 Ekemini Uba Techstars CEO Maëlle Gavet announced her resignation from the company, effective at the end of May, citing health concerns. Gavet’s tenure, which began in 2021, was marked by significant challenges.…
Business Local BoI Disburses N496bn To MSMEs, Creates 2m Jobs May 23, 2024 Ekemini Uba Nigeria’s Bank of Industry (BoI) defied economic downturn by disbursing N496 billion to bolster Micro, Small and Medium Enterprises (MSMEs). This impressive contribution resulted in the creation of an estimated…
Banking Local Jaiz Bank Posts N11bn Profit Before Tax May 23, 2024 Ekemini Uba Jaiz Bank Plc announced impressive financial results for 2023 and the first quarter of 2024. Their profit before tax reached N11.2 billion in 2023, a significant jump from N6.9 billion…
Business Local Azura Power Launches 20kW Solar System To Commemorate Children’s Day May 23, 2024 Ekemini Uba Azura Power West Africa is bringing the light of education to the Knosk Charity School in Kuje with a 20 kW solar power system donation. The official unveiling will take…
Business Local AIMAN Seeks Review Of 50% IGR Deduction From Aviation Agencies May 23, 2024 Ekemini Uba The Aeronautical Information Management Association of Nigeria (AIMAN) is lobbying for the Nigerian Airspace Management Agency (NAMA) to be exempt from a federal government policy that automatically deducts 50% of…
Business World Turkish Airlines sacks 7 Nigerian staff over $600,000 ticket racketeering May 23, 2024 Ekemini Uba Turkish Airlines fired seven Nigerian staff members for allegedly costing the airline over $600,000 through ticketing reservation violations. This dismissal comes on the heels of a picketing by the National…
Local Stock Nigerian Treasury Bill Rates Unresponsive to CBN Interest Hike May 23, 2024 Ekemini Uba Despite a recent hike in interest rates by Nigeria’s Central Bank, rates on one-year treasury bills remained nearly unchanged at 26.08%. This lack of response, known as the “pass-through effect,”…
Business Local Nigeria’s $1trn transactions to get new AI-based defence May 23, 2024 Ekemini Uba Nigeria is stepping up its fight against financial fraud as the volume of electronic transactions explodes. With over N1.55 quadrillion (roughly $1 trillion USD) worth of electronic transactions processed in…
Business Currency Local Naira Holds Steady Against Dollar Despite CBN Rate Hike May 23, 2024 Ekemini Uba The Nigerian Naira remained stable against the dollar at the official foreign exchange market on Wednesday, even after the Central Bank of Nigeria (CBN) raised interest rates by 1.5%. This…
Business Local Diesel price rises 68% to N1,415.06/ltr May 23, 2024 Ekemini Uba The cost of diesel fuel in Nigeria has jumped dramatically, with a year-on-year increase of 68% to N1,415.06 per litre in April 2024, according to the National Bureau of Statistics…
Business World Microsoft’s AI Deal with UAE Raises Security Concerns, Lawmakers Seek More Oversight May 23, 2024 Ekemini Uba Microsoft’s deal with G42, a UAE-backed AI company, is raising eyebrows over potential national security risks. The agreement might involve transferring sensitive technology like AI model weights, which are essential…
Business World Stocks catch a ride higher with Nvidia; investors cautious over rates May 23, 2024 Ekemini Uba Global stock markets saw a modest rise on Thursday, fueled by a strong performance from tech giant Nvidia. However, investor optimism was tempered by concerns about the possibility of higher…
Business World Japan’s Factory Activity Shows Signs of Life After Months of Slump May 23, 2024 Ekemini Uba Positive news for Japan’s economy as factory activity finally expanded for the first time in a year. The au Jibun Bank flash manufacturing PMI reached 50.5 in May, surpassing the…
Business Local Quadrant MSL COO Retires May 22, 2024 Ekemini Uba Quadrant MSL, a strategic communications firm, is saying goodbye to their COO and Head of Business, Oluwarantimi Olaniyan. After nearly five years at the helm, Olaniyan is stepping down to…
Business Local ACMPN to Induct new members at the 2024 Mental Health Awareness Week May 22, 2024 Ekemini Uba The Association for Counsellors Matchmaking & Psychotherapy of Nigeria (ACMPN) is holding a special event from May 20th to 25th, 2024.This event aims to raise awareness about mental health and…
