Tinubu Pledges Support For Local Manufacturers
The federal government is committed to creating a conducive environment for local manufacturers and small-scale producers to conduct business profitably…
Month: May 2024
Weststar Unveils the Luxurious Mercedes-Benz GLS Facelift in Nigeria
In a move to redefine luxury SUVs, Mercedes-Benz Nigeria, through Weststar Associates Limited, has unveiled the much-anticipated GLS Facelift. This…
8 banks pay N200bn as income tax in Q1’24
In the first quarter of 2024 (Q1’24), eight commercial banks in Nigeria collectively paid a total of N200.19 billion in…
Deployment of CNG pumps rises 233% — Pi-CNG
The deployment of dispensing pumps for Compressed Natural Gas (CNG) in Nigeria has experienced a remarkable surge of 233 percent…
Crypto Exchanges Delist Naira from Peer-to-Peer Trading Platforms, SEC Confirms
The Securities and Exchange Commission (SEC) announced yesterday that crypto exchanges have initiated the delisting of the Naira from Peer-to-Peer…
Morgan Stanley Joins Major US Banks with $269 Million Investment in Bitcoin ETFs
Morgan Stanley, one of the top banking firms in the United States, has disclosed its investment of $269 million in…
Gas Supply Gets 25% Boost As Tinubu Unveils 3 Projects
President Bola Tinubu recently commissioned three significant gas projects aimed at enhancing energy supply and fostering industrial growth in Nigeria.…
Senate Approves Tinubu’s $500m Loan Request To Finance Mass Metering
The Senate has given its nod to President Bola Tinubu’s request for a $500 million loan to fund the federal…
Gbarain Power Plant Set to Begin Operations Soon- NDPHC
Mr. Chiedu Ugbo, the Managing Director of Niger Delta Power Holding Company (NDPHC), announced that the 252 Megawatts Gbarain Power…
Naira Recovers to N1,459.02/$ After Week-long Depreciation
The naira made a remarkable recovery on Wednesday, bouncing back to N1,459.02 per dollar after experiencing depreciation for a week…
Tax Now Highest Revenue Source to Federation – AGF
The Federal Government of Nigeria has asked tax collectors to work harder to get more money from taxes. The Accountant-General…
SEC to Work with EFCC on Foreign Exchange Trading Manipulations
The Securities and Exchange Commission (SEC) has pledged to collaborate with the Economic and Financial Crimes Commission (EFCC) to curb…
Firm Unveils $40,000 Funding For Entrepreneurs In Agric Value Chain
Heifer Nigeria has introduced a $40,000 funding initiative through the AYuTe Africa Challenge Nigeria 2024. This program aims to identify…
NACCIMA hosts delegations from China, discusses Nigeria-China trade relations
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) hosted a 22-member delegation from Hunan Province, China,…
Nigeria’s Oil Production Rises to 1.28 Million Barrels Per Day in April 2024
The Organisation of Petroleum Exporting Countries (OPEC) reported that Nigeria’s oil production, excluding condensate, increased by 4% in April 2024…
SMEs Urged to Leverage AI for Business Growth at Ecobank MySME Webinar
Small and Medium Enterprises (SMEs) in Nigeria have been encouraged to adopt Artificial Intelligence (AI) technology to enhance their business…
World Bank Reports Nigeria’s Growth in Private Sector Investments for 2023
The World Bank reported that Nigeria secured 133 private sector investment commitments in three projects during 2023. This information came…
Naira Weakens to N1,520 Per Dollar in Parallel Market
The Naira weakened against the dollar, dropping to N1,520 per dollar in the parallel market, down from N1,470 per dollar…
Argentina’s Inflation Rate Nears 300%, Despite Signs of Deceleration
Despite positive signs of a deceleration, Argentina continues to face soaring inflation, with the annual inflation rate expected to approach…
South Africa’s Unemployment Rate Rises to 32.9% Ahead of Election
South Africa’s unemployment rate climbed to 32.9% in the first quarter of this year, up from 32.1% in the previous…
Uganda in Talks with Chinese Firm for $180m Power Transmission Line to South Sudan
Uganda is in discussions with Chinese company Sinohydro Corporation Limited for the development of a $180 million power transmission line…
Anglo American CEO Accelerates Spin-Off Plans to Hinder BHP Takeover Bid
The CEO of Anglo American, Duncan Wanblad, revealed on Tuesday that the company’s plans for a spin-off of its South…
Oil Prices Stable as OPEC Maintains Demand Forecast, Investors Await U.S. Inflation Data
Oil prices remained largely unchanged on Tuesday as OPEC retained its global oil demand predictions, while investors awaited U.S. inflation…
U.S. Trade Representative Calls for Higher Tariffs on Chinese Goods
U.S. Trade Representative Katherine Tai has proposed increased tariffs on a range of Chinese goods, citing the need for expanded…
Tetra Pak Names Haithem Debbiche as New Managing Director for West Africa
Tetra Pak, a leading food processing and packaging solutions company, has appointed Haithem Debbiche as the new Managing Director for…
Retail investors pile into stock market despite weaker purchasing power
In the first quarter of 2024, despite facing accelerating inflation, which has eroded purchasing power, retail investors poured N670.89 billion…
NPA Clears Decade-Long Gridlock on Mile 2-TinCan-Apapa Corridor
The Nigerian Ports Authority (NPA) has announced the successful clearance of the notorious decade-long gridlock on the Mile 2-TinCan-Apapa corridor,…
FCTA issues 24-hour notice for demolition of 500 illegal structures in Abuja
The Department of Development Control, under the Federal Capital Territory Administration (FCTA), has issued a 24-hour demolition notice to proprietors…
Militant group demands 25% of Okomu Oil Plc shares after fatal attack on host community
A militant group identified as the “Ijaw Freedom Fighters” launched an attack on the Imariogha community near the Okomu Oil…
UK fears a £108 billion decline to creative sector as int’l student numbers reduce
Creative UK, representing the creative industries, has raised concerns over the potential elimination of post-graduation work options for international students…