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Day: July 29, 2024

Power sector strained as Togo, Benin, others owe Nigeria $14.19m for electricity exported in Q1
BusinessEnergy

Power sector strained as Togo, Benin, others owe Nigeria $14.19m for electricity exported in Q1

The Nigerian Electricity Regulatory Commission (NERC) reported that none of the four international bilateral electric power customers made payments towards…

byayotilewaJuly 29, 2024July 29, 2024
Competition toughens as 9Mobile gets new owner
BusinessFintech

Competition toughens as 9Mobile gets new owner

9Mobile has faced significant challenges since Etisalat Abu Dhabi exited the Nigerian market in 2017 over a $1.2 billion loan…

byayotilewaJuly 29, 2024July 29, 2024
Netflix, Google, Microsoft increase naira prices on inflation
Local

Netflix, Google, Microsoft increase naira prices on inflation

Due to escalating inflation and the devaluation of the naira, major technology firms like Netflix, Google, DSTV, GOtv, and Microsoft…

byayotilewaJuly 29, 2024July 29, 2024
Morocco, SA, Egypt dwarf Nigeria’s $210m auto industry
BusinessTrade

Morocco, SA, Egypt dwarf Nigeria’s $210m auto industry

Nigeria’s $210 million automotive industry lags behind peers such as Morocco, South Africa, and Egypt due to low demand for…

byayotilewaJuly 29, 2024July 29, 2024
Ecobank Ordered to Pay Over N1 Billion to Former Oceanic Bank Employees
Local

Ecobank Ordered to Pay Over N1 Billion to Former Oceanic Bank Employees

The National Industrial Court in Lagos has mandated Ecobank Nigeria Limited to pay N1,086,611,589.11 to 1,742 former employees of the…

byayotilewaJuly 29, 2024July 29, 2024
Fuel Rises To N1,300/Litre As Depots Run Dry
BusinessCommoditiesLocal

Fuel Rises To N1,300/Litre As Depots Run Dry

Fuel scarcity has hit Nigeria hard, causing long queues at petrol stations in major cities like Lagos, Ogun, Abuja, and…

byayotilewaJuly 29, 2024July 29, 2024
Oil Producing Communities Threaten To Shut Down All Pipeline Facilities Over Unfair Treatment Of Dangote /Modular Refineries
BusinessLocal

Oil Producing Communities Threaten To Shut Down All Pipeline Facilities Over Unfair Treatment Of Dangote /Modular Refineries

The Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) has issued a warning that it will renew agitation for…

byayotilewaJuly 29, 2024July 29, 2024
Fitch: Inflation Has Peaked in Nigeria, Will Moderate Below 25% By Year-end
BusinessLocal

Fitch: Inflation Has Peaked in Nigeria, Will Moderate Below 25% By Year-end

Fitch Solutions has projected that Nigeria’s high inflation, which reached 34.19% in June, has peaked and will decrease to below…

byayotilewaJuly 29, 2024July 29, 2024
BVN Enrolments Surge by 854,267 to 62.7m in Two Months
BankingBusiness

BVN Enrolments Surge by 854,267 to 62.7m in Two Months

Bank Verification Number (BVN) registrations in Nigeria have risen to 62.7 million as of July 2024, up from 61.87 million…

byayotilewaJuly 29, 2024July 29, 2024
Stock Market Down N1.3tn WoW as Investors Migrate to Fixed Income Market
BusinessStock

Stock Market Down N1.3tn WoW as Investors Migrate to Fixed Income Market

Following the Central Bank of Nigeria’s (CBN) increase in the Monetary Policy Rate (MPR) to 26.75%, the Nigerian stock market…

byayotilewaJuly 29, 2024July 29, 2024

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