Business Local Coronation Insurance posts 192% profit growth in 2023 July 2, 2024 Ekemini Uba Coronation Insurance Plc has reported an impressive year-on-year profit growth of 192% for the fiscal year 2023. According to the group’s audited financial statement, the profit after tax reached N1.82…
Business Local Nigeria’s telecom sector attracts $191.5 million FDIs in Q1 2024 – NBS July 2, 2024 Ekemini Uba Nigeria’s telecommunications sector attracted $191.5 million in Foreign Direct Investments (FDIs) in Q1 2024. According to the National Bureau of Statistics (NBS), this represents a 769% increase compared to $22.05…
Business Energy Local Dangote refinery begins gasoil exports to West African countries, as imports from Europe decline July 2, 2024 Ekemini Uba Nigeria’s new Dangote oil refinery is increasing gasoil exports to West Africa, capturing market share from European refiners. The $20 billion refinery, still awaiting the restart of units to produce…
Business World Bank Restructures Nigeria Digital ID Project to Ensure $430 Million Funding July 2, 2024 Ekemini Uba The World Bank is restructuring Nigeria’s Digital Identification for Development (ID4D) project to secure the full $430 million pledged by financiers, including the French Development Agency (AFD) and the European…
Local Toyota to launch three electric vehicles in Nigeria July 1, 2024 Ekemini Uba Toyota Nigeria Limited (TNL) announced plans to introduce three electric vehicles in Nigeria over the next three years. This aligns with the government’s green deal initiative to promote sustainable practices.…
Local New Minimum wage may push states into bankruptcy — NGF report July 1, 2024 Ekemini Uba The implementation of a new minimum wage in Nigeria is facing roadblocks. While President Tinubu has promised to send a proposal to the National Assembly, state governments are wary of…
Business Local NESG Backs CBN’s Stoppage Of Price Verification System On FX July 1, 2024 Ekemini Uba The Nigerian Economic Summit Group (NESG) is praising the Central Bank of Nigeria’s (CBN) decision to eliminate the Price Verification System (PVS) for foreign exchange transactions. This change is expected…
Business Local MRS Nigeria Delisted from the Nigerian Stock Exchange, Eyes OTC Market July 1, 2024 Ekemini Uba MRS Nigeria Limited, an oil marketing firm, has received shareholder approval to voluntarily delist its shares from the Nigerian Exchange Limited (NGX). This decision comes after an Extraordinary General Meeting…
Local MTN To Construct West Africa’s Largest Data Centre July 1, 2024 Ekemini Uba MTN Nigeria is building the largest data center in West Africa, a signficant development for the country’s digital landscape. This 1,500-rack, Tier 4 facility will offer ultra-reliable data storage with…
Business Energy Local Nigeria Removes 5 Oil Blocks from Licensing Round Due to Legal Issues July 1, 2024 Ekemini Uba The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has removed five (5) oil blocks from the ongoing 2024 Licensing Round because of ongoing legal disputes. The affected blocks are PPL3008, PPL3009,…
