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…
Month: July 2024
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…
Morocco, SA, Egypt dwarf Nigeria’s $210m auto industry
Nigeria’s $210 million automotive industry lags behind peers such as Morocco, South Africa, and Egypt due to low demand for…
Ecobank Ordered to Pay Over N1 Billion to Former Oceanic Bank Employees
The National Industrial Court in Lagos has mandated Ecobank Nigeria Limited to pay N1,086,611,589.11 to 1,742 former employees of the…
Fuel Rises To N1,300/Litre As Depots Run Dry
Fuel scarcity has hit Nigeria hard, causing long queues at petrol stations in major cities like Lagos, Ogun, Abuja, and…
Oil Producing Communities Threaten To Shut Down All Pipeline Facilities Over Unfair Treatment Of Dangote /Modular Refineries
The Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) has issued a warning that it will renew agitation for…
Fitch: Inflation Has Peaked in Nigeria, Will Moderate Below 25% By Year-end
Fitch Solutions has projected that Nigeria’s high inflation, which reached 34.19% in June, has peaked and will decrease to below…
BVN Enrolments Surge by 854,267 to 62.7m in Two Months
Bank Verification Number (BVN) registrations in Nigeria have risen to 62.7 million as of July 2024, up from 61.87 million…
Stock Market Down N1.3tn WoW as Investors Migrate to Fixed Income Market
Following the Central Bank of Nigeria’s (CBN) increase in the Monetary Policy Rate (MPR) to 26.75%, the Nigerian stock market…
It’s game, set and match — ALIKO DANGOTE
Dr. Reuben Abati has called for President Tinubu to intervene in the conflict between the Nigerian Midstream and Downstream Petroleum…
Dangote Refinery: Midstream, Downstream Regulatory Authority Giving Tinubu Bad Name — Abati
Aliko Dangote, Africa’s richest man, is widely recognized and respected across the continent. Over the past three decades, he has…
Naira Depreciates To N1,610/$ In Parallel Market
The Nigerian Naira experienced a significant depreciation on Friday, dropping to N1,610 per dollar in the parallel market, down from…
Barry Diller says Paramount pursuit ‘might be over’ for IAC, CNBC reports
Billionaire Barry Diller announced that his digital-media company, IAC, is no longer pursuing the acquisition of Paramount Global. In an…
Nasdaq futures jump as megacaps recover; inflation data in focus
Nasdaq futures jumped 1% on Friday, driven by a rebound in megacap tech and chip stocks. Major tech companies like…
Dangote/NNPC Rift: Nigeria’s Petrol Import From Malta Jumps 43 Times To $2.08bn
Nigeria’s importation of petroleum from Malta soared to $2.08 billion in 2023, a 43-fold increase. According to a report by…
FCMB Lifts Female Entrepreneurs With Zero-Interest Loans
The First City Monument Bank (FCMB) is addressing gender inequality in Nigeria’s business sector with its SheVentures programme, offering interest-free…
Expert faults NBS for omitting Marine, Blue economy data
Dr. Muda Yusuf, CEO of the Centre for the Promotion of Public Enterprise, criticized the National Bureau of Statistics (NBS)…
ICAN charges inductees to uphold principles of accounting
The Institute of Chartered Accountants of Nigeria (ICAN) has advised newly inducted Accounting Technicians to adhere to the five fundamental…
Vehicle importation falls 60.8% in H1’24
Vehicle imports into Nigeria fell sharply by 60.4 percent year-on-year to 10,991 in the first half of 2024, reflecting the…
Lafarge Africa Unveils Nigeria’s First Low-Carbon Multipurpose Cement, ECOPlanet Unicem
Lafarge Africa Plc has launched ECOPlanet Unicem, Nigeria’s first low-carbon multipurpose cement, with a 30 percent reduction in CO2 emissions.…
FG’s revenue surpassed budgetary target, says minister
Nigeria’s Finance and Coordinating Minister of the Economy, Wale Edun, announced that the Federal Government’s revenue for the first half…
Nigeria imported $2.25bn fuel from Malta — Report
Nigeria has imported $2.25 billion worth of fuel from Malta over the past nine years, with a dramatic spike in…
ICYMI: Construction begins at Midoil refinery
Midoil Refining and Petrochemicals Company Limited has officially started construction activities in Lagos, with a sod-turning ceremony at Shekungba, Ikosi/Ejinrin…
FG has exited Way & Means – Edun
In a press conference in Abuja, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announced…
Dangote Cement Reports Pre-Tax Profit Of N292.9 Billion, To Pay Tax Of N103 Billion
Dangote Cement Plc reported a pre-tax profit of N293 billion for the first half of 2024, marking a 22% increase…
NNPC Vs Dangote: Where The Truth Lies
Aliko Dangote, Africa’s richest man, has faced numerous challenges and adversities throughout his career, particularly in the cement industry against…
Real Madrid Break €1billion Revenue Barrier
Real Madrid has made history by becoming the first football club to exceed €1 billion in revenue, reaching €1.073 billion…
Meta Removes 63,000 ‘Yahoo Boys’ Accounts
Meta, the parent company of WhatsApp, Facebook, and Instagram, has removed 63,000 accounts connected to ‘Yahoo Boys’ targeting users in…
First Bank/Visa Promo To Reward 520 Cardholders
First Bank, in partnership with Visa, has launched a Visa Cross Border and Summer campaign running from April 1 to…
CBN’s 26.75% Interest Rate Will Worsen Purchasing Power – MAN
The Manufacturers Association of Nigeria (MAN) has expressed concerns over the Central Bank of Nigeria’s (CBN) recent hike in the…