We are working on postal reform bill — Postmaster General
The Postmaster General of Nigeria, Ms. Tola Odeyemi, emphasized the importance of passing the long-pending postal reform bill during the…
Month: July 2024
Electricity: FG targets 9,000MW from renewable energy
The Nigerian government plans for the renewable energy sector to contribute 9,000 megawatts of power by 2030 as part of…
Incoming CIIN president unveils agenda for insurance industry growth
Mrs. Yetunde Ilori, the incoming president of the Chartered Insurance Institute of Nigeria (CIIN), plans to leverage technology to advance…
Energy stakeholders brainstorm on midstream, downstream devpt at SPE-NAICE 2024
Professionals and key players in the energy sector will gather at the SPE-NAICE 2024 event to explore advancements in the…
AEDC Appoints 4th CEO In 11 Months
The Abuja Electricity Distribution Company (AEDC) has appointed Engr Chijioke Okwuokenye as the acting Managing Director, effective immediately. Adefisayo Akinsanya,…
Forex inflow via IMTOs hits $1.07bn in three months – CBN
Foreign exchange inflows from International Money Transfer Operators (IMTOs) increased by 38.86 percent to $1.07 billion in the first quarter…
Domestic workers must benefit from N70,000 minimum wage – Senate
The Senate and the National Council for Women Society (NCWS) have called for domestic servants to be included in the…
Agbakoba warns NNPC against taking over Dangote refinery
Senior Advocate of Nigeria Olisa Agbakoba has cautioned against the Nigerian National Petroleum Company Limited (NNPCL) taking over the Dangote…
Chapel Hill Denham named Nigeria’s best investment bank
Chapel Hill Denham has been awarded the title of Best Investment Bank in Nigeria at the 2024 Euromoney Awards for…
Forex inflow via IMTOs hits $1.07bn in three months – CBN
Foreign exchange inflows from International Money Transfer Operators (IMTOs) in Nigeria saw a significant increase of 38.86% to $1.07 billion…
Japan’s chief cabinet secretary calls for broad-based wage hikes
Japan’s Chief Cabinet Secretary, Yoshimasa Hayashi, has emphasized the importance of extending pay increases to smaller firms as part of…
India boosts spending on job creation, rural areas in first budget after election
India’s Finance Minister Nirmala Sitharaman unveiled a budget of $24 billion for the 2024/25 fiscal year, focusing on job creation…
Digital tax talks in G20 spotlight as US tariff threat looms
Negotiations for a global tax deal are ongoing past the June 30 deadline, with the G20 finance leaders meeting this…
Global aircraft leasing market to hit $315b by 2033
The global commercial aircraft leasing market is set to reach $315.9 billion by 2033, growing at a cumulative annual growth…
NGX delists three companies over poor standards
The Nigerian Exchange (NGX) has delisted three companies—Niger Insurance Plc, Resort Savings and Loans Plc, and RAK Unity Petroleum—citing failure…
Minimum wage: MAN seeks compliance exception for MSMEs
The Manufacturers Association of Nigeria (MAN) has requested that micro, small, and medium enterprises (MSMEs) be exempt from the new…
FG mulls suspension of N10 sugar tax on beverages
The federal government is considering a temporary suspension of the N10 tax on Sweetened Sugar Beverages (SSBs) to help stabilize…
Economy faces threats with 1.4m bpd crude output
Nigeria’s oil output, including condensate, is projected to remain low at 1.4 million barrels per day (mbpd) in the second…
Dangote Fights Back… NMDPRA Letter Shows Regulator Approved Refinery’s In-house Laboratory for Products’ Testing
Dangote Refinery is defending the quality of its refined products following allegations by the Nigerian Upstream and Downstream Petroleum Regulatory…
Banks Defy Stiff Competition from Fintechs, Grow Deposits by 63% to N115tn
Nigerian banks saw a significant increase in total deposits, reaching N115 trillion in the 2023 financial year, a 63% growth…
Zenith Bank Retains Position as Nigeria’s Number One Bank By Tier-1 Capital for Fifteen Consecutive Years
For the fifteenth consecutive year, Zenith Bank Plc has been recognized as the Number One Bank in Nigeria by Tier-1…
Planes Grounded As Global IT Outage Hits Airlines, Media, Banks
A major IT outage spreading across the globe has caused significant disruptions in various sectors. Airlines in Singapore, the United…
Mining Sector Gets International Boost With Jupiter Lithium, Bevex’s Processing Agreement
Jupiter Lithium Limited has signed an MOU with South Africa’s Bevex Mining Services to develop modular lithium concentrator plants at…
IMF Lowers Nigeria’s 2024 Growth Forecast to 3.1%
The IMF has reduced its forecast for Nigeria’s economic growth in 2024 to 3.1%, down from the earlier estimate of…
Optiva Boss Inducted As WADA Ambassador
Franklin Nechi, Chairman of Optiva Capital, has been inducted as an ambassador for the War Against Drug Abuse (WADA) by…
All New Mining Licences Must Have Local Value — Tinubu
President Bola Ahmed Tinubu has directed the Federal Ministry of Solid Minerals Development to issue mining licenses only if they…
Insurers’ assets hit N3.3trn as premium income rises by 51%
Insurance companies in Nigeria have grown their total assets by 36.9% year-on-year, reaching N3.3 trillion in Q1’24 from N2.4 trillion…
Dangote backs NUPRC on domestic crude supply guidelines
Dangote Industries Limited (DIL) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its interventions in crude supply requests…
Chappal Energies acquires Total E&P 10% stake in SPDC
Chappal Energies announced the acquisition of a 10% non-operated interest from Total Energies, EP, Nigeria Limited, involving onshore and shallow…
Nigeria, Africa Lose $50 Billion Annually to Illegal Financial Outflows
According to Pius Akutah, Executive Secretary/CEO of the Nigerian Shippers’ Council (NSC), Africa loses over $50 billion annually due to…