Cement retailers commend govt for passage of price regulation LI
Cement retailers in Ghana have expressed support for the new Legislative Instrument (LI) aimed at stabilizing cement prices. Retailers believe…
Month: September 2024
Boeing strike threat looms as workers vote on contract
Boeing’s U.S. West Coast factory workers are set to vote on a controversial new contract on Thursday, with the potential…
US holiday sales to grow at slowest pace since 2018, report says
U.S. holiday sales are expected to grow at their slowest pace in six years, data from Deloitte showed on Thursday…
Shell’s $1.3bn asset sale to Renaissance not completed yet – FG
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has clarified that Shell’s $1.3 billion deal to sell its onshore assets to…
American Businessman Sentenced to 68 Years in Nigerian Court for $1.6 Million Visa Fraud
American businessman Marco Antonio Ramirez has been sentenced to 68 years in prison by a Lagos court for defrauding Nigerians…
FG unveils plans to generate $100 billion annually from creative economy
The Federal Government of Nigeria has unveiled a comprehensive plan aimed at generating $100 billion annually and creating over two…
Guaranty Trust recorded N1tr profit in six months
Guaranty Trust Holding Company (GTCO) Plc has achieved a historic milestone by becoming the first Nigerian financial institution to report…
National committee to tackle multiple taxation, others
The Federal Government of Nigeria has established a five-member committee to address the issues of multiple taxation and the harassment…
Airtel okays $.5m fellowship
Airtel Africa has approved an initial $500,000 to fund the Airtel Africa Fellowship Program, aimed at supporting 10 undergraduate students…
Osubi Airport earns N831m in six months
Osubi Airport in Warri has seen significant growth in passenger traffic and revenue in the first half of 2024, generating…
Nigeria’s trade surplus rises 34% to N6.95 trn
Nigeria’s trade surplus experienced a significant rise in the second quarter of 2024, climbing 33.9% quarter-on-quarter (QoQ) to N6.95 trillion…
HARSH ECONOMY: Sacked workers withdraw N9.2bn from pension savings
In the first half of 2024 (H1’24), a total of 14,179 Retirement Savings Account (RSA) holders who lost their jobs…
Nigeria added 45,000bpd oil in August – Report
Nigeria’s crude oil production increased to 1.352 million barrels per day (mbpd) in August 2024, up from 1.307 mbpd in…
4 million containers handled in five years, say barge operators
The Barge Operators Association of Nigeria (BOAN) has announced that its members successfully mobilized four million twenty-foot equivalent units (TEUs)…
Marketers, refiners demand total subsidy removal
Petroleum marketers, refiners, and depot owners in Nigeria have called for the full deregulation of the downstream oil sector, urging…
UniCredit buys 9% stake in Germany’s Commerzbank, sparking takeover talk
Italy’s UniCredit has acquired a 9% stake in Germany’s Commerzbank for €700 million, raising speculation that UniCredit’s CEO Andrea Orcel…
Indonesian crypto exchange Indodax loses $22 million to hackers
Indonesian crypto exchange Indodax has suffered a major hack, losing $22 million in assets from its hot wallets. Blockchain analytics…
First Bank of Nigeria halts misconceptions, Clarifies sale of FBNQuest merchant bank
First Bank of Nigeria (FBN) has confirmed that the recent sale of its 100% equity stake applies solely to FBNQuest…
Mastercard rolls out Non-custodial Bitcoin debit card in historic move
Mastercard has introduced a new Bitcoin debit card in partnership with crypto payment company Mercuryo. This card allows users to…
Taiwan to assist Nigeria achieve technological growth
Taiwan is ready to support Nigeria in boosting its technology sector, as revealed by Mr. James Huang, Chairman of the…
VAT remains 7.5%, no hike planned –Edun
Nigeria’s Minister of Finance, Mr. Wale Edun, has debunked rumors that the Federal Government raised the Value-Added Tax (VAT) rate…
FG’s dollar bond attracted $900m subscription – Edun
Nigeria’s first-ever foreign-currency domestic bond has successfully attracted $900 million in subscriptions, surpassing expectations. The Minister of Finance, Wale Edun,…
Why NNPC may not lift Dangote petrol on Sunday
Four days before the Nigerian National Petroleum Company Limited (NNPC) was set to begin lifting Premium Motor Spirit (PMS) from…
Naira weakens to N1637/$
The Nigerian naira continued to decline against the US dollar, closing at N1637.59 at the end of trading on Tuesday.…
Financial sector grew by 30% – FG
Nigeria’s financial sector grew by more than 30% in the first half of 2024, signaling strong economic recovery from contractions…
Oil production rose to 1.35mbpd in August – OPEC
Nigeria’s crude oil production increased from 1.307 million barrels per day (mbpd) in July to 1.352 mbpd in August, according…
Kuda launches virtual PoS for SMEs
Kuda, through its Kuda Business platform, has launched virtual and physical point-of-sale (PoS) products aimed at streamlining payment processing for…
FG eyes slice of OPay, Palmpay N46tn transactions
The Nigerian government is set to implement a new Electronic Money Transfer Levy (EMTL) from September 9, 2024. This levy…
Boon for Nigeria as Shell’s $1.3bn assets sale gets regulatory nod
Shell International Plc has secured approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to sell its onshore assets to…
BMW trims 2024 profit margin on technical issues, weak China demand
BMW has revised its profitability forecast for 2024, now expecting an EBIT margin of 6% to 7% instead of the…