High petrol price pushes inflation to 32.70% – Report
Nigeria’s headline inflation rate rose to 32.7% in September 2024, marking a marginal increase of 0.55% from August, as reported…
Month: October 2024
Forex crisis grounds four inland dry ports projects
Maritime operators have cited Nigeria’s foreign exchange crisis as a key factor in the delayed completion of four out of…
Employers remit N692bn pension contribution – PenCom
In the first half of 2024, employers across Nigeria’s public and private sectors contributed a total of N692 billion to…
Stanbic IBTC Holdings appoints Kunle Adedeji as Acting Chief Executive
Stanbic IBTC Holdings has appointed Dr. Kunle Adedeji as Acting Chief Executive Officer, following regulatory approval. This comes as Dr.…
FG removes VAT on diesel, CNG, electric vehicles, others to crash prices
The Federal Government of Nigeria has announced value-added tax (VAT) exemptions for several energy products, including diesel, Liquefied Natural Gas…
Saudi warns of $50 oil if OPEC+ fails to honour cut deal
Saudi Arabia, the leading member of the OPEC+ alliance, has warned that global oil prices could drop to $50 per…
Nigeria’s FX crisis fuels crypto usage as transactions hit $59bn
Cryptocurrency usage in Nigeria continues to grow rapidly, fueled by a weakening national currency and high inflation, according to a…
Court hears Barbican, FBN N5.4bn shares dispute Oct 21
A Federal High Court in Lagos has scheduled October 21, 2024, for the hearing of pending applications in a lawsuit…
BOI disburses N77.56bn loans to MSMEs
The Bank of Industry (BOI) has disbursed N77.65 billion in loans to nearly 1,000 medium, small, and micro-enterprises (MSMEs) across…
‘CNG initiative unlocks $175m in private investment’
The Federal Government’s Compressed Natural Gas (CNG) initiative has attracted $175 million in private sector investments over the past year,…
Walz, Vance clash at policy-heavy vice presidential debate
Democrat Tim Walz and Republican JD Vance debated on crucial issues like the Middle East crisis, immigration, and the economy…
PenCom Approves Merger Between Access, ARM Pensions
The National Pension Commission (PenCom) has approved the merger between ARM Pension Managers and Access Pensions Limited, creating a new…
Why FG is yet to approved fixed FX rate for Custom import duties — Taiwo Oyedele
The Nigerian government has explained why it cannot use a fixed exchange rate for import taxes, which are the fees…
Petrol Import In Nigeria Drops By 3.58 Billion Litres After ‘Subsidy Removal’
Nigeria has experienced a significant decrease in petrol imports following President Bola Tinubu’s removal of the fuel subsidy in May…
CBN Says Currency In Circulation Now N4.1trillion With Only 6% In Banks
Data from the Central Bank of Nigeria (CBN) reveals that the total currency in circulation has reached an all-time high…
Oando Emerges First Nigerian IOC, Valuation Hits $4 Billion
Oando Plc, a leading Nigerian oil and gas company, has become Nigeria’s first indigenous International Oil Company (IOC) after expanding…
Refugees Contribute $124b To U.S. Economy
President Joe Biden has signed a decision to set the U.S. refugee admissions goal at 125,000 for Fiscal Year 2025,…