Minister pledges support for indigenous tech firms
The Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, has pledged government support for indigenous technology companies to help…
Month: November 2024
Nigeria’s Power Sector Set to Seek $10 Billion in Private Investment for 24-Hour Electricity Supply
The Nigerian government aims to bridge a $10 billion investment gap in the power sector through Public-Private Partnerships (PPP) over…
Lagos Johannesburg Cairo Set to Lead Africa’s Economic Growth by 2035
A recent report from Economist Intelligence predicts that Lagos Johannesburg and Cairo will emerge as the top economic cities in…
Nigeria’s Domestic Debt Hits N66.96 Trillion Amid Inflation and Budget Deficits
Nigeria’s domestic debt stock has surged to N66.957 trillion as of mid-2024, marking an 8.74% increase from the previous quarter.…
NCDMB Seeks Industry Support to Boost Nigeria’s Crude Oil Output and Energy Security
The Nigerian Content Development and Monitoring Board (NCDMB) has called for robust support from industry stakeholders to attract foreign direct…
MAN Urges Full Support for Dangote Refinery to Drive Nigeria’s Economic Growth
The Manufacturers Association of Nigeria (MAN) has called on the Nigerian government and citizens to support the Dangote Refinery, emphasizing…
Nigerian Stock Market Rebounds with N96bn Gain, Driven by Key Sector Advances
The Nigerian Exchange Limited experienced a positive shift on Wednesday as investors gained N96 billion, offsetting a previous loss of…
British International Investment Provides $30M to Boost Renewable Energy in Nigeria
InfraCredit has received a $30 million risk-sharing and blended local currency facility from British International Investment (BII) to support renewable…
Okonjo-Iweala Reappointed for Second Term as WTO Director-General
Ngozi Okonjo-Iweala, former Nigerian finance minister, has been reappointed as the Director-General of the World Trade Organization (WTO) for a…
Nigeria’s Rising Debt-Service Costs Threaten Economic Stability Amid Naira Depreciation
Nigeria’s debt-service-to-revenue ratio surged to 162% in early 2024, significantly straining government finances as more revenue is diverted to debt…
UBA and Mastercard Unveil 75th Anniversary Commemorative Card with Exclusive Offers
To celebrate its 75th anniversary, the United Bank for Africa (UBA) has partnered with Mastercard to launch a special commemorative…
16 major firms incur the loss of N792bn — MAN
The Manufacturers Association of Nigeria (MAN) has revealed that between 2023 and 2024, 16 major manufacturing firms incurred cumulative losses…
EFCC Condemns Corruption in Power Sector Urges Stronger Asset Recovery Action
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has underscored the significant harm that financial…
Elumelu urges increased female leadership in insurance sector
Dr. Awele Elumelu, Chairperson of Heirs Insurance Brokers and Avon HMO, has joined the growing movement calling for gender parity…
NAICOM Sustains Drive for Outstanding Claims Payment
The Nigerian insurance sector is undergoing significant regulatory changes under the leadership of Ayo Omosehin, the Commissioner for Insurance at…
TotalEnergies Unveils Competitive Entry Cost and Bonuses to Boost Oil Sector Growth
TotalEnergies has outlined five key propositions to revitalize Nigeria’s struggling oil and gas sector, which has faced underinvestment, declining production,…
Pensioners relish in new narrative for pension administration
The management of Nigeria’s Defined Benefits Scheme (DBS), commonly referred to as the “old pension scheme,” was marred by mismanagement,…
Nigeria World Bank Push For Financial Inclusion To Reach 28 Million Unbanked Citizens
At the 2024 International Financial Inclusion Conference in Lagos, Nigeria’s Federal Government, the World Bank, and global stakeholders committed to…
Nigeria Seeks $5 Billion Saudi Trade Facility to Propel Economic Reform
Nigeria is in discussion with Saudi Arabia to secure a $5 billion trade facility as part of its ongoing economic…
CBN Launches New Initiatives to Advance Financial Inclusion in Nigeria
At the International Financial Inclusion Conference in Lagos, the Central Bank of Nigeria (CBN) unveiled three new initiatives aimed at…
Bitcoin jumps 28% since Trump’s win
Bitcoin soared by 28% since Donald Trump’s recent U.S. presidential victory, hitting an all-time high of $88,701. The cryptocurrency’s market…
Guinea Insurance Achieves Strong Growth in Revenue and Profit Through Strategic Expansion
Guinea Insurance Plc reported significant financial growth for 2023, with revenue rising by 49.4% to N2.077 billion from N1.390 billion…
PenCom Targets Self-Employed Professionals with Enhanced Micro Pension Scheme
The National Pension Commission (PenCom) has announced plans to expand and promote its micro pension initiative among self-employed professionals, including…
NSITF Disburses N6.6 Billion in Compensation and Expands Employee Welfare Coverage Across Nigeria
The Nigeria Social Insurance Trust Fund (NSITF) has allocated N6.6 billion to cover claims and compensation for over 103,000 beneficiaries…
Nigerian Manufacturers Face Rising Energy Costs and Operational Challenges in H1 2024
In the first half of 2024, Nigerian manufacturers spent a staggering N238.31 billion on alternative energy sources due to unreliable…
ACCESS Bank UK Opens First Branch in Hong Kong to Boost Africa Asia Trade
ACCESS Bank UK has officially launched its new branch in Hong Kong, marking a significant milestone as the first West…
African Alliance to court nullify NAICOM’s dissolution of our board
African Alliance Insurance Plc has taken legal action against the National Insurance Commission (NAICOM) at the Federal High Court in…
NAICOM hosts ibsurers committee
The 16th Insurers Committee meeting, the first under the new Commissioner for Insurance, Mr. Segun Omosehin, was recently held with…
Stock market posts N83bn gain on positive trading
The Nigerian Exchange Limited (NGX) closed Monday in positive territory, gaining N83 billion in market capitalization, marking the third consecutive…
Naira closes at N1,681.42 at official market
The naira on Monday maintained losses, closing at N1,681.42 per dollar in the official Nigerian Autonomous Foreign Exchange Market (NAFEM),…