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…
Year: 2024
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…
Google loses fight against $2.7 billion EU antitrust fine
Google has lost its appeal against a €2.42 billion fine from the European Commission for unfairly promoting its own shopping…
EU’s Vestager triumphs in crackdown on Apple’s tax deal, Google’s practices
EU antitrust chief Margrethe Vestager celebrated two major victories as the European Court of Justice upheld fines against Apple and…
US small business sentiment ebbs in August amid rising uncertainty
Small-business confidence in the U.S. fell in August, reversing July’s gains due to growing uncertainty ahead of the November 5…
Huawei seeks to steal spotlight from Apple with launch of $2,800 tri-fold smartphone
Huawei launched its $2,800 tri-foldable Mate XT smartphone just hours after Apple’s iPhone 16 debut, positioning itself as a key…
Nigeria, China sign $3.3 billion deal for brass industrial park
Nigeria and China have signed a $3.3 billion agreement to develop the Brass Industrial Park and Methanol Complex in Bayelsa…
Forex crisis crashes border trade by 80% – Operators
Licensed customs agents operating at Nigeria’s land borders have reported a significant 80% decline in trade activities due to the…
Agriculture led company income tax with 474.50% in Q2 2024 – NBS report
Nigeria’s agricultural sector led the growth in Company Income Tax (CIT) during the second quarter of 2024, recording a massive…
Electricity DisCos collects N150 billion as revenue in June- NERC
In June 2024, electricity distribution companies (DisCos) across Nigeria collected N150.86 billion, achieving an 85.44% revenue collection efficiency, according to…
Wike signs MoU with Chinese engineering firms for electricity and water projects in FCT
The Federal Capital Territory (FCT) Minister, Nyesom Wike, has formalized a Memorandum of Understanding (MoU) with two major Chinese engineering…
Japaul Gold & VenturesLists N20bn Worth of Shares on NGX
Japaul Gold & Ventures Plc has received approval from the Securities & Exchange Commission (SEC) for a special placement of…
Banks begin charging up $20 as fees on foreign currency accounts
Several commercial banks in Ghana have reintroduced charges on foreign exchange accounts, with fees reaching up to $20 depending on…
T-bills target missed for 9th consecutive time; auction falls by GH₵755m
This week, the Ghanaian government fell short of its money market auction target by GH₵755 million, securing GH₵4.89 billion out…