Ghana Faces Revenue Dilemma Amid Proposed Tax Cuts
The Ghanaian government is considering removing key taxes, including the e-levy, betting tax, and emission levy, in response to concerns…
Day: February 4, 2025
Ghana fuel prices increase for third consecutive time in 2025
Fuel prices in Ghana have increased for the third consecutive time in 2025, with Oil Marketing Companies (OMCs) adjusting their…
NPA goes tough on use of NXP for export cargos
The Nigerian Ports Authority (NPA) has mandated the enforcement of the Nigeria Export Proceed (NXP) as a key requirement for…
NUPRC cracks down on IOCs, others over crude oil diversion
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a stern warning to International Oil Companies (IOCs) and independent producers…
FG Approves N4.2 Trillion for Major Infrastructure Projects, Unveils Plan to Boost Creative Economy
The Nigerian federal government has approved road infrastructure projects totaling N4.2 trillion, including key highways, bridges, and the second phase…
CBN extends $25,000 weekly forex sales to BDCs
The Central Bank of Nigeria (CBN) has announced an extension of the temporary arrangement that allows Bureau de Change (BDC)…
Oil firms must supply local refineries or lose export permits – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a directive compelling oil exploration and production companies to strictly adhere…
Insurers given six months to perfect annuity irregularities
The National Insurance Commission (NAICOM) has given life insurance operators six months to fully comply with new annuity guidelines introduced…
OPEC to monitor oil production compliance as Nigeria eyes 2.7mbpd
Nigeria has set an ambitious goal to increase its oil production to 2.7 million barrels per day (bpd) by 2027,…
Meta says it may stop development of AI systems it deems too risky
Meta’s CEO, Mark Zuckerberg, has committed to one day making artificial general intelligence (AGI) accessible to the public. However, the…
Telecom tariff hike: NLC suspends planned nationwide protest
The Nigeria Labour Congress (NLC) has suspended its planned nationwide protest, which was set for February 4, 2025, in response…
Africa’s Climate Crisis: A Struggle It Didn’t Cause but Can’t Escape
Despite contributing just 4% of global carbon emissions, Africa faces the worst consequences of climate change. The continent is already…
FG Clarifies Position on Electricity Tariff Hike, Says N200bn Paid on Subsidy Monthly
The Federal Government has denied reports suggesting a 65% increase in electricity tariffs, calling them a misrepresentation. According to the…
EU to Disburse €150bn to Nigeria, Africa Under Global Gateway Initiative
The European Union (EU), through its Global Gateway initiative, has committed €150 billion to be disbursed by 2027 to Nigeria…
Nigeria’s business confidence rises as PMI hits 52.0 in January 2025
Nigerian businesses have shown resilience in the face of economic challenges, as reflected by the Stanbic IBTC Bank Nigeria Purchasing…
Naira appreciates to N1,605/$1 in parallel market on Monday
The Nigerian naira showed a significant recovery in the parallel market on Monday, appreciating by N5 against the US dollar.…
CBN: Banking stocks surge 9.8% m/m as DMBs ramp up capital raising efforts
The Nigerian banking sector has seen a remarkable 9.8% month-on-month surge in banking stocks, driven by the Central Bank of…
AVA unveils money market fund
AVA Global Asset Managers Limited (AVA GAM) has launched its Money Market Fund, which has been approved by the Securities…
Stock Market Gains N83bn on Demand for MTN, 20 Others
The Nigerian Exchange Limited (NGX) opened the new week with a positive market performance, recording an N83 billion increase in…
CBN Reaffirms Commitment to Empower Nigerian Youth Through Credit Policies and Capacity Building
The Central Bank of Nigeria (CBN) has reaffirmed its dedication to empowering Nigerian youth by enhancing credit policies and capacity-building…
Nigeria Launches FX Code to Transform Foreign Exchange Market with Integrity and Transparency
Nigeria has officially launched the Nigeria Foreign Exchange (FX) Code on January 28, 2025, marking a major milestone in its…
Trump Pauses Tariffs on Mexico and Canada, Maintains Pressure on China
U.S. President Donald Trump has agreed to delay imposing tariffs on Mexico and Canada for 30 days. The decision follows…
Nigeria Urged to Adopt Asset-Based Financing for Economic Growth
As Nigeria aims to grow its economy to $1 trillion by 2030, experts have advised the Federal Government (FG) to…
FCMB Group Lists 19.8 Billion Shares on NGX Following Oversubscribed Public Offer
FCMB Group Plc has successfully listed 19.8 billion shares on the Nigerian Exchange Group (NGX) after a highly subscribed public…