Geregu Power Makes N8.78bn Advance Payment to Italian Firm for Turbine Overhaul
Geregu Power Plc, a power generating company in Nigeria, revealed that it has made advance payments totaling…
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Manufacturers and Students Struggle to Access Forex as Naira Exchange Rate Hits…
Despite recent reforms under the Bola Tinubu administration, Nigerian manufacturers and businesses are still…
AFIG Funds and Norfund Successfully Complete Acquisition of Ivorian Packaging…
A consortium of investors led by AFIG Funds and Norfund has successfully completed the acquisition of Nouvelle…
Endeavour Mining Divests 90% Stake in Burkina Faso Mines to Lilium Mining for $300…
In a strategic move, UK-based Endeavour Mining has sold 90% stakes in its Boungou and Wahgnion mines in Burkina…
Amea Power Secures $75 Million Funding from SoftBank Group for Expansion
Dubai-based renewable energy company, Amea Power, has successfully secured a $75 million equity funding round from…
Millions of Poor Nigerians Excluded from Cash Transfer Program: World Bank Report
The World Bank's Nigeria Development Update for June 2023 reveals that over 42.69 million poor Nigerians have been…
Unveiling the Root Causes of Building Collapses in Lagos: World Bank Report
The World Bank's report on housing regulatory framework standards in sub-Saharan Africa reveals that the frequent…
Central Bank of Nigeria Records Significant Recovery in Intervention Program…
The Central Bank of Nigeria (CBN) has achieved a remarkable milestone in its intervention programs, announcing the…
Financial Services Stocks Drag Nigerian Bourse, Market Capitalization Declines by…
The Nigerian bourse experienced a downturn last week as losses in FBN Holding Plc, Ecobank Transnational…
Concerns Mount Over Power Tariff Review Amid Rising Subsidy Costs
The Nigerian Electricity Regulatory Commission (NERC) has reported that the Federal Government's spending on…
Manufacturers Association of Nigeria Raises Concerns Over Exclusion from Smart…
The Manufacturers Association of Nigeria (MAN) has voiced its apprehensions over the impending displacement of…
Access Bank to Acquire Standard Chartered’s Sub-Saharan Subsidiaries
Access Bank Plc has recently entered into an agreement to purchase the sub-Saharan subsidiaries of Standard…
Rising Government Borrowing Pushes up Loan Costs for Kenyan Households and…
The Kenyan government's increasing reliance on more expensive domestic loans has resulted in higher interest rates…
Ghanaian Government Plans to Dispose of 17 Defunct State-Owned Enterprises
The Ministry of Public Enterprises in Ghana has announced plans to dispose of 17 defunct state-owned enterprises,…
Nigerian Power Distribution Companies Apply for Tariff Review
The Federal Government has announced that the 11 power distribution companies (Discos) in Nigeria have submitted…
Nigeria’s Crude Oil Earnings Rise to N1.68tn in June as Output Increases
Nigeria's crude oil earnings reached over N1.68tn in June 2023 due to an increase in the country's oil output,…
Central Bank of Nigeria Directs IMTOs to Pay Out Using I&E Window Rate
The Central Bank of Nigeria (CBN) has issued a directive requiring International Money Transfer Operators (IMTOs)…
Central Bank of Nigeria Upgrades eNaira App with NFC Technology
The Central Bank of Nigeria (CBN) has enhanced its eNaira app by integrating Near Field Communication (NFC)…
Declining Foreign Investments Pose Challenges for Nigeria’s Manufacturing…
Foreign investments in Nigeria's manufacturing sector witnessed a significant drop of 35% from $392.5 million in…
Access Bank Completes Acquisition of Majority Stake in Finibanco Angola…
Access Bank Plc, the flagship subsidiary of Access Holdings, has successfully completed its acquisition of a…
Dangote Cement Expands Production Capacity in Itori, Ogun State, and Across Africa
Dangote Cement has announced its plans to expand production capacity through the construction of a new integrated…
Inflows into Nigeria’s Investors and Exporters Window Rise to $2.55bn
Data obtained from the FMDQ revealed that the total inflows into Nigeria's Investors and Exporters Window (I&E…
Senate Probes Alleged Uneven Disbursement of N483bn Intervention Loans
The Nigerian Senate has launched an investigation into the alleged uneven disbursement of N483 billion in…
Nigeria’s Oil Production Set to Increase with Addition of 192,000 Barrels…
The Nigerian National Petroleum Company Limited (NNPCL) and its joint venture partners have announced plans to…
Bank Verification Numbers (BVNs) Reach 57.96 Million as CBN Plans to Close…
According to data from the Nigeria Inter-Bank Settlement System Plc, the total number of issued Bank Verification…
New Gas Pricing Template and Clearing Power Sector Debts: Boosting Nigeria’s…
A new gas pricing template for the power sector and gas-based industries in Nigeria is awaiting approval from…
Flour Mill of Nigeria Leverages Strong Credit Rating to Secure Capital Market…
Flour Mill of Nigeria Plc, a prominent consumer conglomerate in Nigeria, has reaffirmed its commitment to…
Nigeria’s Low VAT Performance Raises Concerns and Calls for Policy Changes
The Nigerian Federal Government expressed alarm over the country's underperforming Value Added Tax (VAT) compared…
Nigeria to Seek Increased OPEC Oil Quota in November, Says NNPCL
The Nigerian National Petroleum Company Limited (NNPCL) has stated that the Federal Government of Nigeria plans to…
Kenya to Float Second Tranche of Bond to Clear Fuel Subsidy Pending Bill
The Treasury is set to float the second tranche of a bond worth Ksh 28 billion this week to clear the pending bill…