LASEPA shuts Ikorodu Steel Manufacturing Firms
The Lagos State Environmental Protection Agency has issued issued a ‘stop-work’ order to two steel and iron manufacturing companies in Ikorodu, Sun Flag and Top Steel companies. A statement from…
Estate Firm Increases Access To Short-Let Apartments In Lagos
In line with its ambitions to increase access to short let rentals, Shortlethomes, a leading real estate firm, has launched the 1677 Mayfair Apartments in Victoria Island, Lagos. A statement…
Stakeholders Laud NBC Over Waste Management Initiatives
Stakeholders in Nigeria’s manufacturing and waste management sectors have commended the Nigerian Bottling Company Limited for its initiatives geared towards optimising plastic packaging and waste management in the country. A…
European Markets Head For Mixed Open After U.S. Jobs Miss
European stocks are expected to open in mixed territory on Monday as investors digest jobs data from the U.S. Friday which came in far short of expectations. The U.K.’s FTSE…
SPACs Offer Hope For Reviving Singapore’s Flagging IPO Market
Singapore’s stock exchange this month launched new rules allowing SPACs to list, a move it hopes will draw more firms to raise funds in the city-state amid an IPO market…
UK Food Supplies Set To Worsen As More Brexit Red Tape Is Introduced Within Weeks, Businesses Warn
Business owners fear food safety checks set to be introduced from 1 October will make some shipments unviable, but government says its approach has been ‘pragmatic’ The UK’s food supply…
Stocks End Week On a Downbeat Note After disappointing Jobs Report — Five Experts On What’s Next
Stocks looked to enter the long weekend on a dour note after a disappointing August jobs report. Nonfarm payrolls rose by 235,000 last month, less than half the gain of…
Include Revenue Sources In Budget Proposals, FG Tells MDAs
The Federal Government has directed all Ministries, Departments and Agencies of government to include revenue sources, and not just expenditures, in their 2022 budget submissions. The Budget Office of the…
NNPC Earned N4.61tn, Spent N4.52tn in 2020 — BudgIT
The Nigerian National Petroleum Corporation earned revenue of N4.61tn and spent N4.52tn in 2020, according to a report released on Friday. The report, titled ‘2020 NNPC Annual Performance Review’, was…
Match Shares Soar On News It Will Join S&P 500
Shares of Match Group rose more than 8% after hours, following news that the company is joining the S&P 500. As of Sept. 20 the online-dating company will replace Perrigo…
Increasing Spending: FG’s Three-Year Deficit Hits N15.4tn Amid Revenue Crisis
Within a three-year period covering July 2018 to June 2021, the Federal Government recorded a fiscal deficit of N15.35tn, statistics obtained from the Budget Office of the Federation have shown.…
Stock Market Halts Losing Streak, Investors Gain N35bn
Investors in the equities market of the Nigerian Exchange Limited gained N35.44bn fueled by buyer interest in large-cap stocks on Thursday after three consecutive days of losses. The NGX All-Share…
Vodafone UK Refarms Block of 900MHz For 4G Use; Claims Breakthrough On Energy Consumption In 5GB
British mobile network operator (MNO) Vodafone UK has announced it is undertaking a project aimed at making ‘the best and most efficient use of spectrum and energy resources’, with it…
Webuild Wins €1.26bn Contract To Build Self-Driving Highways
A consortium led by Italian builder Webuild has won a €1.26bn contract to design and build two sections of the Pedemontana Lombarda Highway in northern Italy, which will have technology…
LinkedIn Is Shutting Down Its Stories Feature To Work On Short-Form Video
Linkedin announced that that it will suspend its Stories feature on September 30 and begin working on a different way to add short-form videos to the platform. The story feature…
President Buhari Finally Receives NDDC Forensic Audit Report
President Muhammadu Buhari on Thursday received the final report on the forensic audit report of the Niger Delta Development Commission (NDDC) from the Minister of Niger Delta Affairs, Godswill Akpabio.…
External Reserves Hit Two-Month High, as Naira Plunges Further
Nigeria’s foreign reserves have hit a two-month high, data released by the Central Bank of Nigeria (CBN) have shown. Sadly, the naira yesterday plunged to a new low at the…
VAT ‘War’ Between FIRS, States Leaves Businesses Confused
Taxpayers and business owners are scratching their heads over the authority to remit Value Added Tax (VAT), as the Federal Inland Service (FIRS) and state governments lay claim to the…
Nigeria Govt Unveils Two Aircraft For Data Collection
The Federal Government has unveiled two aircraft earmarked for Airborne Geophysical Survey activities to enhance mining data collection in Nigeria. Speaking during the inspection of two survey aircraft at the…
Nigeria: SEC Six-Month Expenses Outstrip Revenue By N1.65bn
The Senate on Thursday, raised the alarm that the Security and Exchange Commission, was gradually becoming insolvent and could go bankrupt very soon. The red chamber gave the verdict when…
Nigeria: Senate Fear SEC May Liquidate By 2023
The Senate, yesterday, expressed apprehension that the Security and Exchange Commission (SEC) could become liquidated by 2023, following revelations by its Director General (DG), Lamido Yuguda. The DG disclosed that…
NEITI, ICPC Sign MoU To Curb Illicit Transactions
The Nigeria Extractive Industries Transparency Initiative on Thursday signed a Memorandum of Understanding with the Independent Corrupt Practices and Other Related Offences Commission on monitoring illicit transactions in the oil…
Property Market on Steroids’: Asia-Pacific’s Real Estate Boom Sees Buyers Bidding Up Prices
Housing prices have shot up across cities in Asia-Pacific this year, fueled by record low interest rates amid the pandemic. Optimism has also gained steam as vaccination rates gain pace,…
Discos Paid N26.81bn For Electricity In June – NBET
The Nigerian Bulk Electricity Trading Plc has revealed that market receipts remitted by Distribution Companies in June 2021 amounted to N26.81bn. NBET also disclosed in a statement issued on Thursday…
Twitter Ban Remains, Says NCC As Nigerians Lose N220.36bn
The Twitter ban in Nigeria is still in effect according to the Director, Public Affairs, Nigerian Communications Commission, Dr Ikechukwu Adinde. Adinde said that there had been no communications from…
Naira Sinks To 530 Against Dollar, Pound Hits N720
The naira plunged to a fresh record low against the dollar, the British pound sterling and euro on Thursday amid the lingering scarcity of foreign exchange in Nigeria. The value…
European Stocks Muted As Markets Monitor Key Economic Data
European markets were fractionally lower on Friday morning as investors awaited key economic indicators out of the euro zone and the U.S. The pan-European Stoxx 600 slipped 0.2% in early…
China’s Stock Trading Volume Surges Above 1 Trillion Yuan For Weeks As Other Investment Options Dry Up
Chinese investors are turning to the local stock market as once-lucrative options like real estate and cryptocurrencies have fallen under tighter government scrutiny. Since late July, daily trading volume in…
China’s Tech Giants Pour Billions Into Xi’s Vision Of ‘Common
Alibaba will invest 100 billion yuan ($15.5 billion) over the next few years into “common prosperity” initiatives, joining a chorus of technology giants pouring money into President Xi Jinping’s goal…
U.S. Weekly Jobless Claims Fall; Layoffs At 24-Year Low
The number of Americans filing new claims for jobless benefits fell last week, while layoffs dropped to their lowest level in more than 24 years in August, suggesting the labor…