Dangote Cement, MTN, and Others’ OPEX Reached N1.01 Trillion in Q1 as Inflation and FX Scarcity Persisted.
Due to double-digit inflation, a foreign exchange shortage made worse by the general elections, and the slow expansion of the…
Author: akintunde
Oil prices stay constant as US reserves increase.
Brent crude increased 2 cents, or 0.7%, to $74.42 a barrel on the futures market. The price of West Texas…
Concessionaire would contribute N5.3 billion to eCRVS, claims FG.
The concessionaire, Messrs Barnksforte Technologies Limited, has informed the Infrastructure Concession Regulatory Commission (ICRC) that N5.3 billion in private funds…
ETI Shareholders Approve Exercise to Raise $500 Million in Capital.
The resolution authorizing the issuance of additional Tier 1 and Tier 2 qualifying subordinated debt as well as senior ranked…
The appeals court suspends the Seplat board’s order.
The Abuja-based Court of Appeal has overturned a ruling that prevented the Board of Directors of Seplat Energy from carrying…
According the CBN, bank assets have increased to N78 trillion.
By the end of February 2023, the total assets of the Nigerian banking sector had increased by 25.12% over the…
Port operators contributes $440 million to Apapa ports.
According to APM Terminals, it has invested about $440 million in the Apapa ports since the port concession in 2006…
According to NSC, demurrages cost N2.7bn in the past two years.
The Nigerian Shipper’s Council said that between 2020 and 2022, it saved a staggering N2.7 billion. The fund might have…
IMF recommends the lowering of trade restrictions in Africa.
According to the International Monetary Fund, removing trade restrictions between African nations will assist 50 million people escape poverty. The…
Net FX inflow fell to $72 billion in 2022, according to CBN.
The Central Bank of Nigeria (CBN) reported that the country’s net total foreign exchange (FX) inflow closed at $72.4 billion…
Cane Integrated Investment Ltd Partners with NYSC on Investment Literacy and Financial Planning.
The investment and financial advisory firm, Cane Integrated Investment Limited on Wednesday, May 10, 2023 visited the NYSC Lagos State…
KBL Insurance has been awarded ISO 9001: 2015 certification.
KBL Insurance Limited, a supplier of general insurance products, announced that it has achieved ISO 9001:2015 certification. According to the…
The Senate has approved the N876 billion NDDC 2023 budget.
The Niger Delta Development Commission (NDDC) budget for 2023 was approved by the Senate, reaching N876 billion. A total of…
RT200 Increases Non-Oil Exports.
In an effort to boost non-oil foreign exchange earnings in the country, the Central Bank of Nigeria (CBN) launched the…
USSD debts: Telcos may charge customers for bank transfers.
Banks and telcos have been at odds over N120 billion in USSD debts, which the former has refused to pay…
The weakened naira is increasing Nigeria’s governmental debt, according to the IMF.
According to the International Monetary Fund, weaker currencies in Nigeria and other Sub-Saharan African countries are increasing state indebtedness. Sub-Saharan…
Manufacturers have threatened to go on strike in response to an increase in excise duties.
According to the Manufacturers Association of Nigeria, the recent rise in excise duty on beverage and tobacco goods will cause…
Tinubu is advised by the FG to strengthen anti-corruption authorities.
The Federal Government recommended President-elect Bola Tinubu’s incoming administration to boost anti-corruption and reform-minded institutions in order to successfully contribute…
Policy inconsistency and economic issues influencing food security – FG.
The Federal Government declared that policy inconsistency, insecurity, economic uncertainty, and rising oil costs, among other things, were threatening Nigerian…
Nigeria requires $12 billion to clean up oil spills in Bayelsa.
A new assessment claims that Nigeria needs $12 billion to clean up decades-old oil spills in southern Bayelsa state over…
May 29 – IGP Issues Warning Against Attempt to Cancel Inauguration.
Ahead of the inauguration of the President of the Federal Republic of Nigeria and other elected government officials around the…
The $1.3 billion Zungeru Hydroelectric Plant has been completed and is ready for commissioning.
Abubakar Aliyu, Minister of Power, has announced that the 700 megawatt Zungeru Hydroelectric Power Project has been finished, emphasizing that…
The United States imposes a visa ban on Nigerians who disrupted the 2023 elections.
The United States declared that it had taken efforts to enforce visa bans on individuals who interrupted Nigeria’s recent general…
The Federal Government spends N13 trillion on subsidies and establishes removal standards.
The Federal Government said it was working on a thorough roadmap for Bola Tinubu’s upcoming administration on how to handle…
Nigerian inflation accelerates in April as food prices rise.
The National Bureau of Statistics said that Nigeria’s annual inflation jumped to 22.22% in April, up from 22.04% the previous…
Khulisani Ventures of MIC invests in Quro Medical.
MIC has invested R25 million in the firm, which is revolutionizing the way healthcare is delivered in South Africa, through…
Aveng obtains debt financing for Trident Steel Africa.
Aveng Infrastructure and Resources has finalized the sale of Trident Steel, a steel solutions company, for R1.22 billion. With the…
Three African investment managers have been awarded a Visa and an AWIF grant for entrepreneurship.
The African Women Impact Fund Initiative (AWIF), a collaboration between Standard Bank and the United Nations Economic Commission for Africa…
STOA Set to Buy a Minority Stake in Morocco’s Building Logistics.
STOA, a subsidiary of the French deposit and consignment fund CDC, announced a MAD330 million ($32.9 million) transaction on Tuesday…
Cook-a-thon: Why Guinness World Records hasn’t verified Hilda Baci’s victory
A world culinary record was successfully broken by Nigerian chef Hilda Baci, and the Guinness Book of Records has recognized…