Real Time Financial News Website
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that the total gas flare penalties collected from oil and gas companies between January 2023 and the present date amount to $85.1…
Three major cement-producing companies in Nigeria, including Dangote Cement, Lafarge Africa, and BUA Cement, struggled to generate a marginal 2.5% increase in profits, reaching N277.7 billion in the first half…
Nigeria is reportedly facing significant losses of approximately $15 billion annually due to congestion and various maritime-related issues at the nation’s seaports. These challenges, including gridlock, multiple taxation, delays, cargo…
Petroleum engineers in Nigeria have voiced concerns over the decline in crude oil exports, attributing it to the ongoing security challenges surrounding oil pipelines. Despite ongoing oil exploration efforts, many…
Amidst an unfavorable business climate in Nigeria, foreign investments in the manufacturing sector saw a sharp decline of 51% in 2022, totaling $978.31 million, compared to $2 billion in 2021.…
M4A (Pty) Ltd, an Original Equipment Manufacturer (OEM) specializing in various products, including passive network infrastructure for fibre networks and civil engineering solutions, has attracted a private equity partnership from…
As Africa’s youth population grows, entrepreneurs are urged to develop healthcare solutions catering to the continent’s future medical needs. However, women’s health, a category that addresses menstrual and reproductive health,…
The Save Nigeria Movement (SNM) has called on the Central Bank of Nigeria (CBN) to compensate Nigerians with the sum of N2 trillion for the consequences of the extended naira…
The Economic Community of West African States (ECOWAS) has demanded the full restoration of constitutional order in Niger following the coup in the country. If the demands are not met…
The Nigerian Exchange Limited witnessed a slowdown in bullish trading last week, resulting in a modest gain of N8 billion for investors. Market capitalization started the week positively at N35.539…
Infrastructure investor, Meridiam, has successfully concluded the acquisition of Rift Valley Energy Tanzania (RVE), an infrastructure platform with a 30-MW renewables portfolio and rural distribution grids in Tanzania. The purchase…
Infra Impact Investment Managers Successfully Closes Mid-Market Infrastructure Fund Infra Impact’s Mid-Market Infrastructure Fund 1 has achieved a remarkable milestone by surpassing its fundraising target, securing R2.15 billion ($115 million)…
The Central Bank of Nigeria (CBN) has reported achieving a financial inclusion rate of 64.1%. The CBN aims to raise financial inclusion to 95% by 2024, with a new financial…
The amount paid on rentals for Sukuk bonds in Q1 2023 was N8.17bn, which remained unchanged from the same period in 2022, according to the Debt Management Office’s analysis. Sukuk…
Currency outside banks reached N2.26tn at the end of June 2023, a significant increase of 185.68% from N792.18bn in January 2023. Currency in circulation in the country rose by 87.05%,…
International market data reveals that the price of Brent crude oil has increased by 20%, signaling a potential further rise in petrol prices. At the beginning of 2023, Brent crude…
Uniterm Nigeria Limited files a winding-up petition at the Federal High Court in Lagos against Oriental Energy Resources Limited over an alleged debt of $1,453,356.76. Despite repeated calls and demands,…
Stakeholders reveal that Nigeria is losing approximately N200bn monthly due to inadequate bunkering activities in the country. The President of Nigeria’s Licensed Ship Chandlers Association, Dr Martin Enebeli, emphasizes the…
The Nigeria Employers Consultative Association (NECA) issues a warning that inflation could reach 25% by the end of 2023 if not controlled. NECA expresses concern over the recent decision by…
Kaspersky reports a 7% year-on-year increase in ransomware attacks in Nigeria during the first half of 2023. Ransomware remains a major global threat to information security, with attackers targeting various…
Brent crude oil, the international benchmark, surged to $84/barrel on Wednesday, raising concerns about a possible increase in the pump price of petrol in Nigeria. Oil marketers attribute the potential…
Investors bid N384 billion worth of one-year treasury bills at a rate of 12.15%, but only N255 billion was allotted due to oversubscription in the latest auction on 26th July…
Nigeria’s Debt Management Office (DMO) expects improvements in government revenues through the work of the Committee on Revenues set up by the president. Recent policies, such as the removal of…
The Central Bank of Nigeria (CBN) has restated its commitment to gradually replace the old N200, N500, and N1,000 naira notes with new currencies. The former CBN governor had unveiled…
The International Monetary Fund (IMF) has forecasted a decline in Nigeria’s economic growth in 2023 and 2024, attributed to security issues in the oil sector. The IMF’s latest report predicts…
Skyway Aviation Handling Company (SAHCO) Plc’s Q2 2023 unaudited results show a remarkable 215.60% increase in pre-tax profits, reaching N1.38 billion. The company generates its revenue primarily from foreign and…
A survey by the CFA Institute, a global association for finance professionals, indicates that only 42% of respondents believe central bank digital currencies (CBDCs) should be launched. Many respondents, particularly…
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to increase the benchmark interest rate by 25 basis points to 18.75 per cent. The Acting…
The Federal Competition and Consumer Protection Commission (FCCPC) has issued a warning to point of sales (PoS) operators, particularly in Lagos, about engaging in price-fixing or forming cartels. The Commission…
During the 17th Annual Business Law Conference of the Nigerian Bar Association Section on Business Law (NBA-SBL) in Lagos, experts in the Nigerian technology ecosystem emphasized the importance of government…