Nigeria, Germany target over $500mn in energy deals in 2024
Nigeria and Germany plan to surpass last year’s $500 million in energy deals by targeting even larger agreements in 2024.…
Author: ayotilewa
Nigerian oil grades maintain premium status, Cast light on economy
Nigeria’s Brass River, Bonny Light, and Qua Iboe crude oils have surged above the Brent Crude benchmark due to supply…
BREAKING: Currency outside bank drops to N3.66 trillion in July, biggest fall in 2024
In July 2024, the amount of currency outside Nigeria’s banking system decreased to N3.66 trillion, marking a 3.32% drop from…
EKEDC disconnects power supply from UNILAG
Eko Electricity Distribution Company (EKEDC) has disconnected the University of Lagos (UNILAG) from the power supply because of unpaid electricity…
Nigeria, Belgium deepen bilateral ties
The Nigerian Ports Authority (NPA) and the Kingdom of Belgium have agreed to strengthen their bilateral relationship to boost efficiency…
Nigeria, Benin Republic open dry port trade office in Kano
Nigeria and Benin Republic have jointly opened the Tsamiya Dry Port Trade Office in Kano State to enhance regional trade…
Elumelu: Tenure limit for bank CEOs inspired Heirs Holdings formation
Tony Elumelu, Chairman of Heirs Holdings Group, revealed that the Central Bank of Nigeria’s (CBN) 2010 policy limiting bank CEOs’…
Govt sets Sept 14 deadline for SIM-NIN linkage
The Nigerian Communications Commission (NCC) has announced a new deadline for all mobile subscribers to link their SIM cards with…
Gas suppliers seek end to multiple taxation
The National Oil and Gas Suppliers Association of Nigeria (NOGASA) has called on the Federal Government to tackle the issue…
NEPC reports $2.7bn in non-oil exports half year 2024
Nigeria’s non-oil exports generated $2.7 billion in the first half of 2024, reflecting a 6.26% increase from the $2.5 billion…
TGI Foods SPV launches N25bn commercial papers
TGI SPV Plc, a special purpose vehicle created by Tropical General Investments Group, has launched N25 billion in Series 1…
Without structural gaps, Nigeria’s GDP will grow by 5% – IMF
*The International Monetary Fund (IMF) stated that Nigeria’s economy, currently growing at 3.19%, could reach a 5% growth rate by…
External auditors to examine NNPC N2.6tn subsidy claim
The Federal Government of Nigeria is set to hire an external auditor to verify the N2.7 trillion fuel subsidy claim…
Reps promises to pass bill on electricity theft
The Chairman of the House of Representatives Committee on Privatisation and Commercialisation, Hamisu Ibrahim, announced plans to collaborate with other…
AMCON set to sell Ibadan Disco
The Assets Management Corporation of Nigeria (AMCON) plans to sell the Ibadan Electricity Distribution Company (IBEDC) to investors capable of…
Recapitalisation: ASHON accuses banks of sidelining stockbrokers
The Association of Securities Dealing Houses of Nigeria (ASHON) has accused banks of bypassing licensed stockbrokers in the ongoing bank…
Zuckerberg says Biden administration pressured Meta to censor COVID-19 content
Meta CEO Mark Zuckerberg has stated that senior officials from the Biden administration pressured his company to censor certain COVID-19…
Canada to impose 100% tariff on Chinese EVs, including Teslas
Canada has announced plans to impose a 100% tariff on imports of Chinese electric vehicles (EVs) and a 25% tariff…
UBS Wealth Management raises odds of U.S. recession to 25% from 20%
UBS Global Wealth Management has increased the likelihood of a U.S. recession to 25% from 20%, pointing to a weakening…
US to award HP $50 mln for semiconductor tech project
The U.S. Commerce Department announced plans to award $50 million to HP to expand and modernize its existing facility in…
Sony to raise PlayStation 5 price by 20% in Japan
Sony announced a 20% price increase for its PlayStation 5 (PS5) console in Japan, citing global economic fluctuations and a…
Stock deals jump 44% on banks’ recapitalisation
In the first seven months of 2024, Nigerian equities market transactions increased by 44% compared to the same period in…
Naira closes at 1,596.60/$ as dollar liquidity declines
The naira closed at N1,596.60 per dollar on Monday, marking a 1.66% depreciation from Friday’s rate of N1,570.14 at the…
Divestment of NAOC to Oando in line with PIA, says NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that the recent approvals for Nigerian Agip Oil Company’s (NAOC) divestment…
Africa Prudential grows profit by 87% to N1.1b in first half
Africa Prudential Plc has reported an impressive 87% increase in profit for the first half of 2024, reaching N1.13 billion,…
Richway Microfinance Bank Receives DBN’s Award for Highest Impact on Start-Ups
Richway Microfinance Bank has been honored with the 2023 Award for Microfinance Bank with the Highest Impact on Start-Ups by…
CBN lifts suspension on Standing Lending facility
The Central Bank of Nigeria (CBN) has lifted the suspension on the Standing Lending Facility (SLF), allowing banks to borrow…
FG spending exceeds revenue by 225% — BudgIT
A report by BudgIT has revealed that the Nigerian government spent N19.50 trillion in 2023, three times its revenue of…
198 Extractive Companies and Agencies Submit Data for NEITI’s 2022/2023 Revenue Audit
The Nigerian Extractive Industries Transparency Initiative (NEITI) has received data submissions from 198 extractive companies and government agencies for its…
Oando acquisition of Agip followed due process – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that Oando Plc’s acquisition of Nigeria Agip Oil Company (NAOC) complies…