FG Clears $850m Debt To EU Airlines
The Nigerian government has cleared a backlog of debts amounting to $850 million owed to European airlines, as announced by…
Author: ayotilewa
FAKE NEWS ALERT: No Explosion At Zungeru Hydroelectric Dam, Say ED, Police
Siraj Abdullahi, executive director of the Zungeru hydroelectric dam in Niger state, refuted reports of an explosion at the facility.…
Adefeko Calls For Urgent Action To Address Food Insecurity
Ade Adefeko, director of corporate and regulatory affairs at Olam Agri, has called for urgent measures to address Nigeria’s worsening…
Senate Passes Bill To Allow Foreigners In Nigeria Obtain NIN
The Nigerian Senate has passed a bill for a second reading that proposes granting all persons, including foreigners residing in…
Dangote Refinery Begins Gasoil Exports To West African Countries, As Imports From Europe Decline
Aliko Dangote, Chairman of the Dangote Group, strongly criticized the Central Bank of Nigeria (CBN) for increasing the interest rate…
China’s BYD posts 21% jump in quarterly EV sales, closes gap with Tesla
China’s BYD reported a 21% increase in electric vehicle (EV) sales for the second quarter, bringing its total to 426,039…
Air Canada to Receive 8 Boeing 737 MAX 8 Jets from BOC Aviation
Air Canada announced on Tuesday an agreement to receive eight Boeing 737 MAX 8 jets from lessor BOC Aviation. These…
South African rand extends losses, focus on unity government’s reforms
The South African rand continued its decline on Tuesday, trading at 18.6325 against the dollar, a 1.5% drop from the…
Biden revoked 8 licenses for China’s Huawei in 2024, document shows
In 2024, the Biden administration revoked eight more licenses that previously allowed U.S. companies to supply goods to Chinese telecom…
US job openings increase; trend still slowing
In May, U.S. job openings increased by 221,000 to 8.140 million, indicating a modest rebound following significant declines in the…
Nigeria Air Project Remains Suspended Pending Presidential Decision
The Nigerian government’s Nigeria Air project remains suspended as Minister of Aviation and Aerospace Development, Festus Keyamo, awaits President Bola…
Stanbic, Citibank, Rand lead $1bn capital importation
In the fourth quarter of 2023, Nigeria saw a 2.62% increase in capital importation, reaching $1.09 billion, compared to the…
Nigeria’s N121.6trn Debt Exceeds 50% GDP
PricewaterhouseCoopers International Limited (PWC) has reported that Nigeria’s public debt soared to N121.67 trillion in the first quarter of 2024.…
Credit to government rises by 42% to N28.4trn
Credit to the Nigerian government experienced a substantial month-on-month increase of N8.4 trillion, rising by 42 percent to N28.4 trillion…
Australia raises international student visa fees by 225% to prevent migration
Australia has significantly increased student visa application fees from $710 to $1,600, effective July 1, 2024, marking a 225% hike.…
Best performing stocks in the NGX in the first half of 2024
The Nigerian Exchange (NGX) achieved a significant growth of 33.81% in the first half of 2024, with the All-Share Index…
Coronation Insurance posts 192% profit growth in 2023
Coronation Insurance Plc has reported an impressive year-on-year profit growth of 192% for the fiscal year 2023. According to the…
Nigeria’s telecom sector attracts $191.5 million FDIs in Q1 2024 – NBS
Nigeria’s telecommunications sector attracted $191.5 million in Foreign Direct Investments (FDIs) in Q1 2024. According to the National Bureau of…
Dangote refinery begins gasoil exports to West African countries, as imports from Europe decline
Nigeria’s new Dangote oil refinery is increasing gasoil exports to West Africa, capturing market share from European refiners. The $20…
World Bank Restructures Nigeria Digital ID Project to Ensure $430 Million Funding
The World Bank is restructuring Nigeria’s Digital Identification for Development (ID4D) project to secure the full $430 million pledged by…
Toyota to launch three electric vehicles in Nigeria
Toyota Nigeria Limited (TNL) announced plans to introduce three electric vehicles in Nigeria over the next three years. This aligns…
New Minimum wage may push states into bankruptcy — NGF report
The implementation of a new minimum wage in Nigeria is facing roadblocks. While President Tinubu has promised to send a…
NESG Backs CBN’s Stoppage Of Price Verification System On FX
The Nigerian Economic Summit Group (NESG) is praising the Central Bank of Nigeria’s (CBN) decision to eliminate the Price Verification…
MRS Nigeria Delisted from the Nigerian Stock Exchange, Eyes OTC Market
MRS Nigeria Limited, an oil marketing firm, has received shareholder approval to voluntarily delist its shares from the Nigerian Exchange…
MTN To Construct West Africa’s Largest Data Centre
MTN Nigeria is building the largest data center in West Africa, a signficant development for the country’s digital landscape. This…
Nigeria Removes 5 Oil Blocks from Licensing Round Due to Legal Issues
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has removed five (5) oil blocks from the ongoing 2024 Licensing Round because…
Russia’s VTB bank says US sanctions have complicated cross-border transactions
The recent U.S. sanctions on Moscow have significantly affected Russian banks, including VTB, Russia’s second-largest lender. Dmitry Pyanov, VTB’s finance…
Ackman’s Pershing Square USA to offer shares at $50 in NY listing
Pershing Square USA, managed by billionaire Bill Ackman, is preparing for its initial public offering (IPO) on the New York…
Aircraft delivery delays having ‘brutal’ impact on Lufthansa, says CEO
Carsten Spohr, CEO of Lufthansa (LHAG.DE), revealed at a business press club in Stuttgart that ongoing aircraft delivery issues are…
Italy claims 1 billion euros in unpaid taxes from Google
Italy is seeking 1 billion euros ($1.07 billion) from Google in unpaid taxes and penalties, according to three sources familiar…