Real Time Financial News Website
The Nigerian National Petroleum Company Limited (NNPCL) announced a remarkable profit of N2.548tn in 2022, marking its “highest profit since inception.” Established in 1977, NNPCL is a state-owned oil corporation…
Kaduna Electricity Distribution Plc has welcomed Mr Umar Hashidu as its new Chief Executive Officer (CEO), following the recent resignation of Yusuf Yahaya. The handover ceremony, which occurred at the…
The World Bank’s January 2024 Global Economic Prospects report predicts a return of Nigeria’s per capita income to pre-pandemic levels by 2025. Per capita income, measuring average earnings per person,…
The National Agency for Science and Engineering Infrastructure (NASENI) has inked multibillion-dollar Memoranda of Understanding (MoUs), both new and revived, with international technical partners. These agreements encompass the establishment of…
Nigerian customers continue to face challenges in accessing cash, leading to increased reliance on high-cost PoS services. Despite the Central Bank of Nigeria’s (CBN) assurance of sufficient currency stock, reports…
The Presidency has clarified that the departure of the heads of the Bureau of Public Enterprises (BPE) and the Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Irukera and Alexander…
Football fans are expressing shock and disappointment as StarTimes announces a 15% increase in subscription prices just days before the 2023 African Cup of Nations (AFCON) begins in Ivory Coast.…
In the battle against counterfeit drugs and unwholesome products in the Nigerian market, the National Agency for Food and Drug Administration and Control (NAFDAC) has revealed four crucial ways for…
Foreign investments in Nigerian startups experienced a significant decline, falling by 65.83% year-on-year to $410 million in 2023, down from $1.2 billion in 2022. This decline has caused Nigeria to…
United Bank for Africa (UBA) achieved a significant milestone as its market capitalization surpassed the N1 trillion mark on the Nigerian Exchange Limited. Closing at N1.022 trillion on Monday, the…
The Nigerian Exchange Limited’s bullish run continued into its seventh day on Monday, yielding a daily gain of N365 billion and an impressive compound gain of N3.5 trillion since the…
The Africa Stablecoin Consortium has officially postponed the launch of its cNGN stablecoin, originally scheduled for February 27, 2024. The consortium, comprising Pan-African banks, fintechs, and blockchain businesses, addressed earlier…
The United Nations, in its ‘World Economic Situation and Prospects 2024’ report, has revealed that Nigeria faces downward risks to its growth prospects. Despite recent government reforms, including those in…
The Dangote Petroleum Refinery announced its imminent entry into refined petroleum production as it received the 6th batch of one million barrels of crude oil, a crucial requirement for its…
The Nigerian Communications Commission (NCC) has issued a public notice indicating its intent to bar Globacom customers from making calls to MTN lines due to an alleged non-settlement of interconnect…
The Nigerian Electricity Regulatory Commission (NERC) announced the dissolution of the board of directors of Kaduna Electricity Distribution Company on Monday, citing the Disco’s inability to settle a N110 billion…
A report titled “In Pursuit of Value,” by KPMG reveals a significant drop in the weekly usage of Automated Teller Machines (ATMs) from 70% to 40% due to the scarcity…
The Manufacturers Association of Nigeria (MAN) has strongly criticized the armed invasion of Dangote Industries Limited by operatives of the Economic and Financial Crimes Commission (EFCC) in connection to the…
In the last three months, the Nigerian naira has lost nearly 39% of its value against the US dollar, dropping from N745.19/$ to N1035.12/$ at the official I&E window of…
The Central Bank of Nigeria (CBN) has announced its commitment to settling pending obligations and boosting the functionality of the foreign exchange market. The CBN Acting Director of Corporate Communications,…
“A recent report titled ‘Global Petrol Prices, Octane-95, January 1, 2024,’ on global gasoline prices reveals that Nigeria ranks 22nd globally for having one of the cheapest petrol prices. The…
Major consumer goods companies, including Cadbury, Guinness Nigeria, and Nestle, faced a collective loss of N472.3 billion due to naira depreciation in the first nine months of 2023, according to…
The global premium smartphone market, featuring devices with a wholesale price of $600 or more, is projected to grow by six percent in 2023, setting a new sales record, as…
Facility maintenance in Nigeria’s healthcare and tertiary education sectors is facing significant challenges, according to Paul Erubami, the President of the Association of Facilities Management Practitioners, Nigeria (AFMPN) and CEO…
“”Nigeria is set to launch a highly anticipated reform with the automation of the passport application and issuance process starting today. The Minister of Interior, Olubunmi Tunji-Ojo, announced the commencement…
“Millions of bank accounts face the risk of being blocked as the deadline approaches for linking them to either a Bank Verification Number (BVN) or National Identity Number (NIN). The…
“Nigeria’s public debt is set to see an over eightfold increase in the next decade, surging to about N95trn. Including a Central Bank loan approved for securitization by President Bola…
Nigeria faced economic challenges in 2023, with a sharp rise in inflation to 28.9% and soaring energy costs. President Bola Tinubu’s fuel subsidy removal announcement in May led to a…
The National Assembly is once again investigating the persistent problem of crude oil theft, a challenge that has not been effectively addressed in past probes. Despite promises from lawmakers, concerns…
The Nigerian National Petroleum Company (NNPC) Limited has assured the public that there won’t be an immediate increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.…