Nigeria: ICT Sector Contributes N5.5tn To GDP In Six Months
The Information, Communication and Technology sector contributed N5.5tn to real Gross Domestic Product in the first half of 2021. This…
Category: Africa
Google Restores Crowwe App On Playstore After Major Improvement
Nigeria’s social media network Crowwe is back on the Play Store and App store for both android and IOS mobile phone…
Nigeria: TikTok Bans Viral Milk Crate Challenge Over Safety Concerns
TikTok has banned the popular “milk crate challenge” from its platform due to concerns that users participating in the trend…
6 Years After Selling Stakes In Dangote Flour Mills, Tiger Brands Agrees To Divest From UAC Foods
Tiger Brands, a South African food company, has reached an agreement with UAC of Nigeria Plc (UACN) to sell its…
Atedo Peterside Doubts Nigeria’s NNPC N287bn Profit, Challenges Corporation
Founder of IBTC Stanbic Bank, Atedo Peterside, has challenged the Nigerian National Petroleum Corporation to clarify allegations that it dipped…
Nigeria: NGX Creates Hybrid Market, Access To Capital Via Bonds
It is believed that the short term funding profile of the money market makes it unsuitable for project infrastructure investment…
Nigeria: Forex Transactions At Investors, Exporters’ Window Rise 59.37%
Foreign exchange transactions at the Investors’ & Exporters window increased by 59.37 per cent last week, according to FMDQ Securities…
Nigeria: Exchange, NGCL To Create Standardised Derivatives Market
Ahead of the planned launch of Exchange Traded Derivatives (ETDs) in the Nigerian capital market, the Nigerian Exchange Limited (NGX)…
South Africa’s Massmart To Dispose 14 Game Stores In Nigeria, Ghana, Others
Massmart is disposing of all its general merchandise Game stores in West and East Africa as the Walmart majority-owned retailer…
Investments In 4G Drops 7 Percent As NCC Assures Of 5G Deployment
Investments in Fourth Generation (4G) in Nigeria and Africa dropped by seven per cent in 2020, the International Telecommunications Union…
Nigeria: FG to Pay Arrears of Minimum Wage To Varsity Staff October
The federal government has given an undertaken to clear the arrears of the consequential adjustment on the new minimum wage…
Nigeria: Elevated CRR Level Moderated Banking Industry’s Performance, Liquidity Position In FY 2020
The Nigerian banking industry would have recorded a return on average equity (ROE) of 31.6 per cent if not for…
Nigeria:CIBN Canvasses Tax Expansion To Improve Revenue
The Chartered Institute of Bankers of Nigeria (CIBN), Lagos State chapter has suggested the restructuring of existing systems for tax…
Nigeria’s GDP Grows Further By 5.01% In Q2 2021
Nigeria’s Gross Domestic Product (GDP) grew by 5.01% (year-on-year) in real terms in the second quarter of 2021, marking three…
Nigeria: Troubles Ahead, Experts Warn As Debt Servicing Gulps 91% Of Revenue
The Federal Government spent N2.02tn on debt servicing in the first six months of this year. This figure represents 90.58…
Nigeria: NNPC Records N287bn As 2020 PAT
President Muhammadu Buhari, has announced a N287 billion profit after tax for the Nigerian National Petroleum Corporation (NNPC) in the…
Nigeria:Stock Market Rebounds As Capitalisation Rises By N15 Billion
As price gains outweighed losses, transactions on the equities sector of the Nigerian Exchange Limited (NGX) closed in an upbeat…
Telecoms: Nigeria’s Data Usage Rises By 202% In Three Years
Data usage in Nigeria surged by 202.08 per cent in three years, according to data from the Nigerian Communications Commission.…
Nigeria: Importation Of Petroleum Products Will Soon Be Over
Nigerian National Petroleum Corporation (NNPC), yesterday, assured Nigerians that the importation of petroleum products into the country would soon be…
Nigeria: Stakeholders Proffer Solution To Better Intra-African Trade
As Africa gears toward the implementation of the African Continental Free Trade Area (AfCFTA) agreement, stakeholders at a virtual event…
Nigeria: CBN Threatens Prosecution Of Forex Policy Defaulters
Banks have warned that defaulters of the new foreign exchange policy may face criminal prosecution by the Central Bank of…
Nigeria: At N513m, Securities Lending On NGX Hits Historical Record
The Nigerian Exchange (NGX) Limited has disclosed that value of Securities Lending market increased to N513million as at 20 August…
South Africa Rebases GDP, Revises Economic Growth Figures
South Africa has rebased its gross domestic product (GDP) survey, with the new data showing the economy was 11% bigger…
Ghana’s Currency Heads For Weakest-Ever Close Vs Dollar
The biggest injection of dollars yet by Ghana’s central bank failed to stem the cedi’s slide on Wednesday amid a…
Nigeria: Globacom Redefines TV Viewing With Glo TV Launch
In a bold step to redefine television viewing experience for all Nigerians, Globacom has announced the launch of Glo TV, an innovative TV streaming…
Nigeria: FG, States, LGAs To Get New Revenue Formula This Year –RMAFC
Twenty-eight years after the last revenue sharing formula was introduced, the Chairman of Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mr…
Nigeria: FG Releases N1.3trn To Fund 2021 Capital Budget
The federal government has released N1.3 trillion to fund part of the 2021 capital expenditure budget of its Ministries, Departments…
Nigeria: Reps Direct PPPRA To Produce Consumption, Revenue Remittances Records
The House of Representatives committee on Finance has directed the Pipeline Products Pricing Regulatory Agency (PPPRA) to reconcile its daily…
Nigeria: Ending Subsidies Puts Nigeria On Fiscal Sustainability Path
A former Governor of the Central Bank of Nigeria (CBN) and a former Emir of Kano, Sanusi Lamido Sanusi, has…
Nigeria: Facebook Extends Marketplace Initiatives To 37 SSA Countries
Facebook has extended its marketplace initiatives to 37 countries and territories in sub-Saharan Africa. Already available in South Africa, Ethiopia,…