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Business
Nigeria Sees Record $57 Billion in FX Inflows by August 2024
Foreign exchange inflows to Nigeria have reached an impressive $57 billion as of August 2024, according to the…
IMF Urges Nigeria to Enhance Tax Collection for Improved Revenue Generation
The International Monetary Fund (IMF) has advised the Nigerian government to implement a more effective tax…
Dangote Refinery Begins Direct Petrol Supply Amid Rising Imports
The Dangote Petroleum Refinery has commenced direct sales of Premium Motor Spirit (PMS), or petrol, to various oil…
First Bank fixes October 26 for system migration
First Bank has announced plans to migrate to a new cloud-based procurement and financial platform, aiming to…
Mainpower DisCo takes over electricity distribution in Enugu State
Mainpower Electricity Distribution Limited, a subsidiary of the Enugu Electricity Distribution Company (EEDC), has…
U.S. And Nigeria Launch Cryptocurrency Crime Task Force
The U.S. Department of Justice and the Nigerian government have established a Bilateral Liaison Group to address…
Insurance Industry Key to Nigeria’s Economic Transformation, NIA Chairman
The Chairman of the Nigerian Insurers Association (NIA), Mr. Kunle Ahmed, emphasized the critical role that the…
Protesting staff’s request beyond NAFDAC – Consultant
The ongoing strike by the National Agency for Food and Drug Administration and Control (NAFDAC) employees,…
Forex crisis stalls Nigeria’s participation in $3.4tn AFCFTA – Exporters
Four months into Nigeria’s participation in the African Continental Free Trade Area (AfCFTA) under the Guided…
Discos responsible for phased-out meters replacement – FCCPC
The Federal Competition and Consumer Protection Commission (FCCPC) has established that power distribution…
BPP seeks to amend procurement law to boost local manufacturing
The Bureau of Public Procurement (BPP) is taking steps to amend the Public Procurement Act (PPA) of 2007, aiming…
Oando hails regulators for taking crucial decisions to improve energy sector
Oando Plc, Nigeria's top integrated energy company listed on the Nigerian Exchange and Johannesburg Stock…
Nigeria Customs Service Wins Golden World Award for Crisis Communication
The Nigeria Customs Service (NCS) has been honored with the prestigious Golden World Award (GWA) for Crisis…
Nigeria still borrowing amid high debt costs
Nigeria's engagement with the global debt market continues to thrive, according to the International Monetary Fund…
Business Journal summit to highlight insurance’s role in economic growth
The Business Journal Annual Lecture 2024 is set to highlight the critical role of the insurance industry in…
UBA grows profit by 20% to N603bn
United Bank for Africa (UBA) Plc announced a 20.2% rise in profit before tax (PBT) for the third quarter of 2024,…
MTN Nigeria Urges Telecom Sector Reforms Amid Mounting Financial Pressures
MTN Nigeria's CEO, Karl Toriola, has highlighted the urgent need for the telecommunications industry to return to…
Nigeria stops Cooking Gas Exports to Address Rising Domestic Prices
The Nigerian government has announced a suspension of the export of Liquefied Petroleum Gas (LPG) to prioritize…
Cardoso canvasses more skilled finance graduates
Central Bank of Nigeria Governor, Mr. Olayemi Cardoso, has emphasized the need to address the shortage of skilled…
Inflation Leads To Manufacturers Collapse And Out Of Jobs
Nigeria's manufacturing sector is grappling with severe challenges, including rising energy costs, aggressive…
Cooking gas price rises by 114% in 16 months
Since June 2023, the price of Liquefied Petroleum Gas (LPG) in Nigeria has surged by over 114%, climbing from…
Petrol marketers import 123m litres, continue talks with Dangote
Between October 18 and October 20, 2024, four vessels carrying a total of 123.4 million litres of Premium Motor…
Fuel, FX subsidies gone – Finance Minister, Edun shares update on Nigerian Economy
The Nigerian government has officially ended its fuel and foreign exchange (FX) subsidies, according to Finance…
FG plans N1.1bn private sector funding in power sector
The Nigerian government, through the Rural Electrification Agency (REA), plans to leverage N1.1 billion in private…
Seven Oil Companies Set Up Facilities For Aviation Fuel At Lagos
A consortium of seven oil companies, including Eterna Plc and Techno Oil, has commissioned the Joint User Hydrant…
Maritime Workers Union Threatens Strike Over Unpaid Salaries
The Maritime Workers Union of Nigeria (MWUN) has issued a stern warning to the Council for the Regulation of…
$1trn Economy: Analyst advises FG to create structures to meet expected target
As Nigeria strives to achieve a $1 trillion economy by 2030, financial analyst Dr. Afolabi Olowookere emphasized…
Low Pension Fund Investment in Infrastructure Reflects Unattractive Market and…
Despite Nigeria's significant infrastructure deficit, pension fund investments in the sector remain around one…
CBN verifying disputed $2.4bn FX claims – Cardoso
The Central Bank of Nigeria (CBN) has launched a re-validation process to address complaints from manufacturers…
Federal High Court Extends Freeze on 818 Bank Accounts Linked to N10 Billion…
The Federal High Court in Abuja has extended the freezing of 818 bank accounts connected to a N10 billion…