NDIC should ensure maximum value from Heritage Bank’s assets
The Nigerian Senate has directed the Nigeria Deposit Insurance Corporation (NDIC) to maximize the value of remaining assets from the…
Category: Business
Customs ushers in new leadership with the latest appointments
As the Nigeria Customs Service (NCS) marks the retirement of several senior officials, Comptroller General Adewale Adeniyi has introduced a…
IMF SEES MAJOR MANUFACTURING SHIFT TOWARDS INDIA AND CHINA
The latest International Monetary Fund (IMF) World Economic Outlook report underscores a global shift in manufacturing from advanced economies to…
NLC slams IMF for fuel subsidy removal denial
The Nigeria Labour Congress (NLC) has criticized the International Monetary Fund (IMF) for denying responsibility in Nigeria’s recent removal of…
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 Central Bank…
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 collection system to expand…
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 marketers, bypassing…
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 enhance operational efficiency…
Mainpower DisCo takes over electricity distribution in Enugu State
Mainpower Electricity Distribution Limited, a subsidiary of the Enugu Electricity Distribution Company (EEDC), has received an interim license from the…
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 illicit finance and…
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 insurance industry plays…
Protesting staff’s request beyond NAFDAC – Consultant
The ongoing strike by the National Agency for Food and Drug Administration and Control (NAFDAC) employees, organized by the Senior…
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 Trade Initiative, local exporters…
Discos responsible for phased-out meters replacement – FCCPC
The Federal Competition and Consumer Protection Commission (FCCPC) has established that power distribution companies are accountable for replacing phased-out meters…
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 to…
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 Exchange, joined industry leaders at…
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 Communication, presented by…
Nigeria still borrowing amid high debt costs
Nigeria’s engagement with the global debt market continues to thrive, according to the International Monetary Fund (IMF), despite the hurdles…
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 catalyzing sustainable…
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…
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 profitability, citing escalating…
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 domestic supply and…
Cardoso canvasses more skilled finance graduates
Central Bank of Nigeria Governor, Mr. Olayemi Cardoso, has emphasized the need to address the shortage of skilled professionals in…
Inflation Leads To Manufacturers Collapse And Out Of Jobs
Nigeria’s manufacturing sector is grappling with severe challenges, including rising energy costs, aggressive production expenses, and logistical constraints. Energy prices,…
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 N700/kg…
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 Spirit…
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 Minister Wale Edun. During…
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 sector funding to enhance…
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 Installation 2…