Glo @ 21: Braving the odds to grow Nigeria’s economy
Globacom, the Nigerian telecommunications giant founded by Chief Mike Adenuga, is celebrating 21 years of pioneering the nation’s digital landscape.…
Category: Business
Nigeria opens subscription for five-year domestic dollar bond at 9.75%
The Nigerian government is set to raise $500 million through a domestic dollar bond at a 9.75% annual yield. This…
Equites Opens Week With N750bn Dip
The Nigerian equities market experienced a significant loss of N750 billion due to sell pressures on major stocks like Dangote…
Why govt is still subsidising electricity, by Adelabu
Minister of Power, Chief Adebayo Adelabu, revealed that the Nigerian government heavily subsidizes electricity, as the cost to generate 1…
NNPC Pledges 221,000bpd To Repay $5.5bn Loans
The Nigerian National Petroleum Company (NNPC) Limited has pledged 221,000 barrels per day (bpd) of crude oil to fulfill its…
FG to commence naira crude oil sales to Dangote refinery October 1
The Nigerian Federal Government will begin selling crude oil to the Dangote Refinery in naira starting October 1, 2024, marking…
Amidst fuel crisis, NNPC Retail cedes total control to OVH
The ownership of NNPC Retail, the downstream arm of the Nigerian National Petroleum Company Limited (NNPC), has officially transferred to…
NNPC battles deepening fuel scarcity, black market booms
The Nigerian National Petroleum Company Limited (NNPC) promised to resolve the ongoing petrol scarcity by mid-week, despite widespread shortages and…
MTN, others get permits to generate electricity
The Nigerian Electricity Regulatory Commission (NERC) has issued nine new off-grid generation licenses in the first quarter of 2024, totaling…
FG shifts N150bn loan disbursement for manufacturers to September
The Federal Government has delayed the start of a N150 billion loan disbursement for manufacturers and MSMEs to September, as…
NAHCO denies N778m fraud allegations
The Nigerian Aviation Handling Company (NAHCO) has strongly denied allegations of fraudulent activities related to the 2024 Hajj operations. The…
External reserves shed $343m in nine days, says CBN
Nigeria’s foreign exchange reserves fell by $342.97 million in just nine days, reducing the total to $36.53 billion as of…
NSITF Targets One Million Annual Registration, Settles Over 100,000 Claims
The Managing Director and CEO of the Nigeria Social Insurance Trust Fund (NSITF), Mr. Oluwaseun Faleye, announced that the Fund…
Dwindling Telecom investments: NIGCOMSAT proposes strategic partnerships to cushion effects
Nigeria’s telecommunications industry is facing a downturn due to the devaluation of the naira, which has significantly increased the cost…
SEC to set up special units as unclaimed dividends hit N215bn
The Securities and Exchange Commission (SEC) is launching a special unit and developing a mobile application to address the growing…
Consumer Goods Companies report reduced margins in the first half of 2024, blame higher production
In the first half of 2024, consumer goods companies listed on the Nigerian Stock Exchange (NGX) reported a significant surge…
Nigeria, Equatorial Guinea sign gas pipeline agreement
On Wednesday in Malabo, Nigeria’s President Bola Tinubu and Equatorial Guinea’s President Teodoro Mbasogo signed an agreement for the Gulf…
5,000MW power generation shameful, says minister
Minister of Power, Adebayo Adelabu, expressed strong discontent with Nigeria’s current electricity generation capacity of 5,000 megawatts, calling it “shameful”…
NUPRC sued in 70 cases this year – Official
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has been involved in over 70 legal cases this year alone, according to…
GTB confirms hackers attempt to compromise website
Guaranty Trust Bank Plc (GTBank) has confirmed an isolated incident involving an attempt to compromise its website domain, which occurred…
Equity market extends loss to fourth consecutive day
The Nigerian equity market continued its downward trend on Thursday, marking the fourth consecutive session of losses. Investors saw a…
Multi-billion naira Jauri Inland Dry Port to come on mainstream soon – Zulum
Governor Babagana Zulum of Borno State has reaffirmed the government’s dedication to advancing the Jauri Inland Dry Port in Maiduguri.…
Senate to get bill for CBN’s N30trn Ways & Means liquidation
A bill aimed at liquidating the Central Bank of Nigeria’s (CBN) outstanding N30 trillion Ways and Means advances will soon…
MTN-MUSON Scholarship Program Opens for Music Talents
The MTN Foundation, in collaboration with the Musical Society of Nigeria (MUSON), has announced the opening of applications for the…
United Capital supports first $1.4m corporate bond in S’Leone
United Capital Group has successfully led the issuance of Sierra Leone’s first local currency corporate bond, valued at SLE32 million…
European banks reluctant to fund fossil fuel – SPE chair
Salahudeen Tahir, Chairman of the Society for Petroleum Engineers in Nigeria, revealed at the 47th Nigeria Annual International Conference and…
Coronation Merchant Bank Appoints Abiagam Acting Managing Director/CEO
Coronation Merchant Bank, a leading investment bank in Nigeria, has appointed Paul Abiagam as its Acting Managing Director/CEO, effective immediately.…
70% Windfall Tax Burdensome, Ill-Timed – Bank Directors
The Bank Directors Association of Nigeria has expressed strong concerns about the recent imposition of a 70% windfall tax on…
High inflation: 67% of MSMEs seen declining demands — PwC
A new PwC Nigeria report reveals that 67% of Micro, Small, and Medium Enterprises (MSMEs) have seen a drop in…
Nigeria’s economy growing, recorded $55 billion non-oil export in 2023 – Wale Edun
Finance Minister Wale Edun has assured Nigerians of economic progress under President Bola Tinubu, revealing that the country achieved $55…