Oil Producing Communities Threaten To Shut Down All Pipeline Facilities Over Unfair Treatment Of Dangote /Modular Refineries
The Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) has issued a warning that it will renew agitation for…
Category: Business
Fitch: Inflation Has Peaked in Nigeria, Will Moderate Below 25% By Year-end
Fitch Solutions has projected that Nigeria’s high inflation, which reached 34.19% in June, has peaked and will decrease to below…
BVN Enrolments Surge by 854,267 to 62.7m in Two Months
Bank Verification Number (BVN) registrations in Nigeria have risen to 62.7 million as of July 2024, up from 61.87 million…
Stock Market Down N1.3tn WoW as Investors Migrate to Fixed Income Market
Following the Central Bank of Nigeria’s (CBN) increase in the Monetary Policy Rate (MPR) to 26.75%, the Nigerian stock market…
It’s game, set and match — ALIKO DANGOTE
Dr. Reuben Abati has called for President Tinubu to intervene in the conflict between the Nigerian Midstream and Downstream Petroleum…
Dangote Refinery: Midstream, Downstream Regulatory Authority Giving Tinubu Bad Name — Abati
Aliko Dangote, Africa’s richest man, is widely recognized and respected across the continent. Over the past three decades, he has…
Naira Depreciates To N1,610/$ In Parallel Market
The Nigerian Naira experienced a significant depreciation on Friday, dropping to N1,610 per dollar in the parallel market, down from…
Dangote/NNPC Rift: Nigeria’s Petrol Import From Malta Jumps 43 Times To $2.08bn
Nigeria’s importation of petroleum from Malta soared to $2.08 billion in 2023, a 43-fold increase. According to a report by…
Expert faults NBS for omitting Marine, Blue economy data
Dr. Muda Yusuf, CEO of the Centre for the Promotion of Public Enterprise, criticized the National Bureau of Statistics (NBS)…
ICAN charges inductees to uphold principles of accounting
The Institute of Chartered Accountants of Nigeria (ICAN) has advised newly inducted Accounting Technicians to adhere to the five fundamental…
Vehicle importation falls 60.8% in H1’24
Vehicle imports into Nigeria fell sharply by 60.4 percent year-on-year to 10,991 in the first half of 2024, reflecting the…
Lafarge Africa Unveils Nigeria’s First Low-Carbon Multipurpose Cement, ECOPlanet Unicem
Lafarge Africa Plc has launched ECOPlanet Unicem, Nigeria’s first low-carbon multipurpose cement, with a 30 percent reduction in CO2 emissions.…
FG’s revenue surpassed budgetary target, says minister
Nigeria’s Finance and Coordinating Minister of the Economy, Wale Edun, announced that the Federal Government’s revenue for the first half…
Nigeria imported $2.25bn fuel from Malta — Report
Nigeria has imported $2.25 billion worth of fuel from Malta over the past nine years, with a dramatic spike in…
ICYMI: Construction begins at Midoil refinery
Midoil Refining and Petrochemicals Company Limited has officially started construction activities in Lagos, with a sod-turning ceremony at Shekungba, Ikosi/Ejinrin…
FG has exited Way & Means – Edun
In a press conference in Abuja, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announced…
Dangote Cement Reports Pre-Tax Profit Of N292.9 Billion, To Pay Tax Of N103 Billion
Dangote Cement Plc reported a pre-tax profit of N293 billion for the first half of 2024, marking a 22% increase…
Hardship: Stranded foreign scholars groan as FG slashes allowances
The Federal Government of Nigeria has announced a 12.7% cut in allowances for students studying abroad in countries like Russia,…
Certain Workers Excluded from Nigeria’s New N70,000 Minimum Wage
As workers anticipate the implementation of Nigeria’s new N70,000 minimum wage, not all will benefit from this increase. According to…
Nissan shares plunge after profit warning
Nissan shares tumbled over 10% after issuing a profit warning due to fierce sales competition, particularly in the United States.…
Unilever Sees 4% Profit Rise in H1 2024
Unilever reported a 4% increase in net profit for the first six months of 2024, reaching 3.7 billion euros ($4.0…
CBN sells one-year Treasury Bills at 22.1% in July auction
The Central Bank of Nigeria (CBN) sold one-year Treasury Bills at a 22.1% stop rate during its July 24 auction…
ETH Spot ETFs Underperform, Triggering Crypto Sell-off
The recent poor performance of newly launched ETH spot ETFs caused a significant decline in the crypto market early Thursday.…
US refiners’ Q2 profits fall on low margins, soft fuel demand
U.S. oil refiners are set to report significantly lower earnings for the second quarter compared to last year, following a…
Hotel workers in four US cities to hold strike authorization votes
Approximately 13,500 unionized hotel workers across Boston, San Francisco, Honolulu, and Providence, Rhode Island, are set to vote on strike…
Fortune 500 firms to see $5.4 bln in CrowdStrike losses, says insurer Parametrix
Fortune 500 companies, excluding Microsoft, are projected to incur financial losses totaling $5.4 billion due to a recent CrowdStrike outage,…
UK business activity picks up after pre-election lull, PMI data shows
British business activity experienced a notable uptick in July, following a lull before the July 4 election, driven by the…
Forex: Reps Pass Bill To Impose ‘Windfall Tax’ On Banks
The House of Representatives has approved a bill to impose a ‘Windfall Tax’ on commercial banks that benefited from the…
FG’s deficit spending falls 29% to N2.83trn in Q1’24
The Federal Government of Nigeria reduced its deficit spending by 29% in the first quarter of 2024, bringing the deficit…
NACCIMA, others kick as CBN hikes interest rate to 26.75%
The Central Bank of Nigeria (CBN) has raised its benchmark Monetary Policy Rate (MPR) to 26.75% from 26.25% in an…