Protests rocks UNIBEN as students shut down Benin-Ore highway over power outage
Students of the University of Benin (UNIBEN) staged a protest on Wednesday, blocking the Benin-Ore Highway to demand an end…
Category: Business
Sanwo-Olu to establish Lagos state sovereign investment fund, lobbies NSIA to invest in Lekki airport project
Governor Babajide Sanwo-Olu of Lagos State announced plans to establish a Sovereign Investment Fund during a meeting with the Nigeria…
Asia stocks rise on rate cut wagers, yen wallows at 38-year lows
Asian stocks rose on Wednesday following remarks by Federal Reserve Chair Jerome Powell, indicating potential upcoming U.S. rate cuts. The…
UK Investors Pour Record £11.4 Billion into Equity Funds in First Half of 2024
British investors injected a record £11.4 billion into equity funds during the first six months of 2024, driven by the…
Nippon Steel’s Mori to visit US again next week for talks on US Steel takeover
Nippon Steel’s Vice Chairman, Takahiro Mori, will travel to the United States next week to discuss the proposed $15 billion…
No economic growth will happen unless interest rate at 30% goes down – Aliko Dangote
Aliko Dangote, Chairman of the Dangote Group, criticized the Central Bank of Nigeria’s (CBN) decision to raise the interest rate…
FG Clears $850m Debt To EU Airlines
The Nigerian government has cleared a backlog of debts amounting to $850 million owed to European airlines, as announced by…
FAKE NEWS ALERT: No Explosion At Zungeru Hydroelectric Dam, Say ED, Police
Siraj Abdullahi, executive director of the Zungeru hydroelectric dam in Niger state, refuted reports of an explosion at the facility.…
Adefeko Calls For Urgent Action To Address Food Insecurity
Ade Adefeko, director of corporate and regulatory affairs at Olam Agri, has called for urgent measures to address Nigeria’s worsening…
Senate Passes Bill To Allow Foreigners In Nigeria Obtain NIN
The Nigerian Senate has passed a bill for a second reading that proposes granting all persons, including foreigners residing in…
Dangote Refinery Begins Gasoil Exports To West African Countries, As Imports From Europe Decline
Aliko Dangote, Chairman of the Dangote Group, strongly criticized the Central Bank of Nigeria (CBN) for increasing the interest rate…
China’s BYD posts 21% jump in quarterly EV sales, closes gap with Tesla
China’s BYD reported a 21% increase in electric vehicle (EV) sales for the second quarter, bringing its total to 426,039…
South African rand extends losses, focus on unity government’s reforms
The South African rand continued its decline on Tuesday, trading at 18.6325 against the dollar, a 1.5% drop from the…
Biden revoked 8 licenses for China’s Huawei in 2024, document shows
In 2024, the Biden administration revoked eight more licenses that previously allowed U.S. companies to supply goods to Chinese telecom…
Nigeria Air Project Remains Suspended Pending Presidential Decision
The Nigerian government’s Nigeria Air project remains suspended as Minister of Aviation and Aerospace Development, Festus Keyamo, awaits President Bola…
Nigeria’s N121.6trn Debt Exceeds 50% GDP
PricewaterhouseCoopers International Limited (PWC) has reported that Nigeria’s public debt soared to N121.67 trillion in the first quarter of 2024.…
Best performing stocks in the NGX in the first half of 2024
The Nigerian Exchange (NGX) achieved a significant growth of 33.81% in the first half of 2024, with the All-Share Index…
Coronation Insurance posts 192% profit growth in 2023
Coronation Insurance Plc has reported an impressive year-on-year profit growth of 192% for the fiscal year 2023. According to the…
Nigeria’s telecom sector attracts $191.5 million FDIs in Q1 2024 – NBS
Nigeria’s telecommunications sector attracted $191.5 million in Foreign Direct Investments (FDIs) in Q1 2024. According to the National Bureau of…
Dangote refinery begins gasoil exports to West African countries, as imports from Europe decline
Nigeria’s new Dangote oil refinery is increasing gasoil exports to West Africa, capturing market share from European refiners. The $20…
World Bank Restructures Nigeria Digital ID Project to Ensure $430 Million Funding
The World Bank is restructuring Nigeria’s Digital Identification for Development (ID4D) project to secure the full $430 million pledged by…
NESG Backs CBN’s Stoppage Of Price Verification System On FX
The Nigerian Economic Summit Group (NESG) is praising the Central Bank of Nigeria’s (CBN) decision to eliminate the Price Verification…
MRS Nigeria Delisted from the Nigerian Stock Exchange, Eyes OTC Market
MRS Nigeria Limited, an oil marketing firm, has received shareholder approval to voluntarily delist its shares from the Nigerian Exchange…
Nigeria Removes 5 Oil Blocks from Licensing Round Due to Legal Issues
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has removed five (5) oil blocks from the ongoing 2024 Licensing Round because…
Russia’s VTB bank says US sanctions have complicated cross-border transactions
The recent U.S. sanctions on Moscow have significantly affected Russian banks, including VTB, Russia’s second-largest lender. Dmitry Pyanov, VTB’s finance…
Ackman’s Pershing Square USA to offer shares at $50 in NY listing
Pershing Square USA, managed by billionaire Bill Ackman, is preparing for its initial public offering (IPO) on the New York…
Aircraft delivery delays having ‘brutal’ impact on Lufthansa, says CEO
Carsten Spohr, CEO of Lufthansa (LHAG.DE), revealed at a business press club in Stuttgart that ongoing aircraft delivery issues are…
Italy claims 1 billion euros in unpaid taxes from Google
Italy is seeking 1 billion euros ($1.07 billion) from Google in unpaid taxes and penalties, according to three sources familiar…
220 Drug Suspects Arrested As NDLEA Destroys 14 Cannabis Farms In Edo
The Edo State commander of the National Drug Law Enforcement Agency (NDLEA), Mr. Callys Alumona, announced that the agency had…
Naira Depreciates Further, Exchanges At N1,510/$
The Naira maintained its downward trend, reaching N1,510.10 against the US Dollar as reported by Daily Trust. This represents a…