Browsing Category
Business
Nigeria’s Non-Oil Exports Experience Slight Dip in H1 2023
The Nigerian non-oil export sector recorded a marginal decrease in export value, amounting to $2.54 billion,…
Nigeria’s Inflation Hits 17-Year High Amid Ongoing Rise
Nigeria's headline inflation rate has reached a 17-year high, rising for the sixth consecutive time to 22.79% in…
Access Bank and Standard Chartered Bank Finalize Agreement for African…
Access Bank Plc and Standard Chartered Bank have reached an agreement for Access Bank to acquire Standard…
Geregu Power Makes N8.78bn Advance Payment to Italian Firm for Turbine Overhaul
Geregu Power Plc, a power generating company in Nigeria, revealed that it has made advance payments totaling…
Manufacturers Association of Nigeria Raises Concerns Over Exclusion from Smart…
The Manufacturers Association of Nigeria (MAN) has voiced its apprehensions over the impending displacement of…
Access Bank to Acquire Standard Chartered’s Sub-Saharan Subsidiaries
Access Bank Plc has recently entered into an agreement to purchase the sub-Saharan subsidiaries of Standard…
Nigeria’s Crude Oil Earnings Rise to N1.68tn in June as Output Increases
Nigeria's crude oil earnings reached over N1.68tn in June 2023 due to an increase in the country's oil output,…
Declining Foreign Investments Pose Challenges for Nigeria’s Manufacturing…
Foreign investments in Nigeria's manufacturing sector witnessed a significant drop of 35% from $392.5 million in…
Dangote Cement Expands Production Capacity in Itori, Ogun State, and Across Africa
Dangote Cement has announced its plans to expand production capacity through the construction of a new integrated…
Central Bank of Nigeria Introduces Naira Payout Option for Diaspora Remittances
The Central Bank of Nigeria (CBN) has announced the inclusion of the Naira as a payout option for recipients of…
Inflows into Nigeria’s Investors and Exporters Window Rise to $2.55bn
Data obtained from the FMDQ revealed that the total inflows into Nigeria's Investors and Exporters Window (I&E…
Nigeria’s Oil Production Set to Increase with Addition of 192,000 Barrels…
The Nigerian National Petroleum Company Limited (NNPCL) and its joint venture partners have announced plans to…
New Gas Pricing Template and Clearing Power Sector Debts: Boosting Nigeria’s…
A new gas pricing template for the power sector and gas-based industries in Nigeria is awaiting approval from…
Flour Mill of Nigeria Leverages Strong Credit Rating to Secure Capital Market…
Flour Mill of Nigeria Plc, a prominent consumer conglomerate in Nigeria, has reaffirmed its commitment to…
Nigeria’s Low VAT Performance Raises Concerns and Calls for Policy Changes
The Nigerian Federal Government expressed alarm over the country's underperforming Value Added Tax (VAT) compared…
Nigeria to Seek Increased OPEC Oil Quota in November, Says NNPCL
The Nigerian National Petroleum Company Limited (NNPCL) has stated that the Federal Government of Nigeria plans to…
Nigeria’s Dominance in Africa’s Gas Market: A Promising Future
Nigeria's gas reserves have positioned the country as a dominant player in Africa's gas market, accounting for 33…
Petrol Consumption in Nigeria Drops After Subsidy Removal: A Closer Look.
: The Nigerian government recently announced that the volume of Premium Motor Spirit (PMS), commonly known as…
To alleviate hardship, President Tinubu suspends important tax measures.
In an effort to boost manufacturing and improve the ease of doing business, President Bola Ahmed Tinubu of Nigeria…
We are collaborating with key players to shorten the settlement cycle – NGX
Nigerian Exchange Limited (NGX) has announced its commitment to reducing the settlement cycle from T+3 to T+1 in…
Productivity declined in June as a result of the removal of fuel subsidies- PMI…
In June 2023, the Nigerian economy experienced a decline in productivity following the removal of fuel subsidies,…
CBN adds Cameroon, Vietnam, and Croatia to its radar for money laundering.
The Central Bank of Nigeria (CBN) has issued a circular instructing banks and other financial institutions in the…
NNPCL intends to build a new $8 billion international gas pipeline.
The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to construct another international gas…
State Intends to Issue a Water Bond Following a Failed Initial Attempt.
Nearly half of the water supplied in Kenya is unmetered, resulting in a significant loss of revenue for water…
Safaricom Considers Venture Companies in its Acquisitions Push.
Safaricom, the leading telecommunications company in Kenya, plans to establish two venture capital firms in order…
Subsidy: NNPC will Reconcile its N2.1 trillion Deduction with FAAC.
The Nigerian National Petroleum Company (NNPC) Limited has stated that it will reconcile subsidy deductions with…
Telecoms Investments Hit $76bn, 5G Subscriptions Now 60,000 — NCC
Investments in the Nigerian telecommunications sector have reached $75.6 billion as of the end of 2021, according…
Gulf’s dominance grows as a result of OPEC+ oil quota reform.
The recent reforms at OPEC, outlined by Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman, aim to reward…
Naira devaluation: Telcos warn customers to expect price increases.
Telecommunication firms in Nigeria are working with their regulator, the Nigerian Communication Commission (NCC),…
The World Bank estimates that Nigeria may save $5.1 billion this year through…
The World Bank has stated that Nigeria stands to save up to 3.9 trillion naira (approximately $5.10 billion) this…