World Bank Reports Nigeria’s Growth in Private Sector Investments for 2023
The World Bank reported that Nigeria secured 133 private sector investment commitments in three projects during 2023. This information came…
Category: Business
Naira Weakens to N1,520 Per Dollar in Parallel Market
The Naira weakened against the dollar, dropping to N1,520 per dollar in the parallel market, down from N1,470 per dollar…
Argentina’s Inflation Rate Nears 300%, Despite Signs of Deceleration
Despite positive signs of a deceleration, Argentina continues to face soaring inflation, with the annual inflation rate expected to approach…
South Africa’s Unemployment Rate Rises to 32.9% Ahead of Election
South Africa’s unemployment rate climbed to 32.9% in the first quarter of this year, up from 32.1% in the previous…
Uganda in Talks with Chinese Firm for $180m Power Transmission Line to South Sudan
Uganda is in discussions with Chinese company Sinohydro Corporation Limited for the development of a $180 million power transmission line…
Anglo American CEO Accelerates Spin-Off Plans to Hinder BHP Takeover Bid
The CEO of Anglo American, Duncan Wanblad, revealed on Tuesday that the company’s plans for a spin-off of its South…
Oil Prices Stable as OPEC Maintains Demand Forecast, Investors Await U.S. Inflation Data
Oil prices remained largely unchanged on Tuesday as OPEC retained its global oil demand predictions, while investors awaited U.S. inflation…
U.S. Trade Representative Calls for Higher Tariffs on Chinese Goods
U.S. Trade Representative Katherine Tai has proposed increased tariffs on a range of Chinese goods, citing the need for expanded…
Tetra Pak Names Haithem Debbiche as New Managing Director for West Africa
Tetra Pak, a leading food processing and packaging solutions company, has appointed Haithem Debbiche as the new Managing Director for…
Retail investors pile into stock market despite weaker purchasing power
In the first quarter of 2024, despite facing accelerating inflation, which has eroded purchasing power, retail investors poured N670.89 billion…
NPA Clears Decade-Long Gridlock on Mile 2-TinCan-Apapa Corridor
The Nigerian Ports Authority (NPA) has announced the successful clearance of the notorious decade-long gridlock on the Mile 2-TinCan-Apapa corridor,…
FCTA issues 24-hour notice for demolition of 500 illegal structures in Abuja
The Department of Development Control, under the Federal Capital Territory Administration (FCTA), has issued a 24-hour demolition notice to proprietors…
Militant group demands 25% of Okomu Oil Plc shares after fatal attack on host community
A militant group identified as the “Ijaw Freedom Fighters” launched an attack on the Imariogha community near the Okomu Oil…
NGX earns N6.959 billion revenue from transaction fees, treasury investments
The Nigerian Exchange Group Plc saw a significant increase in revenue for the 2023 financial year, generating N6.959 billion from…
Netherlands Overtakes India as Nigeria’s Second-Largest Trade Partner in 2023
The Netherlands has surpassed India to become Nigeria’s second-largest trade partner in 2023, according to the National Bureau of Statistics…
South Africa’s MTN service revenue falls, lowers capex target
MTN Group, Africa’s largest telecommunications operator, has disclosed an 18.8% decline in its first-quarter service revenue, largely influenced by the…
Crypto Analyst Warns of Bitcoin Panic Sell-Off if Price Falls Below $60,000
Renowned crypto analyst and FX Pro trader, Alex Kuptsikevich, has issued a cautionary note, suggesting that Bitcoin might face a…
UBS CEO says Switzerland should not “overshoot” with capital demands
UBS CEO Sergio Ermotti has responded to criticism that the bank has grown too large for Switzerland, and has dismissed…
Euro zone banks have reduced their exposure to Russia by half ECB’s Buch says
The European Central Bank (ECB) revealed that euro zone banks have significantly reduced their exposure to Russia by more than…
SoftBank Reports Quarterly Profit
SoftBank Group, a big technology company from Japan, made a profit of 328.9 billion yen (which is about $2.11 billion)…
Dubai’s Emirates airline posts record full-year profit
Dubai’s Emirates airline had a fantastic year, reporting a full-year profit of 17.23 billion dirhams (which is about $4.69 billion).…
U.S. says construction industry will need extra 501,000 jobs
The U.S. Bureau of Labor Statistics forecasts around 646,100 job openings each year in the construction sector from 2022 to…
FG eyes new visa application process in weeks to improve accessibility – Minister
The Minister of Interior, Olubunmi Tunji-Ojo, announced that the Federal Government of Nigeria is working on revising the country’s visa…
Interpol Nigeria boosts cybersecurity with digital asset training
In response to the increasing cases of cybercrimes in Nigeria, cybersecurity experts, along with the Nigerian Interpol and local intelligence…
TotalEnergies To Empower 100 African Startups
TotalEnergies is gearing up to support 100 startup businesses across 32 African countries in the 4th edition of the ‘Startupper…
NNPC, Natural Oilfield Services Begin Oil Production in Akwa Ibom
Nigerian National Petroleum Company Exploration and Production Limited (NNPCL) and Natural Oilfield Services Limited (NOSL) have announced the commencement of…
NGX lists N4.08bn AVA Infrastructure Fund
The Nigerian Exchange Limited has recently added the AVA Infrastructure Series 1 Fund, worth N4.08 billion, to its trading platform.…
National, state assemblies to spend N724bn in 2024
An analysis of the 2024 budgets of the National Assembly, state assemblies, and their agencies reveals a total expenditure of…
Labour Begins Nationwide Protests Against Electricity Tariff Hike
Organised labour is set to commence nationwide protests today over the recent electricity tariff hike and removal of subsidy in…
IMF cautions FG against CBN Act amendment
The International Monetary Fund (IMF) has advised against proposed amendments to the Act establishing the Central Bank of Nigeria (CBN),…