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 collaboration with…
Category: Business
Productivity declined in June as a result of the removal of fuel subsidies- PMI Report.
In June 2023, the Nigerian economy experienced a decline in productivity following the removal of fuel subsidies, resulting in heightened…
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 country to…
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 pipeline valued at approximately $8…
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 companies…
Safaricom Considers Venture Companies in its Acquisitions Push.
Safaricom, the leading telecommunications company in Kenya, plans to establish two venture capital firms in order to invest in promising…
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 the federation, following a…
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 to the Executive…
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 countries that…
Naira devaluation: Telcos warn customers to expect price increases.
Telecommunication firms in Nigeria are working with their regulator, the Nigerian Communication Commission (NCC), to review the prices of their…
The World Bank estimates that Nigeria may save $5.1 billion this year through reforms.
The World Bank has stated that Nigeria stands to save up to 3.9 trillion naira (approximately $5.10 billion) this year…
Unification: Producers Bemoan the Lack of FX Availability.
After the Central Bank of Nigeria (CBN) unified the foreign exchange (FX) market, manufacturers in the country are expressing concerns…
Unicem Cement’s Eco-label is Introduced by Lafarge Africa.
Lafarge Africa Plc has launched its Eco Label branding, which supports the company’s commitment to net zero emissions and aims…
Credit to the Private Sector Increased 14.97% to N44.21 trillion in May.
The Central Bank of Nigeria (CBN) has reported a significant 14.9% year-on-year increase in credit to the private sector, reaching…
Shareholders of Union Bank will receive N7 Ser shares from Titan Trust Bank.
Union Bank Plc has announced that minority shareholders will receive N7.00 per scheme share as consideration for the transfer of…
Nigeria’s Oil Production Falls Below the Target Set by OPEC.
According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria’s oil production has fallen below the target set…
Nestle increases its sourcing of Nigerian raw materials as the cash crunch hits
Nestle, a major food company, is increasing its sourcing of local raw materials such as starch and turmeric in Nigeria…
CBN and Bill Gates Collaborate on Financial Inclusion
The Central Bank of Nigeria (CBN) and the Bill and Melinda Gates Foundation (BMGF) have finalized their plans to enhance…
Debt Servicing Surged by 55.71% to N1.24tn.
Nigeria’s debt servicing costs have surged by 55.71% to N1.24tn within a three-month period, as revealed by data from the…
Travelers Lament as the Devaluation of the Naira Raises Airfares.
The decision by the Central Bank of Nigeria to devalue the naira has caused a significant increase in airfares, negatively…
FG, the States, and LGAs Split May’s Income of N786 billion.
The Federation Account Allocation Committee (FAAC) announced that it distributed a total of N786.16 billion among the three tiers of…
DMO is Alarmed by Low Revenue as Nigeria’s Debt Approaches N81 trillion.
According to findings, Nigeria’s total public debt is projected to reach N81.64tn this year, based on the 2022 Debt Sustainability…
PPI Falls to 30.3% in May 2023, According to GSS.
According to recent information from the Ghana Statistical Service (GSS), the Producer Price Inflation (PPI) for the month of May…
FG and Others Share N2.84 trillion in FAAC.
In the first four months of this year (January to April), the Federal Government (FG), 36 States, and 774 Local…
Leading Imports Include Wheat, Sugar, and Petroleum Goods.
Despite the limited access to petroleum products that Nigerians had in the first quarter of 2023 (Q1’23), With a total…
FGN Bonds’ Value Decreased by 93.2% to N183 billion.
In comparison to the same period in 2022, the value of listed Federal Government of Nigeria bonds on the Nigerian…
States start the process of establishing utility commissioners under the Electricity Act of 2023.
There are significant signs that the state governments, which are considered to be federating units under the constitution, may have…
Removal of Subsidies: NEITI Investigates Gasoline Usage Data.
Despite the criticism to the action, the Federal Government shouldn’t reverse its decision to end subsidies on Premium Motor Spirit,…
Eze, a YC-backed Wholesale Electronics Marketplace, Raises $3.7 million.
Eze, a B2B electronic goods marketplace, raises $3.7 million. Right Side Capital Management headed the investment round, which also included…
Trella’s Logistics Startup is Supported by Avanz Capital Egypt with $3.5 million.
To aid in the expansion of the Egyptian logistics sector, private equity firm Avanz Capital Egypt has invested $3.5 million…