French Company Schneider Transfers Kenya Operations.
French energy company Schneider Electric Kenya will discontinue its manufacturing activities there, indicating challenges with local value-addition. Schneider Electric Kenya…
Category: Business
Shane Harris is Appointed Chairman/MD of ExxonMobil Nigeria.
In Nigeria, Esso Exploration and Production Nigeria Limited, Mobil Producing Nigeria Unlimited, have appointed Shane Harris as their new chairman…
Airtel’s Network Launch has Increased Access to 5G.
In Nigeria, access to fifth-generation technology (5G) is expanding significantly, especially since Airtel Nigeria inaugurated the network on Monday in…
UK Lowers Tariffs on Goods from Nigeria and Other Countries.
In order to save businesses and consumers millions of pounds annually, the United Kingdom (UK) stated that it has drastically…
As Billing Revenues Reach N842 billion in a Year, Discos’ Collection Efficiency Increases.
According to the most recent data made available by the Nigerian electrical Regulatory Commission (NERC), the collection efficiency of the…
FG Begins Enforcing the Data Privacy Law, Banks, telcos, and others will Face Steep Fines.
Banks, telecommunications corporations, and other organizations might face fines of up to 2% of their annual turnover for data breaches,…
Ofori-Atta: The Government will get $6.2 billion from Multilateral Partners.
The government anticipates receiving around $6.2 billion from its multilateral partners between 2023 and 2026, according to Ken Ofori-Atta, minister…
Capital Market: By Q3 2023, ASEA will Launch AELP Phase II.
The second phase of the African Exchanges Linkage Project (AELP), which was successfully launched in phase one, is expected to…
Nigeria, Morocco, and others Agree on a $30 billion Pipeline.
Four Memorandums of Understanding for the $30 billion Nigeria-Morocco Gas Pipeline Project were signed on Friday at the ECWAS headquarters…
FG Obtains a $750 million World Bank Credit for Power Development.
On June 9, 2023, the loan with project ID P174622 received approval, becoming the first World Bank loan to do…
May Oil Production Generates N1.3tn and Reaches 36 million Barrels.
In May 2023, Nigeria’s oil production rose by 6.73 million barrels to 36.7 million barrels, generating a total income of…
Solcon Capital Replaces Convergence Partners Investments as the Brand.
Convergence Partners Investments has changed its name to Solcon Capital as the company intensified efforts to promote platform economics-based global…
More Nigerians will receive 5G service once Airtel rolls out.
Airtel, a telecom company, plans to launch its Fifth-Generation (5G) network services between now and next week, barring any unforeseen…
Nigeria’s Debt Profile Will Reach N81 Trillion After Unification of Fx Rates.
Following the most recent Naira devaluation by the Central Bank of Nigeria (CBN), Nigeria’s debt profile has increased to N81…
Tinubu’s Economic Experts Recommend a Unification of Customs, NIMASA, and FIRS.
President Bola Ahmed Tinubu’s Policy Advisory Council has advised that the country declare a state of emergency in terms of…
In Q1 2023, Nigeria Recorded N710 billion in VAT.
According to the National Bureau of Statistics (NBS), the total Value Added Tax (VAT) in Q1 2023 was N709.59 billion.…
Shell Intends to Increase Oil and Gas Production.
Shell Petroleum Development Company would enhance its oil and gas output in Nigeria during the upcoming months. Due to the…
Tinubu Expects the Data Protection Law to Create 500,000 Employment.
On Monday, June 12, 2023, President Bola Tinubu officially signed the Data Protection Bill into law, according to the Nigeria…
According to OPEC, Nigeria’s Economy would Rebound in the Following Months.
Although Nigeria’s economy suffered difficulties in the first half of the year, according to the Organization of the Petroleum Exporting…
FG and Oando Establish an MOU to Increase Access to Renewable Energy
In order to accelerate the deployment of sustainable renewable energy access throughout the nation, the Federal Government and Oando Clean…
IMF Advocates 5 Priority Policy Options For Nigeria Regarding Financial Inclusion.
The largest economy in Africa’s largest country has five top-priority policy options for promoting financial inclusion, according to the International…
FG Targets N124 billion from New Import Tax.
A 0.5% import tax on commodities that was proposed in Finance Bill 2023 is expected to bring in around N124.26…
Lafarge Africa Names A New CEO.
Lolu Alade-Akinyemi has been named the new CEO of Lafarge Africa, who will lead the organization’s expansion strategies. The company…
Operations of Binance in Nigeria are now prohibited, according to the SEC.
The Securities and Exchange Commission (SEC) ruled that Binance’s operations in Nigeria were unlawful. Any Nigerian who trades on Binance…
Sesame exports from Nigeria show slight growth.
Sesame seed exports from Nigeria have been ranging between 140,000 and 180,000 tonnes for a while. According to data from…
BUA: Increasing Cement Production in Nigeria
Obinna Chima talks on the additional $500 million that BUA Cement Plc has secured for the expansion of its manufacturing…
NNPCL directs marketers regarding refunds and new prices
A new circular from the Nigerian National Petroleum Company Limited outlines the prices oil merchants will pay for petroleum goods.…
Venture-backed Expensya purchased in a trade sale.
The Tunisian-born but Paris-based Expensya will be acquired by Medius, a Swedish business cost management company, for an unknown sum.…
Report: Product taxes increase by 112% and cost N3 trillion.
Total product taxes in the economy increased by 112.02 percent, from N1.43 trillion in 2019 to N3.03 trillion in 2022,…
Experts: The FG’s FX Unification Policy Will Deepen the Capital Market and Attract FDIs.
The federal government’s FX unification strategy has been praised by experts in the Nigerian financial services industry, who emphasize that…