Purchasing Power Falls as FG Slams New Tax Law.
The federal government recently adopted a new tax law that was included in the 2023 Fiscal Policy measures and has…
Category: Business
Nigeria, Others Need $7.5 billion to Deepen LPG Usage.
According to the African Refiners and Distributors Association, replacing charcoal with clean cooking gas, also known as liquefied petroleum gas,…
Nigerian Oil Production Falls for First Time in Seven Months.
Nigeria’s crude oil production fell by 38,102 barrels per day in March, a cumulative monthly loss of about 1,181,162 barrels,…
NIMC: E-identity is Critical to the Digital Economy.
A strong and secure e-identity system is crucial, according to Aliyu Abubakar, Director-General of the National Identity Management Commission, in…
UN Mobilizes N38 Billion for Nigeria’s Agriculture Sector .
In order to enhance Nigeria’s agriculture industry from 2023 to 2027, the United Nations will work with the federal and…
President Buhari Set to Commission Dangote Refinery.
According to a spokesperson for the president, Nigerian President Muhammadu Buhari will officially open the multibillion-dollar Dangote oil refinery in…
Reps Increase Buhari’s Supplemental Spending to N23.7 trillion.
The Federal Government acquired Ways and Means Advances worth N23,719,703,774,306.90 from the Central Bank of Nigeria, and the House of…
HOSCON Aims to Invest US$5 billion in Member States.
The Host Communities of Nigeria Producing Oil and Gas (HOSCON) said that it is aiming to raise $5 billion in…
Carl Cruz is Appointed as MD and CEO of Airtel Nigeria by Airtel Africa.
Carl Cruz has been appointed as the Managing Director and Chief Executive Officer of Airtel Networks Limited (Nigeria), according to…
FG Plans to Build Another Sea Port in 2026 – NPA.
According to the Nigerian Ports Authority, the federal government plans to build another deep-sea port within the next three to…
Niger Delta Community Threatens $1 trillion Lawsuit Against IOC, FG.
The host community of oil and gas in the Niger Delta has pledged a trillion-dollar against oil companies and the…
Nigerian Breweries issues commercial paper of N25 billion.
According to a regulatory filing acquired, Nigerian Breweries Plc has disclosed a proposal to raise N25bn through the sale of…
Prosper Africa Supports Co-investments in Kenya’s Apparel Industry.
Leading companies and investors were gathered in New York City by the U.S. Government’s Prosper Africa project and Embassy in…
Vantage Sells Majority Stake in Dynamic Bedding.
The largest mezzanine loan fund manager in Africa, Vantage Capital, has completely sold its interest in Dynamic Bedding, a well-known…
Rohatyn Group makes Investment in Printing and Packaging Firm.
The Rohatyn Group (“TRG”), a specialized global asset management company with a focus on real assets and investment solutions in…
TPG-backed Healthcare Group Secures Financing from IFC.
On April 25, 2023, in Nairobi, Kenya—IFC announced an investment in Kenyan healthcare provider Avenue Group Limited. The funding will…
Amethis Holds First Close for Africa Europe Expansion Fund.
Amethis – a partner member of Edmond de Rothschild Private Equity – is a leading player in private equity dedicated…
Convergence Adds Specialist FinTech Group to Latest Fund’s Portfolio.
42Markets, a financial and capital markets fintech investment group, has secured $10 million in growth funding from Convergence Partners to…
Customs officers Lose N2 billion in Protest of a 100% Tariff Increase.
Customs officers at the Murtala Muhammed International Airport (MMIA) have described how their protest against the rise in ground handling…
Nigeria’s NNPC and Norway’s Golar Sign Contract for Floating LNG Facility.
Nigeria’s state-owned oil company, NNPC Ltd, announced that it had signed a memorandum of understanding with Norwegian business Golar LNG…
Exxon to Reopen Operations in Nigeria after Strike Ends.
ExxonMobil (XOM.N) has resumed operations at its Nigerian facility following a labor deal with its internal union on wages and…
FG Prepares a Supplementary Budget while NEC Postpones Subsidy Elimination.
The Federal Government was requested by the National Economic Council in Abuja to postpone the June deadline for the elimination…
HH Capital, Owned by Elumelu, Ups its Stake in Transcorp to 26%
Tony Elumelu, the chairman of Transcorp Corporation Plc, boosted his ownership in the company through HH Capital Limited, where he…
Foreign Investors’ Percentage of NSE Trading Falls to 30%
The Nairobi Securities Exchange (NSE) saw a steady decline in foreign investor participation to a record low of 30.1 percent…
Nigeria’s Domestic Trade Reached N980 billion in Three Months.
Total domestic transactions on the Nigerian Exchange Limited (NGX) for the first quarter (Q1) of 2023 finished at N986.21 billion…
In 12 years, NPA has Remitted more than N500 billion.
The Nation has learned that over the past 12 years, the Nigerian Ports Authority (NPA) has transferred more than N500…
Nigeria Loses Contracts for Gas Export Due to Inadequate Investment.
Nigeria has lost gas export contracts worth billions of dollars due to a lack of investment in the sector. It…
SEC Requests Investors to Call Attention to Illegal Fund Managers.
The Securities and Exchange Commission (SEC) has invited members of the public to report any fund manager who is operating…
250 Gas Stations are Run by TotalEnergies Using Solar Energy.
According to TotalEnergies, solar energy powers 50% of its more than 500 gas stations spread across the nation. Victor Bandele,…
Nigeria’s Gas Demand is Predicted to Increase by 50%.
The Nigerian Liquefied Natural Gas Limited predicts a 50% rise in gas demand in Nigeria over the next 30 years.…