International Breweries Supports Climate Action with Gas-Powered Trucks
International Breweries Plc has started using gas-powered vehicles to transport its products around the nation as part of its ongoing…
Category: Business
N1trn Debt Payment, Gas Supply, Others Top Gencos’ Agenda for Incoming Govt
The next president should give special attention to a number of challenges that Power Generating Companies (Gencos) have outlined that…
Despite Europe’s Need for Spot Supply, Nigeria’s LNG Production Remains Weak
According to a Natural Gas Intelligence (NGI) report, the six-train Nigeria LNG (NLNG) facility on Bonny Island has been producing…
SEC Rejects Nigerian Enamelware’s Debt Conversion, Bonus Shares
Nigerian Enamelware Plc’s attempt to convert a significant shareholder’s debt to equity was denied by the Securities and Exchange Commission…
NEXIM, Navy, and NIWA Unveil River Navigation Charts, Providing a Boost to the $61.5M Sealink Project
The release of navigational charts for the lower River Niger has boosted the $61.5 million regional Sealink project being promoted…
Manufacturers Seek Access to Loans
The Manufacturers Association of Nigeria, which represents manufacturing CEOs, claims that the difficulty in obtaining loans has stifled the expansion…
Manufacturers Claim a 25% Decline in Sales Due to a Cash Shortage.
According to manufacturers, the prolonged shortage of naira notes has caused a 25% decline in sales of manufactured items. The…
FG Names the Top Five Agencies for Business Efficiency.
The top five business-efficient and transparent agencies among the federal government’s Ministries, Departments, and Agencies for the year 2022 were…
Private Sector Blames the Naira Crisis for the Increase in Inflation to 21.9%.
The naira redesign strategy, which was intended to collect cash and reduce the amount of extra money in circulation, caused…
DMO Reopens and Sells Four N360bn FGN Bonds in March
The Debt Management Office (DMO) opened an auction for the purchase of four Federal Government of Nigeria (FGN) Bonds worth…
Pfizer To Pay $43 billion to Buy Seagen
The multinational biotechnology business Seagan Inc. and the pharmaceutical behemoth Pfizer have agreed to combine for $43 billion, or $229…
US Bank Failure Might Have an Impact on Nigerian Businesses – Operators
Iyinoluwa Aboyeji, the founder and CEO of Future Africa, claims that the failure of SVB may have an effect on…
Imports of Raw Materials Jump to N2.4tn in Nigeria – NBS
The report also revealed that Nigeria exported raw commodities worth N1 trillion, resulting in a N1.4 trillion imbalance over the…
Shell Reported a Substantial Decrease in Oil spills in Nigeria Following the Shutdown.
In 2022, Shell (SHEL.L) reported a substantial decline in the amount of oil spilled due to sabotage in Nigeria’s oil-rich…
Revenue From VAT And CIT Increased By 33% To N4.92 trillion in 2022.
Value Added Tax and Business Income Tax revenues increased by 33% YoY to N4.92 trillion in 2022 from N3.68 trillion…
MTN Nigeria Raises N125bn Through Commercial Papers.
To increase its short-term operating capital and finance requirements, MTN Nigeria obtained N125 billion through the issue of commercial papers.…
AfricInvest buys stake in Justrite
AfricInvest Fund IV has acquired a small interest in the Nigerian retailer Justrite Superstore, this action would enable Justrite to…
Anchor Debtors: CBN Criticizes IMF’s Low Rating
According to information provided by the Central Bank of Nigeria, farmers have paid back N503 billion, or 52.39 percent, of…
Local Investors Dominate International Competitors As Transactions Totaled N170bn.
Domestic investors outperformed their international counterparts on the Nigerian Exchange Limited, with a total value of transactions of N170.20 billion…
According To PenCom, N24bn Was Recouped From Defaulting Employers.
The Nigerian Pension Commission claims that it has recouped N24.15 billion in employee pension deposits that were not submitted by…
FG Distributes N30bn In Grants To Export Businesses.
The Federal Government has given the go-ahead for 199 exporting enterprises to get promissory notes totalling N308, 458, 160, 546.41.…
Over The Election Period, Business Activity Decreased To A Three-year Low.
S&P Global’s Purchasing Managers’ Index shows that Nigeria’s PMI decreased from 53.5 the previous month to 44.7 in February. From…
Capital Market: SEC, NAIC To Expand Trading In Commodities
In order to strengthen the commodities trading ecosystem, the Securities and Exchange Commission (SEC) has reiterated its willingness to collaborate…
Nigeria And PAPSS Sign Agreement To Accelerate International Trade
The Nigerian Exchange Limited (NGX) and the Pan-African Payment and Settlement System (PAPSS) of the African Export-Import Bank (Afreximbank) have…
New Automobile Product From Mikano
Changan Auto, a brand-new product from Mikano Motors, has entered the Nigerian car industry. In response to the success of…
BuuPass Raises $1.3M to Expand Africa’s Mobility Sector Digitization.
In Kenya, the bulk of operators, particularly those in the road transportation industry, still insists that customers physically book tickets…
Cleantech Qotto Launches Growth Strategy with $8M Investment.
The IBL group, a $1 billion conglomerate with operations in a number of industries, including energy, financial services, logistics, distribution,…
IFC, DEG, Yellowwoods, and Others Backed Naked’s Series B.
A South African insurtech firm called Naked Insurance has acquired $17 million in Series B funding led by the International…
Group’s Investments are Brought Together Under the New Axian Units.
Axian Group has revealed a new investment division intended to support Africa’s early-stage tech businesses. Axian Investment, the newly created…
Returning and New Investors Support Smile’s Series B $20m Round.
In an expanding fintech market like that of Africa, the significance of KYC and identity verification cannot be overstated. Strict…