Petrol Price: Marketers set to import cheaper products
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has emphasized its intention to import premium motor spirit (PMS),…
Category: Finance
Nigeria’s Foreign Exchange Market Faces Ongoing Challenges Despite Recent Measures
Despite efforts by the Central Bank of Nigeria (CBN) to stabilize the foreign exchange (FX) market, Fitch Ratings reports that…
Access Holdings grows revenue by 114.5% to N3.4tr in Q3
Access Holdings Plc, the parent company of Access Bank Nigeria, reported a remarkable 114.5% year-on-year increase in gross revenue to…
Nigerian Per Capita Income Drops 72.8% to 20-Year Low Amid Policy Missteps
Nigeria’s per capita income has plummeted by 72.8% since 2014, hitting its lowest point since 2004. This stark drop, attributed…
Government allocates N18bn compensation for Lagos-Calabar highway
The Nigerian Minister of Works, David Umahi, announced that N18 billion has been allocated to compensate property owners affected by…
Legal attacks are slowing SEC rulemaking in a crucial election year
The U.S. Securities and Exchange Commission (SEC) has experienced a significant slowdown in rulemaking since President Biden took office, primarily…
Robinhood shares drop as growth push takes a toll on Q3 results
Robinhood Markets, Inc. saw its shares plummet nearly 11% before the market opened on October 31, following a strong performance…
Credit to government jumps 90% to N42trn amid rising money supply
In September 2024, Nigeria’s money supply reached an unprecedented N109 trillion, marking a 1.68% increase from the previous month and…
Nigerian Breweries Reports 75% Revenue Growth Amid Economic Challenges
Nigerian Breweries Plc has announced a remarkable 75% increase in revenue for the nine months ending September 30, 2024, reaching…
CBN, IFC to provide $1bn funding options to Nigerian businesses
The International Finance Corporation (IFC), the private sector arm of the World Bank, has signed an agreement with the Central…
Insurance Industry Key to Nigeria’s Economic Transformation, NIA Chairman
The Chairman of the Nigerian Insurers Association (NIA), Mr. Kunle Ahmed, emphasized the critical role that the insurance industry plays…
Business Journal summit to highlight insurance’s role in economic growth
The Business Journal Annual Lecture 2024 is set to highlight the critical role of the insurance industry in catalyzing sustainable…
Inflation Leads To Manufacturers Collapse And Out Of Jobs
Nigeria’s manufacturing sector is grappling with severe challenges, including rising energy costs, aggressive production expenses, and logistical constraints. Energy prices,…
CBN verifying disputed $2.4bn FX claims – Cardoso
The Central Bank of Nigeria (CBN) has launched a re-validation process to address complaints from manufacturers and importers regarding foreign…
Cash transfer: FG releases N24bn to 991,261 households
The Nigerian government has given out N24.78 billion to help 991,261 poor families across the country. This is part of…
Regency Alliance grows profit to N1.93bn
Regency Alliance Insurance Plc reported a 225% increase in profit after tax for the year ending December 31, 2023, reaching…
Nigeria’s NLNG dividend falls 43% on gas constraints
Nigeria’s revenue from Nigeria Liquefied Natural Gas (NLNG) Limited has dropped by 43% due to persistent gas supply issues. In…
Nissan shares plunge after profit warning
Nissan shares tumbled over 10% after issuing a profit warning due to fierce sales competition, particularly in the United States.…
FG’s deficit spending falls 29% to N2.83trn in Q1’24
The Federal Government of Nigeria reduced its deficit spending by 29% in the first quarter of 2024, bringing the deficit…
Consolidated Hallmark Holdings grows revenue by 32%
Consolidated Hallmark Holdings Plc has announced a robust financial performance for the year 2023, achieving a 32% increase in revenue…
FBN Holdings gross earnings soared by 181% in Q1
FBN Holdings reported a significant 181.43% increase in gross earnings to N1.60 trillion for Q1 2024. Interest income contributed 60%…
Citigroup Eyes European Expansion Despite Political Instability
Citigroup (C.N) is poised to expand its business in Europe despite the continent’s political volatility, which has deterred investors, according…
Walmart Ditches Capital One as Credit Card Issuer After Service Issues
Walmart is severing its partnership with Capital One, which issued its store-branded credit cards since 2019. This decision comes after…
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…
Lagos generated N300m from Land Use charge in four months – Commissioner
The Lagos State Government has announced that it earned N300 million in revenue from the Land Use Charge in the…
FG expects $2.2 billion World Bank loan and AfDB budget
The Federal Government of Nigeria anticipates receiving a $2.2 billion single-digit interest loan from the World Bank and additional budget…
NDIC calls on EFCC to return recovered funds
The Nigeria Deposit Insurance Corporation (NDIC) has urged the Economic and Financial Crimes Commission (EFCC) to return recovered funds to…
FG Vows Effective Implementation of Pension Reforms
The Director-General of the Bureau of Public Service Reforms (BPSR), Mr. Dasuki Arabi, has provided assurance that retirees will reap…