Browsing Category
Local
Petrol scarcity: No respite as marketers run out of stock amid slump in imports
Nigeria's petrol scarcity crisis has deepened, with fuel marketers struggling to replenish their dwindling stock…
Equity market reverses loss with N117bn gain
The Nigerian Stock Exchange (NSE) rebounded on Thursday, recovering from the previous day's losses as investors…
Manufacturing grows by 1.28%
In the second quarter of 2024, Nigeria's manufacturing sector recorded a year-on-year growth of 1.28%, according…
CBN lifts suspension on bank borrowing, sets 31.75% lending rate
The Central Bank of Nigeria (CBN) has reinstated access to its Standing Lending Facility (SLF) following the…
Reps Uncover Over N500b In Unused TETFund For Nigerian Universities
The House of Representatives has pledged to address the challenges preventing Nigerian tertiary institutions from…
OVH Acquisition: CAC dissolves NNPC retail, Nueoil
The Corporate Affairs Commission (CAC) has dissolved NNPC Retail, the downstream arm of the Nigerian National…
NCC uncovers 100,000 SIM cards linked to one individual
The Nigerian Communications Commission (NCC) has uncovered a shocking case where over 100,000 Subscriber…
NNPC absorbing actual costs of petroleum products, says Tonye Cole
Tonye Cole, co-founder of Sahara Group, has highlighted the significant pressure on the Nigerian National…
Concerns as Emirates opens ticket booking in dollars
Stakeholders in Nigeria’s travel industry have expressed concern over Emirates' decision to price tickets on…
Africa’s poverty is man-made, not an act of God – Obasanjo
Former Nigerian President Olusegun Obasanjo recently highlighted the man-made nature of poverty in Africa,…
NUPRC rejects Shell’s $1.3bn onshore asset sale to Renaissance
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reportedly rejected Shell International Plc's…
Aviation minister signs MoU with Boeing to facilitate aircraft acquisition
Nigeria's Minister of Aviation and Aerospace Development, Festus Keyamo, signed a strategic Memorandum of…
Nigeria, Germany target over $500mn in energy deals in 2024
Nigeria and Germany plan to surpass last year’s $500 million in energy deals by targeting even larger agreements…
BREAKING: Currency outside bank drops to N3.66 trillion in July, biggest fall in…
In July 2024, the amount of currency outside Nigeria's banking system decreased to N3.66 trillion, marking a 3.32%…
EKEDC disconnects power supply from UNILAG
Eko Electricity Distribution Company (EKEDC) has disconnected the University of Lagos (UNILAG) from the power…
Nigeria, Belgium deepen bilateral ties
The Nigerian Ports Authority (NPA) and the Kingdom of Belgium have agreed to strengthen their bilateral…
Nigeria, Benin Republic open dry port trade office in Kano
Nigeria and Benin Republic have jointly opened the Tsamiya Dry Port Trade Office in Kano State to enhance regional…
Elumelu: Tenure limit for bank CEOs inspired Heirs Holdings formation
Tony Elumelu, Chairman of Heirs Holdings Group, revealed that the Central Bank of Nigeria’s (CBN) 2010 policy…
Govt sets Sept 14 deadline for SIM-NIN linkage
The Nigerian Communications Commission (NCC) has announced a new deadline for all mobile subscribers to link their…
Gas suppliers seek end to multiple taxation
The National Oil and Gas Suppliers Association of Nigeria (NOGASA) has called on the Federal Government to tackle…
NEPC reports $2.7bn in non-oil exports half year 2024
Nigeria's non-oil exports generated $2.7 billion in the first half of 2024, reflecting a 6.26% increase from the…
TGI Foods SPV launches N25bn commercial papers
TGI SPV Plc, a special purpose vehicle created by Tropical General Investments Group, has launched N25 billion in…
Without structural gaps, Nigeria’s GDP will grow by 5% – IMF
*The International Monetary Fund (IMF) stated that Nigeria's economy, currently growing at 3.19%, could reach a 5%…
External auditors to examine NNPC N2.6tn subsidy claim
The Federal Government of Nigeria is set to hire an external auditor to verify the N2.7 trillion fuel subsidy…
Reps promises to pass bill on electricity theft
The Chairman of the House of Representatives Committee on Privatisation and Commercialisation, Hamisu Ibrahim,…
AMCON set to sell Ibadan Disco
The Assets Management Corporation of Nigeria (AMCON) plans to sell the Ibadan Electricity Distribution Company…
Recapitalisation: ASHON accuses banks of sidelining stockbrokers
The Association of Securities Dealing Houses of Nigeria (ASHON) has accused banks of bypassing licensed…
Sony to raise PlayStation 5 price by 20% in Japan
Sony announced a 20% price increase for its PlayStation 5 (PS5) console in Japan, citing global economic…
Stock deals jump 44% on banks’ recapitalisation
In the first seven months of 2024, Nigerian equities market transactions increased by 44% compared to the same…
Naira closes at 1,596.60/$ as dollar liquidity declines
The naira closed at N1,596.60 per dollar on Monday, marking a 1.66% depreciation from Friday’s rate of N1,570.14…