Nigeria’s gas export drops 25% on low output, exits
Nigeria’s gas exports have decreased by 25% to their lowest level in three years, mirroring a similar decline in the…
Category: Local
Naira Depreciates by 0.71% Against Dollar
On Tuesday, the naira faced renewed pressure in the official foreign exchange market, depreciating by 0.71% against the dollar. The…
FEC Steps Down Minimum Wage Memo for Further Consultations by President Tinubu
On Tuesday, the Federal Executive Council (FEC) decided to step down the minimum wage memo to allow President Bola Tinubu…
Kogi IGR Increases To N23.5bn
Kogi State’s internally generated revenue (IGR) has increased from N6.5 billion to N23.5 billion annually over eight years, according to…
NSIA Announces 26 Start-Ups For $220,000 Accelerator Prize For Innovation
The Nigeria Sovereign Investment Authority (NSIA) has revealed the 26 start-ups advancing to the accelerator stage of the NSIA Prize…
Access Bank Launches Season 6 of Womenpreneur Pitch-A-Ton Programme
Access Bank has opened registration for the sixth season of its Womenpreneur Pitch-A-Ton programme, aiming to inspire, connect, and empower…
Sterling HoldCo Gets Shareholders Approval to Raise N200bn Fresh Capital
At its inaugural Annual General Meeting (AGM), major shareholders of Sterling Financial Holdings Company Plc. approved a management decision to…
Pensioners with Heritage Bank to provide accounts
The Pension Transitional Arrangement Directorate (PTAD) has requested Defined Benefit Scheme (DBS) pensioners with accounts in Heritage Bank to provide…
World Bank Allocates $45.5M to Nigeria’s NIMC for Digital ID Project
The World Bank has disbursed $45.5 million to Nigeria’s National Identity Management Commission (NIMC) under the Digital Identification for Development…
Salpha Energy gets €25,000 grant for Ashden Award
Salpha Energy has been awarded a €25,000 grant for winning the 2024 Ashden Award for Energy Innovation, supported by the…
FG tackles revenue leakage, deploys Central Disbursement Solutions
The Federal Government of Nigeria is launching a new revenue management system called ‘Revenue Assurance and Central Disbursement Solutions’ to…
Crypto Traders Lose Over $280m
The cryptocurrency market is facing significant losses after its second-worst weekly decline in 2024, with Bitcoin’s price dropping nearly 5%…
Annual Report: NGX Slams N76.8m Fine On 9 Firms
The Nigerian Exchange Limited (NGX) has fined nine listed companies a total of N76.8 million for failing to submit their…
Shoprite to Close Novare Central Mall Branch in Abuja by June 2024
Shoprite Mall has announced it will cease operations at its Novare Central Mall branch in Wuse Zone 5, Abuja, effective…
APM Terminals Recycles Used Tyres Into Footwear
Determined to tackle the issue of used tyres littering Lagos, transport and logistics giant APM Terminals has begun recycling its…
RT Briscoe To Raise N10bn With Investment Scheme
RT Briscoe has launched a flexible investment plan aimed at supporting its 43,000 shareholders, mostly retired individuals, to invest in…
Dangote Oil Refinery Faces Delay in July Launch Due to Crude Shortage
Dangote Oil Refinery’s much-anticipated entry into the petrol supply market in July might face delays due to a shortage of…
CBN grants IMTOs naira access to boost remittances
The Central Bank of Nigeria (CBN) has announced new measures aimed at enhancing naira liquidity and increasing diaspora remittances. According…
BDC Operators Struggle with New CBN Guidelines
Bureau De Change (BDC) operators in Nigeria have yet to comply with the new operational guidelines issued by the Central…
Business registration possible in 24 hours, says CAC ambassador
The Corporate Affairs Commission (CAC) has introduced a Special Registration Portal (SRP) that enables business registration within 24 hours, according…
Dangiwa Elected Chair of African Ministers’ Housing Financial Caucus
Ahmed Dangiwa, the Minister of Housing and Urban Development, has been elected as the first chairman of the Financial Caucus…
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%…
Caverton Offshore loss worsens to N12bn
Caverton Offshore Support Group’s losses after tax worsened by 146.79% to N12.75 billion at the end of 2023, compared to…
High food prices persist despite N1.25tn agriculture budget
Farmers and stakeholders have criticized the rising food prices in Nigeria, despite the federal government allocating over N1.25 trillion to…
Naira sells 1,485/dollar as official forex market records $23bn
Forex turnover in Nigeria’s official market surged to $23.29 billion over six months, driven by Central Bank of Nigeria reforms.…
NOVA Merchant Bank Transitions to Commercial Bank
NOVA Merchant Bank Limited has obtained approval to transition into a national commercial bank, announced Phillips Oduoza, the Board Chairman.…
Airport extortion beyond aviation ministry’s control – Keyamo
The Minister of Aviation and Aerospace Development, Festus Keyamo, acknowledged that the problem of extortion by officials at Nigeria’s airports…
NNPC shifts $700m gas pipeline delivery date to August
The Nigerian National Petroleum Company Limited (NNPC) has postponed the completion date of the $700 million Obiafu-Obrikom-Oben (OB3) gas pipeline…
Nigeria Spends $15.55bn on Debt Servicing Over Five Years
The Federal Government of Nigeria spent $15.55 billion on debt servicing between 2019 and 2024, according to data from the…
Dangote accuses IOCs of plotting failure of its refinery
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, has accused International Oil Companies (IOCs) in Nigeria…