Nigeria Labor Congress to Present Revised Minimum Wage Proposal
The Nigeria Labour Congress (NLC) is expected to present a new proposal for a minimum wage increase at a meeting…
Category: Local
UBA appoints Emmanuel Nnorom as non-executive director
The United Bank for Africa (UBA) has appointed Emmanuel Nnorom as a new non-executive director to its board. Nnorom’s appointment,…
Brewers post N170bn loss on weaker naira, rate hikes
Nigeria’s major brewers face financial difficulties after a combined loss of N169.7 billion in the first quarter of 2024. This…
TotalEnergies Snubs Nigeria Again, Invests $600 Million in Congo’s Oil Industry
French oil giant TotalEnergies has passed over Nigeria for a second time, opting to invest $600 million in the Republic…
Royal Electronics launches new products in Nigeria
Royal Electronics is bringing a wave of innovation to Nigerian homes with the launch of five new product categories. These…
Telecom Investments Pay Off: Data Revenues Soar in Nigeria
Nigeria’s telecommunications industry is reaping the rewards of significant investments in network infrastructure. MTN and Airtel, the country’s leading mobile…
CBN Director Celebrated for 35 Years of Service
The Central Bank of Nigeria (CBN) has commended Clement Oluwaranti Buari, Director of Strategy Management, for his 35 years of…
UBA Announces Over N2trn Revenue, N607.69bn Profit
The United Bank for Africa (UBA) has announced a stellar performance for the 2023 financial year, achieving record highs in…
MPC: Stock investors maintain cautious stance, lose N290bn
Nigerian stock market investors are feeling the pinch after the recent Monetary Policy Committee (MPC) meeting. Analysts predict continued asset…
NECA Rejects N500,000 Minimum Wage Demand
The Nigeria Employers’ Consultative Association (NECA) has rejected the Nigerian Labour Congress’ (NLC) demand for a N500,000 minimum wage, stating…
Consumers fault Discos as meter price hits N147,000
Nigerians are facing a new challenge in their quest for prepaid electricity meters. Following deregulation by the Nigerian Electricity Regulatory…
Brazil’s Petrobras approves Chambriard as new CEO
Brazil’s state-owned oil giant Petrobras has a new leader: Magda Chambriard. Her appointment follows the unexpected dismissal of previous CEO…
CBN’s 26.25% interest rate will compound high cost of doing business in Nigeria – MAN
The Manufacturers Association of Nigeria (MAN) is expressing strong concerns over the Central Bank of Nigeria’s (CBN) recent decision to…
Landmark Beach Demands N42 Billion Compensation After Demolition
The management of Landmark Beach is seeking N42 billion in compensation from the Nigerian Federal Government following the demolition of…
AfDB Pours $1.44 Billion into Nigeria’s Infrastructure Development
The African Development Bank (AfDB) is stepping up its support for Nigeria’s infrastructure needs with a significant investment of $1.44…
Social economic problems may push 51.6% males to migrate — NBS survey
A new report by the National Bureau of Statistics (NBS) paints a concerning picture of potential migration trends in Nigeria.…
Prices of basic food items rise 140% — NBS
Nigerians are facing a significant rise in food prices, according to the latest report by the National Bureau of Statistics…
Dangote Calls for More Investment in Africa’s Industries, Not Just Resources
Aliko Dangote, president of Dangote Industries Limited, is urging increased investment in African industries. Speaking at the Africa CEO Forum…
Kerosene Prices Jump to N1,439.64/ltr: North Central Hit Hardest
The cost of kerosene, a vital fuel for many Nigerian households, has risen significantly. According to the National Bureau of…
Manufacturer’s Confidence on the Rise in Nigeria
Nigeria’s manufacturing sector is showing signs of optimism for the first time in nearly two years. A survey by the…
Ajaokuta steel revival attracts $10 billion investment, says Minister Audu
There’s good news for Nigeria’s steel industry! The government has reportedly secured potential investments totaling $10 billion to revitalize the…
Tier-1 Nigerian banks earn N392 billion from electronic business
Nigeria’s top tier-1 banks are reaping significant rewards from the growing popularity of electronic transactions. These banks, including UBA, Access…
International Breweries Gets SEC Nod for N588 Billion Rights Issue to Ease Debt Burden
International Breweries has secured approval from the Nigerian Securities Exchange Commission (SEC) to proceed with its planned rights issue. This…
Nigerian businesses need single-digit interest rate to grow economy – CPPE
Nigeria’s central bank (CBN) has raised interest rates for the third time in 2024, in a bid to control high…
BoI Disburses N496bn To MSMEs, Creates 2m Jobs
Nigeria’s Bank of Industry (BoI) defied economic downturn by disbursing N496 billion to bolster Micro, Small and Medium Enterprises (MSMEs).…
Jaiz Bank Posts N11bn Profit Before Tax
Jaiz Bank Plc announced impressive financial results for 2023 and the first quarter of 2024. Their profit before tax reached…
Azura Power Launches 20kW Solar System To Commemorate Children’s Day
Azura Power West Africa is bringing the light of education to the Knosk Charity School in Kuje with a 20…
AIMAN Seeks Review Of 50% IGR Deduction From Aviation Agencies
The Aeronautical Information Management Association of Nigeria (AIMAN) is lobbying for the Nigerian Airspace Management Agency (NAMA) to be exempt…
Nigerian Treasury Bill Rates Unresponsive to CBN Interest Hike
Despite a recent hike in interest rates by Nigeria’s Central Bank, rates on one-year treasury bills remained nearly unchanged at…
Nigeria’s $1trn transactions to get new AI-based defence
Nigeria is stepping up its fight against financial fraud as the volume of electronic transactions explodes. With over N1.55 quadrillion…