Cashew farmers see low output on harsh harmattan
Cashew farmers in Nigeria anticipate a slight decrease in output for the 2024 season due to the severe harmattan season…
Category: Local
CBN’s policy reforms propel naira to high, but challenges remain
The Central Bank of Nigeria (CBN) has successfully implemented most of its long-awaited monetary policy reforms, providing a window of…
Indonesia reconsiders export regulations after business group raise concerns
Indonesia is reviewing regulations aimed at limiting imports of over 3,000 products, according to a senior trade ministry official. The…
United Capital Plc records 70.9 percent revenue increase
United Capital Plc, a prominent financial and investment services company in Nigeria, has experienced a remarkable surge in revenue, reaching…
Petrol queues returns as NNPC struggles to meet demand
Motorists in certain parts of Lagos encountered renewed queues at petrol stations on Thursday, attributed to challenges faced by the…
Nigeria’s raw material imports surge by 25%
In 2023, imports of raw materials into Nigeria witnessed a substantial increase of 25%, totaling N3 trillion, as per data…
Stock market sees investor losses on bearish trading
Stock investors faced losses totaling N252 billion as the Nigerian Exchange sustained a bearish trend on Thursday, continuing a decline…
Ekiti varsity unveils N1bn agro-tech fund
Dr. Tunji Olowolafe, the Chancellor of Ekiti State University, has announced the establishment of a N1 billion Innovation Fund aimed…
FG to issue foreign currency denominated bonds in June
The Federal Government has announced intentions to launch domestic bonds denominated in foreign currency in the second quarter of this…
Stanbic IBTC bank upgrades mobile app
Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, introduced an upgraded version of its mobile app tailored specifically for…
Less than 30% of taxable citizens pay tax in Nigeria
The Christian Aid UK Nigerian Programme has disclosed that less than 30% of taxable citizens in Nigeria contribute to tax…
ThinkBusiness Africa faults proposed sugar tax hike
ThinkBusiness Africa, an economic analysis and policy advocacy group, has raised concerns regarding the assertions made by the Corporate Accountability…
Customs Q1 revenue surpasses N1tn
The Nigeria Customs Service (NCS) has announced a significant increase in its revenue for the first quarter of 2024 compared…
SME agency tightens credit facility process for small businesses
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has implemented a new selection process for beneficiaries of its…
Nigeria’s business activity remains steady in March: Stanbic
According to the latest Purchasing Managers’ Index (PMI) published by Stanbic IBTC, business activities in Nigeria stayed unchanged in March,…
Transcorp plc reports 93% profit growth in 2023
Transnational Corporation Plc (Transcorp) witnessed a substantial increase in its profit before tax, soaring by 93.5% to N58.8 billion in…
Power outages hit Abuja, Lagos, and Nasarawa communities
Several communities in Abuja, Lagos, and Nasarawa are currently experiencing power outages as a result of technical glitches affecting transmission…
FX volatility forces 28 changes in Customs duty rate
The Nigeria Customs Service (NCS) is grappling with significant challenges due to instability in customs duty rates caused by fluctuations…
NERC announces tariff hike impacting over 1.9 million consumers
The Nigerian Electricity Regulatory Commission (NERC) has revealed that a total of 1,974,385 electricity consumers will be affected by its…
Dangote sugar refinery launches N50bn commercial paper offer
Dangote Sugar Refinery PLC (DSR) has introduced Series 2 and 3 Commercial Paper offers totaling up to N50 billion under…
Stock market starts week with bearish trend, investors lose N24.83
The Nigerian Exchange (NGX) All-Share Index began the week’s trading on a downward note, shedding 4 basis points to close…
CBN increases customs exchange rate by 2.1%
The Central Bank of Nigeria (CBN) has raised the exchange rate used to calculate Customs duties at the nation’s seaports…
MTN Nigeria seeks shareholders’ input In capital loss management
MTN Nigeria has announced plans to hold an extraordinary general meeting (EGM) with its shareholders later this month in Lagos.…
FX market roars back to life with $1bn single-day trade
On Tuesday, Nigeria’s foreign exchange market experienced its highest turnover in a single day since 2017, signaling a significant shift…
Dangote, Adenuga, others maintain top ranks on Forbes billionaire list
Despite economic challenges in the country, prominent Nigerian businessmen Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola have retained…
Naira appreciates to N1,270 in parallel market
Today, Tuesday, the Naira showed signs of appreciation against the dollar in both the parallel market and the Nigerian Autonomous…
Google settles lawsuit, agrees to destroy billions of data records
HeadlineGoogle has agreed to destroy billions of data records as part of a settlement to resolve a lawsuit alleging that…
Dry weather threatens Ivory Coast cocoa crop
Farmers in Ivory Coast, the world’s leading cocoa producer, are worried about their cocoa crop due to the lack of…
Over 100 companies benefit from tax exemption- NIPC
According to the Nigerian Investment Promotion Commission (NIPC), a total of 107 companies are currently receiving tax exemptions from the…
Alternative bank, TK Tech Africa set $500m digital sukuk partnership
The Alternative Bank and TK Tech Africa are teaming up to revolutionize financial technology and non-interest banking in Nigeria with…