Nigeria’s Unemployment Rate Rises to 4.2% in 2023
Nigeria’s unemployment rate has experienced a slight increase, rising to 4.2% in the second quarter of 2023 from 4.1% in…
Category: Local
Naira Falls at Official Market Despite Increased Dollar Supply
Despite a surge in dollar supply, the official foreign exchange market witnessed a depreciation of the Nigerian naira against the…
Port Harcourt Refinery Set to Commence Operations
The Port Harcourt Refinery, with a combined capacity of 210,000 barrels per day, is poised to begin operations today. The…
Flared Gas Worth N696 Billion Can Power Millions of Households
BusinessDay’s investigation reveals that Nigeria flared natural gas estimated at N696 billion within the first 11 months of this year.…
Nigeria’s Total Debt Rises Slightly, Reaches N88 Trillion
The Debt Management Office (DMO) report reveals a slight increase in Nigeria’s total public debt, reaching N87.91 trillion at the…
TotalEnergies Commits $6 Billion Investment in Nigeria for Offshore Oil and Gas Projects
TotalEnergies, the French multinational integrated energy and petroleum company, has pledged a significant investment of $6 billion in Nigeria to…
NAFDAC Director-General Highlights Challenges in the Fight Against Fake Products
Moji Adeyeye, the Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), has revealed that inadequate…
Delta State Government, NNPC, and UTM Offshore Sign Historic Agreement for Nigeria’s First Floating LNG Project
Delta State Government, Nigerian National Petroleum Company Limited (NNPC), and UTM Offshore Ltd have officially signed a Shareholders Agreement for…
Bismarck Rewane Forecasts 3.3% Economic Growth for Nigeria in 2024
Bismarck Rewane, the Chief Executive Officer at Financial Derivatives Company, has made a projection that Nigeria’s economy is set to…
Tony Elumelu-Backed Firms Lead in Stock Returns on NGX in 2023
Among the 30 most capitalized companies on the Nigerian Exchange Limited (NGX), entities associated with billionaire businessman Tony Elumelu have…
Presidential Initiative: N75 Billion MSME Loans Disbursement Set to Begin in January 2024
In a strategic collaboration between the Presidency and the Bank of Industry (BOI), a groundbreaking initiative is set to unfold…
Naira Resilience and Stock Market Surge: Exploring Factors Amidst Federal Government’s Digital FX Plans
Amidst the Federal Government’s plans to digitize foreign exchange (FX) transactions, the Nigerian Naira has exhibited resilience at the parallel…
NCC Mandates Full SIM Blockage: Nigeria’s Telecom Operators Set to Enforce NIN Compliance
The Nigerian Communications Commission (NCC) has issued a directive to telecommunications operators, including MTN, Airtel, Glo, and 9mobile, to implement…
Nigeria Labour Congress Raises Alarm Over Cash Scarcity, Threatens Public Protest
With just five days to Christmas, the Nigeria Labour Congress (NLC) has voiced concerns over the prolonged cash scarcity in…
Dangote Oil Refinery Receives Two Million Barrels of Crude, Set to Commence Production
The Dangote Oil Refining Company, a $19 billion project, is on the brink of commencing petroleum product production with the…
Peter Obi Advocates Attracting Foreign Investors Over Chasing Them: A Counter Perspective to Nigeria’s Investment Approach
The presidential candidate of the Labour Party, Peter Obi, has expressed his view that Nigeria should focus on attracting foreign…
Joint National Assembly Committee Fast-Tracks 2024 Budget Passage: N27.5 Trillion Set for Approval
The Joint National Assembly Committee on Appropriation has announced its commitment to passing the 2024 appropriation bill before the week…
President Tinubu Mediates Political Crisis in Rivers State: Stakeholders Sign Peace Agreement
President Bola Tinubu took proactive steps to address the political crisis in Rivers State by convening a meeting with key…
SEC Charges Tingo Group CEO for Fabricating Financial Statements and Insider Trading
The Securities and Exchange Commission (SEC) in the United States is set to bring charges against Dozy Mmobuosi, the CEO…
President Tinubu Pledges to Enhance Nigeria’s Investment Climate: Total Energies Plans $6bn Investment in Oil and Gas Sector
President Bola Tinubu has assured the international investment community of his administration’s commitment to position Nigeria as a top-level destination…
President Tinubu Inaugurates NNPCL Board with Emphasis on Performance and Corporate Social Responsibility
President Bola Tinubu has officially inaugurated the 11-man Board of the Nigerian National Petroleum Company Limited (NNPCL) with a stern…
Power Sector Challenges Persist: Nigerian Discos Achieve 79% Billing Efficiency in Q3, but ATC&C Losses Remain a Concern
The Nigerian Electricity Regulatory Commission (NERC) has released its Q3 quarterly report, revealing that Electricity Distribution Companies (Discos) collected N267.6…
MTN Nigeria Successfully Raises N72.1 Billion in Series 10 Commercial Paper Issuance
MTN Nigeria Communications Plc has announced the successful completion of its Series 10 Commercial Paper issuance, surpassing its initial target…
NGX Targets Younger Investors: Financial Literacy Campaign Aims to Empower Gen Zs and Millennials
The Nigerian Exchange (NGX) is proactively reaching out to younger investors, unveiling plans to engage and attract Gen Zs and…
Stock Market Edges Up 0.02% on Surge in Buying Interest: Transcorp Hotels and Others Lead the Charge
The Nigerian Exchange Limited (NGX) witnessed a modest positive start to the week, with the stock market gaining 0.02% fueled…
Nigeria’s Inflation Hits 28.20% in November, Highest Since 2016
Nigeria’s annual inflation has surged to 28.20% in November, up from 27.33% in October, as reported by the country’s bureau…
Foreign Investors Crucial as Nigeria Grapples with Economic Challenges
Despite its sizable population, Nigeria’s contribution to the total revenues of multinational corporations operating within its borders is remarkably modest,…
Nigeria’s Naira Devaluation Fails to Boost Non-Oil Exports, Highlighting Structural Challenges
Despite the significant devaluation of the Nigerian naira since June, the country’s non-oil exports remain stagnant, revealing structural challenges that…
Pension Fund Mortgage Initiative Gains Traction: N14.83 Billion Approved for 1,371 Contributors
A pioneering initiative allowing pension contributors to utilize a portion of their Retirement Savings Account (RSA) balance for residential mortgages…
CBN Considers Fintech-Specific Corporate Governance Guidelines to Tackle Growing Fraud
The Central Bank of Nigeria (CBN) is reportedly contemplating the implementation of fintech-specific corporate governance guidelines as part of its…