China-Nigeria Bilateral Trade Volume Reaches $17.25 Billion in First Three Quarters of 2023
The Consul General of China in Lagos, Yan Yuging, has revealed that the bilateral trade volume between China and Nigeria…
Category: Local
Spanish Navy Renews Commitment to Collaborate with Nigerian Navy in Gulf of Guinea
The Spanish Navy has expressed its dedication to working in partnership with the Nigerian Navy to address maritime security challenges…
Nigeria’s Top Banks Experience Surge in Customer Deposits Amidst Increased Money Supply
Nigeria’s five largest banks have witnessed a notable surge in customer deposits this year, outpacing the growth seen in the…
Central Bank of Nigeria Reassures Availability of Cash, Affirms Legal Tender of All Banknotes
The Central Bank of Nigeria (CBN) has issued a statement assuring the public of the continued availability of various denominations…
MTN Expects Nigeria’s Economic Reforms to Yield Growth by Mid-2024
MTN Group Ltd., Africa’s largest wireless company, anticipates that Nigeria’s economic reforms, spearheaded by President Bola Tinubu, will result in…
Nigeria Considers Using NLNG Dividends to Bolster Economy and Naira Value
The Bola Ahmed Tinubu-led federal government in Nigeria is exploring the possibility of utilizing dividends earned from the Nigeria Liquefied…
Nigeria’s Maritime Security Crucial for Tapping into $2.5 Trillion Blue Economy Opportunities
Bashir Jamoh, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), emphasized the pivotal role of maritime security…
Revitalizing Nigeria’s Oil and Gas Sector: Challenges and Imperatives
The Nigerian government is pinning hopes on the oil and gas sector to stabilize the devalued naira, but the industry…
Revitalizing Nigeria’s Oil and Gas Sector: Challenges and Imperatives
The Nigerian government is pinning hopes on the oil and gas sector to stabilize the devalued naira, but the industry…
Nigeria’s High Drug Import Tariffs: A Barrier to Essential Medicines for Non-Communicable Diseases
Steep tariffs on imported drugs in Nigeria are driving up prices, making essential medicines for non-communicable diseases unaffordable for many.…
African Startup Funding Sees Decline in October, Nigeria Lags Behind Peers
Funding activity for startups in Africa, particularly Nigeria, witnessed a decline in October. While there was a modest month-on-month increase…
Atedo Peterside Criticizes Nigerian Government’s Lavish Spending Amid Economic Crisis
Atedo Peterside, in an exclusive interview with BusinessDay, has voiced his criticism of the Nigerian government’s extravagant spending habits, particularly…
MeCure Industries Set to List 4 Billion Shares on NGX, Boosting Market Capitalization by N11.84 Billion
Leading pharmaceuticals and nutraceuticals manufacturing company, MeCure Industries Limited, is gearing up for a significant listing on the Nigerian Exchange…
Berger Paints Nigeria PLC Demonstrates Resilience Amid Challenges, Promises Stronger Engagement with Capital Market Community
Berger Paints Nigeria PLC (BPN) Plc, a prominent manufacturer of paints and allied products, has reassured the capital market community…
Nigeria’s Equities Market Commences the Week on a Positive Note, Gaining N155 Billion
On Monday, November 6, Nigeria’s equities market started the week on a positive trajectory, surging by 0.40 percent. This upbeat…
Peter Obi Expresses Disappointment in Supreme Court’s Ruling on Presidential Election
Peter Obi, the presidential candidate of the Labour Party (LP) in the 2023 election, has voiced his disappointment with the…
Mobile Money Agents Surge in Nigeria, Boosting Financial Inclusion
A recent report by the International Monetary Fund (IMF) reveals a substantial increase in registered mobile money agent outlets in…
Nigeria’s Federal Government Borrowing from Central Bank Hits ₦4.36 Trillion
Data shows that Nigeria’s federal government borrowed ₦4.36 trillion from the Central Bank of Nigeria (CBN) as of June, a…
Naira Loses 4.24% Against the Dollar Due to Declining Dollar Supply
The Nigerian Naira has experienced a 4.24% loss in value against the US Dollar at the official market due to…
Banks’ Borrowings from Central Bank of Nigeria Surge 466% YoY Due to Increased Currency Holdings
Banks’ borrowings from the Central Bank of Nigeria (CBN) through the Standing Lending Facility (SLF) have seen a significant year-on-year…
Over N4.3tn Worth of Crude Oil Stolen in 7,143 Pipeline Vandalism Cases in 5 Years
The Nigerian government has revealed that more than N4.3 trillion worth of crude oil was stolen in 7,143 pipeline vandalism…
Unveiling Equipment Leasing Registration Authority: A Boost to Revenue Generation
The Nigerian government is set to introduce the Equipment Leasing Registration Authority (ELRA) with the aim of tapping into the…
Challenges Persist in Nigerian Power Sector Despite Multi-Trillion Naira Investments
Despite the federal government’s substantial investments exceeding N3 trillion in the power sector between 2015 and 2022, new data from…
Nigeria’s Creative Industry Poised to Drive $100 Billion to GDP by 2030, Says U.S. Department of State
The Assistant Secretary for the Bureau of Economic and Business Affairs at the U.S. Department of State, Ramin Toloui, has…
Dangote and BUA Trade Words, Renewing Rivalry
After a brief truce brokered by former Kano State governor Abdullahi Ganduje, Aliko Dangote, President of Dangote Group, and Abdussamad…
GlaxoSmithKline Consumer Nigeria Announces Scheme for Shareholder Dissolution
GlaxoSmithKline Consumer Nigeria Plc has proposed a Scheme of Arrangement for the dissolution of the company, following the UK-based pharmaceutical…
Nigeria’s Market Interest Rates Rise, Reigniting Foreign Investor Interest
Nigeria is re-emerging as an attractive destination for foreign investors following a rise in market interest rates and steps to…
Diezani Allison-Madueke Seeks Prayers as UK Court Hears Bribery and Corruption Case
Former Minister of Petroleum Resources, Diezani Allison-Madueke, appeared before a Southwark Crown Court judge in the UK over a case…
Businessman Chief Cletus Ibeto Faces Bench Warrant for Alleged N4.8 Billion Fraud
Justice I.O. Ijelu of the Lagos State High Court issued a bench warrant for businessman Chief Cletus Ibeto’s arrest after…
President Bola Tinubu May Reshape Cabinet as Ministerial Retreat Concludes
President Bola Tinubu may consider reshaping his cabinet following the conclusion of a three-day Ministerial retreat. The President’s recent appointment…