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Category: Local

EIB Commits $40 Million to Acre Impact Capital’s Climate-Infrastructure Fund in Africa
Local

EIB Commits $40 Million to Acre Impact Capital’s Climate-Infrastructure Fund in Africa

The European Investment Bank (EIB) has pledged up to $40 million to Acre Impact Capital’s Export Finance Fund I, the…

byayotilewaJuly 24, 2023July 24, 2023
Dana Air to Train Over 50 Corps Members and Interns as Part of CSR Initiative
Local

Dana Air to Train Over 50 Corps Members and Interns as Part of CSR Initiative

Dana Air, a prominent Nigerian airline, has unveiled a comprehensive Corporate Social Responsibility (CSR) program aimed at absorbing and training…

byakintundeJuly 21, 2023July 21, 2023
Nigerian Government Records Highest Revenue Allocation in June 2023, Shares N907.054bn
Local

Nigerian Government Records Highest Revenue Allocation in June 2023, Shares N907.054bn

In what is described as a revenue windfall, Nigeria’s federal, state, and local government councils shared a total of N907.054…

byakintundeJuly 21, 2023July 21, 2023
Rising Maize Prices Threaten Poultry Farms in Delta State, Nigeria
Local

Rising Maize Prices Threaten Poultry Farms in Delta State, Nigeria

The soaring cost of maize, a major component of poultry feeds, is leading to the closure of farms in Delta…

byakintundeJuly 21, 2023July 21, 2023
Ecobank appeals Honeywell’s N72bn court judgement
Local

Ecobank appeals Honeywell’s N72bn court judgement

Ecobank Nigeria Limited has appealed the ruling of the Federal High Court in Lagos, which ordered the bank to pay…

byakintundeJuly 20, 2023July 20, 2023
NECA Calls on Nigerian Government to Develop Implementable Economic and Industrial Policies
Local

NECA Calls on Nigerian Government to Develop Implementable Economic and Industrial Policies

The Nigeria Employers’ Consultative Association (NECA) has urged the Federal Government to formulate and implement implementable economic and industrial policies…

byakintundeJuly 20, 2023July 20, 2023
IMF Reports a Strong Dollar’s Impact on Emerging Economies, Including Nigeria
Local

IMF Reports a Strong Dollar’s Impact on Emerging Economies, Including Nigeria

The International Monetary Fund (IMF) revealed that a 10% appreciation in the US dollar, driven by global financial market forces,…

byakintundeJuly 20, 2023July 20, 2023
Fluctuations in FX Rate Trigger Petrol Price Increase, Says Oil Marketers Association
Local

Fluctuations in FX Rate Trigger Petrol Price Increase, Says Oil Marketers Association

The Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Mr. Olumide Adeosun, revealed that fluctuations in the foreign…

byakintundeJuly 20, 2023
Nigeria Faces Protests and Discontent as Petrol Price Soars Following Subsidy Removal
Local

Nigeria Faces Protests and Discontent as Petrol Price Soars Following Subsidy Removal

The Nigeria Labour Congress (NLC) issued a warning, stating that it might withdraw from talks with the federal government over…

byakintundeJuly 19, 2023July 19, 2023
Nigerian Ports Authority Records Impressive Revenue in First Half of 2023
Local

Nigerian Ports Authority Records Impressive Revenue in First Half of 2023

The Nigerian Ports Authority (NPA) has announced a total revenue of N191,430,093,501.00 generated from its operations in the first half…

byakintundeJuly 19, 2023July 19, 2023
Central Bank of Nigeria Reduces Approved Bureau de Change Dealers
Local

Central Bank of Nigeria Reduces Approved Bureau de Change Dealers

The Central Bank of Nigeria (CBN) has published an updated list of approved Bureau de Change (BDC) dealers in the…

byakintundeJuly 19, 2023July 19, 2023
Nigerian House of Representatives to Investigate Non-Remittance of Revenues by NNPC
Local

Nigerian House of Representatives to Investigate Non-Remittance of Revenues by NNPC

The Nigerian House of Representatives has announced its intention to conduct an investigation into the Nigerian National Petroleum Company Limited…

byakintundeJuly 19, 2023July 19, 2023
Project $6.2 Billion Capital Importation in Nigeria for 2023 Amid FX Reforms
Local

Project $6.2 Billion Capital Importation in Nigeria for 2023 Amid FX Reforms

Paraphrased Paragraphs: Afrinvest analysts have projected that capital importation in Nigeria for the fiscal year 2023 could reach $6.2 billion,…

byakintundeJuly 18, 2023July 18, 2023
Nigeria Customs Service Kwara Command Records N6.2 Billion Revenue in Q2 2023
Local

Nigeria Customs Service Kwara Command Records N6.2 Billion Revenue in Q2 2023

Paraphrased Paragraphs: The Nigeria Customs Service (NCS) Kwara State Command reported a revenue of N6.2 billion between April and June…

byakintundeJuly 18, 2023July 18, 2023
Federal Government and Lagos State Commence Demolition of Shanties and Extortion Points Near Lagos Ports
Local

Federal Government and Lagos State Commence Demolition of Shanties and Extortion Points Near Lagos Ports

The Nigerian Ports Authority (NPA), in collaboration with the Lagos State Government, has initiated a joint operation to demolish shanties…

byakintundeJuly 18, 2023July 18, 2023
Mobile Money Agents in Nigeria Stand Firm on Implementing New Price Framework
Local

Mobile Money Agents in Nigeria Stand Firm on Implementing New Price Framework

Despite facing criticism and threats of sanctions, the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) remains determined…

byayotilewaJuly 18, 2023July 18, 2023
Manufacturers and Students Struggle to Access Forex as Naira Exchange Rate Hits Record Low
Local

Manufacturers and Students Struggle to Access Forex as Naira Exchange Rate Hits Record Low

Despite recent reforms under the Bola Tinubu administration, Nigerian manufacturers and businesses are still facing challenges in accessing foreign exchange…

byakintundeJuly 17, 2023July 17, 2023
Millions of Poor Nigerians Excluded from Cash Transfer Program: World Bank Report
Local

Millions of Poor Nigerians Excluded from Cash Transfer Program: World Bank Report

The World Bank’s Nigeria Development Update for June 2023 reveals that over 42.69 million poor Nigerians have been excluded from…

byakintundeJuly 17, 2023July 17, 2023
Unveiling the Root Causes of Building Collapses in Lagos: World Bank Report
Local

Unveiling the Root Causes of Building Collapses in Lagos: World Bank Report

The World Bank’s report on housing regulatory framework standards in sub-Saharan Africa reveals that the frequent building collapses in Lagos…

byakintundeJuly 17, 2023July 17, 2023
Central Bank of Nigeria Records Significant Recovery in Intervention Program Repayments
Local

Central Bank of Nigeria Records Significant Recovery in Intervention Program Repayments

The Central Bank of Nigeria (CBN) has achieved a remarkable milestone in its intervention programs, announcing the recovery of N471.82bn…

byakintundeJuly 17, 2023July 17, 2023
Senate Probes Alleged Uneven Disbursement of N483bn Intervention Loans
Local

Senate Probes Alleged Uneven Disbursement of N483bn Intervention Loans

The Nigerian Senate has launched an investigation into the alleged uneven disbursement of N483 billion in intervention loans by the…

byakintundeJuly 13, 2023July 13, 2023
Bank Verification Numbers (BVNs) Reach 57.96 Million as CBN Plans to Close Unlinked Accounts
Local

Bank Verification Numbers (BVNs) Reach 57.96 Million as CBN Plans to Close Unlinked Accounts

According to data from the Nigeria Inter-Bank Settlement System Plc, the total number of issued Bank Verification Numbers (BVNs) in…

byakintundeJuly 13, 2023July 13, 2023
Enhancing the Passenger Experience: Addressing Challenges in Nigerian Airports
Local

Enhancing the Passenger Experience: Addressing Challenges in Nigerian Airports

The recent surge in passenger-operator clashes in Nigerian airports has raised concerns about the friendliness and efficiency of the country’s…

byayotilewaJuly 13, 2023July 13, 2023
Forex Inflows into Nigerian Trading Channel Rise by Almost a Quarter
Local

Forex Inflows into Nigerian Trading Channel Rise by Almost a Quarter

The abolition of multiple forex rates by the Central Bank of Nigeria (CBN) has contributed to a 23.8% increase in…

byakintundeJuly 11, 2023July 11, 2023
NNPCL intends to build a new $8 billion international gas pipeline.
BusinessLocal

NNPCL intends to build a new $8 billion international gas pipeline.

The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to construct another international gas pipeline valued at approximately $8…

byakintundeJuly 7, 2023July 7, 2023
Expert: Inter-agency Conflict Harming the Cocoa Business.
Local

Expert: Inter-agency Conflict Harming the Cocoa Business.

Ayo Akinola, a Technical Expert to the Federal Ministry of Industry, Trade, and Investment on the National Cocoa Plan, has…

byakintundeJuly 6, 2023July 6, 2023
The FG has Threatened to Penalize Bad Carbon Dealers.
Local

The FG has Threatened to Penalize Bad Carbon Dealers.

The Federal Government of Nigeria has issued a warning to carbon emission reduction traders who are trading without authorization. Carbon…

byakintundeJuly 6, 2023July 6, 2023
Terminal Operator Raises Import Car Tariffs by 36%
Local

Terminal Operator Raises Import Car Tariffs by 36%

Ports & Terminal Multipurpose Limited (PTML) has announced a 36% increase in tariff for imported vehicles, effective from July 1.…

byakintundeJuly 6, 2023July 6, 2023
Subsidy removal: Poor Nigerians will hit 101 million without palliatives, says World Bank
Local

Subsidy removal: Poor Nigerians will hit 101 million without palliatives, says World Bank

The World Bank has highlighted Nigeria’s high inflation rate as a significant factor in pushing an estimated four million people…

byakintundeJune 28, 2023June 28, 2023
World Bank Approves A New $500 million Loan for FG.
Local

World Bank Approves A New $500 million Loan for FG.

The World Bank Group has approved a $500 million loan to Nigeria to support women’s empowerment efforts. This funding is…

byakintundeJune 27, 2023June 27, 2023

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