Nigeria: Lagos Completes Infrastructure Work on the Blue Rail Line, Making History.
Lagos State Governor, Babajide Sanwo-Olu officially boarded the coach of the recently finished Lagos Blue Line and made history by…
Category: Local
Wells Fargo was Ordered to Compensate Customers $3.7 billion for Improper Behavior.
The largest-ever civil fine levied by the U.S. Consumer Financial Protection Bureau was levied against Wells Fargo & Co. (WFC.…
Foreign Portfolio Investments in the Stock Market Reach Over 9-Year Low at 16.67%
Foreign portfolio investments in the Nigerian stock market decreased to 16.67% in the first 11 months of 2022, the lowest…
Nigeria’s Imports of Wheat Decrease as Business with Russia Drastically Declines.
In the first nine months of 2022, Nigeria imported durum wheat worth N753.6 billion, a 16.1% decrease from the N898.2…
Nigeria: FEC Grants N386.75 billion to the Ministries of Power, Works and Transportation.
The Federal Executive Council on Wednesday approved a total of N386.75bn for various projects in the federal ministries of Power,…
NIMASA Attributes Rising Food Costs in Nigeria to Ship Insurance Issues.
The high cost of food in the nation has been attributed by the Nigerian Maritime Administration and Safety Agency to…
Buhari Seeks a New N819 billion Loan, as Domestic Debt Rises to N22.5 billion.
As the Federal Government proposed a last-minute supplementary budget for the 2022 fiscal year, Nigeria’s domestic debt increased to N22.57…
Nigeria Misses OPEC Quota As Oil Production Shortfall Hits 6.9m Bpd In 11 Months.
Between January and November 2022, Nigeria’s production of crude oil fell by 6.9 million barrels per day (bpd). This is…
NBS: In Q3, 2022, Nigeria FG Generated N625 billion in VAT.
In the third quarter of 2022, the federal government collected over N625.39 billion in Value Added Tax (VAT). The National…
The Total Assets of the Insurance Sector Reached N2.3 trillion.
At the end of the third quarter of 2022, the insurance industry in Nigeria had N2. 3 trillion in total…
Shareholders of MTN Agree to Cancel 7.5 billion Shares.
The shareholders of MTN Nigeria Plc have authorized the cancellation of 7. 5 billion unissued shares in order to meet…
U.S. Plans to Invest $170 million in African Exports.
The U.S. Government program, Prosper Africa, which aims to increase bilateral trade and investment between the US and African countries,…
Banks Record the Serial Numbers Provided to Consumers when Using New Naira Notes.
In order to prevent counterfeiting, the Central Bank of Nigeria (CBN) has ordered banks to record the serial numbers of…
According to the UK, Nigeria will Lose 25% of its Arable Land.
According to the United Kingdom, the consequences of climate change will prevent Nigerians from cultivating on roughly 25% of their…
According to Bank CEO, Digital Banking can Promote Financial Inclusion.
Ademola Adebise, Managing Director/Chief Executive Officer of Wema Bank Plc, has stated that the development of technology and digital banking…
Banks Reject 94% of Proposals for Export Funding.
Dr. Bamidele Ayemibo, the lead consultant at 3T Impex Consulting, claims that 94% of bank requests for export financing from…
Nigeria FG Aims to Increase Rice Exports – Agriculturist
In order to guarantee a surplus of rice production for export, food security, and job creation, the federal government launched…
Oil Revenue Increases by N308.6 billion.
Due to coordinated efforts by the Nigerian National Petroleum Company Limited and security agencies to stop oil theft, Nigeria’s crude…
World Bank: 80 million Nigerians could Lose their Jobs by 2030.
According to the World Bank, if Nigeria doesn’t increase its employment rate, 80 million people of working age will not…
Abuja and Abia are in the Lead as Food Costs Rise.
According to research by The PUNCH, the Federal Capital Territory, Abuja, and Abia State have taken the lead over many…
Finance Bill: Dangote, 7UP, and 170 Businesses might Lose N2.4 trillion Tax Waivers.
As the Federal Government plans to phase out some tax waivers from 2022, at least 172 companies may not benefit…
Nigeria Custom Service Reports N1 billion Seizures.
The Nigeria Customs Service’s Federal Operations Unit Zone A has said that, in advance of the holiday season, it has…
Nigerias Power Sector Debt to NDPHC is at N100 billion.
According to Chiedu Ogbo, the managing director of NDPHC, the electricity industry owes the company more more N100 billion at…
Nigeria’s Inflation Picks Up in November, Reaching 21.47%.
According to the statistics office, inflation in Nigeria increased for the tenth consecutive month in November, rising to 21. 47%…
Nigeria’s Growth is Projected by the World Bank to be 3.1% in 2022, Down from 3.8%.
The World Bank stated during a briefing in Abuja that it had revised its growth projection for Nigeria for 2022…
NNPC Scrambles to End Nigeria Fuel Queues.
According to oil marketers, despite a 17 kobo reduction in the ex-depot price of Premium Motor Spirit, also known as…
Second Niger Bridge Opens to Vehicular Movements.
The Second Niger Bridge is now accessible to vehicles. A government official claimed that a few minor changes to the…
Buhari: Nigeria Committed to Ending Use of Petrol, Diesel Generator.
According to President Muhammadu Buhari, the Nigerian government would make every effort to totally phase out the use of gasoline…
Dangote Cement’s share buyback has been approved by shareholders.
Dangote Cement shareholders unanimously authorized the company’s management to conduct a share buyback of up to 10% of its issued…
Senate Approves NCC’s N559 billion Budget.
Following the presentation by the Committee on Communications, the Senate passed the Nigerian Communications Commission’s 2023 budget during a plenary…