Expert: CBN Policies Can’t Rescue Naira
The naira-dollar exchange rate gap widened from N80.67 per dollar at the beginning of 2021 to N152.83 per dollar in…
Category: Local
Fed Govt Lists New Savings Bonds On NGX
The Federal Government at the weekend listed its latest monthly issuances of savings bonds on the Nigerian Exchange (NGX), paving…
FG Loses N1.474tn To 222 Terminal Shutdowns In 10 Months
Nigeria’s crude oil earnings were depleted by about N1.474tn between January and October 2021 due to various concerns at terminals…
Nigeria: NANS Rejects N10 Per Litre Tax On Soft Drinks
The National Association of Nigerian Students in the South-West zone has condemned the Federal Government’s plan to introduce N10 per…
Political Selection Of Discos By Jonathan Administration Cause Of Sector Failure – Nigeria President
President Buhari has berated the GEJ administration for the non-credible selection process of distribution companies. Pres Buhari attributed the current…
EU plans law requiring tech firms to do more to combat child abuse
The European Union plans to pass a law requiring technology companies to do more to tackle child sexual abuse. EU…
Nigeria: Debt Servicing Gulps 76% Of Revenue, Experts, Buhari Disagree On Borrowings
The Federal Government on Wednesday disclosed that it spent N4.2tn on debt servicing between January and November 2021. This sum…
Dangote, Adenuga, Rabiu Pocket N2.35tn In 2021
Nigeria’s three richest men, Aliko Dangote, Mike Adenuga, and Abdulsamad Rabiu saw their combined wealth jump by 33.9 percent to…
Facebook parent’s head of communications leaves company
The head of communications at Facebook parent Meta Platforms Inc (FB.O), John Pinette, is leaving the company, the social media…
Oil price nears $83 as fears over Omicron ease
Global oil prices continued to gain ground above $80 per barrel on Friday, helped by a growing consensus that demand…
Investor group backs mPharma’s Series D with $35mln
MPharma health tech startup is building a network of community pharmacies across Africa, with plans to be the primary healthcare…
Google chooses SafeBoda for Africa fund’s first deal
Google’s first investment from its Africa Investment Fund has gone to SafeBoda, a transport startup with operations in Uganda &…
Nigeria:FG seeks to increase revenue to 15% of GDP
The Federal Government has said it will increase its revenue to 15 per cent of Gross Domestic Product by 2025.…
Heirs Holdings Launches Tender On OML 17
Heirs Holdings has launched a tender for work on the Elelenwa multi-phase pump gathering station, on OML 17 in Nigeria.…
Nigeria: Capital Importation Rises 97% To $1.73bn In Q3’21
The National Bureau of Statistics, NBS, has said that capital importation rose sharply, quarter-on-quarter (QoQ) by 97 percent to $1.73…
FG spent $1.68bn on food imports in nine months – CBN
Central Bank of Nigeria has said FG spent about $1.68bn on food importation from January to September 2021 The CBN…
Nigeria: FG projects 233% increase in FDI, eyes $5bn
Nigerian FG has said it will increase Foreign Direct Investment into Nigeria from $1.5bn in 2022 to $5bn by 2025…
Manchester United Announces New Chief Executive Officer
Manchester United has announced former Group MD Richard Arnold, as Chief Executive Officer of the Club, effective from February 2022.…
Samsung Electronics Q4 profit jumps on server chip demand, foundry margins
In four years, Samsung Electronics Ltd said its fourth-quarter operating profit likely jumped 52% on-year to its highest. The accomplishment…
Bed Bath & Beyond CEO Says Losing $100 Million In Q3 Sales Hurts But Signals Strong Shopper Demand
Bed Bath & Beyond CEO Mark Tritton expressed disappointment over the retailer’s supply-chain issues in its third quarter, while also…
Nigeria’s Three Big Firms Gained N1.15tn In 2021 – NGX
The three biggest companies listed on the nation’s stock exchange gained a total of N1.15tn last year, data obtained from…
Nigeria Finance Act: Investors To Pay 10% Tax On Sale Of Shares In Any Nigerian Company
Investors on the Nigerian Stock Exchange are to pay a Capital Gains Tax of 10% on the sale of shares.…
CBN’s Quarterly Forex Intervention Drops By $930m
The Central Bank of Nigeria’s foreign exchange intervention in the economy declined by $930m in the third quarter of 2021…
Nigeria: Cooking Gas Price Drops, Supply Rises, Govt Projects Further Decrease
The Federal Government on Thursday said it was putting measures in place to ensure further reduction in the cost of…
Nigeria Senate Digs Into $679m Unremitted Revenue From Ports Concession
The Senate has uncovered how the Bureau of Public Enterprise (BPE) failed to remit $679.4 million realized from the concession of…
Nigeria: FG Posts N7trn Deficit, Elated Over N1.Trn Independent Revenues
The federal government recorded a budget deficit of N7. 052 trillion as at November last year, in the implementation of…
KFC Kenya considers sourcing potatoes locally after uproar
Kentucky Fried Chicken (KFC), an international fast food restaurant chain, Kenya, says it will start sourcing potatoes locally. According to…
Nigerians to pay VAT for digital services – Finance minister
FG has introduced a policy requiring foreign companies that provide digital services in the country to collect and remit Value…
Nigeria:We Generated N188.64bn At Onne Port In 2021 – Say Customs
The Area ll Command of the Nigeria Customs Service Port in Onne said it generated N188.64bn in 2022, compared to…
Once-Indispensable BlackBerry Smartphone Ceases To Exist
Canadian firm BlackBerry Ltd said it will take steps to decommission legacy services for its 10 and OS operating systems…