Bolt Now Valued Above $8bn After Raising $712m To Expand Product Lines
Bolt, a ride-hailing company, says it has raised $712 million (€628 million) to expand its transportation and food delivery super…
Category: Local
Nigeria: NBET Pays GENCOs 50% Of Invoice On Power Supply
Power generation companies (GenCos) were paid just half of their total invoice to the Nigerian Bulk Electricity Trading Plc (NBET)…
Tech Startup Raises $1.7m For Expansion
Bfree, a credit management fintech, has raised $1.7m in a pre-Series A round to embark on expansion in emerging markets.…
Oil Market: Bonny Light Price Hits $81.81 Per Barrel
The price of Bonny Light, Nigeria’s premium oil grade, has risen to $81.81 per barrel in the global market, as…
Standard Chartered To Shut Half Of Nigeria Branches
Standard Chartered Plc is closing about half its Nigerian branches in a pivot to digital banking, according to people familiar…
Foxconn India iPhone plans to reopen on Wednesday -legislator
Apple Inc supplier Foxconn will reopen an iPhone manufacturing facility in southern India on Wednesday. Foxconn said it employed about…
Nigeria’s Diaspora Remittances May Beat World Bank’s Projection, Rise 10% To $14.2bn
Nigeria’s diaspora remittances inflow is set to beat the World Bank’s projection for 2021, as it rose to $14.2 billion…
Gains In BUA Foods, 27 Stocks Lift Capitalisation Further By N28 Billion
Transactions on the equities sector of the Nigerian Exchange (NGX) market capitalisation increased by N28 billion yesterday, amid sustained bargain…
Gmail Hits 10 Billion Installs On Android, Becomes Fourth To Surpass Milestone
Total number of Gmail app installations has surpassed 10 billion on android, emerging the fourth app on Google play store…
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…
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…