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Low IGR: 18 Nigerian States in Dire Financial Straits, Missing Opportunities at…
Out of Nigeria's 36 states, only Lagos was represented at the 2023 Africa Investment Forum (AIF) in Marrakech,…
Nestle Nigeria Reports Loss After Naira Weakness Triggers N127.46 Billion Forex…
Nestle Nigeria has reported a loss after tax for the 9-month period ending in 2023 due to a significant foreign…
Nigeria Declares State of Emergency in Health Sector Due to Dilapidated Facilities
Summary:The Federal Government of Nigeria has declared a state of emergency in the country's health sector, citing…
Despite Inflation, Real Estate Opportunities Exist in Nigeria: Land-Banking and…
Summary:Amid the impact of inflation on various sectors, including real estate, there are still opportunities for…
Meta to Land Two Submarine Cables in Nigeria to Boost Digital Infrastructure
Summary:Meta is set to deploy two submarine cables in Nigeria, with one landing in Lagos and the other in Akwa…
Combating Illicit Financial Flows in Nigeria: The Role of Technology
Illicit financial flows (IFFs) in Nigeria, driven by corruption, tax evasion, money laundering, and illegal trade,…
Nigeria’s Inflation Hits Multi-Decade High at 27.3%, Food Inflation at 31.5%
Nigeria's inflation has reached a new multi-decade high, hitting 27.3% in October, defying global trends. The…
London-based Fintech Due Network Expands to Nigeria, Targeting Cross-Border…
Due Network, a global fintech company based in London, has expanded its operations to Nigeria, aiming to tap into…
Nigeria’s Inflation Persists Amid Global Cooling, Local Factors Cited
While several countries experience a slowdown in inflation, Nigeria continues to see rising prices for goods and…
Visa Cancellation Sparks Calls for Reciprocal Action to Protect Nigerian Carriers
The cancellation of visas for 264 Air Peace passengers by Saudi authorities at King Abdulaziz International…
Nigeria’s Export Prohibition Act Hinders Agricultural Commodities Export Amid…
Nigeria's Export Prohibition Act of 1989 is restricting the export of certain agricultural commodities, including…
Nigeria’s Headline Inflation Hits 27.33%, Highest in 18 Years, Driven by…
Nigeria's headline inflation has reached 27.33%, marking an 18-year high, driven by surging food prices,…
Nigeria’s Rice Imports Cost for 2023/24 May Surpass Total Anchor Borrowers…
The United States Department of Agriculture (USDA) projects that Nigeria's rice imports for the 2023/24 marketing…
New E-Dividend Portal in Nigeria to Be Operational by November 30, 2023, Says SEC
The Securities and Exchange Commission (SEC) in Nigeria has announced that the new e-dividend portal is expected…
Central Bank of Nigeria Reverses Deadline for Withdrawal of Old Naira Notes
The Central Bank of Nigeria (CBN) has announced the reversal of the December deadline for the withdrawal of old…
Nigeria Targets Increase in Revenue to GDP Ratio from 8% to 25% by 2026
The Federal Government of Nigeria aims to raise the revenue to Gross Domestic Product (GDP) ratio from 8% in 2023…
ValueJet Aircraft Slips Off Runway at Port Harcourt Airport
An aircraft operated by ValueJet airline experienced a slip on the taxi turn after landing at Port Harcourt…
Nigeria: Oil Firms Increase Gas Flaring, but Penalty Declines in H1 2023
Oil companies in Nigeria increased gas flaring in the first half of this year, with a penalty payment of N36…
Nigeria’s Longest-Dated Bond Reopens, Oversubscribed at Record 18% Yield
The reopening of Nigeria's longest-dated bond, the 2053 maturity, was oversubscribed more than three times at an…
Saudi Arabia Cancels Visas of 18 Nigerian Passengers Over Past Offences
Saudi Arabian authorities cancelled the visas of 18 out of the 177 passengers who arrived in Jeddah, Saudi Arabia,…
BUA Plc Faces Potential Profit Slowdown Amid Forex Challenges and Increased…
Nigeria's BUA Plc, a cement maker, may experience a slowdown in profit before tax due to factors such as the…
FCCPC CEO Discusses Agency’s Transformation, Advocacy for Patient’s…
In an interview with the Executive Vice-Chairman/CEO of the Federal Competition and Consumer Protection Commission…
NNPC Facilitates Resolution in Total Energies Dispute, Oil Production Restored
The Nigerian National Petroleum Company Limited (NNPC) has successfully mediated a dispute between Total Energies,…
Nigeria’s Inflation Projected to Rise for the 10th Consecutive Month to…
Nigeria's headline inflation rate is projected to rise for the 10th consecutive month to 27.8% in October 2023,…
Nigeria Senate to Consider Diaspora Voting Rights During Constitution Review
The Nigerian Senate is set to consider diaspora voting rights as part of the ongoing review of the country's 1999…
Nigeria’s Crude Oil Production Drops in October, Affecting Foreign Exchange…
Nigeria's crude oil production declined to 1.56 million barrels per day (mbpd) in October, marking a 0.65% drop…
Flaws in Off-Cycle Elections in Nigeria Threaten Democracy, Experts Say
The recent off-cycle governorship elections in Bayelsa, Imo, and Kogi states in Nigeria have been criticized for…
Number of Nigerians Studying in the United States Surges Despite Dollar Scarcity
The number of Nigerians studying in the United States has reached the highest level in at least 23 years, despite…
Naira Fails to Gain Despite 46.69% Rise in Dollar Supply
Despite a significant increase in the supply of dollars at Nigeria's Autonomous Foreign Exchange Market (NAFEM),…
EIU Warns CBN Lacks Sufficient Firepower to Clear $6 Billion Forex Backlog
The Economic Intelligence Unit (EIU) cautions that the Central Bank of Nigeria (CBN) lacks the necessary capacity…