Apprehension as FG borrows N20.1trn under Tinubu
In the first year of President Bola Tinubu’s administration, the Federal Government of Nigeria borrowed N20.1…
CBN Predicts Growth in Shariah-Compliant Banks
The Central Bank of Nigeria (CBN) announced that more shariah-compliant banks are expected to emerge due to the…
Cryptocurrency Suffers $42.6 Million Loss to Hacks in May
In May, the cryptocurrency industry faced significant losses totaling $42.6 million due to various hacking…
Nigeria to monitor mining sites via satellite, curb illegal activities
Dr. Dele Alake, Minister of Solid Minerals Development, announced that the Nigerian government will implement…
Iran-Africa Trade Reaches $1.2 Billion, with Iran Targeting Nigerian Market
The Government of the Islamic Republic of Iran announced that its trade with African countries has reached $1.2…
FG eyes $7bn FDI from oil sector – Wale Edun
Wale Edun, Nigeria's Minister of Finance and Coordinating Minister of the Economy, announced the securing of $7…
Aviation Workers’ Strike Causes Flight Delays and Cancellations
On Monday, flights from Lagos airport terminals and other airports nationwide experienced significant delays and…
CBN Revokes Licence Of Heritage Bank
The Central Bank of Nigeria (CBN) has revoked the license of Heritage Bank Plc with immediate effect, citing a…
Nigeria eyes fresh 480,000bpd as NNPC, ExxonMobil sign new deal
Good news for Nigeria's oil production! The Nigerian National Petroleum Company (NNPCL) and ExxonMobil have…
UPDC Declares 177% Income Growth
UPDC, a leading Nigerian real estate company owned by UAC, is experiencing a major turnaround. The company…
Stakeholders Applaud Smooth Start Of Hajj Flights
This year's airlift of Nigerian pilgrims to Saudi Arabia for Hajj is off to a great start! Pilgrims and…
Lagos Innovation Bill Proposes Tax Holiday, Waiver For Start-Ups
Lagos is set to become a hub for innovation, according to a new policy proposal. The Lagos Innovation Bill aims to…
Presidential tax committee recommends N800/$ Customs duty rate
Nigerian businesses are likely to welcome a new proposal that could make planning and budgeting easier. The…
FG secures World Bank’s $500 million loan for electricity sector
Nigeria's power sector is set for a shot in the arm with a $500 million loan from the World Bank. This funding…
Credit to government rises 2% to N19.98trn
Nigeria's government borrowing increased slightly in April, to N19.98 trillion, despite analysts' predictions of a…
Customs pushes for a single document, PCS for cargo clearance
Nigerian Customs Aims to Simplify Trade with Single Clearance Document
Nigerian Customs is working towards a…
Naira falls further as dollar sales drop by 30.05%
The Nigerian Naira continued its decline against the US Dollar on Thursday, losing over 10% of its value at the…
Nigerian drugmakers see 58% revenue rise as prices soar
Nigerian pharmaceutical companies are experiencing a surge in revenue, with a combined increase of 58% in the…
Chinese companies rush to hike dividends, buy back shares in Japan-style reform
Chinese companies are responding to government calls to improve investor returns by offering record dividends and…
Saudi Arabia Considers Selling More Aramco Shares
Saudi Arabia is preparing to announce a potential secondary share offering for Aramco, its state-owned oil giant.…
Oil prices steady as solid U.S. crude demand offsets rate concerns
Oil prices remained relatively unchanged today as conflicting factors influenced the market. Upward pressure came…
Germany to Scrap Gas Storage Fee for Neighboring Countries
Germany is removing a fee it charged neighboring countries for accessing its natural gas reserves. This levy,…
EU agrees to quit energy investment treaty over climate concerns
The European Union (EU) has unanimously decided to withdraw from the Energy Charter Treaty (ECT), a move driven by…
Asia’s Oil Imports Surge in May, Driven by India
Asia's crude oil imports reached a 12-month high in May, fueled by a massive increase in demand from India. The…
U.S. Announces $176 Million in Additional Aid for West Africa
The United States Agency for International Development (USAID) announced nearly $176 million in additional…
Elon Musk reclaims title of world’s richest person with $209bn net worth
Elon Musk reclaimed the title of the world's richest person thanks to his new AI startup, xAI. The company's $6…
Shell, others pay NDDC $142m in one year
Shell Petroleum Development of Nigeria (SPDC) and Shell Nigeria Exploration and Production Company (SNEPCo)…
Airspace management agency seeks reversal of 50% revenue deduction
The Nigerian Airspace Management Agency (NAMA) is facing financial difficulties due to a 50% reduction in their…
Dash for debt sees 64% surge in naira loan apps
The number of digital lenders in Nigeria has skyrocketed by 64% in the past year. This surge reflects Nigerians'…
Aigboje Aig-Imoukhuede Wins African Banker Lifetime Achievement Award
Nigerian banking leader Aigboje Aig-Imoukhuede has been awarded the prestigious African Banker Lifetime…