OPEC+ Crude Oil Output Boost Undershoots Targets In May
OPEC+ produced 2.695 million barrels per day below its crude oil targets in May. Because of production problems at…
Nigeria Must Increase Productivity To Improve Naira Value — Experts
Nigeria must increase its productivity and change consumption patterns to shore up the value of naira.The Central…
Rising Inflation, Others Threaten Buhari’s Poverty Reduction Scheme –World Bank…
World Bank economists, Jonathan Lain and Jakob Engel, have said that rising inflation, persistent population…
Nigeria’s Internet Subscription Hits 148 Million In April 2022.
Subscriptions for internet across mobile, fixed, and VoIP networks in the country increased to 148 million in…
US Federal Reserve Hikes Benchmark Interest Rate By 0.75 Percentage Point.
The U.S. Federal Reserve raised its target interest rate by three-quarters of a percentage point to combat a…
Heifer International Compensates 3000 Farmers With N100m Insurance.
In its resolve to help smallholder farmers mitigate loss of harvests due to poor weather conditions, pests and…
Google Ordered To Pay Australian Politician Over Defamatory YouTube Videos.
An Australian court on Monday ordered Google to pay a former lawmaker A$715,000 ($515,000). Saying its refusal to…
UAC Completes Maiden N18.7 Billion Commercial Paper Issuance.
UAC of Nigeria PLC has announced the successful completion of its N18.7 billion Series 1 and 2 Commercial Paper…
Bank Customers To Produce Indemnity For Online Transfers Above N1m – CBN
The Central Bank of Nigeria has ordered banks and Payment Service Providers to accept indemnity. Indemnity from…
E-Dividend Portal To Be Automated By Q3 2022 –SEC
The Electronic Dividend Mandate Management System (E-DMMS) will be fully in use by the end of the third quarter…
Mobile Transactions Hit N4.86tn In Four Months – NIBSS
Nigerians’ use of mobile channels for payment transactions has risen by 3,454.46% from N136.85bn. Within the first…
2.4 Million Metric Tonnes ish imports depleting Nigeria’s forex –FG
Nigeria yearly imports roughly 2.4 million metric tonnes of frozen fish.Which is putting a strain on its foreign…
Shell Ask Court To Hands Off N700 Billion Oil Spill Suit Pending Determination Of…
The Shell Petroleum Development Company (SPDC) has asked the Federal High Court in Yenagoa to stay. Proceeding in…
Stock Market Investors Gain N158bn- Nigeria.
Investors’ shares in the Nigerian stock market rose by N158bn last week as 29 firms recorded price…
Fitch Withdraws Ratings On Debt-Laden China Evergrande, Subsidiaries.
Fitch Ratings said it has decided to withdraw its rating on embattled property developer China Evergrande Group…
Bank Launches Platform For Solar Energy Consumers- Nigeria.
Sterling Bank Plc has launched a new and innovative digital product, known as the Imperium Platform. To connect…
Futures Climb On Lower Oil Prices; Private Jobs Report In Focus.
In anticipation of a report on private payrolls, U.S. stock index futures increased as the price of oil…
Naira Falls To N609/$1 At P2P Market, Lowest On Record
The exchange rate between the naira and the US dollar closed at N421.25/$1 at the Investors and Exporters…
Russia’s Rusal Files Suit Against Rio Tinto Over Alumina Refinery-Documents
Russian aluminium producer Rusal (RUAL.MM) has sued the global miner Rio Tinto (RIO.AX), seeking to win back…
Apple Dives Deeper Into Autos With Software For Car Dashboard.
Apple Inc (AAPL.O) on Monday announced it would more deeply integrate its software into the core driving systems…
Crude Oil Exports Jump By 194%, Hit N5.6tn In Three Months- Nigeria.
Amid increasing calls for diversification of the economy, Nigeria’s crude oil exports jumped to N5.6trn. This is…
The Bilateral Agreements Buhari Signed During His Trip To Spain- Nigeria.
President Muhammadu Buhari visited Spain where he met the Spanish President, Pedro Sanchez, King of Spain. He gave…
Flour Mills Approves N8.8 Billion Dividend For Shareholders In FY 2022- Nigeria.
Flour Mills of Nigeria (FMN) Plc has proposed a total dividend of N8.8 billion for the 2022 financial year. As…
EXCLUSIVE Axon Halts Taser Drone Work As Most Of Its Ethics Panel Said To Resign.
Taser-maker Axon Enterprise Inc (AXON.O) says it's halting work on a project to equip drones with stun guns to…
Customs Seize 828 Bags Of Foreign Rice, Others In Benin, Lagos.
According to reports, the Nigeria Customs Service's Western Marine Command confiscated 828 bags of imported…
Wapco Plc Loses Over N4 billion In Market Value, As Share Price Drops On N27.70
In yesterday’s trading session, Wapco (LaFarge) Plc share price depreciated by 1.07%. This too close at N27.70 per…
Dollar Rises By 21%, FX Shortage Persists After Party Primaries- Nigeria.
Dollar exchanged at N603 (average) at Lagos and Abuja parallel markets. Indicating a worsening liquidity crisis in…
Dangote Cement Spent N196 Billion On Fuel And Power In 2021 Due To Inflationary…
Dangote Cement Plc has disclosed that fuel and power consumed by the company increased by 34.4%. That is, to…
Subsidy Overtakes Health, Education, Welfare Budgets, World Bank Warns Nigeria.
According to the World Bank, Nigeria's government spends more on gasoline subsidies than on social security,…
Aluminium Extrusion Plc Declares Dividend Payment Of N0.05 Kobo To Shareholders
Aluminium Extrusion Plc has announced a final dividend payment of N0.05 kobo per 50 kobo. This dividend payment…