The Country’s currency, Naira, depreciated against the US Dollar on Wednesday at the official foreign exchange…
Category: Business
2024 budget will achieve 61 per cent increase in health sector to reduce ‘Japa’ – FCTA
The Federal Capital Territory Administration says the improved President Bola Ahmed Tinubu’s 2024 Budget will bring…
Fear looms as eight commercial banks fail to meet CBN’s Capital Adequacy Ratio
Fear is currently looming as eight commercial banks in Nigeria have reportedly failed to meet their…
NGX ASI records 0.78% gains
The Nigerian Exchange Limited closed Wednesday equities trading on a bullish note as the All-Share Index…
COP28: NNPCL signs two LNG deals
The Nigerian National Petroleum Company Limited (NNPCL) has signed two Liquefied Natural Gas (LNG) deals for…
Tinubu’s CoS Gbajabiamila gets N21bn allocation from 2024 budget
President Bola Ahmed Tinubu’s Chief of Staff, Femi Gbajabiamila, will get N21 billion from the 2024…
Again, Naira appreciates against US Dollar at forex market
Again, Nigeria’s currency, the Naira, gained against the US Dollar on Tuesday at the official foreign…
Naira Devaluation: External reserves fall by $1.65bn in six months
Amid persistent foreign exchange fluctuation, Nigeria’s foreign exchange reserves have fallen by $1.6 billion to $32.97…
NGX bounces back, gains 0.43% Tuesday
The Nigerian Exchange Limited has bounced back, appreciating by 0.43 per cent on Tuesday to close…
FG launches National Policy on Welding
The federal government has launched the National Policy on Welding and Welding-Related Fields to conserve about…
Fuel subsidy removal hurts 90% of Nigerian businesses – Report
The fuel subsidy removal policy of President Bola Tinubu’s government, which took off in June 2023,…
Naira gains against US Dollar at forex market
The naira commenced the week on a positive note as it gained against the US Dollar…
NGX records N259bn market capitalization loss
The week kicked off on a bearish note at the Nigerian Exchange Market as losses recorded…
Tinubu govt to revoke unused oil exploration leases
The Nigerian Upstream Petroleum and Regulatory Commission has disclosed the President Bola Tinubu administration’s plan to…
Nigeria’s exports grew by 60 per cent as total trade hits N18bn in Q3 2023
Nigeria’s total exports in the third quarter of 2023 increased by 60.78 per cent, valued at…
‘It’s daydreaming’ – Don faults Tinubu’s 2024 budget
Wumi Iledare, Professor Emeritus and Executive Director, Emmanuel Egbogah Foundation, has faulted President Bola Ahmed Tinubu’s…
Despite €30m profits in October, Spotify mulls 17% job cuts
Music streaming giant Spotify said on Monday it will slash the number of its employees by…
Gold hits record high as Bitcoin trades above $40,000
Gold hit a record high and Bitcoin traded above $40,000 for the first time since May…
FCTA doctors fault 5% budgetary allocation for health sector in 2024
The Association of Resident Doctors, ARD, in the Federal Capital Territory Administration, FCTA, has faulted the…
70% of projects in Nigeria’s budgets don’t last beyond 2 years – Expert
A financial expert and budget analyst, Oluseun Onigbinde, says 70 per cent of projects in Nigeria…
$750m World Bank loan: FG disburses N135bn to 36 states, FCT
The Federal Government has disbursed N135.4 billion to states and the Federal Capital Territory following the…
Delta govt mulls N12bn monthly IGR
Delta State government says it plans to achieve N12 billion monthly Internally generated revenue. Dr Latimore…
Food Inflation: Tinubu’s subsidy on farm inputs will boost food production — APC chieftain, Oyintiloye
A chieftain of the All Progressives Congress (APC) in Osun State, Olatunbosun Oyintiloye, has asserted that…
Nigeria’s local refineries capacity dropped by 92 per cent in 10 years – Report
As the federal government under Bola Ahmed Tinubu brace up to achieve the December deadline to…
Nigeria’s insurance sector grows to 2.8tn, as firms record N729bn premiums in nine months
The Nigerian insurance sector grew to N2.8 trillion as companies recorded N729.1 billion in premiums from…
Taraba dry season farmers embrace alternatives amid subsidy removal
With the recent removal of fuel subsidies, dry season farmers in Taraba State are navigating innovative…
‘Not from us’ – FAAN speaks on ‘Ghana must go’ bags ban at Nigeria’s airports
The Federal Airports Authority of Nigeria (FAAN) has clarified that the ban on “Ghana must go”…
Tinubu targets one million jobs for Nigerians
President Bola Ahmed Tinubu’s administration says it targets one million jobs for Nigerians through the National…
COP28: IMF mulls debt-for-climate swap deal for Nigeria, other countries
Amid Nigeria’s rising foreign debt profile, which stood at $43.2 billion in the second quarter of…
CG Adeniyi inaugurates Customs companies’ board members to drive revenue generation
The Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, inaugurated new chairpersons and members of the…
NGX equities increase by 3.08% in November as ASI crosses 70,000 points
Nigerian Exchange Limited (NGX) equities trading ended November 2023 positively as the All-Share Index crossed 70,000…
Nigeria needs $247bn climate finance by 2030 – AfDB
The African Development Bank (AfDB) says Nigeria needs $247 billion in climate financing by 2030 to…
N135bn intervention fund: CBN, Petroleum Ministry trade words
Senate Committee on Gas Resources Investigating disbursement of N135 billion Central Bank of Nigeria, CBN, to…
OPEC hands Nigeria oil output target of 1.5 million barrels per day
The Organisation of Petroleum Exporting Countries (OPEC) has handed Nigeria a 2024 oil output target of…
Currency depreciation, inflation, debt hindering growth of ECOWAS economies – President
Dr. Omar Touray, President of the ECOWAS Commission on Thursday said that debt, currency depreciation, inflation,…
FMDQ Exchange’s secondary market turnover grew to N21.70tn in October
FMDQ Exchange, Nigeria’s securities and exchange market, says its secondary market turnover in October grew to…
AfDB reviews Africa’s economy growth rate forecast in 2024 to 3.8%
The African Development Bank (AfDB) has reduced Africa’s economic growth rate projection from 4.3 per cent…
Ebonyi govt bans use of scaling machine for measuring rice
The Abakaliki Rice Mill Owners Industry Association, in collaboration with Ebonyi State government, has begun distribution…
Lagos ranked among world’s cheapest cities
Lagos State has been ranked among the world’s cheapest cities. Economists Intelligence Worldwide Cost of Living…
Nigeria records N8.65tn revenue in three quarters of 2023 – Tinubu
President Bola Ahmed Tinubu says Nigeria generated N8.65 trillion in revenue from January to September, first…
Naira gains against US Dollar at forex market
The Naira marginally appreciated against the US Dollar again on Wednesday at the foreign exchange market.…
AfDB evaluates Africa’s economic forecast for 2023, 2024
The African Development Bank (AfDB) has reviewed its short- to medium-term macroeconomic forecasts for Africa for…
Cross River POS agents plead for streamlined tax payments system
Point of Sale, POS, agents in Cross River State have appealed to the government to streamline…
CBN issues fresh update to banks, Nigerians on naira notes
The Central Bank of Nigeria, CBN, has issued a fresh directive to all banks and Nigerians…
Plane diversion: United Nigeria Airlines suspends flight dispatcher
The controversy surrounding the diversion of an Abuja-bound United Nigeria Airlines (UNA) flight to Asaba has…
NDIC partners EFCC to prevent bank failures
The Nigeria Deposit Insurance Corporation (NDIC) has established a dedicated desk at the Economic and Financial…
FIRS, EFCC team up against tax defaulters
Chairman of the Federal Inland Revenue Service, FIRS, Mr Zacch Adedeji, on Wednesday called for a…
Tinubu targets 3.76% economic growth in 2024
President Bola Tinubu has presented the 2024 national budget of N27.5 trillion to the National Assembly.…
Nigeria has 44 distinct minerals – Alake woos foreign investors
Dele Alake, the Minister of Solid Minerals Development, said Nigeria has 44 distinct minerals, urging investors…
Bank recapitalization will fuel Nigeria’s $1trn economy target – Tinubu
President Bola Ahmed Tinubu has backed the recapitalization plan of the financial sector by the Central…
Naira slumps against US Dollar at forex market
Nigeria’s currency, the Naira, depreciated against the US Dollar again on Tuesday at the foreign exchange…
National Carrier: Keyamo reveals controversial deals between Nigeria, Ethiopian Airlines
Festus Keyamo, the Minister of Aviation and Aerospace Development, has revealed suspicious deals in the controversial…
$13.5trn investment needed to achieve net zero in critical industries – WEF
The World Economic Forum said $13.5 trillion investment is needed to decarbonize hard-to-abate key industries and…
Tinubu’s reappointment of Kyari as NNPCL GCEO disservice to Nigeria – Madaki
An oil and gas expert and Managing Partner, BBH Consulting, Barr. Ameh Madaki has berated President…
Naira depreciates against Dollar at forex market
Nigeria’s currency, the Naira, depreciated against the US Dollar on Monday at the foreign exchange market.…
$1tn economy: Mergers, acquisitions loom as CBN plans banks’ recapitalization
Mergers and acquisitions loom as Nigeria’s Deposit Money Banks brace for another round of recapitalization in…
South-South takes highest share as 36 states, FCT receive N8.79tn from FAAC in 2 years
The South-South region took the highest share as the 36 states, the Federal Capital Territory and…
NCAA commences investigation on diversion of United Nigeria Airline flight to Asaba
The Nigeria Civil Aviation Authority (NCAA) said it has commenced investigation into the circumstances surrounding the…
BREAKING: Plane diversion: NCAA suspends all foreign lease aircrafts of United Nigeria Airlines
The Nigeria Civil Aviation Authority, NCAA, has suspended all foreign lease aircraft under United Nigeria Airlines…
BREAKING: Plane diversion: NCAA suspends all foreign lease aircrafts of United Airlines
The Nigeria Civil Aviation Authority, NCAA, has suspended all foreign lease aircraft under United Nigeria Airlines…
Tinubu govt intervenes in high price of cooking gas
The Federal Government has intervened in the skyrocketing price of cooking gas in the country. The…
Service sector grows Nigeria’s GDP by 2.54% in Q3 despite fuel subsidy hardship
Despite the hardship occasioned by fuel subsidy removal in June, the service sector has pushed Nigeria’s…
NCC boss, Maida urges Nokia to invest in Nigeria’s ICT R&D
The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Dr.…
FDI: Nigeria provides 30 per cent return on investment – NEXIM
Amid the push to woo foreign direct investment portfolio, the Nigeria Export-Import Bank has said that…
Nigeria Customs Service mulls upward review of pensions for retired officers
The Nigeria Customs Service, NCS, says it is targeting a thorough upward welfare review for retired…
Nigeria’s inflation will reduce in next two quarters – CBN Governor
The Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso, said monetary policy measures put…
Excess Liquidity in banking sector reduced to under N100bn in November – CBN
The Central Bank of Nigeria said Liquidity in the entire banking sector was reduced to under…
CIBN provides solutions to Nigeria’s economic challenges
The Chartered Institute of Bankers of Nigeria has provided the federal government with solutions to the…
Naira appreciates against Dollar at forex market
Nigeria’s currency, the Naira, appreciated against the US Dollar on Friday at the foreign exchange market.…
CBN new guidelines to address naira depreciation, achieve exchange rate stability
Governor of the Central Bank of Nigeria, CBN, Yemi Cardoso has said that the apex bank…
CBN mulls new round of bank recapitalization
The Central Bank of Nigeria (CBN) has announced plans for a new round of banking recapitalization…
Nigeria’s GDP grows by 2.54% in Q3 2023
Nigeria’s Gross Domestic Product, GDP, grew by 2.54 per cent (year-on-year) in the third quarter of…
CBN urged to implement FX stability efforts
The Centre for the Promotion of Private Enterprise (CPPE) has encouraged the Central Bank of Nigeria…
$1.68bn foreign airlines’ funds trapped in Nigeria, others – IATA
The International Air Transport Association says $1.68 billion of airlines’ funds are trapped across Africa as…
NNPCL sets date to end importation of refined petroleum products
Nigerian National Petroleum Corporation Limited, NNPCL, has declared that the importation of refined petroleum products into…
Naira slumps against Dollar at forex market
Nigeria’s currency, the Naira, slumped to N956.33 against the US Dollar on Thursday at the foreign…
Black Friday Sales: Commission alerts Nigerians on fake online stores
The Federal Competition and Consumer Protection Commission has warned Nigerians against patronizing fake online stores ahead…
Tinubu assents to DICON bill
President Bola Tinubu has assented to the Defence Industries Corporation of Nigeria (DICON) Bill, 2023. The…
Senate seeks Nigeria’s inclusion in $147bn global bitumen market
The Senate in Abuja made a legislative move to include Nigeria in the $147 billion global…
Customs records N11bn daily revenue at Apapa port
The Apapa Command of Nigeria Customs Service said it generated a daily revenue collection of N11.3…
Food security: Nigeria to host techathon in Abuja
Nigeria will host a techathon in Abuja to showcase how technological advancements can be used to…
NIPR inaugurates Customs CG Adeniyi, others, seeks improved image for Nigeria
The Nigeria Institute of Public Relations, NIPR, on Thursday inaugurated the Comptroller General of Nigeria Customs…
Nigeria’s GDP grows by 2.51% in Q2 2023
Nigeria’s real Gross Domestic Product, GDP, at basic prices grew by 2.31 and 2.51 per cent…
Nigeria Customs hands over seized illicit drugs to NDLEA
The Comptroller General of the Nigeria Customs Service, Adewale Adeniyi, on Thursday handed over seized illicit…
TotalEnergies confirms oil leak in Egina field
TotalEnergies on Thursday confirmed an oil leak in its 2.3 million storage capacity Egina Floating Production…
Nigeria yet to tap from $73tn intellectual property revenue – WIPO
The World Intellectual Property Organisation, WIPO, on Wednesday said that Nigeria was yet to tap into…
Lagos loses N4tn yearly to traffic congestion
Lagos State, the commercial hub of Nigeria, is losing N4 trillion yearly to traffic congestion. A…
Tinubu approves sale of more oil and gas fields
President Bola Tinubu has approved the sale of more oil and gas fields abandoned by the…
FAAC shares N906bn among federal, states, LGs for October
The three tiers of government- Federal, State, and Local Governments received 906.96 billion as revenue from…
Naira depreciates against dollar for second time
Nigeria’s currency, the naira, depreciated against the US dollar on Wednesday at the foreign exchange market.…
“There’ll be abundant fuel supply till 2024′ – NNPCL boss Kyari
The Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has assured…
DSTV/GOTV subscription hike: Reps ask NBC to dialogue with Multichoice
The House of Representatives has urged the National Broadcasting Commission (NBC) to dialogue with the Multichoice…
FG unveils portal for startup registration
The Federal Government has launched the Startup Support and Engagement Portal. The Minister of Communications, Innovation,…
Nigeria risks losing $450bn to climate change – Report
Nigeria risks losing $460 billion due to climate change by 2050 if urgent actions are not…
OPEC+ shifts policy meeting to November 30
The ministerial meeting of the OPEC+ alliance has been postponed to November 30, 2023, from its…
Nigeria yet to tap from $73tn intellectual property revenue – WIPO
The World Intellectual Property Organisation, WIPO, on Wednesday said that Nigeria was yet to tap into…
Reps probe non–remittance of revenue generated through the Remita platform
The House of Representatives has resolved to investigate revenue leakages and non–remittance of revenues generated through…
Cost of preparing Nigerian Jollof rice surged by 220%
The cost of preparing Nigeria’s Jollof rice increased by 220.7 per cent to N13,106 in September…
How petrol price increased within one year – NBS
The National Bureau of Statistics (NBS), has said that the average retail price of a litre…
FG vows to boost manufacturing performance in Nigeria
The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite says the ministry will strengthen collaboration…