Browsing Category
Business
FG Officially Declares End of Fuel, FX Subsidies
The federal government has officially announced the termination of fuel and foreign exchange subsidies, marking the end of a long-debated policy. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this…
Refinery Boost: Aliko Dangote now 65th richest person in the world with $28bn
…Five more Africans made latest Billionaires Index President of Dangote Group, Aliko Dangote remains the richest man in Africa, and now the 65th richest…
Dangote’s Net Worth hits $28B as Refinery project sails
Aliko Dangote, Africa’s richest man, has seen his wealth more than double to $28 billion following the long-awaited opening of his Nigerian oil refinery, according to the Bloomberg Billionaires Index. The…
Petrol queues persist as NNPC ramps up imports to bridge shortfall
Petrol queues in parts of Lagos and other states continue to spread over a huge deficit in the supply of Premium Motor Spirit (PMS),…
Weak naira is an opportunity for Nigeria to boost its export trade – Cardoso
The Governor of the Central Bank, Yemi Cardoso, stated that the sharp drop in the value of the naira presents an opportunity for the country to boost its exports to other nations. Cardoso said this at the…
Nigeria’s petrol imports plummet in October as Dangote refinery ramps up production
Nigeria’s petrol imports have dropped significantly in early October as the Dangote Refinery boosts its production to meet…
INTRODUCING ALAT XPLORE APP: NIGERIA’S FIRST LICENSED BANKING APP FOR TEENAGERS
In today’s world, financial literacy has become an essential life skill, particularly…
We Fast Tracked Remittance Of $600m From Diaspora – Cardoso
The Central Bank governor, Olayemi Cardoso, has stated that the bank fast tracked the remittance of around $600 million through International Money Transfer Operators (IMTOs). He stated this yesterday…
Jumia Exits South Africa, Tunisia, Faces Nigeria, Others
Africa-focused e-commerce retailer, Jumia Technologies, will shut down its South African online fashion retailer, Zando and its Tunisian operations by the end of the year. CEO Francis Dufay revealed that the…
Sustainability: Dangote Cement commits to carbon emission reduction for business optimisation
As part of activities marking the 2024 Global Sustainability Week, leading Cement manufacturer, Dangote…
OVH Acquisition: Nigerian man seeks to halt merger
A Nigerian citizen, Targema Steve, has filed a lawsuit at the Federal High Court in Lagos, requesting the court to dissolve the merger between NNPC Retail Limited, Nueoil Energy Limited, and OVH Energy Marketing…
Shell’s $1.3bn Oil Assets’ Sale Not in ‘Waiting Room’ as FG Rejects Renaissance’s Bid
•NUPRC concludes assessment, communicated decision to bidders in early August •Posers over…
Nigeria’s foreign reserves rose to $39bn in October — Cardoso
The Governor of Central Bank of Nigeria, CBN, Olayemi Cardoso, said yesterday that the country’s foreign reserves rose by 12.74 per cent to $39.12 billion as at October 11. He also said though inflation had…
Danjuma launches own airport, hotel as Nigeria govt hands over Kashimbila power Dam to firm
The federal government has formally handed over the Kashimbila Dam to KP Hydro Limited, a private firm belonging to former Minister of Defence, Theophilus Danjuma. The handing over took place at the Dam site…
Reform Bills: No Plan To Introduce New Taxes, Increase Existing Ones – FIRS
Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has clarified that the four bills transmitted to the National Assembly on tax reforms by President Bola Ahmed Tinubu are not aimed at…
Our Interventions Have Produced Encouraging Outcomes – Cardoso
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says “strategic interventions” of the apex bank have produced encouraging outcomes. He stated this while making a presentation at a stakeholders’…
NNPC Agrees to Sell Petrol at ₦995/litre to Independent Marketers
Following a dramatic intervention by the Department of State Services (DSS), the Nigeria National Petroleum Commission Limited (NNPCL) have reportedly agreed to sell Premium Motor Spirit (petrol) to members of the…
BREAKING: Nigeria’s inflation rate in September rises to 32.70% due to petrol price increases
Nigeria’s headline inflation rate in September 2024 rose to 32.70%, up from 32.15% in August 2024, marking a 0.55% increase month-on-month. This is…
Court ‘freezes’ 818 bank accounts indicted in N10 billion cyber-attack on Hope PSBank
The Federal High Court in Abuja has granted the Inspector General of Police (IGP) an additional 30-day freezing order against 818 bank accounts currently under investigation for allegedly receiving “proceeds of…
Interest rate: Cardoso setting Nigeria on the right course, says World Bank
The World Bank has lauded the reforms led by the Central Bank Governor, Yemi Cardoso, noting that his monetary policies are steering the country in the right direction. Indermit Gill, Senior Vice President…
FG plans 25% tax on Nigerians earning above N100m
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that wealthy Nigerians earning N100m and above monthly will face a 25 per cent personal income tax rate if a new…
Recapitalisation: Five banks’ shares oversubscribed — SEC DG
The Director-General of the Securities and Exchange Commission, Dr Eromomotimi Agama, has stated that the five banks that tapped the market to raise fresh capital were oversubscribed. This was disclosed in a…
Almost 90% of taxpayers are people who shouldn’t be paying – Taiwo Oyedele
Taiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, says 90 percent of Nigerian taxpayers currently are people who should not be taxed. Speaking at the 30th Nigerian Economic…
Four bloggers re-arraigned over GTCO CEO cyberstalking
The Police on Monday re-arraigned four bloggers, Precious Eze, Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami, on fresh charges before the Federal High Court in Lagos for allegedly cyberstalking and publishing…