Category: Business
In recent years, the world has faced several difficulties. The most pressing at the moment is the seemingly unmanageable coronavirus pandemic. In addition to its impact on investments, the pandemic caused a major economic shock, proving challenging to all business enterprises. The experiences many business owners and investors have faced has opened their eyes to […]
The Central Bank of Nigeria has revealed that it will stop the sale of foreign exchange to Deposit Money Banks by the end of the year. According to the CBN Governor, Godwin Emefiele, banks must begin to source their forex from export proceeds, hence the need to support non-oil exporters in the country. He pointed […]
International Monetary Fund (IMF) says the Nigerian economy is recovering from a historic downturn benefitting from government policy support, rising oil prices and international financial assistance. IMF disclosed this in a statement issued from its headquarters in Washington D.C. on Monday. The organisation said Nigeria exited the recession in fourth quarter 2020 and output rose […]
You must have realized that everyone is talking about cryptocurrencies. As tempting as it might be, you should not just jump into the crypto trading market. You need to have a proper understanding of the market. Many people are making money in the crypto market but many are also losing it. If you want to […]
The Petroleum Tanker Drivers branch of the Nigeria Union of Petroleum and Natural Gas workers on Wednesday threatened to begin a sudden nationwide strike to protest the failure of the Federal Government to fix 21 selected highways based on agreement reached by stakeholders. Also, the drivers, under the endorsement of NUPENG, stated that they had […]
The Federal Government on Wednesday said it has initiated the process to investigate the supply of adulterated petrol to country, which has reportedly damaged many car engines of motorists. The Minister of State for Petroleum Resources, Timipre Sylva, disclosed this to State House correspondents at the end of the virtual Federal Executive Council, FEC, meeting, […]
The current state of the Nigerian economy has placed individuals in precarious financial situations, especially with the inflation rate rising at 15.63% as of December 2021. Several small and medium-sized business owners in Nigeria have had to persevere and adapt to the socio-economic challenges and the COVID-19 pandemic disruptions. Nevertheless, businesses must survive and navigate […]
The total value of investment announcements tracked in Nigeria for the year 2021 was 23.30bn, representing about 39% more than that of 2020, which was $16.74bn. Mr. Emeka Offor, Acting Executive Secretary/CEO of the Nigerian Investment Promotion Commission, NIPC, disclosed this at the Q1, 2022 media parley on investment promotion activities in the country. According […]
Investors committed about N3.36tn to Federal Government bonds between January and December 2021, according to an analysis of the FGN Bond Auction results available on the website of the Debt Management Office. Bond oversubscriptions hit N1.61tn within the period under review, indicating the investors’ strong appetite for FGN bonds. An analysis of the breakdown for […]
The President, African Development Bank, Dr Akinwumi Adesina, says Africa needs $484bn over the next three years to tackle the socioeconomic impact of the COVID-19 pandemic and boost economic recovery. Adesina said this on Saturday at the opening of the 35th African Union Summit in Addis Ababa, Ethiopia. A copy of his speech was published […]
THE price of Nigeria’s Bonny Light, yesterday, surged further to $91.38 per barrel, from $90.31, recorded the previous day, indicating an excess of $29.38 against the $62 per barrel benchmark of the nation’s 2022 budget. The leap in price was attributed to a combination of factors, including the declining oil inventory, due mainly to rising […]
Nigerian smartphone users recorded the highest mobile web traffic in the world for 2021, as more internet population migrate from desktop and laptop to more convenient technology. According to a survey carried out by StockApps.com, mobile phones accounted for 54.86% of global web traffic as of December 2021, up from the 4%-8% reported by the StatCounter.com in […]
THREE years after approving N5 billion for Vehicle Financing Trust Fund, the Federal Government has failed to release the fund, investigation has revealed. The fund is critical to the takeoff of the vehicle financing scheme that should enable Nigerians purchase new vehicles with ease. The scheme is part of the five-point comprehensive programme of the […]
Naira slipped further against the U.S. dollar at the official market on Tuesday, extending its depreciation at the spot market segment to a second day. The local currency closed at N416.67 to a dollar at the close of trade on Tuesday, data posted by FMDQ where forex is officially traded, showed. This implies a N0.17 or 0.04 […]
Mark Zuckerberg’s wealth depleted in the last 24 hour, as report circulated that his company, Meta, could shutdown Facebook and Instagram services to the European market. Meta, formerly known by the corporate name, Facebook, has been facing data transfer challenges in Europe, due to the continent’s data privacy laws, which the tech giant says is hindering […]
