Category: Business
Fidelity Bank Plc has disbursed over N100 billion loans to Small and Medium Enterprises (SMEs) in the real sector in the first half of the year. The bank has also leveraged its lending framework to partner with several Development Finance Institutions (DFI) such as, Development Bank of Nigeria (DBN), Bank of Industry (BOI), African Development […]
Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, says the recent increase in the prices of petrol, diesel and aviation fuel has adversely affected businesses. Adebayo spoke yesterday at the Nigerian Content seminar during the Nigerian Oil and Gas (NOG) conference in Abuja. The session had: “Expanding the Nigerian Content Frontier through Intra-African Trade” […]
The Association of Master Bakers and Caterers of Nigeria (AMBCN) South-East chapter, has said it is set to withdraw its services from Wednesday, July 13, 2022, as directed by its national body. The Zonal Chairman of the association, Chief Dominic Nwibe made this known in an interview with NAN on Wednesday, July 06, 2022, in Abakaliki, the […]
Naira plunged further on Tuesday, depreciating 0.9 per cent against the dollar at the official market. The local currency, which opened trading at N422.71 closed at N430.00 to a dollar on the dot on Tuesday, data published by FMDQ, where forex is officially traded, revealed. This represents a N4.25 or 0.99 per cent devaluation from N425.75 […]
Bandits in Katsina attacked President Muhammadu Buhari’s Advance Team of security guards, protocol and media officers ahead of the President’s trip to Daura for the Sallah celebration. This was confirmed in a statement by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, late Tuesday evening. Also in Katsina, bandits […]
On Monday, Naira, Nigeria’s currency depreciated further at the official market known as the Investors and Exporters (I&E) forex window following the dollar shortage, traders said. After trading on Monday, the naira lost 0.18 percent as the dollar was quoted at N425.75 compared to N425/$ closed on Friday, data from the FMDQ indicated. Most foreign […]
Multichoice Nigeria, organisers of Big Brother Nigeria (BBNaija), biggest reality TV show in the country, has unveiled the Season 7 of the show. Speaking at the unveiling event at Mariott Ikeja Hotel, Lagos today, Busola Tejumola, head of content, west african channels, Multichoice, noted that the new season will surpass the previous editions in engagement, […]
The European Union (EU) has revealed its commitment to financially support the agricultural sector in Nigeria, assisting the African country to diversify its economy away from oil. Nigeria has been dependent on oil, which accounts for 90% foreign currency earnings, as well as contributing 7% to the country’s gross domestic product. This had heavily impacted […]
Nigerian banks’ total assets rose by N11.15 trillion in one year to N64.32tn as of the end of April. This is according to figures obtained from the Central Bank of Nigeria (CBN) website. The data revealed that the assets of commercial banks rose from N53.17 trillion in the corresponding period of 2021. The 2022 numbers showed a […]
The Lagos State Government has announced the shutdown of the Redeemers Nursery and Primary School, Ogba, over concerns about the safety of the pupils in the school. This follows the death of a 5-year-old pupil, who was suspected to have drowned during a swimming lesson while in the custody of the school. This disclosure is […]
The Federal Government has declared that the current financial situation of Nigeria brought about by the global COVID-19 pandemic and dwindling revenue has made the shift to Public-Private Partnerships more important than before for Nigeria. This was disclosed by Boss Mustapha, the Secretary to the Government of the Federation (SGF), at a two-day Africa Public Private Partnership […]
Tolu Ogunlesi, the Special Assistant to President Muhammadu Buhari on Digital and New Media has said that Peter Obi’s claim that Nigeria has been having meetings with Siemens without progress is not true. In a Twitter post, he alleged that lots of activities have been ongoing with regards to the Siemens deal as against what […]
The Organisation of Petroleum Exporting Countries (OPEC) and the non-member OPEC+ (a grouping of OPEC plus allied producers, including Russia, has approved a daily oil output 648, 000 barrels per day for the month of August. This was its position after its virtual meeting, yesterday. The slight increase in output is an indication that the […]
The open indicative rate closed at N421.80 to the dollar on Wednesday. An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N424.88. The naira sold for as low as 410 to the dollar within the day’s trading. A total of 112.83 million dollars […]
President Muhammadu Buhari has approved the renewal of the appointment of Patience Oniha as the Director-General of the Debt Management Office (DMO) for a second term of 5 years in accordance with Section IV (9-i) of the Debt Management Office (Establishment ETC) Act, 2003. The renewal takes effect from July 1, 2022. Her appointment for a second […]
