Financial
  • December 26, 2023

Financial Crisis Hits Discos Harder as Only 504,729 Meters Installed, Leaving 7.1 Million Customers Unmetered

The financial crisis in the electricity industry is hitting the Distribution Companies (DISCO) harder, as only a total of 504,729 meters were installed by electricity distribution companies between January and September 2023.The number of power consumers without meters across the country is now 7,117,167. Data obtained from the latest third quarter report of the Nigerian Electricity […]

Read More
Economy
  • December 22, 2023

CBN Investigates Naira Scarcity, to Sanction Erring Banks & POS Operators

The Central Bank of Nigeria (CBN), is investigating collusion between the banks and Point-of-Sale operators over the lingering cash scarcity in the country. The Apex bank in a statement titled, ‘CBN cautions banks, PoS operators over availability of the naira …Provides digital feedback box to address complaints’. The Bank said, “The attention of the Central […]

Read More
Business
  • December 22, 2023

Dangote Refinery Takes Delivery of Another One Million Barrels of Crude

Dangote Refinery has made a further move towards the commencement of production of refined petroleum products with the receipt of an additional one million barrels of bonny light crude supplied by the Nigeria National Petroleum Corporation Limited (NNPCL). The fresh one million barrels of crude from the Shell terminal via the MT Otis owned by […]

Read More
Business
  • December 20, 2023

Nigeria Loses $7bn Yearly to Poor Seaport Management in Maritime Sector

 The Nigeria’s House of Representatives said the country  is losing an estimated $7 billion annually as a result of poor management of seaports. This followed the adoption of a motion moved by Mr Julius Ihonbvere and Mr Ibrahim Isiaka, on the need  to “investigate gaps and loss of opportunities in the maritime Sector”. “Nigeria’s seaports […]

Read More
News
  • December 18, 2023

Respite for Africans as Pharmaceutical Technology Foundation Gets Underway

Africa’s efforts to build a resilient and self-reliant pharmaceutical industry for the continent advanced significantly today as the African Pharmaceutical Technology Foundation and the Rwandan Government signed the host country agreement paving the way for the Foundation’s operationalisation. The Foundation also signed a memorandum of understanding with the European Investment Bank to further strengthen cooperation. […]

Read More
Business
  • December 18, 2023

Senate Tasks Revenue Generating Agencies on Surpassing N18.3tril Target

The Nigerian Senate through its Committee on Finance , has tasked the various revenue generating agencies owned by the Federal Government, to surpass the target of N18.324trillion, set for the 2024 fiscal year as aggregate revenue inflow. President Bola Tinubu had last month, presented to the joint session of the National Assembly, N27.503trillion as total […]

Read More
A man exchanges Nigeria’s currency Naira for US dollars in Lagos, Nigeria (Photo by PIUS UTOMI EKPEI (AFP)
 Financial
  • December 15, 2023

Nigeria’s Inflation to Fall with Reduced Pressures On Exchange Rate in 2024, Says CBN

The Central Bank of Nigeria (CBN) said the country’s inflation rate and the pressures on the exchange rate will reduce in the coming year. While the country’s inflation rate jumped to 27.33% for November – the highest in 18 years, the apex bank’s governor Yemi Cardoso projects a slump in 2024.  “The outlook for the domestic […]

Read More
News

Cybersecurity Trends for 2024 Reveals Shocking Revelation for Africa

KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platform, announced its 2024 cybersecurity predictions for Europe, the Middle East and Africa (EMEA) from its team of local industry experts. Cyber threats are more sophisticated and complex than ever and evolving quickly with new technology like AI becoming increasingly advanced every […]

Read More
President Bola Tinubu presents the 2024 budget proposal in Abuja on November 29, 2023.
News
  • November 30, 2023

Designed to Strangulate Poor Nigerians’, PDP Faults Proposed N27trn 2024 Budget

Opposition Peoples Democratic Party (PDP) has faulted the ‘Budget of Renewed Hope’ presented by President Bola Tinubu before a joint session of the National Assembly on Wednesday, saying the N27.5trn budget estimates was designed to strangulate poor Nigerians. The party, in a statement by its spokesman, Debo Ologunagba, alleged that the proposed budget by the […]

Read More
Economy
  • November 27, 2023

Nigerian Govt Set to Raise N200m from Philanthropy for MSMEs Funding 

The Nigerian Government intends to raise N200m from a philanthropic organisations as part of efforts to create jobs and support Micro, Small, and Medium Enterprises (MSMEs) The Senior Special Assistant to the President on MSMEs and Job Creation, Office of the Vice President,Temitola Adekunle-Johnson in a statement said the funds will be invested in key […]

Read More