The Federal Government has disclosed plans to introduce an emergency economic bill to boosts its revenue from the non-oil sector in Nigeria. The Minister of Finance...
Importers and exporters operating at the Eastern ports of the country, have lamented the impending inflation, following an alleged 200 per cent hike in haulage rate...
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr Mele Kyari, has said that harnessing natural gas resources in Nigeria is crucial...
The Nigerian National Petroleum Company Limited (NNPCL) has underscored the significance of prioritising natural gas production and supply, particularly in the context of geopolitical dynamics and...
The secretary general of the International Maritime Organisation (IMO), Arsenio Dominguez, has expressed readiness to collaborate with the newly appointed director general of the Nigerian Marítime...
Investors are currently favouring investment in Treasury bills and bonds ahead of private sector funding amid high interest rates, LEADERSHIP learnt. Capital is a vital ingredient...
Billionaire industrialist Aliko Dangote has said his refinery’s ability to sell diesel at significantly discounted prices will provide immediate relief to Nigeria’s inflation woes.He disclosed this...
Geregu Power Plc, the first listed power company on the Nigerian Exchange Group, has generated N50.4 billion in revenue from electricity sales and capacity charges to...
Kaduna Electric has set up rapid response teams to respond to down time on Band A feeders in Kaduna and called on customers to contact the...
The Customs exchange rate for computing import duty at the nation’s seaports has dropped from N1,246.66/$ to N1,238/$1. The reduction represents a decline of N6.14 in...
The United States inflation figure increased to 3.5 per cent in March from 3.2 per cent in February. This is according to consumer prices figures from...
The Minister of Finance, Wale Edun, announced the allocation of N4.83 trillion from Treasury Bills and Bonds to settle the outstanding Central Bank of Nigeria (CBN)...
Prof Ibrahim Adeyanju, the Managing Director and Chief Executive Officer of Galaxy Backbone, has extended warm greetings and heartfelt wishes to the Muslim Ummah in Nigeria...
Alphabet, Google’s parent company, soared to $1.95 trillion, its highest-ever share price, on Tuesday. Data from Google’s performance in the stock market showed that its stock...
The Central Bank of Nigeria (CBN), led by its Governor, Yemi Cardoso, has implemented various policies and reforms aimed at stabilising the naira and returning the local...
Despite daunting challenges in the banking sector and the economy, six leading banks in the country generated mouth-watering returns for their shareholders in the 2023 financial...
The Nigerian federal government has used part of the Nigerian Treasury Bills, NTBs, and Bonds issued in 2024 amounting to N4.83 trillion to pay Ways and...
The founder of Dangote Petrochemical Refinery, Aliko Dangote, will meet with marketers next week to discuss the pricing of petroleum products from the refinery and other...
The Presidency says the consistent appreciation of the Naira in the past weeks indicates that the incredible sacrifices of Nigerians have started paying off. Aguri Ngelale,...
Federal government has commenced the process of repatriation of foreign denominated assets into the formal financial sector of the economy as part of efforts to boost...
The Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), has insisted that the duties collected by the Nigeria Customs Service (NCS) should be...
The National Association of Nigeria Travel Agencies (NANTA) has disclosed that for the last quarter of the year 2023, ticket sales reduced by 40 per cent...
The Lagos Chamber of Commerce & Industry (LCCI) has urged the federal government to provide special support mechanisms to strategic companies and industries that play critical...
Nigeria’s total active mobile subscribers reached 219.7 million in February 2024, as internet usage dipped to 694,804.54 terabytes (TB), new data from the Nigerian Communications Commission...
The six months mandatory Credit Management Academic Improvement Programme, popularly known as MCMAIP introduced by the National Institute of Credit Administration (NICA) for those it has...
Analysts have predicted that Nigeria’s inflation rate will increase further above 32 per cent for the month of March. Lagos-based Financial Derivative Company (FDC), in a...
Wema Bank has recorded a profit before tax growth of 196 per cent from N14.75bn to N43.59 billion in its full Year 2023 Audited financial statement....
The Lagos State government is currently wooing key investors into the vast untapped opportunities in the state water transportation sector. The move is aimed at addressing...
Despite the long holiday declared for the Eid-el-Fitri celebration, airports across the country recorded low turnout of passengers, checks by Daily Trust have shown. Our correspondent...
The Corporate Affairs Commission, CAC, has placed the records of First Bank of Nigeria (FBN) Holdings on caveat pending the resolution of the crisis rocking the...
The popular Landmark Beach and Resort in Oniru Victoria Island has been penciled down for demolition for the construction of the 700km Lagos coastal rail. The...
Microsoft has projected that Artificial Intelligence (AI) will add about $1.2 trillion to Africa’s economy by the year 2030. This amount is part of a total...
United Bank for Africa (UBA) Plc, has released its audited financial results for the full year ended December 31, 2023, showing profit after tax (PAT) grew...
A global leader in plant nutrition and phosphate-based fertilizers, OCP Group and Fortescue Energy, a global green energy, metals and technology company, have signed a landmark...
The World Bank has predicted that West Africa’s biggest economy, Nigeria would grow at 3.3 percent this year, below its long-term average. Also, it forecasted that...
The World Bank has forecasted a promising uptick in the growth rates of African economies, with expectations of an increase from 2.6 per cent in 2023...
The World Bank says inequality in Sub-Saharan Africa remains one of the highest in the world. On Tuesday, the Washinton-based development bank disclosed this in its...
The World Bank has projected increased growth in Nigeria and other African economies to 3.4 per cent in 2024 and 3.8 per cent in 2025 from...
The Nigerian currency, the naira, witnessed a significant appreciation in the parallel foreign exchange (FX) market, reaching N1,120 to the dollar on Monday. This rate reflects...
The Nigerian National Petroleum Corporation (NNPC), is facing a payment backlog of approximately $3 billion to fuel traders for imported petrol, according to a Reuters report...
There were a series of lamentations yesterday by currency traders over the increasing losses and decreasing demand for the dollar as the naira continued to strengthen...
All On, is putting more funds into Nigeria’s energy sector, with additional investment of £1 million in MOPO. The company offers innovative pay-per-use battery solutions to...
The Ministry of Finance and TechnoServe Nigeria are exploring potential collaboration to enhance food and nutrition security in the country. A visit by TechnoServe Nigeria’s team...
Heirs Insurance Group has launched a new website that delivers the most user-friendly insurance experience in the industry. In addition to its features that aid simple...
The Murtala Muhammed Airport Command (MMA), Lagos, of the Nigeria Customs Service (NCS), on Monday, said it generated N45.23 billion from importers at the Airports in...
Nigerian banking group, FBN Holdings is planning to seek shareholders’ approval this month to shore up its capital by N300 billion ($241 million) through a public...
The Murtala Muhammed Airport Command (MMA), Lagos, of the Nigeria Customs Service (NCS) said yesterday it generated N45.23 billion from importers at the airport in the...
Guaranty Trust Holding Company Plc (GTCO) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2023, to the Nigerian Exchange...
The Nigeria National Petroleum Company Limited (NNPCL) owes around $3 billion to fuel traders for imported petrol, three sources told Reuters. The sources also disclosed that...
Mark Zuckerberg, the CEO of Meta, has outpaced Elon Musk, CEO of Tesla, claiming the title of the world’s third-richest person. This development marks Zuckerberg’s highest...
The Economic and Financial Crimes Commission, EFCC, has warned schools, supermarkets, hotels and others against charging for services in the country in dollar or any other...
The Central Bank of Nigeria (CBN) has issued a directive prohibiting the use of foreign currency-denominated collaterals for Naira loans, except in specific circumstances. The directive,...
Nigeria will in May this year receive a $1.05 billion loan from the African Export-Import Bank (Afreximbank), being part of a $3.3 billion prepayment facility arranged...
The Central Bank of Nigeria (CBN) has prohibited the use of Foreign Currency-denominated collaterals for Naira loans by all Nigerian banks. This was contained in a...
The Central Bank of Nigeria (CBN) has banned all Nigerian banks from using foreign currencies as collateral for naira loans. Naija News reports that the apex...
The Central Bank of Nigeria, CBN, has prohibited the use of Foreign Currency-denominated collaterals for Naira loans by all Nigerian banks. The apex bank disclosed this...
The Central Bank of Nigeria (CBN) has crashed the exchange rate for Bureau De Change (BDC) operators to N1,101 per dollar from N1,251/$1, following rising inflow...
The Minister of Aviation and Aerospace Development, Festus Keyamo has said that the government is working hard to address the legal issues hindering the capacity of...
A French media group, Vivendi’s Canal+, has formally offered $2.9 billion to acquire MultiChoice, owners of DStv and GOtv. According to Reuters, the company made the...
Emirates, UAE, has concluded plans to resume flights with Nigeria. This followed numerous visits from President Bola Tinubu to UAE over the communication breakdown between both...
The Central Bank of Nigeria (CBN) has announced it will commence the sale of dollars to Bureau de Change operators. This was disclosed in a circular...
End users of used imported vehicles also known as Tokunbo, are yet to heave a sigh of relief despite reduction on Customs duty of imported used...
Nigerian Exchange Group Plc (NGX Group) has made a significant investment in the Ethiopian Securities Exchange (ESX). NGX Group is among the top institutional investors that...
Prof Adegbemi Onakoya, a Finance and Business Transformation expert, has said the Central Bank of Nigeria’s recent circular on harmonizing reporting requirements for foreign currency exposures...
The Chartered Institute of Taxation of Nigeria (CITN) has charged governors in the 36 States of the federation, including the Federal Capital Territory(FCT), to increase their...
Wema Bank said it is awaiting regulators’ final verification of its N40 billion Capital raising exercise results amid the planned banking industry recapitalisation exercise recently announced...
KPMG, a global audit, tax and advisory services company, has posited that the recent decision by the Central Bank of Nigeria (CBN) to raise the Monetary...
Concern as Acting Director signing currency The Central Bank of Nigeria (CBN) has continued with the disengagement of staff in furtherance of its ongoing restructuring...
The Federal Competition and Consumer Protection Commission (FCCPC) has backed the recent fine imposed by the Nigerian Electricity Regulatory Commission (NERC) on the Abuja Electricity...
A report by ThinkBusiness Africa has stated that any increase in Sugar Sweetened Beverages (SSBs) tax in Nigeria will not deliver the objective of curtailing...
The African Export-Import Bank (Afreximbank) has said it is working hard to not only enhance trade among African countries, but also simplify it for the economic...
The Federal Competition and Consumer Protection Commission, FCPCC says unless electricity customers are metered by electricity distribution companies, DISCOS implementation of the new tariff hike will...
The Apapa Command of the Nigeria Customs Service (NCS), disclosed that it collected N489.6billion from import between January 1 and March 31, 2024. In a press...
The Chartered Institute of Bankers of Nigeria, CIBN, says it recorded a 63.60 per cent growth of operating revenue, which stood at N1.37 billion in 2023,...
The Nigerian air-waves and teeming radio listeners are set for exciting times as 11 plc, sole distributor of Mobil fuel and lubricant brands in Nigeria has...
As the value of the Naira strengthens against US dollar, the Association of Bureaux De Change Operators of Nigeria (ABCON), the umbrella body of all Central...
The Osun State governor, Ademola Adeleke, has tasked the Ibadan Electricity Distribution Company, IBEDC, to resolve the epileptic power supply in the state. According to a...
The Association of Bureau De Change Operators of Nigeria, ABCON, has appealed to the Central Bank of Nigeria, CBN, to adjust its applicable exchange rate below...
The Nigerian Electricity Regulatory Commission (NERC) has given 11 electricity distribution companies (DiCos) till April 11, 2024, to refund customers wrongly billed at the new rate....
The Minister of Solid Minerals Development, Dr. Dele Alake, has expressed the commitment of the federal government to support mining companies that place premium on local...
The African Export-Import Bank (Afreximbank), on Friday, released the consolidated financial statements of the Bank and its subsidiaries for the year ended 31 December 2023. Largely...
The Lagos Chamber of Commerce and Industry (LCCI) has expressed concerns over the challenges of doing business in Nigeria caused by multiple factors. Naija News understands...
The Nigerian Electricity Regulatory Commission, NERC, has issued five new directives to electricity distribution companies following the recent tariff hike. The directives were in a recent...
The Nigerian Federal Government, through the National Identity Management Commission, NIMC, in collaboration with the Central Bank of Nigeria, CBN and the Nigeria Inter-bank Settlement System...
The Central Bank of Nigeria (CBN), on Friday, reduced the exchange rate for computing import duty at the nation’s seaports by 5.3 per cent. The reduction...
The Lagos Chamber of Commerce & Industry (LCCI), has decried the high cost of doing business in the country, including the hike in the Monetary Policy...
Nigerian Breweries (NB) Plc, said it will be raising capital of up to N600 billion by way of a rights issue to restore the company’s balance...
Lagos The federal government through the federal ministry of Works, has stated that, the reopening of the Third Mainland bridge in Lagos was significantly geared to...
The proposed Sugar Tax hike by the federal government will destroy the investments, revenues, and jobs in the non-alcoholic sector in the country, says Think Business...
Foreign companies from across West Africa have indicated interest in participating at this year’s Gateway International Trade Fair billed to take place between April 19 and...
Minister of Innovation, Science and Technology, Chief Uche Nnaji has decried the penchant for imported products, calling on Nigerians to patronise and support local products. He...
The Naira’s depreciation over recent months has led to significant setbacks in the West African market, with trans-border traders increasingly rejecting the Nigerian currency in favor...
The Naira appreciated N351.12 against the US Dollar in the foreign exchange market in the last one month. This is according to FMDQ data on the...
The Nigerian Naira experienced a notable appreciation, reaching N1,245 per dollar in the parallel market on Friday, surpassing the official and Bureau De Change (BDC) segments’...
Chairman of Air Peace, Allen Onyema, has commended President Bola Tinubu for his forward thinking approach to Nigeria’s economic development, especially by easing challenges faced by...
Ethiopia and the World Bank have finalized loan agreements totaling $1.72 billion, aimed at bolstering critical sectors including electricity, water supply, as well as to facilitate...
Wema Bank has announced its full Year 2023 Audited financial statement, recording profit before tax (PBT) growth of 196 per cent from ₦14.75bn to N43.59 billion....
The Minister of Power, Adebayo Adelabu, says it would have been insensitive for the Nigerian government to continue paying 100 per cent electricity subsidy. Adelabu disclosed...
A former chairman of the Nigerian Bar Association, NBA, Olisa Agbakoba, SAN, has said that the economy is beginning to turn, showing signs of recovery. This...