Business

The rhythm of Nigeria's business world
Akinwumi Adesina condemns the Dangote/NNPC dispute, calling it detrimental to Nigeria's investment prospects. He argues that undermining major investors like Dangote harms the country’s economic future and deters potential investment. Adesina emphasizes the need to support local industries and...
Nigeria's lawmakers have launched a probe into crude oil shortages and fuel importation issues at the Dangote Refinery. The investigation, spurred by tensions with the regulatory authority, aims to address substandard fuel imports and refinery supply problems. The findings will be reported to...
The naira surged to N1,500.32/$, marking its best daily gain since March, driven by increased inflows from the CBN and anticipated interest rate hikes. The CBN's efforts, including a $106.5 million injection, aim to stabilize the currency amid rising inflation and economic challenges. The naira...
Elon Musk shares his regret over approving puberty blockers for his transgender child, criticizes California's gender identity law, and announces the relocation of SpaceX headquarters to Texas. Musk condemns the manipulation of children during identity crises and vows to combat the “woke mind...
Heineken Lokpobiri, Nigeria's Minister of State for Petroleum Resources, met with Aliko Dangote and NMDPRA's Farouk Ahmed on July 22, 2024, to address issues affecting the Dangote Refinery. The meeting aimed to resolve conflicts and improve collaboration for the refinery's success and Nigeria's...
On July 22, 2024, the black market exchange rate for USD to NGN in Lagos is ₦1,590 buying and ₦1,598 selling. In contrast, the Central Bank of Nigeria sets its official rates at ₦1,584 buying and ₦1,585 selling. Rates may vary slightly due to market conditions. On July 22, 2024, the black...
The IMF's latest report reveals the top African countries with the highest debts. Egypt leads with $10.2 billion, followed by Angola, Kenya, and Ghana. Nigeria ranks eighth with $1.23 billion. The report highlights the financial strain on these nations and the IMF's influential role in their...
Nigeria's House of Representatives launches probe into claims of substandard petroleum products. Investigation to cover local refineries, including Dangote, amid dispute with NMDPRA. Comprehensive testing and stakeholder involvement are planned. Aims to address fuel quality concerns and restore...
President Bola Tinubu appoints former LASU Vice-Chancellor John Obafunwa as the new Director-General of the Nigerian Institute of Medical Research (NIMR), effective July 24. Obafunwa succeeds Babatunde Salako and brings extensive experience in forensic pathology and academic leadership to his...
Nigeria's MPC meeting on July 22-24 is expected to result in a mild rate hike amid high inflation. The naira faces pressure, potentially reaching N1,600/$. Key economic data releases and the FAAC disbursement report are anticipated. AIICO Insurance plans its AGM amidst these economic challenges...
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