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Ethiopian Airlines Group is keenly awaiting approval from Nigeria's new administration to advance its partnership with Nigerian Air. As reported by The Reporter Ethiopia, the airline group had successfully secured a bid last year, agreeing to acquire a 49 per cent stake in Nigerian Air, the...
Nigeria's Finance Minister, Wale Edun, has underscored the critical importance of stabilising the naira before contemplating the termination of oil subsidies. In a recent dialogue with The Africa Report, Edun conveyed his mission to reassure global investors about Nigeria's unwavering commitment...
The World Bank has given the green light for a new $700 million loan to support the Adolescent Girls Initiative for Learning and Empowerment program in Nigeria. This initiative aims to enhance secondary education prospects for girls in targeted states.
With the additional financing, the project...
Nigeria has successfully garnered $13 billion in investment commitments within its oil and gas sector, with major international energy giants such as ExxonMobil, Shell, and TotalEnergies pledging their support, revealed Olu Verheijen, Special Adviser on Energy to Nigeria's President Bola Tinubu...
The foreign exchange crisis in Nigeria has deepened as the Nigerian naira surpassed the grim milestone of N1,000 to the US dollar in the parallel market, according to Daily Trust. A survey of popular black markets in Lagos showed that the dollar traded between N1,000 and N1,050 during the early...
Former employees of Honeywell Flour Mills (HFM) Plc staged a peaceful protest against Flour Mills of Nigeria (FMN) Plc's decision to deduct gratuity from their severance packages. The demonstration occurred at HFM's Tincan office, where more than 25 ex-workers held placards reading, "Our...
The Central Bank of Nigeria (CBN) has introduced an online platform called the CBN Licensing, Approval and Other Requests Portal (CBN LARP) for microfinance bank (MFB) license applications. This new digital platform will replace the previous manual submission process for MFB license...
The exchange rate between the Nigerian naira and the US dollar plummeted to an all-time low of N983/$1 in the black market, according to data from Nairametrics. This represents a 2.93% drop from the previous day's rate of N955/$1 and a significant depreciation from the N950/$1 rate observed just...
PayDay, a Nigerian fintech startup, has been in turmoil as it discusses a potential acquisition. The company, which raised $3 million in a seed funding round led by Moniepoint six months ago, is reportedly negotiating with potential buyers.
Favour Ori, CEO of PayDay, confirmed that the company...
Kano, Nigeria — The Nigerian National Petroleum Company Limited (NNPC) has made a significant move by compulsorily retiring all management staff members with less than 15 months remaining until their statutory retirement. The decision, announced via the company's official social media platform...
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