Business

The rhythm of Nigeria's business world
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2 min read
The Nigerian government has restated its commitment to centralizing its data through the National Identity Management Commission (NIMC). Hon. Olubunmi Tunji-Ojo, the Minister of Interior, emphasized the government's dedication to the program's success and confidently stated that the era of...
The global crude oil prices have surged to a staggering $93.55 per barrel, raising concerns about another petrol price hike in Nigeria. This price increase coincides with the continued depreciation of the Naira against foreign currencies, with the Naira exchanging at N980/$1 on the parallel...
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1 min read
The financial landscape of Nigeria presents a tale of contrasts. Recent reports highlight the top tier-one banks in Nigeria amassing a combined gross earning of N4.2 trillion in the first half of 2023. These figures, as reported by The Guardian Nigeria, are undeniably impressive, showcasing the...
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1 min read
NNPC Ltd, Nigeria's state oil firm, and leading oil companies have decided to streamline their contract discussions in a move that resonates with the aspirations of every Nigerian. According to Reuters, the negotiation period is set to be reduced from three years to just six months. This...
Nigeria's public debt has reached new heights, with each citizen now carrying a substantial debt burden of approximately N396,376.19, according to recent data from the National Bureau of Statistics (NBS). The figures, released by the NBS, underscore the alarming rise in the country's public...
The Cement Producers Association of Nigeria has expressed concern that the federal government's plan to introduce concrete roads may lead to a significant increase in cement prices, potentially reaching N9,000 per bag, up from the current N5,000. In a joint statement by the National Chairman...
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1 min read
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...
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1 min read
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...
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