Business

The rhythm of Nigeria's business world
NNPCL has begun shortlisting candidates for the 2024 recruitment process, specifically for Graduate Trainees and Experienced roles. Shortlisted applicants will take the Computer-Based Test (CBT) on December 7, 2024. NNPCL emphasizes a fair, merit-based process, encouraging candidates to check...
The Nigerian government has begun deducting a N50 electronic levy on transactions over N10,000 from users of fintech platforms like Opay, Moniepoint, and Kuda. The levy, introduced under the Finance Act 2020, aims to increase government revenue but has faced opposition from Nigerians, including...
The Central Bank of Nigeria (CBN) plans to retire 1,000 employees by December 31, 2024, under a ₦50 billion workforce realignment initiative. Eligible staff will receive financial incentives through the Early Exit Package (EPP), with applications closing on December 7. This move aims to...
Holcim AG has announced the sale of its 83.81% stake in Lafarge Africa to China’s Huaxin Cement for $1 billion. This divestment is part of Holcim's strategy to streamline its portfolio and focus on key markets, including North America. The deal is expected to close in 2025. Holcim AG, the Swiss...
The Nigerian House of Representatives has indefinitely suspended the debate on the controversial Tax Reforms Bills after intense opposition from lawmakers and governors, particularly from the northern states. Concerns about regional disparities and the potential negative impact on northern...
The Port Harcourt Refining Company (PHRC) halted operations days after the NNPC announced its re-streaming. Workers claim calibration is underway, but reports reveal "dead stock" was loaded instead of fresh fuel. NNPC insists the refinery is operational at 60% capacity, processing 60,000 barrels...
President Bola Ahmed Tinubu's administration is pushing forward transformative tax reforms designed to reshape Nigeria’s fiscal structure. Following the Senate's approval of the second reading for four major tax reform bills, the nation is poised for significant changes. Here are 10 critical...
The NNPCL clarified that the Port Harcourt Refinery is not yet selling products in bulk as it finalizes operational processes. Current supplies come from the Dangote Refinery and are sold through NNPCL retail outlets. The old refinery operates at 90% capacity, while the new facility remains...
The Central Bank of Nigeria (CBN) has warned banks to prioritize cash disbursement through ATMs, threatening severe penalties for non-compliance. Governor Olayemi Cardoso emphasized that banks engaged in sabotage or malpractices will face strict penalties. The CBN also highlighted reforms to...
Ngozi Okonjo-Iweala has been reappointed for a second term as the Director-General of the World Trade Organization (WTO). Her new term will begin on September 1, 2025. Okonjo-Iweala made history as the first woman and African to lead the WTO, continuing her impactful leadership in global trade...
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