Business
The rhythm of Nigeria's business world
Nigeria
Nigerian National Petroleum Company Appoints Olufemi Soneye as Chief Corporate Communications Officer
The Nigerian National Petroleum Company Limited (NNPCL) has appointed Olufemi Soneye as its Chief Corporate Communications Officer. The announcement was made in a statement released by the NNPCL. Mr. Soneye, a seasoned journalist with experience at respected publications in Nigeria, Australia...
Nigeria
Loss to the Financial Community: Olabode Agusto, Nigeria’s Credit Rating Stalwart, Dead at 68
Olabode Agusto, the esteemed founder of Agusto & Co. Limited, has passed away at 68, although the cause of his death has not been disclosed. Agusto was influential in Nigeria's economic landscape, having worked in the private and public sectors for over three decades.
According to TheCable...
In a distressing economic downturn, Nigeria's naira has reached an all-time low against the dollar, trading at 999 on the official market, as reported by Reuters. This significant depreciation is similar to the persistent weakness in the parallel market, where a scarcity of dollars puts enormous...
Nigeria
Nigeria’s Game-Changer: $200M Afreximbank Deal Supercharges LNG Project, Unlocking New Energy Frontiers
Image by Rudy and Peter Skitterians
In a monumental move, Nigeria has inked a deal with the African Export-Import Bank (Afreximbank) to fund a $200 million Liquefied Natural Gas (LNG) project in Bayelsa State, according to Vanguard News. The agreement, a significant stride towards Nigeria’s...
In a significant and alarming development, the Naira, Nigeria's national currency, suffered a dramatic drop to its lowest rate ever against the United States dollar in the official market. According to market data released on the FMDQ website, the local currency concluded its trading session at...
Nigeria
Millions in Tax Incentives: 71 Companies Benefited from N390.26 Billion Tax Waivers in Two Years
An investigation conducted by The PUNCH has revealed that approximately 71 companies benefited from N390.26 billion in pioneer status incentives over a two-year period. This data was obtained from the Federal Inland Revenue Service annual reports, which indicated that N1.43 billion was utilized...
Americas
Elon Musk's X Embarks on Testing $1-Per-Year Subscription for Content Posting on Social Media Platform
Image Credit: Trevor Cokley
Elon Musk's social media platform, X (formerly Twitter), has begun testing a subscription model called "Not A Bot" in the Philippines and New Zealand. The plan, priced at $1 annually, grants users the ability to post content...
Nigeria
Naira Drops to Record 980 per Dollar in Official Market, Reflecting Persistent Dollar Shortages and Economic Challenges
Photo by Sunday Abegunde on Unsplash
According to Reuters, Nigeria's naira has plummeted to an unprecedented low against the dollar, hitting 980 naira per dollar in the official market. This record devaluation mirrors the ongoing weakness in the parallel market and underscores the persistent...
South Africa is on the verge of a remarkable economic comeback that could see it surpass Nigeria as the largest economy on the African continent. As the South African economy continues to recover and grow, it is expected to topple Nigeria's long-standing dominance, a shift that carries...
Nigeria
Former Central Bank Deputy Governor Criticizes Nigerian Government's $1.5 Billion World Bank Loan
Former Deputy Governor of the Central Bank of Nigeria (CBN) and one-time presidential candidate, Kingsley Moghalu, has launched a scathing critique of recent financial decisions made by the Federal Government of Nigeria. His condemnation revolves around two key issues: Nigeria's pursuit of a...
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