Nigeria’s digital economy through virtual payments, e-commerce and other digital services is capable of contributing 45 per cent to the country’s Gross Domestic Product (GDP), Minister...
The closure of Nigerian borders is doing the country good, given that Nigeria is now on course to achieving self-sufficiency in rice production, Minister of Finance,...
The Nigerian government Thursday launched the application for the N75 billion Nigerian Youth Investment Fund, which seeks to empower Nigerian youths falling within the age range...
The Federal, states and local government councils on Thursday shared a total of N639.9billion as revenue allocation for September. The Federation Accounts Allocation Committee (FAAC) announced...
The Nigerian National Petroleum Corporation (NNPC) Thursday declared a loss of N1.7 billion for the 2019 financial year, a 99.7 per cent reduction from a loss...
The World Bank is in talks with the International Monetary Fund (IMF) with a view to offering debt reduction to Nigeria and other member countries of...
Nigeria’s headline inflation, which measures the cost of living through average change in the prices of goods and services consumed in everyday living, quickened to 13.71%...
The construction of the 680-metre long quay wall of the $1.5 billion (around N6 billion) Lekki Deep Seaport, currently under construction at the Lagos Free Trade...
Nigeria’s foreign reserves fell by $50.83 million from $35.75 billion to $35.69 billion in the ten-day period between 2nd and 12th October 2020, data from the Central Bank...
The equity section of the Nigerian Stock Exchange (NSE) closed flat on Wednesday as buy and sell pressures drew level, with bank stocks driving trade. A...
The Nigerian government will seek to proscribe milk imports by 2022 as Africa’s biggest economy eyes self-sufficiency in dairy production, Minister of Agriculture and Rural Development...
The Department of Petroleum Resources (DPR) said Nigeria aspires to expand its oil reserves alongside its condensates enormously to 40 billion barrels by 2025, London-based energy...
Nigeria has become Africa’s biggest rice producer, Minister of Agriculture and Rural Development Sabo Nanono said in Abuja on Tuesday at an occasion commemorating the 2020...
Nigerian government’s wage bill climbed by 150 per cent in the five-year period between 2015 and 2020, Minister of Finance Zainab Ahmed said Tuesday at the...
The International Monetary Fund (IMF) has forecasted that the Nigerian economy will slow down by 4.3% this year, reversing it from its earlier projection of -5.4%. The...
The Nigerian bourse managed to make a slight advance on Tuesday following days of straight losses as profit-taking efforts limited gains. Stanbic, Nigerian Breweries, International Breweries,...
Oil prices climbed on Tuesday, partially reversing an almost 3% loss from the Monday session, invigorated by strong China data, much as anxieties surrounding supply restart...
Naira depreciated against the United States dollar at various segments of the foreign exchange market on Monday. The local currency closed at N460 to a dollar...
The pay-as-you-go billing model for pay-TV, clamoured for by Nigerians, is not viable commercially and technically, John Ugbe, the chief executive officer of MultiChoice Nigeria, owners...
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on Monday said it had retrieved a previously unremitted excise duty worth N474 million from beer maker, Guinness Nigeria Plc....
The Nigerian government will next year spend 21% more than it did in 2020, according to its spending plan for 2021. Debt service will be higher by 6%...
The Nigerian Stock Exchange (NSE) contracted by N40.673 billion on Monday as profit-taking actions deepened. The Insurance Index was the day’s worst performer of the five...
Oil prices weakened on Monday as Libya removed force majeure on its biggest oilfield, a Norwegian industrial action hindering production came to a halt and producers...
The Nigerian government has directed electricity distribution companies (Discos) to prolong the suspension of new electricity tariffs by a week. James Momoh, chair of the Nigerian...
Nearly three-fourths of the freight conveyed by way of road transportation in Nigeria ought to be transported via inland waterways, Secretary to the Government of the...
Firms looking to set up gas-dispensing facilities will henceforth get three approvals and licenses, and scale other regulatory hurdles before obtaining the go-ahead to begin operations,...
The Nigerian bourse gains on Monday and Tuesday last week but recorded losses Wednesday through Friday, with the development and other fundamental factors informing Ripples Nigeria...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the mainstream...
The Central Bank of Nigeria (CBN) has directed all banks operating in the country to comply with SWIFT Universal Confirmation Requirements. The CBN’s Director of Banking...
Unlike last week where the tech space was occupied with equity raisers and new product launches, this week under review came with a new shade -from...
The equity segment of the Nigerian Stock Exchange (NSE) enlarged by N747.194 billion this week, supported by a major gain of N708 billion on Tuesday, the market’s biggest single...
Nigeria’s unemployment rate is seen climbing to 30% by the end of the year as the pace of economic growth in Africa’s biggest economy slows further....
Sell pressure on bank stocks accounted most for the fall by N68.427 billion in the market value of the equities segment of the Nigerian Stock Exchange...
Oil prices edged up on Friday, brightening the two benchmarks’ chances of recording their strongest weekly advancements since early June, following output shutdowns occasioned by a...
The Central Bank of Nigeria (CBN) has warned Nigerians against dubious loan offers and investment schemes through messages and videos on social media, requesting loan seekers...
The World Bank has said Nigeria’s removal of fuel subsidy is a crucial decision taken in the face of the coronavirus crisis. It observed in its...
The equity section of the Nigerian Stock Exchange (NSE) entered a second day of loss on Thursday, with the bourse shedding N46.064 billion, driven by profit-taking...
Revenue mobilisation remains the biggest challenge to funding annual budgets in the country including the proposed 2021 budget just presented to the National Assembly, President Muhammadu...
Oil prices climbed on Thursday, bolstered by production outages in the Gulf of Mexico and potential of higher supply losses in Norway and by optimism regarding...
Nigeria requires an outlay of $2 billion to provide electricity to 80 million people or roughly 39% of its population, who do not have access to power,...
Commuters in Nigeria may have to brace up for difficult times ahead as transport fares could increase by up to 500 per cent in the coming...
Nigeria, Africa’s biggest country by population with more than 200 million people, now has the largest concentration of the most indigent people in sub-Saharan Africa at...
Traders rushing to recoup investments by leveraging the recent uptrend in the equity segment of the Nigerian Stock Exchange (NSE) spurred the cessation of the 12-day...
The Senate on Wednesday mandated its Committee on Banking, Insurance and Other Financial Institutions to investigate the alleged illicit and excess charges by commercial banks in...
Ngozi Okonjo Iweala, Nigeria’s former minister of finance and coordinating minister of the economy, has made the cut for the last voting round for the position...
The Onitsha seaport was on Tuesday commissioned after several years of construction works. The declaration was made by Tolu Ogunlesi, the media aide to the president,...
Oil prices declined Wednesday following U.S. President Donald Trump’s cancellation of a fourth stimulus package and a surprise build in the U.S. oil stockpiles. Brent crude futures...
The Nigerian Economic Society (NES), a private sector economic think-tank, on Tuesday said the non-inclusion of its members on President Muhammadu Buhari’s National Economic Management Team...
Nigerian businesses experienced muted growth last month as the weight of the coronavirus pandemic on the economy aided the slow pace of expansion, data from the...
Nigeria’s public debt portfolio could touch N34 trillion, around 23 per cent of its gross domestic product, by year end as Africa’s biggest economy continues to...