The Debt Management Office (DMO) said the total public debt stock of Nigeria as at March was N49.95 trillion (108.30 billion dollars). According to a statement obtained from the DMO official website on Sunday, the total debt stock comprises the external and domestic debts of the Federal Government, the 36 states...
BUSINESS
The United Kingdom (UK) has pledged to support Nigeria through the provision of a 10-million-pound concessional aid on climate action, to boost off-grid clean energy infrastructure. Richard Montgomery, British High Commissioner to Nigeria and UK Permanent Representative to the Economic Community of West African States (ECOWAS), said this at...
The African Development Bank (AfDB) President, Dr Akinwumi Adesina, has pledged the Bank’s support toward revamping Nigeria’s economy.adesi Adesina, made the pledge during a meeting with Nigeria’s President, Bola Tinubu at the New Global Finance Pact Summit in Paris. The AfDB president, via his verified Twitter handle, @akin_adesina said:...
By DAVID IORJA, Abuja – President Bola Ahmed Tinubu has welcomed an investment of $520 million in specialised agro-processing zones by the African Development Bank (AfDB), praising the leader of the multilateral institution, Dr Adewunmi Adesina, for further opening up the economy for investments that provide job opportunities and...
The Rural Electrification Agency (REA) said it had provided power supply to over 700 households and businesses in Danchitagi community in Niger to cushion the effect of the fuel subsidy removal. Mr Ahmad Salihijo, Managing Director of the agency said this while inspecting the project on Saturday in Danchitagi...
No fewer than 6,062 farmers in Lagos State have received agricultural inputs and production assets from the Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES) programme, a World Bank supported project. Mr Jonathan Obayemi, State Project Coordinator, Lagos N-CARES, stated this at the distribution exercise in Alimosho Local Government...
A Blockchain Technology Company, EMURGO Africa in partnership with PricewaterhouseCoopers (PwC) disclosed that Nigeria ranked among the Top 10 worldwide for crypto adoption.cryp It said in a statement made available to the News Agency of Nigeria (NAN) in Lagos that this was revealed in its “State of Web3.0 in...
The Nigerian Communication Commission ( NCC) says combatting e-fraud on telecom platforms and building consumer confidence in the digital economy require a collective effort.ncc Prof. Umar Danbatta, the Executive Vice Chairman of NCC, said this during the 2nd Quarter 2023 Industry Consumer Advisory Forum (ICAF) meeting in Lagos...
MTN Nigeria on Thursday held a bazaar and trade fair for 50 Small and Medium Enterprises (SMEs) at its corporate head office in Lagos. Esther Akinnukawe, Chief Human Resources Officer, MTN Nigeria said in a statement that the event was meant to empower entrepreneurs to unlock growth and create...
The Kaduna State Internal Revenue Service (KADIRS) on Wednesday, closed the office premises of eight private companies in the state over N419.3 million tax liabilities. KADIR’s Head of Corporate Communications, Mr Zakari Muhammad, told the News Agency of Nigeria (NAN) on the sideline of the exercise that the action...
The naira depreciated further against the dollar on Thursday at the investors and exporters window, exchanging at N765.13.na It depreciated by 0.26 per cent when compared with the N763.17 for which it exchanged for the dollar on Wednesday. Open indicative rate closed at N753.50 to the dollar on Thursday....
By JOY ADARA, Abuja- The Federal Inland Revenue Service (FIRS) has partnered with the Market Traders Association of Nigeria (MATAN) to collect and remit Value Added Tax (VAT) to the FIRS from the country’s markets, especially in the informal sector. The Association which has a membership of well over...
By OLA MUDOPE, Lagos – Nigerian Exchange Limited (NGX) has commended the Board and Management of Coronation Group Limited’s recent regulatory recognition and added that this is a start of another exciting chapter for the barometer of Nigeria’s economy- the capital market. Its Chief Executive Officer, Temi...
The National Bureau of Statistics (NBS) says the number of Electricity Distribution Companies (DisCos) customers in Nigeria increased from 11.06 million in Q4 2022 to 11.27 million in Q1 2023.The National Bureau of Statistics (NBS) says the number of Electricity Distribution Companies (DisCos) customers in Nigeria increased from 11.06...
Ecobank Group and the Pan African Payment and Settlement System (PAPSS) evohave signed a Memorandum of Understanding (MoU) to facilitate the settlement of cross-border transactions of the group. A statement on Wednesday said the MOU was signed during the opening ceremony of the 30th Afreximbank Annual Meetings in Accra,...
The Naira on Wednesday depreciated against the dollar at the investors and exporters window, exchanging at N763.17.naira The Naira depreciated by 0.87 per cent when compared with N756.61 for which it exchanged for the dollar on Tuesday. The open indicative rate closed at N741.21 to the dollar on Wednesday....
First Bank of Nigeria Ltd. has won the Financial Institution of the Year Award at the African Export-Import Bank (Afreximbank), Pan African Business and Development Awards. Mrs Folake Ani-Mumuney, Group Head, Marketing and Corporate Communications, FirstBank, said in a statement on Wednesday in Lagos. She said that the ceremony...
TAJBank, Nigeria’s leading non-interest bank, has inaugurated a new digital banking app – TAJWAY. According to a statement by TAJBank Managing Director, Mr Hamid Joda, the launch is in furtherance of the bank’s sustained drive to surpass customer expectations in real time and cost-free banking services nationwide. Joda said...
Gov. Godwin Obaseki of Edo, on Tuesday said that data obtained from NIPCO Gas, a Joint-Venture Company (JVC) indicated that over 5,600 vehicles in Benin run on Compressed Natural Gas. Obaseki disclosed this known while speaking with newsmen in Benin, He called on investors to make investments in alternative...
The adoption of 5G technology has been projected to increase efficiencies of Small and Medium Enterprises (SME) and large scale industries across various verticals in Nigeria. Mrs Onyinye Ikenna-Emeka, General Manager, Fixed Broadband, MTN Nigeria communications, said this at the Nigerian-British Chamber of Commerce (NBCC) Thought Leadership Programme on...