Nigeria and Egypt have signed partnership agreements worth 30 million dollars between business organisations from both countries at the end of the maiden edition of the Nigeria-Egypt Trade Conference and Exhibition (NETCE) in Cairo. Dr Yousrey El Sharkawi, Chairman, Egypt African Businessmen’s Association (EABA), and Mr Mahmood Ahmadu, President,...
BUSINESS
OLA MUDOPE, Lagos – Nigeria has the highest number of internet users in Africa, while data shows that the country still has one of the highest average costs of smartphones. Citizens spend over 30% of their monthly income to purchase one, and this endangers Nigeria’s 2025 broadband penetration target. With the option to Buy...
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the Dangote petroleum refinery is at 97 per cent completion. NMDPRA’s Chief Executive, Mr Farouk Ahmed, made the disclosure in a statement signed by Mr Anthony Chiejina, Group Chief Branding and Communication Officer, Dangote Industry Ltd., on Thursday in...
The Debt Management Office (DMO), says contrary to reports by U.S. based financial, software, data and media company, Bloomberg, Nigeria has no plans to restructure its debt. The DMO said this in a statement on Thursday, against the backdrop of recent reports by Bloomberg that Nigeria was considering restructuring...
PATRICK ABANG Calabar – The newly elected Chairman of The Manufacturer Association of Nigeria ( MAN) Cross River State and Akwa-Ibom Chapter, Mr. Akin Oyediran has expressed willingness and desire to partnered NEXIM Bank in the export of syringes, rubber, transformers, recycling product and other agricultural products in the zone....
Some cement dealers in Enugu State have blamed hike in transportation fare, for the increase in the commodity in the state. A survey conducted by the News Agency of Nigeria (NAN) in Enugu on Thursday, showed that there was an increase of about 30 per cent in the commodity....
By OLA MUDOPE, Lagos – Ethiopian Airlines Group, Africa’s best airline, has announced the completion of passenger to freighter conversion of one of its three B767 aircraft. Ethiopian partnered with Israel Aerospace Industries (IAI) and launched a B767-300ER freighter conversion line at Ethiopian MRO facilities in Addis Ababa. The...
First Bank of Nigeria Limited has partnered with Junior Achievement Nigeria to implement the 22nd National Company of the Year (NCOY) competition which will be held on Thursday, 13th October 2022. The annual flagship event which was last held physically in 2019 will bring together 12 winning student companies...
Angola and Libya have for the second consecutive month maintained their lead over Nigeria as Africa’s highest crude oil producers, according to a report by the Organisation of the Petroleum Exporting Countries (OPEC). OPEC said this in its Oil Market Report for October, which was obtained by the News...
Shell Petroleum Development Company of Nigeria Ltd. (SPDC) says it will resume crude oil exports from the Forcados Oil Terminal by October end when on-going repairs would have been completed. The News Agency of Nigeria (NAN) reports that SPDC declared a “Force Majeure’’ on oil exports from the terminal...
The International Monetary Fund (IMF), says economic growth in Sub-Saharan Africa (SSA) is expected to decline to 3.6 per cent in 2022 as against 4.7 per cent recorded in 2021. This is according to the IMF’s latest World Economic Outlook Growth Projections Report October 2022 titled: “Countering the Cost-of-Living...
Social media app TikTok plans to operate U.S. warehouses and product fulfilment centres to create its own e-commerce supply chain system, job listings on its website and LinkedIn indicate. TikTok reportedly began piloting a shopping feature last year in the United States, Canada and Britain through a deal with...
By CALLISTUS OFFOR, Abuja – The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has said telecom infrastructure is very critical to successful 2023 elections, therefore, every Nigerian should join hands in protecting it for the benefit of the country. Prof. Danbatta made the call...
Trading on the Nigerian Exchange Ltd. (NGX) was bullish on Monday following investors’ interest in some medium and largely capitalised stocks. Specifically, the market capitalisation garnered N116 billion or 0.45 per cent to close at N25.907 trillion from N25.791 trillion on Friday Also, the All-Share Index advanced by 214.49...
The Minister of Aviation, Hadi Sirika has presented the official letter of approval for the proposed Lekki International Airport to Lagos State Governor Babajide Sanwo-Olu. Sirika presented the letter at the ongoing ninth Ehingbeti Lagos Economic Summit at the Eko Hotel and Suites in Victoria Island. Sirika noted that...
The story of Corporate Nigeria in 2022, cannot be complete without a chapter on the incredible performance of First Bank of Nigeria Limited, which saw the hitherto encumbered bank now returning to the top of the ladder of the Nigerian banking industry, amid a harvest of international laurels, writes...
Kenya’s foreign exchange reserves declined by 12.5 billion shillings (about 103 million U.S. dollars) this week to hit a five-year low as the shilling fell to the lowest level in history against the dollar, the Central Bank of Kenya said in its weekly update of the financial markets. The...
The Director-General, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Mr Olusola Obadimu, has said the Dangote urea fertilizer plant will boost the country’s agricultural development. Obadimu said this on Saturday in Lagos via a report from a courtesy visit to the Dangote Fertilizer plant at...
Dr Kinsley Azonobi, a real estate developer and Chairman of Domak Group, says Nigeria needs new technologies to tackle challenges in various sectors of the economy. Azonobi said this on Friday in Abuja at the signing of the Memorandum of Understanding (MoU) between Domak Group and Wendit Group, a...
Not everyone buys a property to live in. Some buy strictly for business when they envisage a kind of prospect with such property. Property conversion is not new and has been in existence for a very long time. People convert the property to anything that suits their interests or...