The Naira on Monday depreciated against the dollar at the Investors and Exporters window, exchanging at N430. The figure represented a decrease of 0.09 per cent compared with the N429.62 it exchanged for the dollar before the close of business on Aug. 12. The open indicative rate closed at...
BUSINESS
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 19.64 per cent on a year-on-year basis in July. Prince Semiu Adeniran, the Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics (NBS) said this in the Consumer Price Index (CPI) for July...
By KADIRI ABDULRAHMAN – In recent times, the paucity of foreign exchange in the Nigerian economy has been of concern to many Nigerians. Some believe that the heavy dependence on crude oil sales, with its volatility, is responsible for the shortage of foreign exchange earnings for the Nigerian financial...
…As MTN announces 2022 Edition of mPulse Spelling Bee Competition Ny OLA MUDOPE, Lagos – MTN Nigeria has announced the 2022 edition of the mPulse Spelling Bee Competition. In this third edition, the competition, which aims to promote literacy, sharpen comprehension, and improve the vocabulary of kids will be executed in a hybrid...
The Adamawa office of the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said it renewed the operation licences of about 85 per cent of existing 530 petroleum stations in the state. Malam Sadeeq Ibraheem, the regional coordinator of the agency, said this while speaking with the News Agency...
The Nigerian Association of Small and Medium Enterprises (NASMEs), has called for a downward review of taxes to check the rising cost of goods and services in the country. Dr Abdulrasheed Yerima, the National President of NASMEs made the call in an interview with the News Agency of Nigeria...
Malam Mele Kyari, Group Chief Executive Officer, NNPC Ltd. (middle), Adesua Dozie, Executive Director and General Counsel, ExxonMobil Nigeria (3rd from left) at the agreements signing in Abuja. The ExxonMobil Nigeria has expressed commitment to maintain a significant Deepwater presence in Nigeria for the next 20 years to unlock...
By OFFOR CALLISTUS, Abuja – The Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT) has urged organisations to adopt stronger cybersecurity measures. These measures include ensuring that organisations’ employees use strong, unique passwords for every account and enabling multi-factor authentication (2FA) wherever it is supported to prevent ransomware...
The Africa Fintech Foundry (AFF) says it is collaborating with the Central Bank of Nigeria (CBN) to support 10 startups, to increase the adoption of eNaira in the country. The Head of AFF, Mr Daniel Awe, said this in an interview with the News Agency of Nigeria (NAN) on...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) on Friday launched ‘Crude Theft Monitoring Applications’ to curb oil theft and pipeline vandalism. The News Agency of Nigeria (NAN) reports that the launch held in Abuja on the sideline of the signing of renewed Production Sharing Contracts (PSCs) agreements between...
By OLA MUDOPE, Lagos – Leading technology company, MTN Nigeria Plc has announced a new data bundle specially designed for micro small and medium enterprises (MSMEs) who desire to access free business capacity-building content but cannot afford the data required to do so. Recognizing the benefits of knowledge and...
The Nigeria Customs Service (NCS), says it has generated N1.293 trillion in the first six months of 2022 into the Federation Account. The NCS Public Relations Officer, Deputy Comptroller Timi Bomodi said this at a news conference on Friday in Abuja. He said the amount was an increase compared...
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production increased to an average of 1.183 million barrels per day (bpd) in July 2022. OPEC made this known in its Oil Market Report for August 2022 which was obtained by the News Agency of Nigeria (NAN)...
By OLA MODUPE, Lagos – Jumia, an e-commerce platform in Africa, has launched a quick commerce platform in Nigeria dubbed Jumia Food Mart to meet increased consumer demand for rapid delivery. Jumia Nigeria Chief Executive Officer, Mr Massimiliano Spalazzi, said in a statement on Thursday that the move would...
Shortly after President Muhammadu Buhari authorised the acquisition of ExxonMobil Corporation assets by Seplat Energy Plc, he has made a U-turn on the deal. Buhari had on Monday approved the acquisition as announced in a statement signed by presidential spokesperson, Garba Shehu. However, the Nigerian Upstream Petroleum Regulatory Commission...
A-Z Petroleum Products Ltd has urged the House of Representatives to help recover an alleged outstanding debt of N30 billion subsidy differential from the Federal Ministry of Finance. The Head of Business Development, Mr Hafford Udochukwu, made the appeal on Wednesday at a public hearing organised by the House...
Mr Bello Hassan, Managing Director, Nigeria Deposit Insurance Corporation (NDIC) has said that all Deposit Money Banks (DMBs) in Nigeria, including Polaris Bank are safe and sound. Hassan made the clarification on the sideline of a three-day Capacity Building Workshop organised by the Legal Department of NDIC, for law...
By OFFOR CALLISTUS, Abuja – The Nigeria Communication Commission (NCC) on Tuesday said the country’s broadband usage has continued on the rise, moving up from 40.9 per cent in February 2022 to 44.5 per cent in July 2022, a figure considered hopeful for achieving the national broadband target of...
No fewer than six customers of Dangote Cement Plc in Lagos on Tuesday emerged millionaires in its ongoing “Bag of Goodies Season 3” national consumer promotion. The company said this in a statement signed by Mr Francis Awowole-Browne, Media and Communication Personnel, Dangote Industries Ltd. It also said that...
Mr Chijioke Okoli, Country Director, Agriculture and Construction Equipment Division (John Deere Brand) TATA Africa Services (Nigeria) Limited says the country needs 13 trillion naira to solve its mechanisation problem. Okoli said this in Abuja at a micro documentary screening organised by Alluvial Agriculture Nigeria Limited, a private organisation...