The World Bank Group says it has responded to the overlapping global crises by deploying 114.9 billion dollars in financing in 2022. This is contained in a statement obtained from the World Bank website by the News Agency of Nigeria (NAN) on Saturday in Abuja. The bank said in...
BUSINESS
By JOY ADARA, Abuja – The Nigeria Export Processing Zones Authority (NEPZA) said it has attracted about one billion dollars investment in Niger State. Managing Director of NEPZA, Prof. Adesoji Adesugba, stated this while handing over an approved free trade zone declaration licence to officials of the investing company,...
The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has said that the Monetary Policy Committee will chart a new course for an improved monetary policy and Central Bank of Nigeria (CBN) that will provide direction for monetary policy in Nigeria. The governor said this at a Monetary...
The consumer price index (CPI), which measures the rate of change in prices of goods and services, hit a five-year record high leapfrogging from 17.71 per cent in May to 18.60 per cent in June 2022. The National Bureau of Statistics (NBS) disclosed this in its consumer price index...
The Nigerian Exchange Ltd. (NGX) on Thursday transacted 115.41 million shares worth N1.21 billion in 3,731 deals as the indices dropped by 0.1 per cent. This was in contrast with 198.82 million shares valued N2.18 billion transacted in 4,769 deals on Wednesday, representing 41.95 per cent.Transcorp was the most...
By EZEKIEL OBI, Abuja – The Managing Director of The Shell Petroleum Development Company of Nigeria Limited (SPDC) and Country Chair, Shell Companies in Nigeria (SCiN), Mr. Osagie Okunbor, has been named the sole recipient of the H.E. Dr Alirio Parra Lifetime Achievement Award in Nigeria Oil and Gas Industry for 2022. Named in honour of the...
A 27-year-old Kaduna-based entrepreneur, Miss Henrietta Gimbiya-Barde, says she grew a N6,000 agro-processing business to N2.5 million, with six employees in three years. Gimbiya-Barde told the News Agency of Nigeria (NAN) in Kaduna on Thursday, that her company, HIGIM Food Processing Company, processes and adds value to agricultural products...
The National Council on Privatisation (NCP) says it is necessary to inform the public about measures taken by the Federal Government concerning the board of various DISCOs across the country. The Director-General, Bureau of Public Enterprises (BPE), Mr Alex Okoh, said this in a statement in Abuja on Wednesday....
The Debt Management Office (DMO), says Nigeria does not face the risk of experiencing “debt distress” due to its 15.9 billion dollars Eurobonds. The News Agency of Nigeria (NAN) reports that the 15.9 billion dollars Eurobond is the foreign component of the debt Nigeria owes. The DMO said this...
MTN Group’s Mobile Money Application Interface (API) is inviting developers across several markets to participate in an Open API Hackathon, with a challenge to create a mobile application that uses MoMo APIs for use in their markets. The hackathon will be the second conducted by MTN Group Fintech and...
The International Monetary Fund (IMF) and the World Bank Group (WBG) have announced that their 2022 Annual Meetings will take place from Oct. 10 to 16. This is contained in a statement obtained by the News Agency of Nigeria (NAN) from the World Bank website in Abuja on Wednesday....
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production increased to an average of 1.238 million barrels per day (bpd) in June 2022. OPEC made this known in its Oil Market Report for July 2022 which was obtained by the News Agency of Nigeria (NAN)...
By JOY ADARA, Abuja – Upon the effluxion of the amnesty provided by the Voluntary Assets and Income Declaration Scheme (VAIDS) set up by the Federal Government of Nigeria through the Federal Ministry of Finance, the Joint Tax Board (JTB) in collaboration with the Federal Inland Revenue Service (FIRS)...
Some economists have suggested diverse ways in which the Federal Government can overcome the rising food prices in the country. They made the suggestions in separate interviews with the News Agency of Nigeria (NAN) on Monday in Lagos. Food inflation rate in Nigeria rose, month-on-month (MoM) to 2.0 per...
Thales, Qualcomm and Ericsson unveiled Monday a plan to allow smartphones to communicate directly with satellites, a “space-based network” they hope will bring connectivity to the entire globe. The three firms envisage launching hundreds of satellites with 5G capabilities to bring coverage to “extreme geographies or remote areas across...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) started the new week with an assurance to its investors and stakeholders that the days of complacency were over. The assurance came following the repositioning of the company to focus on profitability and value addition to its shareholders. The GMD/CEO of...
Elon Musk pulled the plug on his $44 billion deal to buy Twitter on Friday, accusing the company of “misleading” statements about the number of fake accounts, a regulatory filing showed. Musk terminating the deal that he inked in April to buy the social media giant sets the stage...
The Cinema Exhibitors Association of Nigeria (CEAN) on Saturday said it recorded N363 million as total ticket sales in all cinemas across the country for the month of June. Mr Ope Ajayi, National President of CEAN, disclosed this in an interview with the News Agency of Nigeria (NAN) in...
Polaris Bank has reaffirmed its commitment to the growth of Nigeria’s Small and Medium Enterprises (SMEs) as it announces the sponsorship of the 6th Lagos Fashion Souk 2022. The event is organized in partnership with Nigeria’s foremost event management company, EVENTFUL Limited. The two-day Fashion Souk/business fair will hold...
Investors have gained N11.98 billion after a three-day consecutive negative trading at the nation’s equities market. The market capitalisation stood at N27.807 trillion, representing a 0.04 per cent, an increase from the N27.795 trillion recorded at close of trade on Wednesday. The gains were recorded majorly on trading of...