In recent years, Nigeria has made considerable strides in embracing the digital revolution. As 2025 unfolds, the nation’s digital landscape reveals a mix of tremendous growth, evolving technologies, and lingering challenges. Drawing insights from the latest “Digital 2025” global report by DataReportal, we examine how Nigeria is positioned to...
BUSINESS
Dangote Industries Ltd. says it would ensure that Nigeria becomes self-sufficient in cement, agriculture, mining and petroleum production. The Regional Sales Director, Southeast, Dangote Cement, Dr Abayomi Shittu stated this in an interview with the News Agency of Nigeria (NAN) in Enugu on Sunday at the ongoing 36th Enugu...
A financial expert, Prof. Uche Uwaleke, has said the current size of Net Foreign Exchange Reserves (NRER) at 23.11 billion dollars will positively impact on the value of the Naira. Uwaleke, a Professor of Capital Market at the Nasarawa State University, Keffi, is also the President of the Capital...
The Central Bank of Nigeria (CBN) on Friday supplied a total of $197.71 million to the foreign exchange market through sales to authourised dealers. The apex bank’s Director of Financial Markets Department, Dr Omolara Duke, disclosed this in a statement on Saturday in Abuja. She noted that the intervention...
Stock market investors traded 1.183 billion shares worth N28.868 billion in 42,397 transactions this week on the floor of the Nigerian Exchange Ltd. This is in contrast to 7.521 billion shares valued at N398.949 billion that exchanged hands last week in 61,312 deals last week. Consequently, the value of...
Ordinarily, President Bola Tinubu’s reconstitution of the governing board of the Nigerian National Petroleum Company (NNPC) Limited should inspire hope for positive changes in the country’s beleaguered petroleum sector, but for critics and many Nigerians, it is a wait-and-see response. An official government statement on 2nd April 2025, said the move...
The Presidential Compressed Natural Gas Initiative (P-CNGi) and LNG Arete Ltd. on Friday signed a Memorandum of Understanding (MoU) on $27.3 million gas plant project to boost CNG infrastructure investment, expansion and availability. The Programme Director/Chief Executive Officer, P-CNGi, Mr Michael Oluwagbemi, said the partnership aimed at constructing a...
International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, has expressed concerns over new U.S. tariffs, calling them a major risk to the global economy amid ongoing economic sluggishness. She expressed the concerns in a statement, following Tuesday’s announcement of the tariff measures. “We are still assessing the macroeconomic implications...
The stock market on Wednesday opened the week bearish as performance indices declined by 0.14 per cent. Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation fell by N91 billion, or 0.14 per cent, to N66.166 trillion from N66.257 trillion recorded on Friday. The All-Share Index also dropped by 0.14...
A stock broker Mr David Adonri, has said the anticipated listing of the Nigerian National Petroleum Company (NNPC Ltd.) on the Nigerian Exchange Ltd. (NGX) will unlock global capital and enable it to surpass President Tinubu’s 60 billion dollars investment goal by 2030, The News Agency of Nigeria (NAN)...
By JOY ADARA, Abuja – The Management and staff of NNPC Ltd. have welcomed the appointment of a new Group Chief Executive Officer, Mr. Bayo Ojulari, and Board of Directors for the Company by President Bola Ahmed Tinubu. This is contained in a statement issued on Wednesday by the...
Air Peace has marked its Lagos-London one-year anniversary by rewarding passengers for their loyalty and patronage on board the Lagos-London and London-Lagos flights with giveaways, raffle draw, and a cake-cutting ceremony. This is contained in a statement signed by the Head of Corporate Communications at Air Peace, Dr Ejike...
Energy expert, Dr Ayodele Oni, says the removal of fuel subsidies in Nigeria has had a significant impact on the country’s economy. Oni, a partner at Bloomfield Law Firm, made the assertion in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. According to him,...
Petrol prices in Lagos, Nigeria’s commercial hub, have surged by ₦70 per liter, rising from ₦860 to ₦930, adding to the financial burden of consumers. The fuel price hike has also taken hold in other regions, including Abuja and major northern cities, where petrol is now being sold at...
The Nigeria Deposit Insurance Corporation (NDIC), has said it would declare the first tranche of liquidation dividends from Heritage Bank’s asset realisation in April. According to NDIC, it will thereafter begin payment to uninsured depositors of the bank. A statement issued by Hawwau Gambo, the Acting Head, Communication and...
The Nigerian stock market extended its positive trend, appreciating by N148 billion amid increased buying interest. Market capitalisation rose by N148 billion or 0.22 per cent, to close at N66.257 trillion, compared with N66.109 trillion on Thursday. Similarly, the All-Share Index (ASI) also climbed by 234.52 points or 0.22...
The Nigeria Economic Summit Group (NESG) has advised the Federal Government to sustain the crude oil production level of 2.2 million barrels per day (bpd) to ensure the feasibility of the 2025 budget. The Chief Executive Officer of NESG, Dr Tayo Aduloju, gave the advice at the group’s media...
By CHRISTIANA LOT, Jos – The Plateau State Internal Revenue Service (PSIRS) has reaffirmed its commitment to recognizing tax-compliant individuals and businesses, emphasizing their role in driving the state’s development. Speaking at the Taxpayers’ Month celebration in Bukuru, Jos South, PSIRS Chairman Jim Pam Wayas commended taxpayers for sustaining...
The International Monetary Fund (IMF) has urged the Nigerian government to accompany its economic stabilisation policies with targeted social welfare transfers to support the most vulnerable populations. IMF Director of Communications, Julie Kozack, made this known during a routine press conference at the IMF headquarters in Washington, DC, on...