January 05
Nigeria: Investors Boost Nigerian Bourse, Market Up 2.11% to N43.59 Trillion
Investors' net worth on the Nigerian Exchange Ltd. (NGX) further appreciated by N899 billion or 2.11 per cent, concluding trading for the week on a positive note. Read more »
Nigeria: Maritime Workers Threaten to Shut Down Seaports From Tuesday
The Maritime Workers Union of Nigeria (MWUN) has threatened to shut down the nation's seaports from Tuesday, January 9, over the alleged refusal of International Oil Companies… Read more »
Nigeria: Fish Farmers Seek Proper Implementation of 2024 Budget
The Catfish Farmers Association of Nigeria (CAFAN) has called for proper implementation of the 2024 budget to ensure enhanced growth of the sector. Read more »
January 03
Nigeria: Amid Inflationary Pressures, Nigeria's Business Activities Expand, Hit 6-Month High
Business activity in Nigeria expanded for the first time in three months in December 2023 despite rising prices, a new Purchasing Managers' Index (PMI) has shown. Read more »
January 02
Nigeria: Power Minister Pledges Support for Tinubu's Turnaround Agenda On Electricity
Minister of Power, Adebayo Adelabu has reassured Nigerians of his ministry's commitment to prioritise electricity supply in the country in line with President Bola Ahmed Tinubu's… Read more »
Nigeria: The Long Wait for Nigeria's Oil Refineries Continues
Nigerians have once again been given false hope about the return of the Port Harcourt refinery to full operational capacity. Read more »
January 01
Nigeria: Dangote Refinery Receives 4th Crude Oil Shipment From NNPC
Dangote Refinery has received its fourth shipment of one million barrels of bonny light crude supplied by the Nigeria National Petroleum Company (NNPC) Limited. Read more »
January 02
Nigeria: 2024 Budget - Is This What Nigeria Needs At This Time?
The National Assembly, has passed the harmonised 2024 Appropriation Bill totalling N28.77tn. Before passing it, NASS increased the budget size by N1.2tn, from the N27.5tn the… Read more »
Nigeria: Tinubu Cuts Borrowing, Signs N28.7trn 2024 Budget
The federal government has reduced the deficit in the 2024 budget to below 3.8 percent of Gross Domestic Product (GDP), thereby reducing the reliance on borrowing. Read more »
December 28, 2023
Uganda: Uganda Extends Nigeria's Oranto Petroleum Oil Exploration Tenure
Uganda has extended an oil exploration licence to Nigeria's Oranto Petroleum Ltd. by two years after the company asked for compensation for time lost during the COVID-19 pandemic. Read more »
December 27, 2023
Nigeria: 2023 - Nigeria's Economic Odyssey - Challenges, Opportunities Seized
In this article, MARK ITSIBOR analyses Nigeria's finance/economic sector with a particular focus on the efforts of the authorities to navigate the micro and macro challenges to… Read more »
December 24, 2023
Africa: Morocco, Senegal Supports Early Completion of $25bn Nigeria-Morocco Gas Pipeline
Morocco and Senegal have engaged in discussions for more support towards seamless execution of the $25 billion Nigeria- Morocco gas pipeline project. Read more »
December 27, 2023
Nigeria: External Reserves Deplete By $4.28bn As Naira Maintains Fall
Nigeria's external reserves have depleted by 11.55 per cent ($4.28 billion) as of December 20, as the naira fell steadily against the dollar in 2023. Read more »
December 26, 2023
Nigeria: Emefiele and the Alleged Rot At Central Bank of Nigeria
Corruption has long been a scourge on Nigeria's economic landscape, a scourge which has hindered development and perpetuated mass poverty. Indeed, Nigerians are unfortunately used… Read more »
Nigeria: Union Bank - Again, CBN Investigator Invites Titan Trust Bank Officials
The special investigator appointed by President Bola Tinubu to probe the activities of the Central Bank of Nigeria (CBN), Jim Obazee, has once again invited three top officials of… Read more »
Nigeria: Industry Player Seeks FG Intervention in Manufacturing Sector
Anyone who lives in Nigeria does not need to be aware of the harsh economic realities that the country's residents must deal with, the managing director/CEO, May & Baker… Read more »
Nigeria: Nigerians in Low-Key Celebration As Cash Crunch Restricts Spending
Christmas and end of year celebrations is coming on a low key this year as the high cost of living worsened by the unavailability of cash impacted the ability of many to embark on… Read more »
Nigeria: High Cooking Gas Prices Persist Despite Tax Cuts
Despite the federal government's policy to reduce the price of Liquified Petroleum Gas (LPG), also known as cooking gas, the price has continued to increase even during the… Read more »
December 22, 2023
Nigeria: 14 Delta Communities Want Federal Govt to Revoke Licences of Coys Over PIA
14 Host communities to the Nigeria Exploration Petroleum Limited, (NEPL) and NECONDE Energy Limited in Delta state, have called on the federal government to revoke the licences of… Read more »
December 21, 2023
Angola: Angola to Quit OPEC Over Oil Production Quotas Disagreement
In a stunning development, Angola has announced its decision to leave the Organization of the Petroleum Exporting Countries (OPEC), effective immediately. Read more »
Nigeria: Christmas... Labour Dismisses Govt's 50% Cut in Transport Fare
The Nigeria Labour Congress (NLC) has dismissed President Bola Ahmed Tinubu's cut in transport fare by 50 percent for inter-state travellers and free train ride during the Yuletide… Read more »
December 20, 2023
Nigeria: Group Denies Plan to Liquidate Businesses, Inducts 72 New Members
The President of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), Mr. Chimezie Victor Ihekweazu, has denied insinuation that his group is out to… Read more »
Nigeria: NNPC, TotalEnergies Sign MOU On Methane Detection Technology Deployment
The Nigerian National Petroleum Company (NNPC) Ltd has signed a Memorandum of Understanding (MoU) with TotalEnergies for the adoption and deployment of a methane detection… Read more »
Nigeria: CBN Insists Building $1trn Economy Requires Strengthening of Nigerian Banks
The Central Bank of Nigeria (CBN) has disclosed that the proposed bank recapitalisation is needed as a fuel for the government's $1 trillion economy ambition and a sustainable… Read more »
December 19, 2023
Nigeria: Firstbank Warns SMEs Against Loan Sharks
First Bank of Nigeria has urged small and micro business holders against sourcing funding from loan sharks and overstretching themselves financially to avoid stress and financial… Read more »