By Cynthia Alo The London Stock Exchange (LSE) on Wednesday celebrated the achievements of Dr ABC Orjiako, the pioneer chairman of Seplat Energy Plc. Seplat which is listed on both Nigerian Exchange Limited (NGX) and London Stock Exchange is driving the country’s energy transition towards cleaner, more reliable energy.Orjiako retired last month after 13 years […]

By Elizabeth Adegbesan Nigeria’s spending on importing motorcycles rose quarter-on-quarter (QoQ) by 22 per cent to N74.6 billion in the first quarter of 2022, Q1’22, from N61.25 billion in Q4’21. However, the Q1’22 figure represented a 37 percent decline year-on-year (YoY) against the N117.65 billion recorded in Q1’21. The National Bureau of Statistics (NBS) disclosing […]

By Peter Egwuatu The President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, has decried multiple exchange rates existing in the Nigerian financial system and urged the Central Bank of Nigeria (CBN), to use Bureaux De Change (BDCs) to usher in stability in the forex market. The CBN Operational […]

By Emmanuel Elebeke Report released by the National Bureau of Statistics, NBS, has shown that the Nigeria Electricity Distribution Companies, DISCOs, metered about 3.51 million customers in 2020. The report presents statistics on electricity from 2015 to 2020 and focuses on customer numbers, metered customers, estimated billing customers, and most importantly, electricity supply and revenue […]

By Nkiruka Nnorom Investment in Nigeria’s start-up sector has continued to lose steam, falling massively by 78.2 percent to $57.55 million in April across 10 companies from $263.68 million in March. The Nigerian Investment Promotion Council (NIPC) disclosed this in its April 2022, investment highlights which shows that the ten companies span different sectors including […]

. •As firm unveils centre for sustainable building solutions By Cynthia Alo Director-General, Manufacturers Association of Nigeria, MAN, Mr.Segun Ajayi-Kadiri, has said that despite the known perennial challenges affecting the economy, investors are still demonstrating resilience towards the economy. Ajayi-Kadiri was speaking at the backdrop of the launch of a training center and Modular Mixing […]

By Prisca Sam-Duru Managing Director of the Nigeria Ports Authority, NPA, Mohammed Bello Koko, yesterday, disclosed that under his leadership as MD of the Ports, over N45 billion have been remitted to the federal government. Bello Koko who made the disclosure while speaking on his achievements within 100 days in office, on Arise TV programme, […]

By Yinka Kolawole A World Bank report has indicated that  COVID-19 pandemic, rising inflation,  and ongoing uncertainty around the Russia-Ukraine  war  pose serious challenges to Nigeria’s poverty reduction goals. However, World Bank economists, Jonathan Lain and Jakob Engel, while disclosing this in a blog presentation titled, “Barriers to trade, barriers to poverty reduction? How Nigeria […]

By Godwin Oritse THE Federal Operation Unit, Zone ‘A’ of the Nigeria Customs Service, NCS, yesterday, said it seized over 9000 bags of foreign par-boiled rice alongside other prohibited items valued at N818.1million in the month of May. Speaking to newsmen in its Ikeja office in Lagos, Controller of the Unit, Comptroller Hussein Ejibinu, said that […]

By Providence Ayanfeoluwa The Nigerian-British Chamber of Commerce, NBCC, has recommended several means of ending challenges in the Nigerian export space, with a call on the government to consider reduction of bureaucratic bottlenecks at export agencies; digitalization of export services; and sensitization of the exports community on export processes. At a media briefing in Lagos, […]

The Naira on Wednesday exchanged at 419 to the dollar at the Investors and Exporters window, compared to 419. 50 on Tuesday, representing 0.12 per cent appreciation. The open indicative rate closed at N418.21 to the dollar on Wednesday. An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s […]

By Nkiruka Nnorom In an apparent reflection of declining investors’ interest in the Nigerian economy, the value of investment announcements in the economy in the first quarter of the year (Q1’22) fell by 69 per cent, year-on-year, YoY, to $2.58 billion from $8.41 billion in the corresponding period of 2021 (Q1’21). The Nigerian Investment Promotion […]

By Victor Ahiuma-Young Employers in the Food and Beverage sector of the nation’s economy have warned that decaying infrastructure, excessive taxation, and insecurity among other challenges, have continued to weigh the sector down, saying these and other challenges have continued to hamper the growth of the industry. Speaking at its 43rd Annual General Meeting in […]

By Elizabeth Adegbesan Though Nigeria’s economy recorded a significant rise in foreign capital importation year-on-year (YoY) by 60 per cent to $610 million in January 2022, against the $380 million in January 2021, the rate of capital outflow from the economy increased massively by 163 per cent to $290 million in January 2022, from $110 […]

•As Dangote, GTB, DSTV others emerge top African brands By Olayinka Ajayi Amid the negative impacts of the Covid-19 pandemic on developing economies, brands in Africa have surged from 4per cent to 17 per cent from 2020 to 2022. Speaking during the 12th Annual Brand Africa 100, Africa Best Brands 2022 held in Lagos, Chairman, […]