Category: Business News

President Bola Tinubu has restated his administration’s unwavering commitment to reducing the inflation rate from 34.6% to 15% by the end of 2025. He made this known in his New Year message to Nigerians on Wednesday. “In 2025, our government is committed to intensifying efforts to lower these costs by boosting food production and promoting…

The Nigerian Ministry of Foreign Affairs has issued a safety advisory to citizens planning to travel to or residing in Australia. The advisory highlights concerns over rising incidents of discrimination, harassment, and verbal abuse directed at foreigners, particularly in certain cities. The ministry urges Nigerian nationals to remain cautious due to the reported increase in…

International students and skilled workers applying for visas to the United Kingdom will face higher financial requirements beginning January 2, 2025. These changes, announced by the UK government, require applicants to show more money in their bank accounts to cover living expenses during their stay. These updated regulations affect those hoping to study or work…

Ireland is adjusting its work visa policies in response to changing workforce demands, with new programs set to launch in 2025. The Irish government has introduced several measures, including expanding the Critical Skills Occupations List (CSOL) and implementing quota-based work permits, aimed at addressing skill shortages in sectors such as technology, healthcare, and renewable energy.…

Detty December, the month-long rave that turns Nigeria into a global party hotspot, has morphed into more than just a festive tradition. It’s a cultural and economic phenomenon. What started as post-pandemic revelry is now a potent force driving global cultural exchange and economic activity. Even amid a depreciated naira, record inflation, and a challenging…

Governor Kabir Yusuf of Kano State has officially signed the 2025 budget into law, amounting to N719.8 billion. The signing took place at the Government House on Tuesday, following approval by the State House of Assembly. The disclosure was contained in a report by the News Agency of Nigeria (NAN). The budget, named the “Budget…

By Modupe Gbadeyanka Alagura Football Club has again emerged as the winner of the 2024 Community Football Competition organised by Egbin Power Plc to foster unity and youth development in its host communities. The tournament recorded an impressive turnout of supporters and a display of football skills by players of the 16 participating teams drawn…

The Nigeria Customs Service (NCS), Area 2 Command, Onne, Rivers State, has announced a record revenue generation of N643 billion for 2024, surpassing its annual target of N618 billion by N25 billion. This achievement represents 103% of the year’s revenue goal and marks a significant milestone in the command’s operational history. The Area Controller, Mr.…

KuCoin Token (KCS) and Litecoin (LTC) are getting momentum in the cryptocurrency market, drawing attention from crypto enthusiasts. The two tokens showed significant gains in the day enticing crypto traders looking for tokens to back. KuCoin Token Rallies on New Campaign Launch  KuCoin Token (KCS), the native token of the KuCoin exchange, has experienced a 2.93%…

The Tax Reform Bills currently under consideration in the National Assembly will address some key Nigeria’s economic challenges, including inflation and illicit financial flows. This was made known by Taiwo Oyedele, the Chairman of the Presidential Tax Reform and Fiscal Policy Committee, during a Nairametrics Twitter Space titled “Tax Reform Bills: Clarifying the Sticky Issues…

The year is almost over. The year 2024 is ending. In different parts of the world, the countdown has begun, with elaborate fireworks heralding the beginning of the New Year 2025. The year 2024 was eventful. And we could all mostly look back and wonder how it passed so quickly.  It was a year of…

The exchange rate between the naira and the dollar ended the year at N1,535/$1 representing a 40.9% depreciation for 2024. The official exchange rate between the naira and dollar closed in 2023 at N907.11/$1 thus depreciating by 40.9% for the year which compares to a 49.1% devaluation at the end of 2023. Nigeria introduced several…

The Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has said that illicit funds in Nigeria such as laundered money or proceeds of crimes will also be taxed under the controversial tax reform bill. Oyedele made the assertion when speaking on an X space hosted by Nairametrics in partnership with Business Day,…

Former BBNaija housemate, Pere Egbi, turned actor and producer, has revealed that after investing N200 million in his film, The Silent Intruder, he personally earned a meager N8 million. His claims follow a recent social media outburst by Femi Branch, lead actor of House of Ga’a, who highlighted the challenges filmmakers face with cinema promotions…

The Nigerian Communications Commission (NCC) has said its recent audit of all the mobile networks in Nigeria shows that there is no major issue of data depletion contrary to claims and complaints by subscribers. The Executive Vice Chairman of the Commission, Dr. Aminu Maida, stated this while reviewing the activities of the telecom regulator in…

By Adedapo Adesanya The latest United Nations data, as estimated by Worldometer, has projected that Nigeria will have a population of 237,527,782 by 2025. According to the report, the country’s population will grow from 235,072,214 recorded in December 2024. The statistics showed that between 2023 and 2024, the country’s population increased by 4,796,533. This is…

The Nigerian Exchange (NGX) Limited has marked a remarkable turnaround, breaking away from the poor performance of the 2015–2019 period to thrive in the 2020s. Following the oil price crash in 2015 and the ensuing recession in 2016, the 2020s have ushered in a period of unprecedented growth for Nigeria’s stock market. Since 2020, the…

By Adedapo Adesanya The African Development Bank (AfDB) is set to release $2.2 billion in funding to develop Special Agro-Industrial Processing Zones (SAPZ) across Nigeria, a move designed to transform the nation’s agriculture sector and tackle food insecurity. Mr Abdul Kamara, the Director General of the AfDB, Nigeria Office, made the announcement during Channels Television’s…

The federal government has reiterated its dedication to fostering peace and stability in West Africa, expressing deep concern over recent remarks by Abdourahman Tchiani, President of Niger’s National Council. This was contained in a statement issued by the Minister of Foreign Affairs, Yusuf Tuggar, on Nigerian Television Authority (NTA), the federal government emphasized its readiness…

By Jerome-Mario Utomi The Chairman of the board of the Niger Delta Development Commission (NDDC), Mr Chiedu Ebie has said the commission recorded impressive achievements in 2024. Speaking on Monday on a radio programme where he featured as a guest, Mr Ebie assured of the agency’s continued socio-economic and infrastructural strides in the Niger Delta.…