Category: Business News

By Adedapo Adesanya The Abuja Chamber of Commerce and Industry (ACCI) has expressed optimism for significant business growth and economic development in 2025. In his New Year’s message, the ACCI President, Mr Emeka Obegolu, lauded the resilience of the business community in overcoming the economic challenges of 2024. He commended the business community in the…

In a groundbreaking partnership, Tetracore Energy has entered into a collaboration with Dangote Cement, a subsidiary of the Dangote Group of Companies, to supply compressed natural gas (CNG) for its logistics operations. The collaboration marks a significant step forward in achieving the goals of President Bola Ahmed Tinubu’s Presidential CNG Initiative (Pi-CNG). Under the strategic…

By Aduragbemi Omiyale A leading life insurance service provider in Nigeria, Stanbic IBTC Insurance Limited, has passed a comprehensive audit, resulting in the issuance of an IQNET-recognised certificate. This rigorous audit process assessed various operational aspects, financial practices, and adherence to regulatory standards, highlighting Stanbic IBTC Insurance’s dedication to exceeding industry best practices and fostering…

By Adedapo Adesanya The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has threatened to start service shedding if the plans to increase tariffs are not implemented as soon as possible. In a statement in Lagos, the Chairman of ALTON, Mr Gbenga Adebayo, said the Nigerian telecommunications industry was facing a critical challenge that required…

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…

Nigeria’s Broad Money Supply (M2) soared by 51% year-on-year (YoY) to reach N108.96 trillion in November 2024, fueled by increasing domestic borrowings by the Federal Government, according to the Central Bank of Nigeria (CBN). This increase represents a sharp rise from the ₦72.03 trillion recorded in the same period of 2023, according to the Central…

Nigeria’s foremost composite e-commerce giant, Konga, has announced its first major sales event of 2025—Konga Jara. This exciting campaign offers shoppers massive discounts of up to 70%, providing a perfect opportunity to save big and kickstart the year with unbeatable deals. The 2025 edition of Konga Jara, themed “Confam New Year Deals,” commenced on Wednesday,…

December is a particularly vibrant and deeply meaningful month in Nigeria, imbued with a palpable sense of excitement and celebration that permeates the air. As daily life slows down, this festive season offers a welcome opportunity for relaxation and togetherness. Families and friends gather to create cherished memories, participating in a rich tapestry of cultural…

Nigeria, often celebrated for its vibrant culture, diverse landscapes, and rich history, has been conspicuously absent from the latest ranking of Africa’s top travel destinations for 2025. This annual list, compiled by Travel and Tour World (TTW), highlights the continent’s leading tourism hubs and features countries like Kenya, South Africa, Egypt, Morocco, and Rwanda. These…

Food producer Africa Improved Foods is a result of a collaboration between Royal DSM of Netherlands, Dutch development bank FMO and the International Finance Corporation, the World Bank’s private sector development arm. Currently, it operates in Rwanda as a subsidiary company called AIF Rwanda, 7% of which is held by the government of Rwanda.  Ramesh Moochikal, CEO of the…

Nigeria’s Power sector has evolved over the years with improved investments by both the government and private businesses, but it is far from achieving reliable and sustainable energy for all its citizens. Amidst numerous challenges, the sector recorded notable activities and developments this year, from policy reforms and infrastructure upgrades to increased private sector participation…

Romania and Bulgaria have officially joined the Schengen Area as of January 1st, 2025, offering new opportunities for skilled workers and businesses across Europe. The addition of these two countries to the Schengen Zone removes border controls, enhancing mobility and access to job markets in Romania and Bulgaria for workers from other member states. The…

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…

Global oil prices rose slightly on Thursday, the first day of trade in 2025. Brent crude futures rose to $74.80 a barrel by 0547 GMT, gaining 17 cents, or 0.06%, while the U.S. West Texas Intermediate crude futures gained 19 cents, or 0.26%, to $71.91 a barrel. Brent had risen by 65 cents on Tuesday,…

The Nigerian Major stock market performance in 2024 nearly beat the country’s food inflation last year, posting nominal returns of 37% amid a challenging economic environment. Investors led by Aliko Dangote, Tony Elumelu, Abdulsamad Rabiu, and Femi Otedola made N33 trillion on a two-year spectrum in the Nigerian stock market. The Nigerian Stock Exchange is…

In December 2024, the crypto industry experienced over 25 hacks, resulting in approximately $24.69 million in losses, a 71% decline compared to November, according to blockchain security firm Peckshield. This marks a significant reduction in monthly losses, with December becoming one of the least damaging months of the year. The report was shared by Peckshield…

Former President Olusegun Obasanjo has disclosed how the Nigerian National Petroleum Corporation (NNPC) turned down a $750 million offer from billionaire businessman Aliko Dangote to manage the Port Harcourt and Kaduna refineries in 2007. Obasanjo made this revelation during an exclusive interview with Channels Television, where he shared insights into the challenges surrounding Nigeria’s struggling…

MTN Group said it has concluded the sale of its Guinea operations to the State of Guinea, marking its final exit from the market. According to a statement from the Group, the sale was concluded on December 30, 2024. MTN said the transaction aligns with its focus on portfolio optimization and simplification, as part of…

Organised Labour has announced plans to push for an annual adjustment to the ₦70,000 minimum wage to reflect inflationary trends in Nigeria. Labour leaders argue that the traditional practice of revising wages every three to five years is outdated and fails to address the financial realities faced by Nigerian workers amid rising costs of living.…

The UK is introducing new laws aimed at dismantling organized immigration crime networks. The government is targeting people smugglers with a range of measures, including travel bans, social media blackouts, and restrictions on phone use. These changes are part of a broader strategy to address serious crime, including smuggling and other forms of organized crime.…