Tag: business news

President Bola Tinubu has asked the House of Representatives to approve the implementation of a new external borrowing of $2.209 billion in the 2024 Appropriation Act. The funds will be used to partly finance the budget deficit of $9.179 trillion in the 2024 budget, according to the Speaker of the House of Representatives, Tajudeen Abbas,…

By Dipo Olowookere The Extra-Ordinary General Meeting (EGM) of Cutix Plc earlier scheduled for Wednesday, November 27, 2024, in Anambra State has now been cancelled. The cancellation of the special shareholders’ gathering was due to the resignation of Chidozie Nsoedo as a member of the company’s board. Cutix, which is in the business of electronic…

Nigerian startups are currently navigating significant hurdles, from funding constraints to talent shortage, amidst regulatory complexities. This is according to a new report by TLP Advisory, which highlights the state of Nigeria’s tech-driven innovation landscape and offers actionable recommendations for building a resilient ecosystem. The report titled, “A Decade of the Nigerian Venture Ecosystem: Numbers,…

By Adedapo Adesanya The United States has announced that Nigerian students’ enrollment at colleges and universities rose to 20,029 in the 2023/2024 academic year, marking a 13.5 per cent increase from the previous year. According to the 2024 Open Doors Report on International Education Exchange, this number places Nigeria as Africa’s leading source of international…

On November 18th, Xiaomi celebrated a key milestone in Nigeria by launching three new POCO models: the POCO X6 Pro 5G, POCO C75, and POCO C61, this event marks an exciting moment in Xiaomi’s ongoing journey to serve the diverse needs of Nigerian consumers, fulfilling its dual-brand core strategy with POCO and Xiaomi products side…

By Dipo Olowookere The issuer of the Quantoz digital euro, EURD, a regulated and programmable electronic money token, Quantoz Payments, has attracted the interest of the largest company in the digital asset industry, Tether. Business Post gathered that Tether, which has the popular stablecoin, USDt, has expressed its intention to invest in the company to…

Instagram has introduced a new feature that allows users, especially teens, to reset their content recommendations across Feed, Explore, and Reels. This was announced in a statement released on Tuesday by Meta, as part of Instagram’s continued efforts to offer safer, more personalized, and age-appropriate experiences on the platform. “We want to make sure everyone…

By Modupe Gbadeyanka The 2024 edition of the much-anticipated Zenith Bank Tech Fair is scheduled to commence on Thursday, November 21, 2024, a statement from the bank has said. The programme is tagged Future Forward 4.0: Embedded Finance, Cybersecurity and Growth Imperatives – The Impact of AI, and will take place at the Eko Convention…

The European Union (EU) and the Enugu State Government have initiated a N3.33-billion Solar for Health Project to electrify 25 Primary Healthcare Centres (PHCs) across the state. This initiative also saw the inauguration of the Enugu State Solar for Health Project Steering Committee, chaired by the State Commissioner for Health, Prof. Emmanuel Obi, to ensure…

By Adedapo Adesanya The Federal Ministry of Health and Social Welfare through the National Primary Health Care Development Agency (NPHCDA) has commenced the vaccination against Monkeypox, now known as Mpox. Business Post reports that Bayelsa, Rivers, Cross River, Akwa Ibom, Enugu, Benue, and the Federal Capital Territory, were selected as pilot states for the vaccination.…

Asides the use of crypto and stablecoins to facilitate transactions in Nigeria, another fast-rising means of payment in Nigeria and Africa as a whole is the use of gift cards. Gift cards have become an integral part of Nigeria’s digital payment revolution and the trend doesn’t seem to be slowing down. Most crypto platforms and…

By Aduragbemi Omiyale Application for the Series I bond issuance of up to N100 billion by Dangote Cement Plc has commenced, Business Post reports. The cement giant is selling the corporate debt instrument under its N300 billion bond programme approved by the Securities and Exchange Commission (SEC). Details of the exercise seen by this newspaper…

Nigeria’s foreign trade value in the first half of 2024 (H1 2024) reached N65.88 trillion, a substantial increase of 162.33% compared to N27.78 trillion recorded in the same period of the previous year, according to the National Bureau of Statistics. Nigeria achieved a trade surplus of N12 trillion in H1 2024, driven by strong export…

By Adedapo Adesanya Ventures Platform, an early-stage venture capital fund investing in innovative startups across Africa, has called for increased investment in Africa amidst global economic shifts. This was the crux of the second edition of its Africa Prosperity Summit held on Friday, November 15 2024, in Lagos, Nigeria. The invitation-only event themed Funding the…

Asian News International (ANI), one of India’s largest news agencies, has filed a lawsuit against OpenAI, alleging unauthorized use and storage of its copyrighted content to train the company’s Large Language Models (LLMs). According to a report by Bloomberg, the case was presented in the Delhi High Court on Tuesday. Represented by lawyer Sidhant Kumar,…

Africa is currently experiencing a digital boom. The number of internet users in Nigeria, Rwanda, South Africa, and other countries is rapidly rising, with most users relying on mobile internet. As a result, the demand for convenient payment solutions for mobile app and service purchases is more relevant than ever. Platforms like Spotify and Apple…

The United Nations Development Programme (UNDP) has collaborated with the Anambra State Government to establish a state-of-the-art Makerspace through the Solution Innovation District (SID). The initiative, officially launched by Governor Charles Chukwuma Soludo, and UNDP Resident Representative in Nigeria, Ms. Elsie G. Attafuah, aims to drive technological innovation, youth empowerment, and economic growth across Anambra…

By Aduragbemi Omiyale A new report from TLP Advisory has revealed that some business owners are struggling with complex regulatory environments in Nigeria. In the survey made available to Business Post, it was observed that 30 per cent of entrepreneurs viewed regulatory challenges as significant barriers, calling for greater policy engagement to translate into economic…

The International Finance Corporation (IFC) is offering a 6-month internship opportunity in its Infrastructure Africa team, with placements available in Dakar, Senegal, and Abidjan, Côte d’Ivoire. This internship aims to provide postgraduate students with hands-on experience in infrastructure projects across Sub-Saharan Africa (SSA), focusing on sectors such as power, transport, telecommunications, water, and waste. According…

1win in Nigeria has been among the recently launched sites where players will be able to find plenty of betting options in both casino games and sports events. This site has gained a lot of popularity among the players for a number of reasons, one of them being its simple and user-friendly interface. It has…