Tag: business news

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…

The Federal Government plans to allocate a significant portion of its budget to debt servicing between 2025 and 2027, outpacing allocations for capital expenditure. This is based on the recently approved 2025–2027 Medium-Term Expenditure Framework and Fiscal Strategy Paper, which projects debt servicing costs at N50.39 trillion for the three years, surpassing the N48.93 trillion…

By Modupe Gbadeyanka The Media and Communications team of President Bola Tinubu has been restructured for enhanced efficiency within the government’s communication machinery. A statement signed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that the decision to take this action was also to ensure effective and consistent…

The Federal Government of Nigeria has launched the air component of “Operation Fansar Yamma Sector 2,” a comprehensive initiative aimed at addressing banditry and other criminal activities in the North-west region. The Minister of Defence, Alhaji Mohammed Badaru-Abubakar, unveiled the operation on Monday in Katsina, emphasizing its critical role in ensuring peace, stability, and security…

By Adedapo Adesanya The Naira weakened further to N1,690.37/$1 on Monday, November 19 compared with last Friday’s value of N1,652.25/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEX). It was observed that the 2.31 per cent or N38.12 decline suffered by the local currency against the United States currency in the official market was influenced…

Nigeria’s top manufacturing paint brand, Berger Paints, has launched the Luxol Premium Matt Eco-Friendly Variant, spearheading a first-of-its-kind initiative in the country. This new product offers a safer, more sustainable option for both interior and exterior painting, aligning with global environmental and health standards.  Unlike conventional paints, the Luxol Premium Matt is formulated with low-volatile…

By Adedapo Adesanya Oil prices climbed more than 3 per cent on Monday after crude production was halted in Norway, which added to the latest escalation of the Russia-Ukraine war. Brent crude futures settled at $73.30 a barrel after chalking up $2.26 or 3.2 per cent and the US West Texas Intermediate (WTI) crude futures…

MTN Nigeria Communications PLC has formally notified the Nigerian Exchange (NGX) and the investing public of the successful completion of its Series 11 and Series 12 commercial paper issuances, raising a total of N75,183,859,000 (Seventy-five billion, one hundred eighty-three million, eight hundred fifty-nine thousand naira). The announcement, published on the NGX disclosure platform and signed…

By Dipo Olowookere All is now set for the majority shareholders of Flour Mills of Nigeria Plc to acquire the stocks held by minority investors at N86 per unit. This is because at the 64th Annual General Meeting (AGM) of the company held on Thursday, November 14, 2024, the resolution for the buyout scheme was…

Globacom Limited, Nigeria’s telecommunications giant, continues to showcase resilience and innovation, reinforcing its market presence and bringing value to its loyal customer base, which remains a central asset to the company.  Despite operating in a very competitive industry, Globacom has achieved steady growth and stability. Its main focus has been on advancing Nigeria’s digital transformation. …

By Adedapo Adesanya The biggest crude oil refinery in Africa, Dangote Refinery, is seeking to raise capital to ramp up production at the 650,000 barrels per day facility in Lagos. According to Financial Times, the refinery, operated by Africa’s richest man, Mr Aliko Dangote, is negotiating with a mix of commercial lenders, development banks, oil…

Wema Bank has unveiled significant leadership changes with the appointment of Oluwole Ajimisinmi as the new Deputy Managing Director and Olukayode Bakare as Executive Director, both set to assume their roles on December 1, 2024. This announcement, signed by the Company Secretary, Johnson Lebile, was made public on November 15, 2024, through a disclosure on…

By Aduragbemi Omiyale A new mobile application designed to empower users, particularly children and teenagers, to achieve their financial goals, is to be launched by Unity Bank Plc. The lender’s upcoming app will provide an engaging platform for setting savings goals, tracking progress, and building healthy financial habits. According to the chief executive of Unity…

The Lagos State Government has commenced the removal of shanties along the drainage setbacks at Adeniji Adele in Lagos Island. The Lagos State Environmental Sanitation Corps (LAGESC) commenced the execution of this directive on Monday, mobilizing its personnel to remove the obstructive structures and restore the functionality of the drainage system. The announcement was made…

By Aduragbemi Omiyale Governor Lucky Aiyedatiwa of Ondo State has been congratulated on his victory at the governorship election held last Saturday. In a statement, the Conference of Nigeria Political Parties (CNPP) charged him to fulfil the promises he made to the electorates during his electioneering campaign. However, the group expressed concerns over the declining…

The founder and CEO of Digital Encode, Prof. Adewale Obadare, has warned that Nigeria’s growing digital economy may be hampered by the shortage of skilled cybersecurity experts in the country. Obadare stated this during the 12th edition of the Nigeria ICT Impact CEO Forum (NIICF) held over the weekend with the theme “Strengthening Data Protection,…

The Nigerian Electricity Regulatory Commission (NERC) has directed distribution companies (DisCos) to replace obsolete meters for their customers at no cost. This mandate was outlined in a statement released by the regulatory body’s management on Monday. The directive follows recent reports of some electricity companies requiring customers to replace Unistar prepaid meters. NERC emphasized that…

By Modupe Gbadeyanka Some senior citizens in 17 host communities of the Ibese, Ogun State plant of Dangote Cement Plc have been given free medical services, drugs and other food and household items like rice, semo, honey, beverages, bathing soaps, detergent, clothing and cash incentive. The cement firm also provided other residents living with disabilities…

As part of its efforts to Brighten Everyday Life for All, Unilever Nigeria has donated a range of its products to the Borno State Government in connection to the flooding incident in Maiduguri recently. The donation included body creams, toothpaste, seasoning and other health and hygiene products to support the State Government. The Head, of…