Nigeria’s commerce and industry sectors have long been the backbone of its economy, playing a pivotal role in job creation, revenue generation, and overall national development. With a population of over 200 million people and an economy that remains one of Africa’s largest, the country has vast potential to dominate[Read More…]
Business
FBN Holdings Clarifies Merchant Banking Divestment, Retains Other Subsidiaries
FBN Holdings has sought to clarify the recent divestment from its Merchant Banking business. According to the lender, all its businesses and entities apart from the Merchant Banking business are not included in the divestment deal. It said, “We wish to clarify that all other entities and businesses listed below[Read More…]
Zenith Bank Extends Rights Issue, Public Offer By Two Weeks Over Nationwide Protest
Zenith Bank Plc has announced an extension of its current rights issue and public offer, which was originally set to close on Monday, September 9, 2024. The new closing date has been extended by an additional two weeks, to September 23, 2024. This extension was disclosed in a notice to[Read More…]
In Unprecedented Feat, Nigeria Raises over $900m in Domestic FGN US Dollar Bond
In an unprecedented move aimed at strengthening the economy and advancing financial inclusion, the Federal Government has raised over $900million from its first-ever Domestic Federal Government of Nigeria (FGN) US Dollar Bond issuance. The Debt Management Office (DMO) described the achievement as a pivotal step in Nigeria’s economic development. The[Read More…]
Reshaping Nigeria’s Economy: Navigating the Future Amid Global Shifts and Domestic Challenges
By Godwin Anyebe Nigeria, Africa’s largest economy, stands at a crossroads as it navigates the complex terrain of global economic shifts and domestic challenges. With its vast resources and a young, dynamic population, the country has significant potential for growth and development. However, the path forward requires a strategic approach[Read More…]
What’s Next as Dangote Refinery Gains Approval to Sell Petrol Directly to Marketers?
By Godwin Anyebe The recent announcement that the Dangote Refinery has gained approval to sell petrol directly to marketers marks a significant shift in Nigeria’s oil and gas landscape. As the largest refinery in Africa, the Dangote Refinery has been hailed as a potential game-changer for a nation that has[Read More…]
Rising Fuel Costs: A Tipping Point for Nigerian Businesses
By Godwin Anyebe Nigeria is once again facing a significant economic challenge, as rising fuel costs threaten the stability of businesses across the country. The recent surge in fuel prices, following the removal of subsidies by the Nigerian National Petroleum Corporation (NNPC), has sent shockwaves through the economy, amplifying operational[Read More…]
NNPC Fuel Price Surge: Businesses Brace for Impact Amid Rising Operational Costs
By Godwin Anyebe The recent fuel price hike by the Nigerian National Petroleum Corporation (NNPC) has sent ripples through the economy, leaving businesses scrambling to adjust to the sharp increase in operational costs. As fuel prices soar to unprecedented levels, companies across various sectors are grappling with the immediate effects[Read More…]
Gas Shortage Cripples Aba Power: Industrial Growth at Risk
By Godwin Anyebe The industrial growth of Aba, Abia State, is facing significant challenges as the city’s primary power supplier, Aba Power Limited, struggles with a crippling shortage of natural gas. This shortage is severely impacting the ability of Geometric Power Limited, which operates the Aba Integrated Power Project, to[Read More…]
Government Inaction as Fuel Scarcity Persists—A Nation Left in Limbo
Nigeria, a country blessed with abundant natural resources, finds itself once again grappling with the scourge of fuel scarcity. Long queues at petrol stations, skyrocketing transportation costs, and the inevitable ripple effects on the cost of living have become the painful reality for millions of Nigerians. Yet, as citizens endure[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]