Some of Nigerians’ biggest manufacturers have seen their losses reduce in the second quarter of 2024, largely on the back of a drop in finance costs (including foreign exchange costs) and other measures taken to stay afloat. This respite comes after the Federal Government reforms implemented last year negatively impacted[Read More…]
News
How Emmanuel Okonkwo allegedly stole N212.7m from Stanbic IBTC
Operatives of the Force Intelligence Department at the Force Headquarters Annex, Moloney, Obalende, Lagos have arrested a 29-year-old staffer of Stanbic IBTC Bank Headquarters located at Victoria Island, Lagos, Chukwudi Emmanuel Okonkwo for allegedly stealing the sum of N212.7m. Okonkwo was dragged before a Lagos Magistrates’ Court for allegedly fraudulently[Read More…]
DRUGS: Tight regulations can create monopoly, expert cautions NAFDAC
As pharmaceutical industry players await the full implementation of the Executive Order recently signed by the President, a former President of the Pharmaceutical Society of Nigeria, PSN, Pharm. Olumide Akintayo, has raised alarm over the crippling impact of the National Agency for Food Administration and Control, NAFDAC, regulations on Nigeria’s[Read More…]
Food prices soar in Kaduna after hunger protest
In the aftermath of the recent nationwide hunger protests, the prices of cooking gas and food items have skyrocketed in Kaduna. Prices of goods such as provisions, grains and other staple food items are rising steadily in markets and shops across the board. Checks by a News Agency of Nigeria’s[Read More…]
FCCPC blames disproportionate pricing of imported goods among retailers for inflation
The Federal Competition and Consumer Pricing Commission (FCCPC) has stated that disproportionate pricing of imported goods mostly among retailers is mostly responsible for inflation in consumer goods in the country. In a statement by the FCCPC’s Executive Vice Chairman/Chief Executive Officer, Tunji Bello where the commission stated its intention to[Read More…]
FCCPC to engage market leaders nationwide to curb ‘exploitative pricing’
The Federal Competition and Consumer Protection Commission (FCCPC) says it will engage market leaders nationwide to curb ‘exploitative pricing’ of consumer goods. In a statement on Monday, Tunji Bello, FCCPC’s executive vice-chairman and chief executive officer (CEO), said the commission’s advocacy for consumers aligns with President Bola Tinubu’s ‘Renewed Hope’[Read More…]
Court tells Ecobank to pay N1bn to ex-Oceanic Bank workers
The National Industrial Court Lagos division has ordered Ecobank Nigeria Limited to pay the sum of N1,086,611,589.11 being judgment debt into the account of the Chief Registrar of the National Industrial Court, pending the hearing and determination of the appeal filed by Ecobank Bank against the judgment of the Court.[Read More…]
Nigeria ranks 9th among African investment destinations – Report
Nigeria, known as the giant of Africa is ranked 9th among top African investment destinations with Seychelles and Mauritius leading the list. According to Bloomberg, the report evaluated 31 nations on the continent, assessing economic performance, market accessibility, investment climate, and social and human development. Nigeria, along with Ghana and[Read More…]
NCC Mandates Telcos to Open Up on Tariff Plans
The Nigerian Communications Commission (NCC) has instructed telecom operators to streamline their tariff plans, packages, and promotional offers after many Nigerians voiced dissatisfaction with the rapid depletion of their airtime and data plans, which used to last much longer. NCC spokesperson Reuben Muoka stated on Monday that the regulator has[Read More…]
FG and ICAC targets creation of over 1.4million jobs Annually
The Federal Government of Nigeria is collaborating with the International Cotton Advisory Committee (ICAC) to revitalize the country’s cotton and textile sector, with a target of creating over 1.4 million jobs Textile industry. annually. Vice President Kashim Shettima highlighted the initiative’s focus on developing the entire cotton value chain, which[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…]